Centre College in Kentucky Takes $250M Hit After Donor Withdraws Gift

Imagine you're running a small private college and somebody gives you $250 million. Now imagine you can't have it after all.

The associated Press says it happened in Kentucky to Centre College.

If the name is familiar, it's because the liberal arts college hosted vice presidential debates in 2000 and 2012.

Anyway, Centre was going to receive $250 million, but now the donor -- the A. Eugene Brockman Charitable Trust -- has withdrawn the offer.

The AP says the Trust cited a "significant capital market event." No word on what the event was, but when you're talking about a quarter of a billion dollars, it's probably all significant.

College officials say they'll try to put together the type of scholarship program they had planned to set up with the gift.