11/21/2011 05:33 pm ET

DePaul University $10 Million Donation Largest In School's History

DePaul University announced Monday that it had received a $10 million donation from an alumnus, the single largest contribution in the school's history.

The donors, a retired graduate of the university's College of Commerce and his wife, wish to remain anonymous, according to the Chicago Sun-Times. The donation will be added to the school's "Many Dreams, One Mission" fundraising campaign, which aims to raise $250 million, and is reportedly earmarked to fund student scholarships and a professorship.

"This landmark gift is notable not just in its magnitude but in the profound impact it will have on the College of Commerce and the students who come through its doors seeking opportunity and excellence," Rev. Dennis H. Holtschneider, C.M., president of DePaul, said in a statement on the university's website. "This gift is going to change the lives of countless students and help DePaul meet our commitment to recruiting the very best faculty to teach them."

The fundraising campaign has already brought in $215.3 million from more than 25,000 donors since the effort began in 2007, the university told Crain's Chicago Business. The school, based in Lincoln Park, was the largest Catholic university in the U.S. last year, with a total enrollment of about 25,400 students.