A lot of colleges are pretty cash-strapped now. But it looks like at least one school will end fiscal year 2010 with a whole hell of lot more money. According to an article by Chad Garrison in the Riverfront Times:

Washington University [in St. Louis] will announce today that John F. McDonnell and the foundation of his late-father James S. McDonnell will donate $60 million to the school.

The money from McDonnell and the JSM Charitable Trust is the second-biggest gift the university has ever received. Most of the gift — $48 million — comes with no strings attached and can be used however the school sees fit.

McDonnell, who sits on the Washington University board of trustees, is an heir to the McDonnell Douglas fortune. The McDonnell Douglas Corporation was largest defense contractor in the United States of America. It merged with Boeing in 1997.

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Daniel Luzer is the news editor at Governing Magazine and former web editor of the Washington Monthly. Find him on Twitter: @Daniel_Luzer