Trustee gives $1M to ORU scholarship fund

April 20, 2009

Tulsa, Oklahoma - A trustee of Oral Roberts University has given a $1 million gift to the school's scholarship fund.

When matched through the school's fundraising campaign, the donation will whittle the university's debt from more than $50 million a year ago to around $2.5 million.

The gift was made Wednesday at the Tulsa-based evangelical school's board of trustees meeting by Michael Hammer, chairman and CEO of The Armand Hammer Foundation and grandson of the late industrialist Armand Hammer.

Its reputation once tarnished from a 2007 financial scandal that led to its president's departure, ORU has worked to improve its image and cut its debt.

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