(Source: Washington & Lee University)

It's becoming commonplace: Over the last couple of weeks, four institutions have announced gifts of $100 million. As I reported earlier, the Universities of Chicago and Illinois received that sum. On the heels of those announcements came word from the University of Washington of a $105 million gift from the Gates Foundation. When it rains, it floods.

Now, Washington & Lee University has announced its own $100 million gift. Like Chicago's benefactor, this donor chose anonymity.

Here's part of W&L's release:

During commencement exercises today, Washington and Lee University will announce that it has received a gift of $100 million, the largest in the 258-year-old school's history and one of the largest ever received by a liberal arts college.

"This act of generosity, vision and loyalty ensures that Washington and Lee will fulfill its historic mission to educate leaders who possess integrity and a commitment to service," said W&L President Kenneth P. Ruscio.

Of the total sum, $85 million will increase existing funds for need-based aid at the university. "We want top students who can benefit from one of the country's best, most personal liberal arts educations," said Ruscio. "This gift means that financial circumstances need not prevent such students from choosing W&L."

Ruscio said that the donor requests that he remain unidentified for the present in order to keep the focus on the students graduating today, the program the gift creates and the values it reinforces.

The university is known for its strong liberal arts and professional programs. "Washington and Lee has always embraced the responsibility to prepare students to lead lives of consequence," Ruscio explained. "This challenges us and inspires us to reach even higher."

The contribution was made to endow a new program focusing on leadership and integrity. "It provides an unprecedented set of opportunities for a university," said Ruscio. "The theme could not be more timely for Washington and Lee and for society."

Lots of money for a relatively small place.