Paul Smith's College Gift, Name Change Dropped

Paul Smith's College will not appeal a court ruling that refused to allow the college to change its name in honor of the donor of a potential $20 million gift.

The college wanted to change its name to Joan Weill-Paul Smith’s College in honor of philanthropists Joan and Sanford Weill. However, a judge earlier this month ruled against the college's proposed name change, ruling that it violated the original gift agreement that created the New York college in the 1940s.

The Weills have since pulled their $20 million conditional pledge from the college, according to a New York Times article.