"To help us realize our vision, Stephen Ross is once again directing his generosity to our school." Ross' latest gift comes weeks after one of his past donations dating back 15 years was placed under scrutiny in an article published by the Detroit Free Press. In his ruling, Halpern issued maximum civil penalties for the "gross valuation misstatement." According to the Free Press, Ross is likely to appeal the judge's ruling. The million lead gift was used to create the Stephen M.The article showed that Ross and a group of donors claimed a tax deduction of million that was flagged by Internal Revenue Service lawyers. Ross Academic Center, which provides academic support services and study space on the athletic campus.Ross Student Investment Fund for academic programs and learning experiences in asset and investment management, including venture capital, private equity, commercial real estate and publicly traded securities.See the University of Michigan's 10 largest donations in school history The final million of the gift will go toward completing and maintaining the Ross School campus.
He began his career as a tax attorney at Coopers & Lybrand in Detroit.The University of Michigan announced Wednesday, Sept.20, that alum and billionaire real estate mogul Stephen M.I am especially grateful to Steve for, once again, demonstrating his confidence in the University of Michigan and ensuring a bright future for our students and faculty." Ross' latest donation is another example of his commitment to helping enhance the business school's reputation globally, Ross School Dean Scott De Rue said."Now that we have a state-of-the-art, inspiring space for faculty, staff and students, our focus is on attracting great talent and creating the most action-based, transformative student experiences in business education," De Rue said in a statement. Halpern sided with the IRS, disallowing the million write-off, which had a fair market value of .4 million. Tax Court did not find fault with the university's handling of the Ross donation, and the university received the money Ross pledged.