"This is an exciting moment," wrote Business School Dean Kim B. Clark in a letter to outgoing Radcliffe President Linda S. Wilson and Mary Maples Dunn, who will assume the top leadership post at Radcliffe in July. "Given the Business School's relative youth when compared to the University's venerable history, I recognize the significance of support at the early stages of a new venture."

Because the gift is not restricted to a specific Radcliffe Institute program, it will qualify for a 100 percent match from the Radcliffe 20th Century Challenge Fund, which was established last year to encourage unrestricted donations.

The new Radcliffe Institute will be an academic community where individuals can pursue advanced work in the academic disciplines, professions, or creative arts. Within this broad purpose, the Radcliffe Institute will sustain a commitment to the study of women, gender, and society. The Institute will also offer nondegree educational programs, contribute to the education of students in Harvard's degree programs, and to the experiences of undergraduates.