updated 4/16/2008 12:27:30 PM ET 2008-04-16T16:27:30

A charitable trust set up by a Tufts University alumnus who later became a Lesley University trustee has given the schools $272 million dollars to split.

Frank C. Doble placed ownership of his company, Doble Engineering Co., in the trust before his death in 1969 and named the schools the primary beneficiaries.

The company was sold for $319 million last fall, leaving the schools with $136 million each.

The gift is bigger than Lesley's annual $110 million budget.

Lesley, which is known for its education program, plans to use the money for scholarships, academic programs and facilities.

Tufts officials plan to use the donation to boost financial aid and build a science laboratory to honor Doble's legacy.

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