"The gift could not have come at a better moment," says Judy Steinhardt, the IFA's chairman of the board, in a release. "The money will be used entirely for tuition assistance awards, effective immediately. With these funds, the IFA will be able to provide more financial support to students than would be otherwise impossible in these difficult economic times."

In a release, Solow cites IFA's "brilliant faculty and long track record of producing leaders in the field. The students make a commitment to a rigorous training program, and I am delighted to help by making a commitment to them."

Solow previously endowed two professorships at the IFA, one in architecture and one in modern art. He has also given the IFA two floors at 3 E. 78th St., adjacent to the James B. Duke House at the corner of 78th Street and Fifth Avenue, where the IFA is housed. The IFA plans to use the 3 E. 78th space to expand its library, representing the first expansion of the IFA campus in more than 25 years. Solow has been an IFA trustee since 1987, including 10 years as chairman of the board of trustees.