Guam - Last week Calvo Enterprises presented a check for $3 million to the University of Guam's Endowment Foundation. Former Governor Paul Calvo announced, "Education is the best investment we could provide for our future leaders, and higher education at that."

And with that, Calvo presented a sizable donation to UOG president Dr. Robert Underwood. "It's unprecedented in our experience at the University of Guam," Underwood said in appreciation. "It's the single largest gift we've ever received."

With more than 14,500 graduates from UOG, the president says this donation will go far in the institution's mission to expand its reach not just in the territory but around the region giving students the opportunity to go to better facilities and get a better, higher quality education. "There isn't an institution anywhere on Guam or Micronesia that isn't touched directly by the work of the University of Guam - this contribution not only recognizes that effort it will double it down," he said.

The $3 million donation will go to into a restricted account, Underwood says, to be able to build an endowment effort to secure funding to build more buildings and facilities for a 21st Century UOG campus.

The university has raised nearly $7 million in its fundraising campaign and hopes to raise $30 million by 2017.