The Palm Beach Post reports on questions over whether the insurance magnate Barry Kaye will be able to fulfill a much-publicized 2007 gift to Florida Atlantic University.

The Carole and Barry Kaye Foundation pledged $16-million, the largest gift in the Boca Raton school’s history, leading the university to name its business school after Mr. Kaye. Business faculty members say they were told during an April meeting that an expected payment on the donation had not been made, and the FAU Foundation’s executive committee reportedly discussed in January whether to allow an unnamed donor to reduce a large pledge, the Post reports.

Tax returns from the Kayes’ foundation show $3-million in gifts to the school from 2005 to May 2008. Mr. Kaye’s Wealth Creation Foundation, a for-profit entity that was a major contributor to his and his wife’s philanthropy, closed in September. The Kayes declined to comment for the article.