The Oregon Community Foundation announced Wednesday that its will receive $150-million from the estate of a northwestern industrialist who died in December, says the Portland Business Journal.

The donation from the late Fred Fields is nearly four times the previous largest gift to the foundation, which said it would use the money to create a Fields Fund supporting education and the arts statewide.

Mr. Fields, an engineer and the former owner of Coe Manufacturing in Woodland, Wash., divided his estate among the foundation and a dozen Oregon universities and charities, including the Portland Art Museum and Ronald McDonald House. The foundation learned the amount of its share after the other bequests were set.