In 2001, philanthropist John W. Kluge gave an extraordinary gift of real estate to the University of Virginia Foundation for educational and charitable purpose. The 7,379-acre gift, valued in excess of $45 million, more than doubled the University's land holdings. Located in southeastern Albemarle County, the properties comprised 11 farms and estates, including historic Morven Farm.

The Foundation currently retains 2,913 acres, known as Morven, the prior sale of 4,466 acres established two endowments to support estate maintenance and programs. Morven’s current acreage includes forty-three buildings and a core property to be held in perpetuity. The gift also includes the renowned Formal Gardens, circa 1930, and the Japanese Garden constructed in the mid-1990s.