The fate of the $20 million donation is unclear.

Money CNN reports.

College loses bid to change name for $20 million donation

Paul Smith’s College, a tiny school in upstate New York, got some great news: Philanthropist Joan Weill, a friend of the college, was ready to donate $20 million.

The only catch was the school would have to be renamed Joan Weill-Paul Smith’s College. The college’s leadership was ready to oblige, but it had a problem.

Decades ago, when local businessman Phelps Smith donated the land on which the school is built, he stipulated in his will that it be named after his father and “be forever known as ‘Paul Smith’s College of Arts and Sciences.'”

Facing the prospect of a $20 million windfall, the college administration recently went to court to seek permission to rename the school anyway.

But this week, a local judge denied the college’s petition — leaving the fate of the $20 million donation unclear.

Joan Weill, who is the wife of former Citigroup (C) CEO and chairman Sanford I. Weill, was not available for comment Thursday.