NEW YORK–The Spencer Educational Foundation Inc. said Thursday that it has received a $525,000 donation from FM Global, which the foundation said is the largest contribution pledged in its 29-year history.

A portion of the funds donated by the arm of Johnston, R.I.-based Factory Mutual Insurance Co. will go to grants to create courses at universities around the world to develop risk mangers who understand the value of engineering in loss prevention, according to a statement from the New York-based Spencer Educational Foundation.

The remainder of the funds will go toward the annual FM Global scholarships for students pursuing a degree in risk management or insurance.

For more information, visit www.spencered.org.