All articles tagged with #endowment
Vanderbilt University announced an anonymous gift to endow the baseball head coaching position in honor of Tim Corbin, celebrating his successful tenure and contributions to the university's athletics, as part of the broader Dare to Grow campaign and Vandy United initiative to enhance athletic facilities and support student-athletes.
Harvard University experienced its largest operating loss in 14 years, totaling nearly $113 million, due to federal funding cuts and increased costs, despite record donations and a strong endowment return. The university is negotiating with the White House over funding disputes.
The Metropolitan Opera is partnering with Saudi Arabia to perform there for three weeks each winter, a deal expected to generate over $100 million to help address its severe financial difficulties caused by pandemic-related fund withdrawals and declining revenues.
Brown University has secured a $500 million loan amid financial difficulties, planning significant cost reductions and operational changes due to deep financial losses and a relatively small endowment, amidst broader challenges in higher education funding.
Billionaire couple Ronda Stryker and William Johnston have donated $100 million to Atlanta's Spelman College, marking the largest-ever single donation to a historically Black college or university. The donation will be used to endow scholarships, develop an academic focus on public policy and democracy, and improve student housing. This significant contribution reflects a growing trend of increased support for HBCUs following racial justice protests, with recent large donations also made to the United Negro College Fund and other historically Black institutions.
The New York Philharmonic has received a groundbreaking $40 million donation from financier Oscar L. Tang and his wife, Agnes Hsu‐Tang, the largest endowment gift in the orchestra's history. The donation will be used to endow the Philharmonic's music and artistic director chair starting in the 2025-26 season when Gustavo Dudamel becomes music director designate. The gift is seen as a significant boost for the Philharmonic, which has recently stabilized its finances and undergone a major renovation of its concert hall. Tang and Hsu-Tang expressed their confidence in the Philharmonic's new leadership and their desire to support music education and social change initiatives.
Former math professor and billionaire hedge funder James Simons has donated $500 million to Stony Brook University, making it the largest unrestricted donation to a college in US history. The donation is expected to grow by up to $1 billion in contributions for Stony Brook University’s endowment, thanks to New York State’s public matching program for donations. Simons has steadily contributed to Stony Brook, including a record $60 million donation in 2008. The founder of Renaissance Technologies investment firm credited his time at Stony Brook with honing his skills.