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Recent Private Gifts to Higher Education: Johns Hopkins Gets Biggest Gift Ever for Financial Aid

By Chronicle Staff November 25, 2018

Michael R. Bloomberg gave Johns Hopkins the largest financial gift ever made to a college in the United States, donating $1.8 billion for financial aid to the Johns Hopkins University. Among other large gifts, the Massachusetts Institute of Technology got $350 million from a private-equity firm’s co-founder for a new College of Computing, Harvard University got a $100-million anonymous donation to support its Science Center, and Wabash College, a men’s institution in Indiana, received an unrestricted $40-million gift from a couple who own wineries in Napa Valley, Calif.

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Michael R. Bloomberg gave Johns Hopkins the largest financial gift ever made to a college in the United States, donating $1.8 billion for financial aid to the Johns Hopkins University. Among other large gifts, the Massachusetts Institute of Technology got $350 million from a private-equity firm’s co-founder for a new College of Computing, Harvard University got a $100-million anonymous donation to support its Science Center, and Wabash College, a men’s institution in Indiana, received an unrestricted $40-million gift from a couple who own wineries in Napa Valley, Calif.

RankInstitutionDonorDonor backgroundGift valuePurpose
1. Johns Hopkins U. Michael R. Bloomberg co-founder of the media company Bloomberg and former mayor of New York $1.8 billion financial aid for qualified low- and middle-income students, with the goal of making admissions permanently need-blind
2. Massachusetts Institute of Technology Stephen A. Schwarzman co-founder of the Blackstone Group, a private-equity firm in New York $350 million establishment of the Stephen A. Schwarzman College of Computing, which will integrate computer science, artificial intelligence, and related fields across MIT’s five schools, and will create a deanship and 50 faculty positions
3. Harvard Medical School Blavatnik Family Foundation (Len Blavatnik) Len Blavatnik, who earned an M.B.A. from Harvard Business School in 1989, is founder and chairman of Access Industries, a New York investment company with holdings in media, telecommunications, natural resources, chemicals, and real estate. $200 million (pledge) support for medical research to develop new therapies and tools to diagnose, prevent, and treat disease; provision of space for biotech start-ups in the new Blavatnik Harvard Life Lab Longwood; and naming of the Blavatnik Institute at Harvard Medical School
3. Mayo Clinic Jay Alix founder of AlixPartners, a consulting firm on global corporate turnarounds in New York $200 million naming gift for what will be known as the Mayo Clinic Alix School of Medicine, in support of scholarships, curricular innovation, and a professorship
5. Harvard U. anonymous a graduate of Harvard in the 1990s and his wife $100 million support for Harvard’s Science Center, collaborations and a fellowship in mathematics, and resources for the Faculty of Arts and Sciences
6. Carleton College Wally and Barbara Weitz and family Wally Weitz is founder of Weitz Investments, in Omaha, a 1970 Carleton alumnus, and chairman of Carleton’s Board of Trustees $50 million (pledge) contribution to the college’s capital campaign, which aims to increase financial aid and experiential-learning opportunities like internships
6. Carnegie Mellon U. Tod and Cindy Johnson Tod Johnson is executive chairman of the NPD Group, a financial advisory-services company in New York, and vice chair of Carnegie Mellon’s Board of Trustees. The couple are 1960s alumni of the university. $50 million (pledge) endowment to support undergraduate scholarships and programs to help students persist and graduate
8. Wabash College Paul and Betty Woolls Paul Woolls, a 1975 graduate of the men’s college, and his wife, Betty, own wineries in Napa Valley, Calif. $40 million contribution to the college’s capital campaign, for unrestricted use
9. U. of Oklahoma Harold Hamm Foundation (Harold and Sue Ann Hamm) Harold Hamm is founder and chief executive of Continental Resources, an oil and natural-gas exploration and production company in Oklahoma. $34 million support for research at the Harold Hamm Oklahoma Diabetes Center in the university’s Health Sciences Center
10. Brown U. John Atwater and Diana Nelson Atwater, a 1983 Brown alumnus, is founder and chief executive of the Prime Group, a real-estate equity and investment firm in California. Nelson, his wife, is chair of Carlson, which operates Radisson Hotels and other hotel chains. $31.6 million construction of a lobby in the university’s new performing-arts center named for the donors, and support for scholarships and the annual fund
11. North Carolina State U. Frederick Wilson Jr. and family Frederick Wilson Jr., a 1961 North Carolina State alumnus with a degree in textile chemistry, is chairman of Piedmont Chemical Industries, a manufacturer of textile chemicals that was founded by his father in 1938. $28 million endowment for the university’s College of Textiles, which has been renamed the Wilson College of Textiles
12. Boston U. Frederick S. Pardee real-estate investor and former economist at the RAND Corporation, in California, who is a 1954 university alumnus $25 million addition to the endowment at the Frederick S. Pardee School of Global Studies, meant to support education and research in international studies
12. Marshall U. Foundation Brad D. and Alys Smith Brad Smith, a 1986 Marshall alumnus, is chair and chief executive of the software company Intuit, in California. $25 million support for the Lewis College of Business, including new facilities and a redesign of the curriculum; a new building will be named the Brad D. Smith Center for Business and Innovation, and the undergraduate and graduate schools of business will also be named for him
12. Stanford Law School William A. Franke founder of Indigo Partners, a private-equity firm, who earned degrees from Stanford in 1959 and 1961 $25 million endowment for and support for expansion of Stanford’s Global Initiative, now named the W.A. Franke Global Law Program
12. U. of California at Los Angeles, David Geffen School of Medicine Steven Gordon Family Foundation (Steven and Laurie Gordon) Steven Gordon is chairman and a principal owner of Domino Realty, in California. Laurie Gordon is a former lawyer for United Artists Communications and former vice president of Warner Bros. International Theatres. $25 million creation of the Laurie and Steven Gordon Commitment to Cure Parkinson’s Disease, with support for research, five endowed faculty chairs, and a new laboratory
12. U. of Maryland Medical Center Leonard and Roslyn Stoler founder of the Len Stoler Automotive Group, which operates car dealerships in Baltimore and New York $25 million support for a new building for the Marlene and Stewart Greenebaum Comprehensive Cancer Center
12. U. of the Arts Dorrance Hill Hamilton a Campbell Soup heiress and university trustee who died in 2017 $25 million (bequest) support for the university’s capital campaign, which aims to renovate buildings, build a new dorm, and fund new programs and five endowed chairs

Note: Gifts and biographical information were compiled from news articles, news releases, and The Chronicle of Philanthropy’s database of charitable gifts. The database compiles gifts of $1 million or more from 2005 to the present.The Chronicle of Higher Education maintains a separate list of major gifts of $50 million or more to colleges and universities, dating back to 1967. The value of gifts is based on information from institutions or donors at the time the gifts were promised or received. In cases of stock, property, art, and other noncash donations, actual value may have increased or decreased since the gifts were pledged or received. Grants are excluded. Gifts of the same amount are listed alphabetically by institution. Information on gifts can be sent to gifts@philanthropy.com. Questions or comments on the Chronicle List should be sent to Ruth Hammond.

A version of this article appeared in the November 30, 2018, issue.
We welcome your thoughts and questions about this article. Please email the editors or submit a letter for publication.
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