The Chronicle of Higher Education reports that NYU Medical Center’s latest gifts of $150 million and $110 million bring this year’s total private giving to NYU’s Medical Center to $506 million. The $150 million gift, donated by Helen L. Kimmel, will pay for a new patient pavilion, while the $110 million gift was donated anonymously, and will be used to redesign the Tisch Hospital.
Despite the economic downturn, several other universities received significant gifts in recent months:
- University of Chicago announced a $300 million gift to its business school from alumnus David G. Booth.
- Eli and Edythe L. Broad pledged $400 million to endow a biomedical research center, to be jointly run by Harvard, MIT, and the Whitehead Institute for Biomedical Research.
Although such significant donations have continued up until this point, Rae Goldsmith, vice president for communications and marketing and the Council for Advancement and Support of Education, thinks that depending on how long and deep this recession is, the gifts may become fewer and farther apart. “Mega-gifts are not going to disappear when the economy is down…They just may not be as frequent.”