Record Donation Year for Long Island Colleges

John Mitty Sunday, March 3, 2013

Five different colleges on Long Island declared a record year for donations for 2012, according to a report released by Newsday.  The donations they received were equal to or larger than those they had received in the past.  Since public school funding on Long Island is fairly constricted during these tough economic times, donations like these are more important than ever.

Stony Brook University received a donation of $150 million from Jim and Marilyn Simons.  Jim Simons used to work as the manager of a hedge fund.  It was the biggest donation received by any college on Long Island last year. Hofstra University was gifted $20 million by Maurice Deane, a pharmaceutical executive.  It was the second largest donation that the university ever received. Adelphi University was given $9.5 million by alum Robert Wilumstad, a financial executive.  The university previously received a donation of that amount as well, making the 2012 donation a tie for the record.  Farmingdale State College and Molloy College each received $1 million over the course of 2012 from various donors.  All in all, it was a great year for these five universities, despite the budgeting problems which are being faced by so many Long Island schools.

jmitty@longislandyellowpages.com

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