$25 million gift given to CUNY schools
May 01, 2013
Many state schools have a number of branch locations in addition to their flagship. Some of these campuses end up being known as superior to others in the system because they don't always receive the same amount of funding.
The City University of New York (CUNY) - which is comprised of 24 different campuses - was recently given a $25 million gift by the Stella and Charles Guttman Foundation. The majority of the funds will be directed particularly toward the Community College at CUNY, located in Manhattan. Around $9 million will also go to scholarships at all seven CUNY community colleges.
This was the largest amount of funding ever given to a New York-based community school. As such, the CUNY Board of Trustees decided to rename the institution from The New Community College to The Stella and Charles Guttman Community College.
The funds will, "help us meet our goals of improving students' graduation rates, maintaining academic integrity and quality and successfully launching these students into the next phases of their lives," chancellor Matthew Goldstein explained.
The Guttman Foundation was created in 1959 by Charles Guttman with the aim of making a difference via social initiatives. Thus far, the nonprofit organization has donated approximately $58 million to various charities and projects both in New York and Israel.
Foundations and organizations that provide annual funding might benefit from nonprofit accounting software, which can help board members audit funds and make sure the correct amounts are being distributed to various programs each year.