Hunter College receives $25 million commitment from alumni
August 27, 2013
According to hedge fund head billionaire Leon Cooperman, there are four things people can do with their money - spend it, save it for their children, lose half of it to the government or give back, The Wall Street Journal reported. It seems like in most cases, the top two options prove the most attractive to people, but that's not the case with the Cooperman family.
The source explained that Cooperman and his wife, Toby, recently decided to commit $25 million to their alma mater, City University of New York's Hunter College to commemorate their 50th wedding anniversary and their 50th college reunion. The news outlet said that Leon suggested they would donate even more in the future.
The WSJ detailed that the $10 million will create a new need-based scholarship program, while the remaining $15 million will help renovate the campus's library, the Leon and Toby Cooperman Library.
The Coopermans have long been generous, supporting a variety of nonprofits in different areas. For instance, in 2010, the couple committed $5 million to the creation of The Cooperman Family Fund for a Jewish Future, New Jersey Jewish News reported. This group endows birthright trips for young Jewish adults to take to Israel, as well as creating Jewish summer camps and mitzva projects.
Organizations that are providing funds for multiple nonprofit programs might find it easier to manage their large-scale efforts with fundraising management programs that can account for funds as they are disbursed to recipients.