Jaclyn Ahearn Senior Executive Assistant to the President | Stony Brook University
Jaclyn Ahearn Senior Executive Assistant to the President | Stony Brook University
Stony Brook University has announced a record-breaking increase in philanthropic support for the fiscal year 2024, raising over $654 million. Approximately 85 percent of these funds are directed towards endowment gifts aimed at supporting the university's future generations.
Since the announcement of the historic $500 million Simons Infinity Investment in June 2023, Stony Brook has established 10 endowed chairs and professorships, one endowed dean, and 24 new endowed scholarships and fellowships. This brings the total number of endowed faculty positions to 70, up from just 16 in 2011.
The surge in endowment giving is largely due to matching initiatives from both the Simons Infinity Investment and the New York state endowment matching challenge. These programs collectively triple the impact of donations. Until April 2026, New York state will contribute $1 for every $2 given to university endowments at its four university centers, including Stony Brook. Additionally, the Simons Infinity Investment matches any endowment gift on a 1:1 basis with unrestricted support, which is also matched by the state.
“Stony Brook students and faculty have their sights set on the future to create pivotal change,” said Interim President Richard McCormick. “It is clear that their success is closely tied to the tremendous philanthropy from our supporters and strong partnerships we have been fortunate to build.”
The university's sixth annual Giving Day also saw record participation, with 3,800 gifts totaling $1.6 million raised within just 24 hours. Support came from alumni across six countries and 38 states, benefiting over 100 programs throughout the university.
“The Stony Brook community has come forward to support the university in remarkable ways,” stated Scott Barrett, interim vice president of advancement. “Because of the historic support from our alumni, friends, faculty, staff and grateful patients, Stony Brook continues to drive pivotal change for our students, conduct research that will make a significant impact on the world, improve the health and well-being of all of our communities, lead the fight against climate change and produce artistic and cultural education and programming that is accessible and enjoyable for all.”
For more details on fiscal year 2024 highlights, visit SB Matters.
Alerts Sign-up