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Simons Foundation Makes Transformational $500 Million Gift to
Stony Brook University

June 1, 2023

Dear Campus Community,

Today Stony Brook University received a historic and transformational $500 million gift from the Simons Foundation – the largest-ever unrestricted endowment gift made to a U.S. institution of higher education. Igniting what will total nearly $1 billion invested in Stony Brook’s endowment, this visionary gift is an incredible acknowledgement from the Simons Foundation co-founders and co-chairs, Jim and Marilyn Simons, and its president, David Spergel, that affirms Stony Brook University’s standing as New York’s flagship of the future.

We are calling this gift the Simons Infinity Investment to convey the enduring impact and the ongoing support of the Simons Foundation and Simons Foundation International to Stony Brook University. Jim, Marilyn and David have worked with us to intentionally structure this $500 million gift to capitalize on the endowment matching program that was championed by Governor Hochul in the recently passed state budget.

Through the Simons Infinity Investment, New York State will match the first $200 million of the Simons Foundation gift with an additional $100 million for Stony Brook’s endowment. Gifts from other donors to support our endowment will also be matched through the state’s program until a state-set threshold is met.

Endowments are especially valuable because they are developed to be invested for the long term. The principal is left to grow for the future, while expendable income from the endowment return, typically four to five percent annually, is available to support current-year initiatives. As an endowment grows, the university is able to make future commitments and to invest strategically in strengths while being able to respond to changing needs.

Increasing the size of our endowment will have a direct and positive impact on stable funding for student scholarships for a diverse student body, endowed professorships, innovative research, development of new academic fields, provision of excellent clinical care and university rankings and reputation. The unrestricted nature of this gift allows Stony Brook the means to invest in areas most urgent and necessary where current, and sometimes time-sensitive needs, are greatest.

Jim and Marilyn’s involvement over the last 55 years as members of the Stony Brook community has been life-changing for generations of students and scholars past, present and future and continues to propel this institution forward.  They have provided countless hours of counsel and leadership to advance important initiatives, such as the Stony Brook Women’s Leadership Council mentoring program. Their transformational support has impacted every corner of the Stony Brook campus and beyond, from Stony Brook’s historic plan to build the New York Climate Exchange to the Renaissance School of Medicine and the Simons Center for Geometry and Physics.

Our university continues to set ambitious goals that respond to society’s greatest needs, and we can do so because of partners and friends like Marilyn, Jim and David who see in Stony Brook what we see in ourselves. I am also grateful to Governor Hochul for her visionary leadership that continues to provide Stony Brook University with the flexibility and resources needed to realize its full potential as a flagship institution.

Thanks to the Simons Foundation, we not only embrace bold challenges with a courageous and innovative spirit but also with resources that support our vision to drive change in our community, in New York and around the world.  

With immense gratitude,

mcinnis signature

Maurie McInnis
President

 

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