Joel Backer Stanton Give $100 Million To YU

190 Stanton

Ronald Stanton

Ronald Stanton, a prominent member of YU’s board and a strong supporter of YU’s president Richard Joel, has donated $100 million to YU. The New York Times reports:

When he was 14, Ronald P. Stanton turned down the offer of a private scholarship for study at Yeshiva University to become a rabbi. But Mr. Stanton, a businessman, has had a close relationship with Yeshiva for the last 30 years, as a trustee, as chairman, and as head of a fund-raising campaign that raised $400 million. Now 78, he has become the university’s largest donor.

Yeshiva, a comprehensive university under Jewish auspices, announced yesterday that Mr. Stanton was giving it $100 million, which it says is the largest single gift ever to support Jewish education in the United States. “This breaks the glass ceiling both for Yeshiva and for Jewish life,” said Richard M. Joel, the president of Yeshiva, which has about 3,000 undergraduates as well as schools of law, medicine, business and other disciplines, and a rabbinical seminary.

Mr. Stanton said that he had planned to make a big gift to Yeshiva for some time, and that he would give the university the money in installments over the next 5 to 10 years.

His gift will establish the Ronald P. Stanton Legacy, and will go to recruit faculty members, erect new buildings, pay for research and give the president the ability to move quickly on initiatives without having to wait for other donors. Assets drawn from the fund will be replenished as other gifts are received.

Mr. Joel said he expected the Stanton donation to lead to others of the same size. “I certainly expect there to be a second,” Mr. Joel said.…

Stanton is the founder and head of Transammonia, Inc., a privately held energy corporation Forbes lists as the 35th largest company in the United States.

[Hat tip: Professor Gershon Mendel.]

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13 Comments

Filed under Modern Orthodoxy

13 responses to “Joel Backer Stanton Give $100 Million To YU

  1. Tzippora

    As a student at Stern, I couldn’t care less. The student body won’t see a penny of this money. God forbid they hire decent professors…

  2. Schneur

    Tzippora may indeed be correct.
    I also doubt very much that the YU staff or faculty will now receive a “Living Wage” salary. Basically the money will go to the endowment fund which in itself is a normal designation.
    But given many deficiencies in salaries, student life (No student Union building on the Main campus) and a generally parsimonous attitude towards anyone but high level employees, a tiny bit of this money used to improve student life and the salaries of staff and faculty would greatly improve the Yeshiva U. community and be a wise move.

  3. Jerry

    I really think its amazing that YU is able to raise this amount of money to contribute to its endowment and funding. I think its unbeleivable that YU, which hasnt been around that long is getting huge donations on par with ivy schools.
    Unfortunatly, students in YU want to pay City college tuition, and receive Ivy league amenities, while having a campus in New York City.

    Its a wonderful thing, and those who fail to see it, can not grasp the full picture.

  4. Tzippora

    Jerry, I would have to disagree with you there. Students at YU are paying over $35000 a year, very much on par with the Ivy League schools. The amenities we’re getting aren’t just not up to par, they’re poor.

    And yes, YU spends a lot of money on their campus in midtown, but their most recent new projects (a new student lounge in 245 Lexington)and purchases (the 14th floor of 205 Lexington) are cosmetic in the first case, and unnecessary in the second. Yet nearly all YU professors admit that it is impossible to do research in the undergraduate schools, due to the lack of facilities. Meanwhile, no effort has been made to improve the schools academically, and Stern continues to receive very few resources to provide a decent selection of courses.

    We’re not looking for Ivy League, but YU is pretending to provide a level of education that simply isn’t there.

  5. Ma Rabbi

    YU should use more money for scholarships. Why should kids from low income families graduate YU owing the Govt. 20 thousand dollars in loans when they have all this money?

  6. What about his actual alma mater, CCNY? I happen to be a student there. Back in 2002, we restarted our Hillel Club after years of nonexistence. Pass some of that money to us, too!

  7. a man

    why doesnt he give the money to Chabad? they could use it much beter than YU!

  8. Neal

    If you give it to Chabad..it ends up decorating someones house or help send one of Krinskys relatives to camp…please chabad is all about enriching themselves

  9. Joesph

    Give it to Chabad???…what they destroyed our community by coming here and dividing us up and now there is strife and the whole community suffers…the chabad “Rabbi” is just interested in the rich jews and lining his own pockects..the rebbe should be proud

  10. Stop bashing Chabad. Last year the Chabad rabbi on my campus was giving out free lulav and esrog. They were high quality and remained in good condition for the duration of their use.

    Lulavs and Esrogs can be expensive, so I am thankful that Chabad helped me out. I hope that people continue to donate, but carefully, so it doesn’t end up in the “yehi” division of Chabad.

  11. Nachum

    Schneur, there’s a student center on the main campus.

    Money is money. No matter how it’s designated, it goes to salaries, scholarships, etc.

  12. Schneur

    I am not a student at YU, but I have worked there since 1982 . I am unaware of a student center at the Main campus. Where is it in Furst ? in the dorms ? in the Beth Medrash ? in Belfer ? In Schottenstein, in the Pizza store ? maybe in the parking lot ? or maybe in the libary whch may explain the constant talking and eating in the LIbrary.
    There maybe a few lounges (sofas and chairs )scattered in various places but THERE IS NO STUDENT CENTER or STUDENT UNION FACILITY In the WILF CAMPUS as of 2006.

  13. Moshe

    I am a foreig student at Wilf campus, in Y.U. I think that Mr. Stanton is in a big and long dream with the Y.U. community as a Julieta was dreaming with the coming of her Romeo (famous movie). Mr. Stanton must know that many of the foreign students finish Y.U. with $30,000 average of debt plus 5% interest, and the wonderful news is that as foreign student is very hard to find a job and repay that money.
    Also, where does the money from gift go??.
    Possible answers: 5th floor of Furst?, or 7 th floor or 12th floor of Belfer Hall?
    Please, if somebody can help me to understand I appreciate.
    shalom

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