These Are the Largest Donations to U.S. Colleges and Universities

Higher education is no stranger to donations from alums, philanthropists, and billionaires hoping to advance an institution they believe will improve the lives of students — and change the world.

In a trend of rising costs and lower enrollment, multimillion-dollar donations can give colleges the boost to not only survive but thrive. It’s common to see donations from longtime supporters, members of their college’s community, and anonymous donors who prefer to withhold their identities.

Colleges have also been using large donations to expand student financial aid, with some universities like Duke University and the Albert Einstein College of Medicine using their gifts to give students free tuition.

Johns Hopkins University is using its second billion-dollar donation from Bloomberg Philanthropies, created by alum Michael Bloomberg, to cover tuition for most medical students. The school will also use the donation to cover living expenses for students from families making under $175,000.

Bloomberg Philanthropies has cemented itself as one of the largest contributors to higher education, taking the first and fifth spot for highest known donations. The organization just invested $600 million into historically Black medical schools (HBMS), which are responsible for graduating 15% of all Black male medical students nationwide.

Recently, historically Black colleges and universities (HBCUs) have received hundreds of millions for endowments, scholarships, and university needs. HBCUs are 1890 Land-Grant institutions entitled to the same state funding as their predominantly-white counterparts. However, they’ve been underfunded since they began, leaving private organizations and donors to boost endowments.

Here are some of the biggest donations made to colleges and universities for research, business, scholarships, and even stem cells in space. Then, explore some of the biggest donations of all time to higher education.

Date: October 24, 2024

Donor: Bill Miller

Alum and businessman Bill Miller donated the largest single gift in the university’s history toward financial aid. The university will now have need-blind admissions, not considering an applicant’s family income in admissions. The university also covers tuition for qualifying students and meets 100% of a student’s financial need.

“I am pleased that this gift will make the same education attainable for students who share W&L’s core values of honor, integrity and civility and who bring different points of view, life experiences and talents that will contribute to a fuller and richer college experience.

“Being need-blind will allow Washington and Lee to attract the most highly sought-after students with a simple and powerful message: Your financial circumstances, however modest, will not prevent you from attending W&L. I hope my gift will inspire others to support this outstanding university.”

Date: October 18, 2024

Donors: Pierre “Pete” Labat and his wife, Catherine Clair Labat

The athletics department received its largest single gift in history from the donors’ estate to establish the Pierre D. Labat and Catherine C. Labat Athletic Leadership Fund and will support department expenditures, students, and coach and staff recruitment and retention. The university will also name the softball complex after the Labats in honor of the gift.

“The Labats’ generosity reflects their love for UMaine and their belief in the role athletics can play in helping young people develop and practice self-discipline in the personal, academic, and career aspects of their lives,” said University of Maine Foundation President and CEO Jeff Mills.

Date: October 9, 2024

Donor: The Baustert Family Foundation

Northern Illinois University’s (NIU) largest donation in history will fund the new Baustert Bahwell Health Technology Center for health professions and interdisciplinary research. The center will have new labs, study and collaboration spaces, and technologies.

“This historic gift allows NIU to realize fully our vision of ‘building for a healthier tomorrow’ by creating a modern space designed to foster innovation, transdisciplinary collaboration and interprofessional practice, and will enable our students and faculty to deliver on the promise of health care technology to improve patient care and health outcomes,” said NIU President Lisa Freeman.

Date: October 3, 2024

Donor: Tadashi Yanai

Tadashi Yanai — philanthropist, president and CEO of Fast Retailing, and founder of Uniqlo clothing brand — donated the largest single gift to the College Division of Humanities. The gift will go to the Japan Past & Present Initiative to make UCLA a global leader in Japanese humanities and promote equitable research access, teaching resources, and collaboration worldwide.

“I am proud to support the study of Japanese humanities at UCLA and around the world because I believe in sharing and valuing the practices and artforms that shape our world,” Yanai said in the press release. “The humanities and arts make us who we are — they enable us as humans to relate to and care for one another. I look forward to seeing how Japan Past & Present will expand and enrich this critical work.”

Date: October 1, 2024

Donors: Clifford Asness and John Liew

The university is naming the Booth School of Business’ newest degree offering the “Asness and Liew Master in Finance” in honor of the two donors. Alums Clifford Asness and John Liew co-founded AQR, a global investment management firm, in 1998.

“When I think about the difficulties of professional and intellectual success I think ‘there but for the grace of Chicago go I!’ Everyone needs some luck in life, and my great luck was being there when I was,” Asness said in the press release. “This chance to give something back—helping make Chicago for others what it was for me—is beyond gratifying. Thank you, Chicago.”

“It’s hard to overstate the impact that our time at Booth had on us professionally,” Liew said. “We literally built our careers and our business around what we learned. This really is the least we can do.”

Date: October 1, 2024

Donor: Anonymous

An anonymous donor is helping expand the University of Chicago Forum for Free Inquiry and Expression, a forum dedicated to hosting events and initiatives for free speech. The Forum began in 2023 and has hosted students, faculty, experts, and guests to discuss subjects like the war in Gaza and impactful U.S. Supreme Court cases.

“Like many other societies, the United States is grappling with issues related to free expression, including misinformation, a polarized media environment, and a rising censoriousness,” said Tom Ginsburg, faculty member and inaugural faculty Forum director. “We want the Chicago Forum to build on the University’s traditions as the place for cutting‑edge thinking to address today’s challenges.

“We also want every student to have the experience of speaking their mind and the possibility of changing it in conversation with others. This transformative gift will allow us to build upon what we’ve started and have a much larger impact.”

Date: August 27, 2024

Donors: Gary and Ayla Michelson

Dr. Gary Michelson, a surgeon, inventor, and philanthropist, and his wife Ayla Michelson donated to kickstart the California Institute for Immunology and Immunotherapy hosted in the abandoned mall-turned research park.

The gift designates $50 million to rapid vaccine development, $50 million to utilizing the microbiome towards human health, and $20 towards grants to advance immunology and vaccine research.

“Immunology is the mediator of nearly all human diseases, whether we’re talking about cancer or heart disease or Alzheimer’s,” Michelson said in the press release. “The vision for this institute is to become a ‘field of dreams’ — the world’s leading center for the study of the immune system to develop advanced immunotherapies to prevent, treat and cure all of the diseases that afflict people today and to end these diseases in our lifetime.”

Date: August 22, 2024

Donors: Roy and Diana Vagelos

Roy and Diana Vagelos donated the historic gift to fund the medical school’s Roy and Diana Vagelos Institute for Basic Biomedical Science. The gift will also expand infrastructure, support research, and open a new building. The new 55,000+ square foot biomedical research building will be named the Vagelos Innovation Laboratories after the donors.

This is their second recent gift to Columbia after a March 2023 donation, which created the Vagelos Institute for Biomedical Research Education.

“The legacy of Roy and Diana Vagelos at Columbia University and in the world of philanthropic support for biomedical research and education was already well established before the announcement of this historic gift,” Columbia wrote. “They are unique benefactors guided by laudable values that became guiding principles for our school.

“Their sustained commitment to education, scientific research, and human health, in general—and to Columbia, in particular—is simply unmatched.”

Date: August 8, 2024

Donor: Merrilee Kick

Merrilee Kick, Texas Woman’s University alum, and founder and CEO of alcoholic beverage company BuzzBallz donated a historic $30 million to the college of business. The donation will fund an innovation and entrepreneurship institute, an endowed chair, a new building, and an entrepreneur-in-residence program where an entrepreneur can provide in-house expertise. Each program and the college of business will be named after Kick.

“My MBA from TWU enabled me to write a solid business plan for what became BuzzBallz, a billion-dollar company,” Kick said in the press release.

“As a former educator and child of educators, teaching the next generation is important for our future. As my parents said, ‘A good teacher makes a difference.’ I have had some good teachers — and parents — who really cared about me and my success, and I am committed to make that happen for others, to make the world a better place.”

Date: August 6, 2024

Donor: Bloomberg Philanthropies

Bloomberg Philanthropies, created by former New York City mayor, and businessman Michael Bloomberg, donated a historic $175 million each to the three HBMSs to grow their endowments. The donation is part of the organization’s initiative to “accelerate the pace of Black wealth accumulation and address systemic underinvestment in Black communities.”

Bloomberg surpassed his last donations to these three universities in 2020 when he broke the record for the largest donations to HBMS with $100 million to four schools.

“We have much more to do to build a country where every person, regardless of race, has equal access to quality health care – and where students from all backgrounds can pursue their dreams,” Bloomberg said in a press release. “Addressing health disparities and underrepresentation in the medical field are critical challenges, and Bloomberg Philanthropies is dedicated to making a difference.

Date: June 1, 2023

Donor:The Simons Foundation

The Simons Foundation, founded by Marilyn and Jim Simons, gave the unrestricted gift for the university to use wherever it sees fit. The university said it plans to use the funding for scholarships, endowed professorships, research, and clinical care.

The foundation’s gift will also help give those from underserved communities the opportunity to reach their full potential. We look forward to seeing this institution continue to thrive.”

New York City also recently selected the university to be the anchor institution for the New York Climate Exchange, a climate research hub and campus on the city’s Governors Island.

“As a Stony Brook graduate, I know firsthand the role that a quality education plays in the trajectory of one’s life,” said Marilyn Simons. “I am proud of the education I received there. Jim and I want to ensure that Stony Brook continues to serve its students with the highest level of educational excellence and with world-class resources.

Date: June 24, 2015

Donors: Phil and Penny Knight

The Nike co-founder and his wife pledged $500 million as part of a $1 billion fundraising challenge to support early detection of lethal cancers. The university used the total $1 billion to build a new research facility and cancer care clinics for expanded clinical trials.

“Penny and I have total confidence in Brian Druker and the entire OHSU Knight Cancer Institute team to put a stop to a disease that touches each of our lives,” said Phil Knight.

“We are more convinced than ever that cancer will meet its match at OHSU, and we are proud to play a role in this history in the making.”

Date: July 6, 2021 and Oct. 18, 2016

Donors: Phil and Penny Knight

The Nike co-founder and his wife first donated $500 million to the university in 2016, which created the Phil and Penny Knight Campus for Accelerating Scientific Impact. The building, completed in 2020, was able to expand after the second gift by creating more faculty positions and a second building.

“There is no greater vote of confidence in our success than the Knights’ decision to double their investment in the Knight Campus. This gift will help provide opportunities for students, faculty, the university, and our state to reach new levels of discovery, innovation, and collaboration,” the university wrote in a 2021 statement.

“Please join us in thanking the Knights and the scores of individuals who helped make this University of Oregon’s moonshot of a dream into a stunning reality.”

Date: December 7, 2021

Donors: Mark Zuckerberg and Priscilla Chan

The donation, spread over 15 years, went to create an institute for artificial intelligence and neuroscience named after Zuckerberg’s mother. The donation created 10 new faculty positions, new computing infrastructure, and more student resources at all levels.

“Priscilla Chan and Mark Zuckerberg have demonstrated a remarkable commitment to promoting discovery, innovation, and service at Harvard and other academic institutions around the United States,” said President Lawrence S. Bacow.

“From supporting the study of COVID-19 treatments and advancing literacy research, to boosting public service opportunities for undergraduates, they have shown a genuine commitment through their work at the Chan Zuckerberg Initiative and beyond to curing disease, improving lives, and encouraging others to serve.”

Date: June 8, 2021

Donors: Anonymous

The anonymous alums’ donation gave $200 million to the university, $300 million for the medical school, and $50 million for the athletics department. According to the university, the donors’ gift reflected their belief in diversity, equity, and inclusion in higher education.

“Like Western, our donors are committed to a future that truly provides opportunity for everyone to advance,” said President Edward Montgomery.

“In order to empower our future, we must break down the barriers created by historic inequities. This gift is an important step in leveling the playing field and putting quality education in reach for students from historically underrepresented populations.”

Date: October 29, 2001

Donors: Gordon and Betty Moore

Intel co-founder Gordon Moore and his wife, Betty, donated half of the $600 million, and their foundation donated the other half. The funds were set apart for education and science programs at Caltech. The Moores’ donation distributed $300 million across five years, while the foundation’s was spread across a decade.

“Caltech has a unique ability to do multidisciplinary work — partly because of its size and partly because of its history. It is described as being a national treasure and it certainly is,” said Gordon Moore. “The education I received there has served me well. We are hoping this gift will position the institute well as it moves forward.”

Date: November 15, 2017

Donors: Florence and Herbert Irving

Florence Irving and her late husband donated to advance cancer research and clinical care. They donated more than $900 million total to both institutions over three decades. In 2016, the two institutions renamed the shared medical campus, “Columbia University Irving Medical Center” and “NewYork-Presbyterian/Columbia University Irving Medical Center.”

“Herbert and I have always been proud to help the terrific doctors at Columbia and NewYork-Presbyterian,” said Florence Irving.

“It meant everything to him to be able to support world-class research and caregiving that makes a difference in people’s lives. I am honored, as he always was, to be associated with these great institutions and the special people who make them what they are.”

Date: September 26, 2019

Donors: Stewart and Lynda Resnick

The donation from the philanthropist couple went to support sustainability research through interdisciplinary work in physical sciences, life sciences, and engineering. The institute also pledged to build a 75,000-square-foot building in their name to serve as a hub for sustainability research and laboratories.

“In order to comprehensively manage the climate crisis, we need breakthrough innovations, the kind that will only be possible through significant investment in university research,” said Stewart Resnick. “Science and bold creativity must unite to address the most pressing challenges facing energy, water, and sustainability.”

Date: July 8, 2024

Donor: Bloomberg Philanthropies

Bloomberg Philanthropies, alum Michael Bloomberg’s organization, donated $1 billion towards graduate financial aid, covering tuition entirely and, in some cases, living expenses for about two-thirds of university medical students. The assistance is available to any medical student from a family making less than $300,000, which is about 95% of Americans, according to the university.

The funding will also provide need-based scholarships and fellowships for graduate students in nursing, public health, education, engineering, business, arts and sciences, advanced international studies, and the newly formed School of Government and Policy.

“As the U.S. struggles to recover from a disturbing decline in life expectancy, our country faces a serious shortage of doctors, nurses, and public health professionals — and yet, the high cost of medical, nursing, and graduate school too often bars students from enrolling,” Bloomberg said in a statement.

“By reducing the financial barriers to these essential fields, we can free more students to pursue careers they’re passionate about — and enable them to serve more of the families and communities who need them the most.”

Date: July 21, 2023

Donor: Anonymous

The small Kansas liberal arts college with 40 programs of study known for its automotive restoration technology degree received a commitment in November from an anonymous donor, which will fund engineering programs, health sciences programs, and student debt relief. The donor matched $2 for every dollar the college raised, up to $500 million.

The donor surprised the college with another $500 million commitment after it completed the challenge at the end of June. The college will receive the donation over time or in full upon the donor’s death.

According to McPherson, its over-$1.5 billion endowment is the largest in history for a small liberal arts college.

“Now, the work begins to build a bridge to our future endowment,” said President Michael Schneider. “We need to carefully plan how the income from the endowment is deployed to reimagine and construct the campus of the future, build a much-needed rural health pipeline in Kansas, create a center for the future of automotive engineering and work to make college more affordable for all our students. There has never been a better day to be a part of the McPherson College community!”

Date: February, 26, 2024

Donor: Ruth L. Gottesman

Ruth L. Gottesman, chair of the board of trustees at the college and longtime donor donated what seems to be the largest gift ever to a medical school to give all students free tuition starting in August, 2024. All current fourth-year students will receive tuition reimbursement for the spring 2024 semester.

The college and Gottesman hopes removing tuition will increase the diversity of students who would otherwise not be able to afford medical school.

“Each year, well over 100 students enter Albert Einstein College of Medicine in their quest for degrees in medicine and science,” Gottesman said. “They leave as superbly trained scientists and compassionate and knowledgeable physicians, with the expertise to find new ways to prevent diseases and provide the finest health care to communities here in the Bronx and all over the world.”

Date: May 4, 2022

Donors: John and Ann Doerr

This donation announced in May 2022 created Stanford’s first new school in 70 years, the Stanford Doerr School of Sustainability. The school focuses on studies including climate change, sustainable cities, food and water security, and human health and the environment.

“This new school will accelerate scholarship and solutions to pressing challenges facing the earth, climate, and society,” John Doerr tweeted. “It is the result of visionary thinking about the role of the university and our shared ambition to make a measurable impact on the climate crisis.”

Date: November 18, 2018

Donors: Michael Bloomberg

Michael Bloomberg donated to permanently increase undergraduate financial aid at the university.

“Denying students entry to a college based on their ability to pay undermines equal opportunity,” Bloomberg said. “It perpetuates intergenerational poverty. And it strikes at the heart of the American dream: the idea that every person, from every community, has the chance to rise based on merit.”