On Saturday, NYU President John Sexton announced he would match every dollar donated to the 1831 Fund, the scholarship program in which donations of at least $18.31 (representing 1831, NYU’s inaugural year) are awarded to incoming freshmen and transfer students.
In 2011, the 1831 Fund received donations from 275 students. This past year’s recipients received over $85,000 in combined scholarship funds from 550 students, doubling the previous year’s recipients.
So far, 1831 Fund has reached 169 donors for a total of $3,314.00. By August 31, the program hopes to raise at least $15,000 from 1,100 students to double their support from last year. The goal amount is more likely to be reached considering John Sexton’s & Trustee Dale Hemmerdinger’s generous contributions, but the number of students willing to donate to their peers remains to be seen.
If you’re wondering why you should give $18.31 to a future student, NYU’s 1831 Fund FAQ offers some interesting arguments, including “It makes you a hero,” and “You add value to your degree by ensuring that the best and brightest are able to attend NYU in the future.” If that’s not encouraging enough, consider that the $18.31 donated by you immediately becomes $36.62, thanks to our friendly neighborhood President John Sexton. Hemmerdinger’s contribution will boost it to a nothing-to-sneeze-at $54.93.
Besides the 1831 Fund organization’s recommendations, maybe you should just donate knowing that it will cost these rich guys an infinitesimal part of their fortunes. Or, you could be a normal,cheap 20-something like us and do one of these fun things and just hope that older alumni with actual careers and saving accounts can cough up a little bit more for endowment.
And let it be noted; if you donate a whopping $250, you are inducted to the Young Alumni Leadership Circle, which (we assume) includes a cape, a golden scepter, and one of those fantastic Sexton hugs we’ve been hearing about.
As for the $17k raised so far? That’s 1/40th of the amount that ex-Executive VP Jack Lew was paid when he received a$685,000 severance bonus in 2006. But don’t worry—as National co-editor John Surico puts it,”$54.93 is 1/38764th of the total student debt at NYU. It’s all about relativity!” Fun, fun facts.
[Image 1 via, 2 & 3 courtesy of author]