/ March 4, 2013
John Sexton Announces 1831 Fund Contribution

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]