Simons Foundation gives record $500M gift to Stony Brook University

BY DANIEL DUNAIEF DESK@TBRNEWSMEDIA.COM

Stony Brook University’s former Math Department chair is making history.

$1.2 billion to a university that Gov. Hochul declared a flagship of the state university system in 2022.

“I’m so happy to be here today, to be able to give back to Stony Brook, which has given so much to me,” Marilyn Simons said at the press conference.

University

Jim Simons, with his wife Marilyn and through the Simons Foundation, is giving the largest ever unrestricted gift of $500 million to the university’s endowment.

The donation, which the Simons Foundation will provide in installments over the next seven years, will more than double the endowment for the SUNY flagship school.

As a part of a program Governor Kathy Hochul (D) created last year, New York State will provide a one-to-two endowment match while the school, with support from the Simons Foundation, reaches out to other donors for additional support.

SBU expects the gift to total about $1 billion.

“Today is indeed a historic day for Stony Brook University,” President Maurie McInnis said during a press conference at the Simons Foundation headquarters in Manhattan on June 1. “I cannot overestimate the tremendous impact” the gift will have.

The university anticipates using the gift, named the Simons Infinity Investment, for student scholarships for a diverse student body, endowed professorships, research initiatives, development of new academic fields and clinical care.

McInnis, who is the sixth president of SBU, suggested this kind of support helped create and shape some of the nation’s most prestigious universities, including Harvard and Yale.

Looking at how they started, “you’ll find that they were bolstered by generous supporters who were ambitious and wise enough to see the potential of the institutions and invest in the future,” McInnis said at the press conference. “Because of those supporters, look where they are now. That is the trajectory we are on,” thanks to the support from Jim and Marilyn Simons and the foundation president, David Spergel.

McInnis believes the funds will help make the university a place where every student meets their potential, thanks to the support and the “deep sense of belonging in every corner of campus.”

The funds would also help ensure that researchers have access to the “best labs and equipment” so they can “chase the next discovery” and where learners will come to the university because they “know they have the resources they need to make a difference.”

History of giving

The Simons family has a long history of giving back to the university, which was so important in their lives.

Starting with a much more humble gift of $750 in 1983, the Simons family, with this gift and other recent commitments, have pledged

When she started as a student at Stony Brook, Marilyn said her father was a subcontractor who, along with her brother and cousin, did some of the brickwork at university buildings.

In addition to earning her bachelor’s at Stony Brook, Marilyn Simons also earned her Ph.D.

“I’m grateful to Stony Brook for all it’s given me,” she said. “I hope many others will invest along with us.”

Jim Simons became chairman of the Math Department when he was 30. He hired 10 faculty in his first year and the same number in his second.

When Hochul stood up to speak, Simons interrupted her.

“I’ve known” all six presidents of Stony Brook, the former Math Department chair said. McInnis “is the best.”

Hochul appreciated the direction and vision of SBU’s leadership, recognizing the sizeable financial commitment the state would now have to meet.

When she came up with the endowment idea, “I didn’t realize it was going to be so expensive for me,” Hochul laughed. If that inspired the Simons Foundation to come forward, “it was worth it.”

A public institution like Stony Brook “has no limits right now,” Hochul added. “I guarantee across the world, they’ve all heard of Stony Brook right now.”

A winning streak

The $500 million gift from the Simons Foundation continues a winning streak, making 2023 a memorable and landmark year for the university.

A few weeks ago, Stony Brook, with a $100 million commitment from the Simons Foundation, won the state’s contest to turn Governors Island into a center for climate science called the New York Climate Exchange. [See story, “SBU will develop $700M climate center on Governors Island,” April 26, TBR News Media website.]

The center, which will cost $700 million to construct and is expected to open in 2028, will house research laboratories, host community discussions and train 6,000 people per year to work in green energy jobs.

SBU has “shown that it has the knowledge, the authority and the boldness to bring together the most eminent institutions to address the world’s leading challenges,” McInnis said.

BY RAYMOND JANIS EDITOR1@TBRNEWSMEDIA.COM

Debates over immigration continue to intensify in Suffolk County.

During a special meeting Thursday, June 1, the Suffolk County Legislature approved a procedural motion, 11-6, to hire special counsel to advise the legislative body on the legal options at its disposal concerning the relocation of asylum seekers to the county.

Advocates for and against accepting new migrants appealed to the Legislature, followed by deliberations among legislators. Legislator Rob Trotta (R-Fort Salonga) emphasized the need for proper vetting procedures, arguing that the federal government still has not created that process.

“The problem is the federal government doesn’t have a cohesive process to get people in, and this really shouldn’t be our problem,” he said. “We have to tread lightly, and I think this is a very light way of doing it — looking at our options and making sure we can afford to do this.”

Majority Leader Nick Caracappa (C-Selden) expressed concerns over asylum seekers diverting public resources from the county’s veteran and homeless populations. The procedural motion “is just another way for us to make sure that we’re all protected, and that those who do come here come with adequate resources,” he said.

Several legislators, including Kara Hahn (D-Setauket), expressed their distaste for the procedural resolution.

“It’s unfortunate that some have chosen to exploit fear and weaponize vulnerable people legally seeking asylum through legal means for political theater,” she said. “While I agree that the nation’s current immigration process is broken — and it has been for a long time — and that we do need comprehensive immigration reform, I am certain that it will not be fixed through this hollow proposal.”

Two days later, Anthony Figliola, a Republican running to fill Hahn’s term-limited seat, held a rally near Stony Brook University to oppose housing asylum seekers at the state university campus. The candidate criticized Gov. Kathy Hochul (D) for not yet signaling whether this proposal would be instituted.

“I think we have to have an open dialogue and transparency in the process, and I think what’s happening right now is that we don’t have that from the governor’s office,” he said. “This is a humanitarian crisis, and local communities are being charged with handling something that the federal government should be doing.”

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