Stony Brook Community Fuels Pivotal Change Through Record-Breaking Philanthropic Support

Stony Brook University gained a record-breaking increase in philanthropic support in fiscal year 2024, raising more than $654 million, with approximately 85 percent going to endowment gifts that will continue to support the university for future generations. Since the historic $500 million Simons Infinity Investment was announced in June 2023, 10 endowed chairs and professorships, one endowed dean and 24 new endowed scholarships and fellowships have been established. With these additions, Stony Brook University has a total of 70 endowed faculty positions, up from 16 in 2011.

The increase in endowment giving has been fueled by the match issued from the Simons Infinity Investment and the New York state endowment matching challenge, which together triple the impact of endowment gifts. Through April 2026, New York state will provide $1 in state funds for every $2 contributed to university endowments at the state’s four university centers, including Stony Brook. The Simons Infinity Investment adds another incentive on top of the state match by matching any endowment gift 1:1 with unrestricted support, which the state also will match. 

“Stony Brook students and faculty have their sights set on the future to create pivotal change,” said Richard L. McCormick, interim president of Stony Brook University. “It is clear that their success is closely tied to the tremendous philanthropy from our supporters and strong partnerships we have been fortunate to build.”

Stony Brook’s sixth annual Giving Day also had a record-breaking year, with 3,800 gifts totaling $1.6 million. In just 24 hours, the community supported more than 100 programs across the university, with alumni from six countries and 38 states lending their support.

“The Stony Brook community has come forward to support the university in remarkable ways,” said Scott Barrett, interim vice president of advancement. “Because of the historic support from our alumni, friends, faculty, staff and grateful patients, Stony Brook continues to drive pivotal change for our students, conduct research that will make a significant impact on the world, improve the health and well-being of all of our communities, lead the fight against climate change and produce artistic and cultural education and programming that is accessible and enjoyable for all.”

Some other fiscal year 2024 fundraising highlights include:

Stony Brook Medicine received gifts totaling $29.7 million, including a $5.5 million endowment to fund breast cancer research. With the matches, this endowed gift will have an impact of $16.5 million. The funds will help speed the delivery of breakthrough care and treatments.

Support for the Educational Opportunity Program/Advancement on Individual Merit (EOP/AIM) program was among the 15 newly established endowed scholarships. The program is designed to assist students from historically disadvantaged backgrounds, ensuring they have access to higher education and the tools necessary for academic success. The scholarship will enable the students to accomplish more with less debt.

The Staller Center for the Arts received more than $3 million in gifts that will continue to bring the arts to the community. From its outreach programs to its star-studded lineup of performances, Staller will use the gifts to provide welcoming environments to engage in the power of the arts.

Just as the Simons Foundation did, Bloomberg Philanthropies pledged support for the New York Climate Exchange. Stony Brook University was chosen as the anchor institution for The Exchange, which is an international center for developing and deploying dynamic solutions to our global climate crisis. The gifts will help to establish The Exchange, as well as fuel related research and teaching already underway at Stony Brook. 

The Long Island State Veterans Home (LISVH) received its first-ever endowment. The support will help the LISVH continue its mission to provide high-quality and compassionate healthcare services for veterans and their families in perpetuity. 

Stony Brook’s faculty and staff stepped forward in greater numbers than ever before, collectively making a nearly $6 million impact on student support, research, clinical care and other programmatic and capital needs.

“The support of our community has made Stony Brook unstoppable,” said Justin Fincher, executive director of the Stony Brook Foundation. “Our endowment is growing faster than at any point in our history, and our future looks even brighter.” 

All of the above gifts are eligible for both the New York state endowment match program and the Simons Infinity Investment Match Challenge, which will triple the impact the endowment gifts will have on Stony Brook. For more information visit stonybrook.edu/endowments. If you have interest or questions about endowments or the match opportunities, contact Scott Barrett, interim vice president of advancement, at (631) 632-9128 or scott.barrett@stonybrook.edu.