"A transformational gift of this size provides our university with the unique opportunity to build capacity for the future by increasing our endowment, ensuring an ongoing revenue stream from earnings that will support the university and our mission into perpetuity, said Sandeen in an email to this news organization. In the coming new year, we will share the framework for how this gift will be used and provide opportunities for staff and faculty input and ideas as we work through the process."
"Sandeen said in a LinkedIn post she was proud of how the university has been able to elevate its visibility, strengthening our story, and staying centered on our students and the vibrant East Bay region we serve. This grant ensures this mission will continue now and far into the future. Thank you, East Bay, for your confidence, and thank you, MacKenzie Scott, for this transformational moment in our university's history, wrote Sandeen."
California State University East Bay received a $50 million gift from MacKenzie Scott, the largest single donation in the university's history. The gift is intended as a transformative investment to increase the university's endowment, create an ongoing revenue stream from earnings, and support institutional mission and student success into perpetuity. University leadership plans to share a framework for allocating the funds in the coming year and will solicit staff and faculty input. The president emphasized elevated visibility and a focus on students and the East Bay region. Cal State East Bay enrolls about 13,000 students and offers more than 130 fields of study.
Read at www.mercurynews.com
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