Key Takeaways
- • George Soros pledged $500 million to Bard College, one of the largest gifts ever made to higher education in the United States, according to Bard's announcement.
- • Bard has already raised an additional $250 million from trustees, alumni/ae, and friends, and will raise another $250 million over the next five years.
- • The gift and matching funds launch a $1 billion endowment drive, which would be the college's largest endowment ever, starting with $750 million.
- • Bard President Leon Botstein described the moment as the most historic in the college's history since its founding in 1860.
Summary
Bard College has announced a $500 million endowment pledge from philanthropist George Soros, a long-time supporter of the college. The college describes the challenge as among the largest ever made to higher education in the United States. Bard said the gift will strengthen its educational and social initiatives and establish its most substantial endowment to date.
In response to Soros's challenge, Bard reported that it has raised an additional $250 million from supporters including trustees, alumni/ae, and friends. The college plans to raise another $250 million over the next five years. Together with the Soros pledge, these commitments set up a $1 billion endowment drive. Bard said the Soros pledge and its matching contributions will begin the drive with $750 million.
Bard President Leon Botstein called the announcement "the most historic moment since the college's founding in 1860." He said the expanded endowment would ensure the college's mission and academic excellence, support equity in financial aid, reform the relationship between higher education and secondary education, promote international education, and defend the arts, humanities, and basic science. Soros said Bard has had an "outsized impact" in liberal arts education in prisons, among high school students, in the arts, and in its international work.
Bard is known for its undergraduate liberal arts program, its emphasis on the arts, and civic engagement. Its initiatives include the Bard Early Colleges, the Bard Prison Initiative, and international partnerships such as Al-Quds Bard and the American University of Central Asia. Soros is also a founding partner, alongside Bard, of the Open Society University Network, created with the Central European University in partnership with the Open Society Foundations. The gift will fund the college's financial aid, faculty, and programs, and support its international profile. Founded in 1860, Bard is a four-year residential college located 90 miles north of New York City.
In response to Soros's challenge, Bard reported that it has raised an additional $250 million from supporters including trustees, alumni/ae, and friends. The college plans to raise another $250 million over the next five years. Together with the Soros pledge, these commitments set up a $1 billion endowment drive. Bard said the Soros pledge and its matching contributions will begin the drive with $750 million.
Bard President Leon Botstein called the announcement "the most historic moment since the college's founding in 1860." He said the expanded endowment would ensure the college's mission and academic excellence, support equity in financial aid, reform the relationship between higher education and secondary education, promote international education, and defend the arts, humanities, and basic science. Soros said Bard has had an "outsized impact" in liberal arts education in prisons, among high school students, in the arts, and in its international work.
Bard is known for its undergraduate liberal arts program, its emphasis on the arts, and civic engagement. Its initiatives include the Bard Early Colleges, the Bard Prison Initiative, and international partnerships such as Al-Quds Bard and the American University of Central Asia. Soros is also a founding partner, alongside Bard, of the Open Society University Network, created with the Central European University in partnership with the Open Society Foundations. The gift will fund the college's financial aid, faculty, and programs, and support its international profile. Founded in 1860, Bard is a four-year residential college located 90 miles north of New York City.
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