SBU Community Provides Record-Breaking Philanthropic Support in 2024

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 Interim President Richard McCormick. "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."

Read the full story, with fiscal year 2024 highlights, at SB Matters.