Ronald Stanton, a prominent member of YU's board and a strong supporter of YU's president Richard Joel, has donated $100 million to YU. The New York Times reports:
When he was 14, Ronald P. Stanton turned down the offer of a private scholarship for study at Yeshiva University to become a rabbi. But Mr. Stanton, a businessman, has had a close relationship with Yeshiva for the last 30 years, as a trustee, as chairman, and as head of a fund-raising campaign that raised $400 million. Now 78, he has become the university’s largest donor.
Yeshiva, a comprehensive university under Jewish auspices, announced yesterday that Mr. Stanton was giving it $100 million, which it says is the largest single gift ever to support Jewish education in the United States. “This breaks the glass ceiling both for Yeshiva and for Jewish life,” said Richard M. Joel, the president of Yeshiva, which has about 3,000 undergraduates as well as schools of law, medicine, business and other disciplines, and a rabbinical seminary.
Mr. Stanton said that he had planned to make a big gift to Yeshiva for some time, and that he would give the university the money in installments over the next 5 to 10 years.
His gift will establish the Ronald P. Stanton Legacy, and will go to recruit faculty members, erect new buildings, pay for research and give the president the ability to move quickly on initiatives without having to wait for other donors. Assets drawn from the fund will be replenished as other gifts are received.
Mr. Joel said he expected the Stanton donation to lead to others of the same size. “I certainly expect there to be a second,” Mr. Joel said.…
Stanton is the founder and head of Transammonia, Inc., a privately held energy corporation Forbes lists as the 35th largest company in the United States.
[Hat tip: Professor Gershon Mendel.]