Nice news: huge donation to Pitt!

Colleges and Universities A-Z University of Pittsburgh
1

<p>I just got an e-mail describing a very generous gift to Pitt in the amount of $125 million.</p>

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[quote]
PITTSBURGH—The University of Pittsburgh today announced that well-known and highly respected business leader, investor, author, and philanthropist William S. Dietrich II plans to make an historic gift of a $125 million fund in support of the University. This is the largest individual gift to Pitt in its 225-year history and is one of the 10 largest gifts made by an individual to a public university in the United States. The fund will become operational upon Mr. Dietrich’s passing.</p>

<p>Mr. Dietrich earned both his M.A. and his Ph.D. in political science from the University of Pittsburgh. He has been a member of Pitt’s Board of Trustees since 1991 and served as the Board’s chairperson from 2001 to 2003. He also has served as the chair of the Board’s Audit, Investment, and Conflict of Interest committees.</p>

<p>The first public recognition of his gift will occur this Saturday at Heinz Field during Pitt’s football game against Notre Dame. The gift takes the University’s $2 billion “Building Our Future Together” capital campaign past the $1.85 billion mark.

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<p>Such great news! </p>

<p>Pitt</a> Alumni Association E-mail</p>

2

<p>It’s really exciting. Let’s hope they will reverse that tuition hike now.</p>

3

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<p>Unfortunately the donation doesn’t even cover all the money that we lost from state funding (which is what the tuition hike partially tried to make up for). Sigh.</p>

4

<p>I think the cut amounted to only $80 million, but I am sure that tuition will never go down (at least during my 4 years here).</p>

5

<p>First off, Pitt doesn’t receive the donation until donor dies. He is only 73, so it could be awhile. However, Pitt has already stated that part of it will go toward scholarships for those in the school of Arts & Sciences. So it won’t likely affect the sticker price of tuition, etc, it could likely affect the number of individuals receiving financial or merit aid. Of course, some of it will also be going to go to funding faculty chairs, research fellowships, etc. When you consider how big the School of Arts & Sciences is, it will be dispersed very quickly.</p>

6

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<p>That was my favorite stipulation. Pitt is all “WE GOT THIS AWESOME DONATION!!!*”</p>

<p>*but uh we can’t use it for like another 15 years probs.</p>

7

<p>Pitt did get an awesome donation. I am sure Pitt can certainly use that future donation (when donor dies) as collateral for taking a loan. The donor is giving both Pitt and Carnegie Mellon a HUGE donation and having students at both schools I am very appreciative of his generousity.</p>

8

<p>[Multi-million-dollar</a> donor to CMU and Pitt has died](<a href=“http://post-gazette.com/pg/11280/1180411-100.stm]Multi-million-dollar”>http://post-gazette.com/pg/11280/1180411-100.stm)</p>

<p>He did a wonderful thing for Pitt and CMU making these arrangements before he passed away.</p>

9

<p>I am glad he got the recognition for these VERY generous donations before he died.</p>