UH given $50M by unnamed supporter
The University of Houston has accepted its newest challenge — and its largest donation ever.
The university announced Thursday at its board of regents meeting that it has received a $50 million gift from an anonymous donor, which will be used to create a matching endowment program to foster new professorships, recruit top faculty and establish four institutes to address major societal issues, the university said in a news release.
The donation, called the “Aspire Fund: The $50 Million Challenge,” is the university’s largest contribution to UH’s “Here, We Go” fundraising campaign, which surpassed its $1 billion goal earlier this year ahead of its August 2020 deadline. The funds will help establish four institutes that will tackle issues in relation to energy, infrastructure, precision medicine and global engagement, as well as hire faculty and establish endowed chairs and professorships to help lead and run the corre
sponding programs.
The gift, however, comes with some conditions.
It will require the university to match or raise another $50 million in investments from other donors, which could double the amount raised to $100 million.
UH President Renu Khator has eagerly taken on that challenge and considers the generous gift a great motivator.
“To me, it signals that people really do believe in the momentum of the university” and believe the school should have the best chance of competing nationally, Khator said. “This is going to completely transform our academic and research (opportunities) … and empower what we already have and take us to the next level of excellence.”
“We are very excited, very thrilled and very grateful to this anonymous donor for believing in us, in Houston and helping us reach our dreams,” Khator added.
Tilman Fertitta, chairman of the UH System Board of Regents and owner of the Houston Rockets, said he’s met the anonymous donor, who is the CEO of a major company and a veteran who has been philanthropic throughout the individual’s life.
The institutes will be interdisciplinary.
The audience drew a standing ovation at the regents meeting.
Khator rallied the room with a final expression of excitement and celebration.
“Go Coogs!” they said in unison. Eloise Brice, vice president for university advancement, said that fundraising for the matching program has begun — effective immediately — and that no deadline has been set for when the full $50 million should be met.
“This gift creates an environment to attract both the world’s best and brightest faculty and also its top-flight students,” Brice said in a written statement. “These new institutes will motivate and educate students to pursue challenging areas of study, particularly in the STEM and health sciences fields. It takes UH to an entirely new level.”
In addition to the gift and the university’s expectation of raising another $50 million, UH will also seek funds from the state through the Texas Research Incentive Program and the Governor’s University Research Initiative.