College receives $500,000 gift from Goldman Sachs Gives

Publication Date

Union College has received a $500,000 gift from Goldman Sachs Gives, which when combined with a previous gift of $1 million brings total support by Goldman Sachs Gives for need-based scholarships to $1.5 million over the past 12 months.

Goldman Sachs Gives is a donor-advised fund. The firm’s partners make recommendations to Goldman Sachs Gives that support non-profit and charitable organizations around the world.

The donation was made at the recommendation of David Viniar '76 and his wife, Susan. David is the chief financial officer of Goldman Sachs and a member of the College's Board of Trustees.

“I am very appreciative of the opportunities my education at Union provided me,” said Viniar. “I hope this gift will offer deserving students access to the same excellent education.”

The latest “Goldman Scholars” gift will allow the College to award up to $125,000 in need-based scholarships to members of the Class of 2015 for each of the four years they are at Union.

The College meets 100 percent of demonstrated financial need for all students. The average need-based scholarship at Union is $29,500.

“We are grateful to Goldman Sachs Gives, and David Viniar in particular, for their continued support in helping to make a Union College education affordable for talented students,” said Matt Malatesta, vice president for Admissions, Financial Aid and Enrollment.

Union College, founded in 1795 as the first college chartered by the New York State Board of Regents, offers programs ranging from the arts, sciences, humanities, social sciences and engineering to 2,100 undergraduates of high academic promise and strong personal motivation. The 575 students accepted to Union for the Class of 2015 were chosen from more than 5,000 students who applied, the second time in Union’s history that applications surpassed the 5,000 mark.

The College is among the country’s leading liberal arts colleges, according to U.S. News and World Report’s annual rankings, the Princeton Review’s “The Best 371 Colleges,” and the “Fiske Guide to Colleges,” which features 330 of the country's best and most interesting colleges and universities.

As a donor-advised fund, or a public charity, Goldman Sachs Gives maintains individual accounts for donors who recommend grants to qualified non-profit organizations.

Established in 2007, Goldman Sachs Gives enables Goldman Sachs and its people to leverage their donations to charities in the communities where they live and work, or elsewhere around the globe. The focus is on creating jobs and economic growth, building and stabilizing communities, honoring service and veterans and increasing educational opportunities.