Cash for Yale

Yale, the U.S.'s second richest private university (first: Harvard), announced plans to raise $140,000,000 within the next decade, then in the next breath, told of a windfall already harvested. The gift: $15 million from the Old Dominion Foundation established by Financier Paul Mellon. Yale '29. It will be used to strengthen the residential college system, add two new colleges. Architect for preliminary site and design studies: Eero Saarinen.

For the benefit of other benefactors, Yale made out a list of gifts -- enormous, huge or merely sizable -- that it would like to receive within five years: $14 million for graduate fellowships, undergraduate scholarships and student loans; $10 million for faculty pay raises; $6,447,000 for a new geology building, geology teaching and research ; $6,000,000 for twelve new professorships; $3,931,000 to build a new school of art and architecture, remodel the existing school; $1,000,000 for the Yale University Press.

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