NCSU Receives $50M Gift


I realize today is a college football Saturday, but I didn’t want this to go unnoticed.

I can’t overstate how important this is.  Not to mention how freaking amazing….

NC State receives $50 million gift – the largest in school history (

— N.C. State University has received the largest single gift in its history – $50 million – to provide scholarships, the school’s administration and the Park Foundation announced Friday.

The donation puts the university closer to funding its most prestigious scholarships “in perpetuity,” said Chancellor Randy Woodson.

“The earnings from the endowment will ensure, as long as there’s an N.C. State University, that there will be a Park Scholars program that funds scholarships to the best and brightest students,” he said.

Until now, the Park Foundation – created by the late Roy Park, class of 1931 – has sustained the scholarship program with yearly grants. Friday’s announcement puts the scholarship in the university’s hands. NCSU plans to raise an additional $100 million and then fund the scholarships indefinitely with investment profits from the new pool of money.


The gift is the high-water mark of Woodson’s three-year push to supplement public money and tuition with private backing. In his three years on the job, the university has grown its endowment almost 70 percent, to $769 million.

The chancellor shed “a few tears of joy” in his office when he heard this spring that the deal had been finalized, he said.

The $50 million sum matches the largest single gift ever received by rival UNC-Chapel Hill, and it should qualify for a spot on The Chronicle of Higher Education’s list of the largest private gifts to higher education, which ranges from $50 million to $600 million for single schools in the United States.

Chancellor Randy Woodson continues to address the needs of NC State University.  He’s made no secret of the fact that NCSU’s endowment needed bolstering in a huge way.

I can’t overstate how much I love THAT guy either.

Please, if you didn’t already do so, click the link and read the entire article.  I know some of you don’t wish to give the N&O the page hits…but Chancellor Woodson has more than earned the read on this one.

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About Wufpacker

A 2nd generation alumnus and raised since birth to be irrationally dedicated to all things NC State. Class of '88 and '92.

Campus News NC State Administration

8 Responses to NCSU Receives $50M Gift

  1. BJD95 09/28/2013 at 9:16 AM #

    Woodson is indeed awesome and the N&O has redeemed itself (mostly) in recent years. As long as the excellent Joe Giglio keeps running lead on the sports page, I will respect their coverage overall.

  2. Wufpacker 09/28/2013 at 9:41 AM #

    Yep, I love me some Randy.
    And I too have mostly gotten past the “bad taste” of the N&O’s past “bad doings”.

  3. triadwolf 09/28/2013 at 10:47 AM #

    It’s great news and just further emphasizes that NC State now has top notch leadership.

    If I recall correctly, didn’t we recently have another “biggest donation ever” within the last year or two? Including the donation from Lonnie Poole that contributed to the golf course, that’s three very large recent donations.

  4. DC_wolf 09/28/2013 at 12:46 PM #

    Nice PNG, Wuf. My 1st, & still favorite, t-shirt as a kid had that seal on it.

    And thanks for posting the story. Great news for the best university in the state; Woodson’s going to choke on all that steak!

  5. Wufpacker 09/28/2013 at 12:58 PM #

    Agreed DC…I wish the seal was used more often in fact.

    But one can’t stand in the way of “progress” I suppose.

  6. 44rules 09/28/2013 at 1:19 PM #

    DC, my father gave me a watch with that seal on it when I graduated. Decades later, it’s the only watch I still own.

  7. 4in12 09/28/2013 at 5:24 PM #

    My daughter was a finalist for a Park Scholarship. I was very impressed with how the whole process worked. The Park Foundation is a class act.

    Before this endowment, the scholarships were funded year-to-year. Now the University will know the funds are available.

  8. blpack 09/28/2013 at 11:25 PM #

    Great news for NC State.

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