Dividing the Bloomberg Donation Allows a Lot to Go a Long Way


Dennis O'Shea
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Homewood News and Information

     Michael Bloomberg says the reason for splitting his record
$55 million gift to Johns Hopkins nine ways  is simple:
"Universities require all the parts."

     Bloomberg, owner of Bloomberg Financial Markets, is a 1964
electrical engineering graduate. He has previously given the
university $8 million, mostly for Arts and Sciences, but said
this time he wants all eight academic divisions and the
Eisenhower Library to benefit from his gift.

     The shares for four schools--Public Health, Engineering,
Peabody and Continuing Studies--represent in each case one of
their three largest private gifts ever.

     Of the total, 80 percent, or $44 million, will go into
endowment. That's the primary focus of the $900 million Johns
Hopkins Initiative, the fund-raising campaign that Bloomberg
chairs. The remaining $11 million is for capital projects, both
at Homewood and in East Baltimore.

     Some of the gift will be used as challenges, essentially an
offer by Bloomberg to match the contributions of other donors to
Hopkins. It is now being decided which divisions will use their
share this way, said Robert R. Lindgren, vice president for
development and alumni relations. Challenges from other donors
are already under way in Arts and Sciences and at the Milton S.
Eisenhower Library.

     Bloomberg is donating $20 million to the School of Hygiene
and Public Health and $15 million to the Whiting School of
Engineering, both for endowment and both the largest gifts in the
schools' histories. Another $4 million goes to the endowment of
the Nitze School for Advanced International Studies, with an
additional $500,000 each earmarked for the Bologna and Nanjing
centers. Additional endowment gifts: The Peabody Institute
receives $2 million, equaling the second-largest private gift in
its history. The School of Continuing Studies receives $1
million, its third-largest donation, and the Eisenhower Library
also receives $1 million.     

     Johns Hopkins Medicine will receive $5 million, bringing its
campaign to build a new cancer treatment center and a cancer
research building within about $15.5 million of its $91 million
goal for private gifts. There has also been considerable support
from the state of Maryland for the $147 million projects, and the
university and health system are seeking more.

     The School of Nursing will receive $1 million toward its new
building.

     Bloomberg designated $4 million for a student arts center
and $1 million for a recreation center, both at Homewood,
benefiting primarily students in the School of Arts and Sciences
and School of Engineering.

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How Bloomberg's $55 
million gift will be divided
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Endowment--$44 million 

Capital projects--$11 million

School of Hygiene and Public Health--$20 million

Whiting School of Engineering--$15 million 

Nitze School of Advanced International Studies--$4 million 

Bologna Center--$500,000

Nanjing Center--$500,000

Peabody Institute--$2 million 

School of Continuing Studies--$1 million

The Milton S. Eisenhower Library--$1 million

Johns Hopkins Medicine--$5 million

School of Nursing--$1 million

Homewood-based student arts center--$4 million

Homewood-based recreation center--$1 million