Charles Koch, an American billionaire and a philanthropist, contributes tens of millions of dollars to George Mason University every year. The university which is located in Fairfax, Virginia, is the largest institution in the state. The university has become prominent for economics and law and this reputation is attributed to the generous contributions from Charles Koch.
Tax records reveal that the university received almost $48 million from Charles Koch Foundation between 2011 and 2014. In that period, Charles Koch also made donations to many other universities in the United States. However, George Mason University happened to receive more than any other institution.
It is not unusual for billionaire philanthropists to donate to universities. They all do so for a particular purpose such as to promote research. In this year, Stanford University received $ 400 million from Phil Knight, who is the co-founder of Nike Inc, as a scholarship donation. Charles and his brother, David, have also made huge one-time donations to several other U.S. universities.
It is a common thing for donors to make donations with strings attached. However, the representatives of Charles Koch have made it clear that the contributions are made with no conditions. The donations are very helpful considering the fact that the public support for institutions of learning is declining.
2014 is the last year in which the records for donations are available. That year, GMU received donations of up to $ 44.6 million. Of the private donations to the institution, the donation from the foundation accounted for more than a third.
Charles Koch continues being fond of the institution and therefore more donations are guaranteed to come. Recently, the university’s School of Law received a gift of $ 10 million from the foundation. This was accompanied by another $ 20 million from an unidentified source. These donations have boosted the school’s Mercatus Center, a think tank in the free-market that carries out research meant to educate the congressional staffers and federal regulators.
Charles Koch has been the CEO and Chairman of Koch Industries since 1967. His focus and dedication to social and scientific progress is what has made Koch Industries very successful. The company has its base in Wichita, Kansas, and it is present in more than 60 countries. Koch is also a philanthropist who supports many learning institutions.