In a campus-wide Sept. 7 email, University President Paul J. Fitzgerald announced that the Koret Foundation had awarded $5 million to the University.
The donation is broken into three parts: new dining accommodations and two scholarships.
Around $4 million will account for updating the dining commons in the Lone Mountain area of campus. A new, 3,761 square foot dining pavilion will be created, and 10,800 square feet will be added to the pre-existing kitchen and dining area in the Wolf and Kettle.
“This will more than double the amount of seating for students, add a full kitchen and create a free-standing pavilion building with dining commons located on the existing lawn area and patio outside of the Wolf and Kettle,” Mary McInerney, director of development communications, said.
The dining hall, which will be a meal option for students who will live in the fall 2020 Lone Mountain Residence Halls, will have a new capacity of 306 — an increase of 159 seats.
The remaining $725,000 will go toward funding scholarships for underrepresented students and to “Make It Happen,” a graduate program in the School of Education. The funds will be split $440,000 and $285,000, respectively.
The Koret Foundation, established in 1978, was founded by Stephanie and Joe Koret. Upon their passing, the Korets donated their estate to create the private foundation valued at over half a billion dollars. This money came partly from the help of philanthropist and close friend Tad Taube and San Francisco’s Jewish community.
The Koret Foundation’s official statement says that they are “committed to strengthening the Bay Area community and nurturing the continuity of the Jewish people worldwide.”
The foundation offers grants for higher education and provide funds for universities, as well as offering individual scholarships for underrepresented students of merit.
Other funding initiatives include K-12 education, art and culture and special projects like the Koret Food Program.