Cooper Union

Dennis R. Young and John O’Kane

Chapter Chapter 12 in Case Studies on Nonprofit Resilience Management, 2025, pp 103-107 from Edward Elgar Publishing

Abstract: Cooper Union for the Advancement of Science and Art is a private college in New York City historically devoted to top quality education in science, engineering, architecture and the arts, accessible to qualified students regardless of economic status. From its founding in 1859 until 2014 it provided tuition-free education to all its students, financing itself from returns on its endowment and philanthropy. Following the 2008-2009 financial crisis and economic recession in the U.S., Cooper Union began to run substantial annual operating deficits. At the same time, it borrowed heavily to finance its new building. In 2013 the administration announced that it would begin charging tuition to undergraduates. Protests and lawsuits ensued, with complainants claiming that the new policy violated the institution’s historic mission. In 2015, New York State’s Attorney General announced a Consent Decree under which an independent monitor would be appointed to oversee the school’s finances and work with stakeholders to put Cooper Union on a path to fiscal sustainability.

Keywords: Tuition; Endowment; Fiscal crisis; Sustainability; Higher education; Philanthropy (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035328567
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