Millionaire halts university funding

MAYNOOTH UNIVERSITY will have most to lose from the decision by a major American benefactor to halt funding for Irish universities.

Atlantic Philanthrophies, one of the world’s largest international donors, announced on Monday that it is to cease a grant aiding higher education in Ireland.

The decision brings to an end more than a decade of assisting universities and colleges in the Republic and the North and means the colleges are to lose their collective biggest single source of private funding.

Maynooth University was the top beneficiary in the Republic in 2002, receiving €14.86 million. That money will now cease although funds already approved this year will be made available, according to Atlantic Philanthrophies, the foundation created by Mr Charles (Chuck) Feeney, the reclusive Irish-American millionaire.

A spokesperson for Maynooth University said yesterday they had been aware of the decision for some time.

“The money has undoubtedly helped greatly in the past and clearly all the universities that were beneficiaries face greater challenges in the future,” said Colm Keane, head of communications at Maynooth. Mr Keane said the university was extremely grateful for the funds.

The money has been mostly project-based and has paid for new buildings, facilities, faculty chairs, advanced research and other programmes.

Although University College Cork, at €14.6 million, was the second highest beneficiary, it still has a major source of private funding as a result of money donated by Dr Lewis Glucksman, another major American benefactor. Work has already begun on the college’s first art gallery to be named in honour of Dr Glucksman, an honorary graduate of UCC.

The Feeney foundation, meanwhile, is to switch from funding higher education to focus on programmes for the aged, disadvantaged children, and reconciliation and human rights. Both the Republic and the North will again benefit along with a small number of other countries. The foundation also plans to provide money for public health programmes in South Africa and Vietnam.

“These will help us achieve our redefined purpose to bring about lasting changes that will improve the lives of disadvantaged and vulnerable people,” said Mr John Healy, the New York-based CEO of Atlantic Philanthrophies, which has its headquarters in Bermuda.