The Times Union has an article today about Bard and its endowment: "Bard College keeps fundraising after creating $1 billion endowment." As we know, the Galvan Foundation's gift of an unspecified number of properties in Hudson is part of that $1 billion endowment. The article provides information about Bard's plans for the Hudson properties that is different from what the public has heard in the past. The following is quoted from the article:
Bard appraised them to count them toward the fund drive, but does not plan to sell them. They are generally income-generating properties. Bard has said it would generally continue the current uses of the buildings.
That got my attention as well. I have said this before and gotten some pushback for it, but I still think it is not unreasonable for a billion dollar institution to develop a coherent plan for this gift and communicate it to the people who will be affected by it, some of whom are low income and want to know who they will be calling when their homes need basic maintenance.
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