End of Year Message from Board Chair Malcolm King and President Laura Sparks

Dear Cooper Union,

We hope this finds you enjoying a well-deserved break doing whatever it is that refuels you. Thanks to all of you, Cooper Union had a spectacular fall semester, and the spring semester holds great promise as well. There was much to celebrate together, and we are grateful for the commitment and hard work of students, faculty, and staff for making that possible. 

When Cooper’s Board of Trustees held its Annual Meeting earlier this month, we reflected on this momentum and on the hard work of all of you that have made this possible. We see this reflected in the ability of the Administration and Board to focus on driving Cooper’s strategic goals and wanted to share some of the highlights:

  • Financial Outlook:  The Cooper Union remains on track for the Fiscal Year 2023 budget amid a high inflationary environment. We continue to keep a close eye on how economic challenges not only affect our institution, but also how it impacts college affordability. (See Tuition below.)

As we manage the resources that help to fund the institution’s programs, operations, and scholarships, the Board approved a revised Investment Policy Statement, which includes a statement supporting investments that encompass environmental, social, and governance (ESG) criteria. We feel this is an important statement reflecting the institution’s values of responsibility toward our society and our planet, and the Investment Committee will work with Cooper Union’s investment consultant to recommend investments that incorporate these criteria while adhering to prudent investment management principles, including maintaining asset allocation ranges and target returns.

  • 0% Increase in Tuition:  Earlier this fall, the Trustees voted to hold tuition flat for the fifth consecutive year, so tuition will again remain unchanged for the 2023/2024 academic year. This is a remarkable statement not only in terms of pursuing our 10-year plan to return to full-tuition scholarships but also in the context of higher education at large. In addition, in accordance with the Plan, every student continues to receive a scholarship of at least 50% of tuition, and, on average, 80% of tuition costs will be covered for undergraduates in the 2023/2024 school year. This is the result of hard work and sacrifice among all of our faculty and staff, and we are buoyed by the institution’s ability to stay on the path to full-tuition scholarships even in the midst of an unprecedented pandemic and significant economic challenges.
     
  • Trustee News:  The past few years have seen wonderful new additions to our Board of Trustees, reflecting the excitement of leaders in New York and across the country to be part of The Cooper Union family in service of its mission and the future we are building together. Earlier this month, Trustee Joe Dobronyi was re-elected to the Board, fulfilling Cooper Union’s charter requirement that a descendent of Peter Cooper serve as a Trustee. We are grateful, as always, for Joe’s service. We are also grateful for Cristina Ross’ AR’81 contributions to the Board as her term as an Alumni Trustee concludes this year. While we will miss her steady and impactful Board service, we look forward to continuing to see her on campus for events, as she has been an active participant in our public programs. Lastly, the Board elected officers for 2023, which include both of us – Malcolm as Chair of the Board and Laura as President – as well as Aftab Hussain, Vice Chair; John Ruth, Treasurer; and Charlotte Wessell, Secretary.

We’d like to thank everyone who has inspired somebody to be part of this Cooper community and to thank those who have been inspired to invest in The Cooper Union. It is because of your repeated generosity that we have been able to steward this institution through an ambitious plan to return to full-tuition scholarships for all undergraduates while also continuing to advance our academic programs and upgrade our community spaces to keep The Cooper Union at the leading edge of our fields. 2023 will mark the midway point of the 10-Year Plan to Return to Full-Tuition Scholarships, and your support makes such an impact on our progress.

We are a community made strong by every individual, whether in the classroom between students and faculty, in the hallways among colleagues and friends, in mentorship between students and alumni, and in giving – every gift, no matter the size, matters.

We are profoundly thankful for all you do for this institution and our community. In this busy season, remember to find some time just for you to relax and recharge. Enjoy your well-earned break, and we’ll see you in 2023 for all that the spring semester will bring.

On behalf of the Board of Trustees and all of us at The Cooper Union, we wish all of you a very Happy New Year!

Sincerely,

Malcolm King, Chair, Board of Trustees & Laura Sparks, President​​​​​

  • Founded by inventor, industrialist and philanthropist Peter Cooper in 1859, The Cooper Union for the Advancement of Science and Art offers education in art, architecture and engineering, as well as courses in the humanities and social sciences.

  • “My feelings, my desires, my hopes, embrace humanity throughout the world,” Peter Cooper proclaimed in a speech in 1853. He looked forward to a time when, “knowledge shall cover the earth as waters cover the great deep.”

  • From its beginnings, Cooper Union was a unique institution, dedicated to founder Peter Cooper's proposition that education is the key not only to personal prosperity but to civic virtue and harmony.

  • Peter Cooper wanted his graduates to acquire the technical mastery and entrepreneurial skills, enrich their intellects and spark their creativity, and develop a sense of social justice that would translate into action.