Cornell University secured a $371.5 million pledge from alumnus David Duffield — the largest gift in the university’s history — creating legacy and launch funds aimed at engineering, research and infrastructure. The commitment follows a previous $100 million gift and will rename Cornell’s engineering college and seed flexible endowment resources. The donation arrives as many institutions report mounting financial stress a year into a new federal administration, with some program cuts, grant cancellations and heightened regulatory uncertainty showing up in budgets. Universities are recalibrating priorities while courting large private gifts to stabilize research, faculty hires and capital projects. For trustees and presidents, the Duffield pledge underscores two simultaneous realities: philanthropy can underwrite strategic pivots and research ambitions, but it does not substitute for predictable public funding or policy stability. Boards must pair fundraising successes with long‑term financial plans that address enrollment volatility and potential shifts in federal and state support.