Corcoran, William
From GWUEncyc
Trustee
“One hundred years of thoughtful giving at the George Washington University in the Nation’s Capital”
Presidents Washington and Monroe and other political and religious leaders helped establish our University in the Nation’s Capital. Since that time many others have contributed to the continuing and expanding of our program. These have included alumni who have earned degrees as well as those honored for their contributions to the public good. Among these was W.W. Corcoran, banker and philanthropist, whose gift and endowment of the Corcoran art collection is known today by the nearly every American who has visited Washington.
Mr. Corcoran, son of a member of the University’s first Board of Trustees, became a member of the Board himself in 1869, and in that same year was awarded the honorary degree of Doctor of Laws by the University. He served the Board until his death, the last sixteen years as “President of the Corporation,” a post comparable to that of Chairman of the Board today. A major University building, Corcoran Hall, has been named in his honor.
The Corcoran Endowment Fund for general purposes of the University was established with various gifts made over a period of about two dozen years. These included real estate, a large tract of land and securities from Mr. Corcoran himself, as well as gifts from a number of other persons. The fund at the present time totals $220,000 [in 1959].
Mr. Corcoran inaugurated the collection of these funds “to aid in the permanent endowment of the college and its elevation to the dignity and usefulness of a University.” It was his wish “that the principal of the donation, when realized should be funded and kept forever intact, the interest alone being applied to the support of the College.” Both of these wishes have come to pass. The Columbian College became the Columbian University by an Act of Congress in 1873, the year after he became President of the Board of Trustees. The Corcoran Fund remains today (1959) one of twenty-seven endowment funds of the University, the income of which is used “for general purposes.” Mr. Corcoran was interested in aiding in “the establishment at the seat of government of the United States, of an institution designed for the acquisition of knowledge in all the branches of learning, where the youth of the country may enjoy the most enlarged advantages of a liberal education through coming time.. . .”
His desires were not unlike those of President Washington, who in his will sought to endow a university to be established in the Nation’s Capital “to which the youth of fortune and talents from all parts thereof might be sent for the completion of their education in all branches of polite literature; - in arts and Sciences - in acquiring knowledge in the principles of Politics and good Government.”
Document Information
Images: 1
Photographic Credit: National Archives, Mathew Brady collection
Author or Source: GWU Alumni Review, May 1959
Document Location: University Archives
Date Added to Encyclopedia: December 21, 2006
Prepared by: Lyle Slovick, Assistant University Archivist
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