With more than 100 institutions of higher learning, New York City is a destination for students from all over the world.
These students soon find that New York is a brutal place to find lodging, especially on a meager student budget. Campus dormitories provide housing for fewer than 10 percent of the city’s students.
Bridging this housing gap is the mission of the LCU Foundation, which assists female students pursuing careers in fields that may never be lucrative, but which contribute to society in immeasurably important ways. These young women attend a diverse array of schools including Alvin Ailey Dance Company, City College of New York, John Jay College of Criminal Justice, Mannes College of Music, and Phillips Beth Israel School of Nursing.
The LCU Foundation has a venerable past, dating back to the establishment of the Ladies’ Christian Union in 1858 (in 1872, this group gave rise to the YWCA). The Ladies’ Christian Union sheltered young working women who were new to the city in brownstone residences they supported.
In 2000, a combination of circumstances including rising real estate values and women’s changing lifestyles necessitated a reinvention of the foundation’s profile. The residences were sold to establish a healthy endowment, and LCU became a grantmaking foundation, funding housing for selected female students at a variety of educational institutions.
This transformation included a steep learning curve. The LCU Foundation needed to acquire savvy in financial stewardship, grants administration, and office management. Advice from Philanthropy New York helped catapult this 19thcentury society into its new 21st century role.
The personal stories of the women LCU helps could fill pages. Many grantees are single mothers, some are escaping abusive situations. All want to concentrate on their studies and succeed.