Major Gifts Still Coming in This Tough Economy

Gifts Are Still Out There

Drexel University just announced a $25 million anonymous gift. Announced in The Chronicle of Philanthropy Daily Update with indepth information from the Philadelphia Inquirer this gift apparently came from trustee Richard A. Hayne, founder and chairman of Urban Outfitters, Inc.

Hayne's gift will help Drexel purchas a new media, arts, and design school building. "In some small way, I hope I'm giving back."

The University noted that the donor challenged Drexel to raise an additional $30 million but the gift was not contigent on that goal being met.

Drexel's fundraising is going strong in spite of time times -- in the second year of the quiet phase of their campaign, they have a 46% increase in new donors.

The Inquirer article noted that ". . . according to the Center on Philanthropy at Indiana University, the large individual gifts that are made in tough economic times tend to come from confident, successful entrepreneurs."

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