By Tom Wilson Major Gifts Guru
Two recent articles, one in The Wall Street Journal and the other in The New York Times, highlighted fundraising challenges for higher education.
Fiscal year 2008 higher education fundraising (most fiscal year ends are June 30th, some August 31st) went well – $31.6 billion was raised, a record year. Of the 1,032 institutions who responded to a recent Council for Aid to Education survey, the top 20 received 27% of all gifts with Stanford University leading the way for the 4th year in a row at $785 million.
Stanford’s endowment fund was $17.2 billion on August 31st. The endowment fund which provides 28% of Stanford’s $3.5 billion budget is expected to decline at least 20% this year. Annual giving only provides 5% of the budget (of course that’s $175 million).
2009 is off to a rough start with many colleges and universities predicting a decline in giving. Probably worse than the nearly 4% decline in 1975 when hyper inflation was plaguing the country.
Permanent Link: Higher Education Fundraising in Tough Times