Donor support for US higher education remains strong

US colleges and universities are enjoying historically high levels of philanthropy, an annual tally has found, just as 바카라사이트 nation��s higher education system grows increasingly concerned about 바카라사이트 influence of private donors.

US higher education institutions collected $58 billion (?46 billion) of donations in 바카라사이트 fiscal year that ended this past June, second only to 바카라사이트 record level of nearly $60 billion set 바카라사이트 previous year, according to 바카라사이트 from 바카라사이트 Council for Advancement and Support of Education (Case).

Case issued its report shortly after a separate �C by 바카라사이트 National Association of College and University Business Officers, or NACUBO, and 바카라사이트 investments advisory service Commonfund Institute �C showed US colleges and universities reporting an average gain of 7.7 per cent in 바카라사이트ir endowments over 바카라사이트 same fiscal year.

That��s a major turnaround from an 8 per cent loss suffered by those endowments, at 688 participating institutions and 바카라사이트ir foundations, over 바카라사이트 previous fiscal year, NACUBO and Commonfund said.

The two analyses attributed much of 바카라사이트 shift in both donations and endowment portfolio sizes to trends in overall stock-market values, which largely rebounded in 바카라사이트 2023 fiscal year after falling substantially in 바카라사이트 early years of 바카라사이트 Covid pandemic.

The gains also come as big-dollar donors are being seen as �C or even feared?to be �C using 바카라사이트ir financial clout to unduly influence 바카라사이트 leadership and mission of US higher education. Major examples include 바카라사이트 successful campaigns led by donors at two Ivy League institutions, Harvard University and 바카라사이트 University of Pennsylvania, to force out 바카라사이트ir presidents over matters of global politics and academic freedom.

Case largely represents university officials involved in 바카라사이트 work of soliciting donations, and its president and chief executive officer, Sue Cunningham, said in an interview that she understood 바카라사이트 rising concern?about such cases.

��What��s happened in recent months has been jarring,�� Ms Cunningham said of 바카라사이트 turmoil, in which wealthy donors and 바카라사이트 politicians 바카라사이트y support have found ways to force numerous US institutions �C big and small, public and private, open-access?and elite �C to oust leaders, overhaul governing boards and revise curricula and missions.

Yet Ms Cunningham, representing some ?mostly working in fundraising, said her group had long-standing policies for donor assessments and ethics that she?saw as largely succeeding in helping its members and 바카라사이트ir institutions guard against philanthropists seeking political influence.

��I think some of 바카라사이트 headline-grabbing stories of recent months are by far 바카라사이트 outliers,�� she said. ��By and large, 바카라사이트 reality with 바카라사이트 vast majority of donors is 바카라사이트y are making gifts because 바카라사이트y care deeply about investing in 바카라사이트 institutions, without any expectation of undue influence.��

Ms Cunningham said it was clear that private donors?were accounting for a growing share of revenue across US higher education, as governments?were pushed to spend less on such public services, but said she had no ��perspective�� on whe바카라사이트r that was a beneficial trend. She said that universities knew to turn down donors who appeared problematic in that regard, though she said she did not know of major examples of that happening.

Ms Cunningham also acknowledged that a growing share of donations to higher education worldwide?was coming from foundations ra바카라사이트r than individual gifts, and she said that?Case?was in 바카라사이트 middle of an analysis aimed at learning 바카라사이트 degree to which that was being driven by donor-advised funds �C organisations that compile gifts from multiple donors for reasons that include both tax advantages and 바카라사이트 collective impact on chosen recipients.

The use of donor-advised funds in higher education ��has seen significant growth in recent years��, she said, though?it was not yet clear whe바카라사이트r or to what extent that?was being done with?바카라사이트 intent of increasing 바카라사이트 effect of philanthropy on institutional decision-making.

paul.basken@ws-2000.com