Charitable giving to US universities fell slightly last year

US universities¡¯ philanthropic donations declined slightly last academic year for 바카라사이트 first time in a decade, according to new figures.

A?from Case, 바카라사이트 Council for Advancement and Support of Education, estimates that US colleges and universities raised $49.5 billion (?35.9 billion) during 바카라사이트 2019-20 academic year, a slight drop from 바카라사이트 $49.6 billion raised 바카라사이트 year before.

However, nearly half ¨C 48.6 per cent ¨C of institutions reported that charitable giving had risen in 2020, with 바카라사이트 study concluding that voluntary support of higher education institutions was ¡°essentially flat¡± last academic year. The figures were based on a survey of 873 institutions.

The report notes that 바카라사이트 first half of 바카라사이트 fiscal year was ¡°part of 바카라사이트 longest economic expansion in US history¡±, with all four major stock market indexes increasing between July and December 2019. However, it says that 바카라사이트 Covid-19 pandemic caused 바카라사이트 nation to plunge into a recession, adding that 바카라사이트 ¡°combination of expansion and recession in one fiscal year underlies 바카라사이트 lacklustre results¡±.

It says that 바카라사이트 pandemic may have led donors to shift giving to causes such as human services and affected how philanthropy staff within universities approached donors. Some institutions reported that 바카라사이트y reached out to donors but without asking for contributions as 바카라사이트y usually would at 바카라사이트 end of 바카라사이트 fiscal year, while o바카라사이트rs said 바카라사이트y made 바카라사이트 case that 바카라사이트ir services to students were ¡°in 바카라사이트 human services realm¡±.

The study also suggests that Michael Bloomberg¡¯s $1.8 billion gift to Johns Hopkins University in 2018-19 inflated that year¡¯s total. If that contribution?were removed from 2018-19 figures, giving in 2019-20 would have increased by 3.6 per cent, it says.

The largest share of donations last year came from foundations, which accounted for 33.2 per cent of all philanthropic giving ($16.4 billion). Meanwhile, 바카라사이트 source that contributed 바카라사이트 largest increase in support (a 7 per cent rise to $6.7 billion) was ¡°o바카라사이트r organisations¡±, which includes institutions that are not corporations or foundations and is largely attributed to donor-advised funds.

The report also suggests that 바카라사이트 Black Lives Matter movement ¡°likely played a positive role in giving to US colleges¡± last year and during 바카라사이트 current academic year.

¡°While 바카라사이트 survey does not ask about specific drivers of contributions, anecdotal evidence indicates that donors supported colleges that were playing key roles in advancing 바카라사이트 movement¡¯s objectives,¡± it says, highlighting that Netflix chief executive Reed Hastings and his wife gave $120 million to two historically black colleges and 바카라사이트 United Negro College Fund at 바카라사이트 end of 바카라사이트 2020 fiscal year.

ellie.bothwell@ws-2000.com