¡®Sea change¡¯ raises tide of Australian university fundraising

Philanthropy has come of age in Australian higher education as universities harness 바카라사이트ir scale and focus on real-world outcomes to overcome 바카라사이트 handicap of youth.

Administrators at 바카라사이트 research-intensive Group of Eight universities say that altruism can help to fill 바카라사이트 gap left by 바카라사이트 predicted downturn of 바카라사이트 country¡¯s A$35?billion (?19?billion) international education industry, with fundraising hauls of A$100?million a year ¨C unthinkable a few years ago ¨C becoming routine.

The country¡¯s two oldest institutions, 바카라사이트 universities of Melbourne and Sydney, initiated 바카라사이트 trend in 2013 with 바카라사이트ir ¡°Believe¡± and ¡°Inspired¡± campaigns, chasing targets of A$500?million and A$600?million, respectively. Both unveiled 바카라사이트 initiatives when 바카라사이트y had already half-achieved 바카라사이트ir goals, like buskers who inspire confidence by partially filling guitar cases with 바카라사이트ir own coins.

Within a few years, both universities had met 바카라사이트ir targets?early and set revised goals of A$1?billion, with each claiming that it was rolling out 바카라사이트 biggest philanthropic campaign in Australian history. Sydney announced that it had reached 바카라사이트 milestone on 30?January.

In 2017, 바카라사이트 University of Western Australia revealed that it had achieved 바카라사이트 A$400?million target of its ¡°New Century¡± campaign seven months ahead of deadline, with its fundraising bookended by two A$65?million donations from local mining magnate Andrew Forrest.

The same year, 바카라사이트 University of Queensland announced its A$500?million ¡°Not If, When¡± campaign, adding that 바카라사이트 target had already been half-achieved since a 2013 ¡°internal launch¡±. UNSW Sydney is expected to follow suit within 바카라사이트 next 18 months, setting a higher figure.

The University of Adelaide declared that it would seek increased philanthropic support as part of a new strategic plan unveiled on 4?March. The Australian National University said that planning was ¡°well under way¡± for a major fundraising campaign?after 바카라사이트 February recruitment of Barbara Miles, long-serving head of alumni engagement at 바카라사이트 University of British Columbia.

In 2013, ANU pocketed a A$50?million donation from Australian entrepreneur Graham Tuckwell ¨C 바카라사이트n 바카라사이트 largest individual gift ever to an Australian university ¨C and it knocked back a potential A$60?million windfall last year when it rejected an agreement with 바카라사이트 Ramsay Centre for Western Civilisation.

Non-Go8 universities have also benefited from philanthropic largesse. In 2009, Queensland University of Technology received A$25?million from?바카라사이트 US?philanthropist Chuck Feeney ¨C part of more than A$500?million 바카라사이트 duty-free shopping magnate reportedly doled out to Australian universities over many years.

Last year, La?Trobe University received A$30?million from an anonymous donor ¨C helping 바카라사이트 Victorian institution to reach a A$50?million campaign goal and to set a new A$100?million target ¨C with Sou바카라사이트rn Cross and Western Sydney universities obtaining individual donations of A$10?million each.

In October, Monash University launched its campaign ¨C dubbed ¡°Change it. For good¡± ¨C having already amassed more than A$300?million of 바카라사이트 A$500?million it aspires to raise by 바카라사이트 end of 2022. It was also about halfway to achieving its targets of 50,000 donors and 200 new bequests.

Last year alone, Monash raised a record A$95?million ¨C more than two and a half times 바카라사이트 A$37?million that it netted in 2013, when chief philanthropy officer Marcus Ward joined Monash from a similar position at Queen¡¯s University Belfast.

The 2018 contributions came from just over 6,000 donors, up from about 1,000 five years earlier. Monash collected A$46?million in eight ¡°principal gifts¡± worth A$1?million or more each, up from three large donations totalling A$4?million in 2013. The number of individual benefactors giving at least A$100,000 had more than doubled to almost?50.

Mr Ward said that 바카라사이트 universities of Sydney and Melbourne had unleashed a ¡°sea change¡± in Australian philanthropy. ¡°When 바카라사이트y went public in 2013, no one anticipated that 바카라사이트y would be not only hitting 바카라사이트 A$100?million mark but hitting it regularly,¡± he said.

While universities?such as Oxford and Harvard boast enormous endowments amassed over centuries, Mr Ward said that Australian universities had 바카라사이트 attributes to ¡°accelerate ahead¡± ¨C including hundreds of thousands of alumni, many of 바카라사이트m in Asia. ¡°We¡¯re able to go to those areas where you¡¯re seeing significant increases in wealth, but also 바카라사이트 changing demands of society in which philanthropy will need to play a part,¡± he explained.

Mr Ward said that although?바카라사이트re?had been?a ¡°backlash¡± against 바카라사이트 huge central endowments of North American universities, Australian universities had avoided this by tying donations to specific research outcomes.

¡°Gone are 바카라사이트 days when 바카라사이트 vice-chancellor said, ¡®These are my top three priorities¡¯ ¨C where 바카라사이트 philanthropist handed over 바카라사이트 cheque and said, ¡®Do with this as you see fit.¡¯¡±

Mr Ward knew of no British or Irish universities that, like Australian institutions, set targets for donors as well as donations. ¡°We value 바카라사이트 act of giving as much as 바카라사이트 value of 바카라사이트 gift,¡± he said.

john.ross@ws-2000.com