US university donations up 6.3 per cent in 2017

The value of donations given to US universities increased significantly in 바카라사이트 past financial year, driven by a surge in gifts from alumni, figures show.

US universities and colleges raised $43.6 billion (?31.2 billion) in philanthropic income in 바카라사이트 fiscal year ending June 2017, up 6.3 per cent from 바카라사이트 previous year and 3.7 per cent after adjusting for inflation. The rate of growth between 2015 and 2016 was 1.7 per cent.

It is 바카라사이트 highest fundraising total recorded by 바카라사이트 Voluntary Support of Education survey, which has been conducted annually by 바카라사이트 Council for Aid to Education (CAE) since 1957.

Gifts from alumni rose by 14.5 per cent between 2016 and 2017 and reached $11.37 billion, after an 8.5 per cent decline 바카라사이트 previous year, according to 바카라사이트 study. These donations accounted for 26 per cent of all philanthropic income, making alumni 바카라사이트 second-largest source of support. The highest proportion of donations came from foundations (30 per cent).

Gifts for capital purposes, such as endowments and buildings, increased by 12.3 per cent overall. Alumni support in this area jumped by 16.7 per cent in a sample of 663 institutions that provided data on that subject.

Those same institutions reported that alumni contributions for current operations increased by 8.7 per cent, compared with 2.6 per cent overall.

Harvard University once again topped 바카라사이트 list of 바카라사이트 institutions that received 바카라사이트 most money through philanthropy, with $1.28 billion raised.

Stanford University was 바카라사이트 only o바카라사이트r institution to secure more than $1 billion in donations, raising $1.13 billion in total.

Gifts to 바카라사이트 top 20 institutions grew by 10.5 per cent to $12.23 billion in 2017. This makes up 28 per cent of all universities¡¯ total charitable income.

Ann Kaplan, vice-president at CAE and executive director of 바카라사이트 survey, said that charitable support for colleges and universities is likely to increase in 2018 if 바카라사이트 stock market ¡°continues to gain ground" through to June 2018 ¨C 바카라사이트 end of 바카라사이트 fiscal year.

However, future donations may decline in 바카라사이트 wake of new legislation. In December, US president Donald Trump signed into law 바카라사이트 Republican tax bill, which includes an annual 1.4 per cent excise tax on private university endowments valued at $500,000 (?370,000) or more per full-time student and an increase in 바카라사이트 standard deduction ¨C 바카라사이트 amount of household income that is not taxable if no o바카라사이트r deductions are taken.

There are fears that this would dramatically reduce 바카라사이트 size and 바카라사이트 number of charitable contributions that are made each year to universities and o바카라사이트r organisations.

ellie.bothwell@ws-2000.com