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ERIC Number: EJ837690
Record Type: Journal
Publication Date: 2009-Mar-6
Pages: 1
Abstractor: ERIC
Reference Count: N/A
ISBN: N/A
ISSN: ISSN-0009-5982
Private Gifts to Colleges Continued to Climb in 2008: But a Slowdown Is Forecast as Gifts This Year Already Are in Decline
Masterson, Kathryn
Chronicle of Higher Education, v55 n26 pA15 Mar 2009
Strengthened by a healthy year-end finish in 2007, private giving to colleges and universities remained strong in the 2008 fiscal year, according to a report released last week by the Council for Aid to Education. The past few months have battered hopes that this trend will continue, at least in the next couple of years. Colleges brought in an estimated $31.6-billion last year, the highest total ever reported in the council's annual "Voluntary Support of Education" survey, which included 1,052 institutions. That represented a 6.2-percent increase over the previous year, and the fifth straight year of increases. The outlook for the current year is not rosy: based on interviews with top college officials and a study of historical giving data in periods of recessions and stock-market declines, the council predicts giving will go down in 2009 and may erode further in 2010. The number and size of gifts are falling, fund raisers report, and donors are renegotiating multiyear pledges. Despite that, some institutions are raising their campaign goals: the University of California at Los Angeles, recognizing that its students are being impacted by the economy, has started a campaign to raise $500-million for financial aid. The council's predictions mirror recent results of a survey by the Council for Advancement and Support of Education.
Chronicle of Higher Education. 1255 23rd Street NW Suite 700, Washington, DC 20037. Tel: 800-728-2803; e-mail: circulation@chronicle.com; Web site: http://chronicle.com/
Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Location: California