ERIC Number: EJ930278
Record Type: Journal
Publication Date: 2010-Apr
Reference Count: N/A
Treasure Chase: Mega Gifts Are Down--But Are They out?
Mayer, Caroline E.
CURRENTS, v36 n4 p18-23 Apr 2010
Just a few years ago, the University of Notre Dame averaged about six mega gifts--$10 million or more--a year. Last year, however, the Fighting Irish received only one such donation. "That multimillion donation has become more difficult to obtain," says Lou Nanni, vice president for university relations at the Indiana institution. "It's not just the large drop in people's net worth that's holding people back; it's a general feeling of uncertainty and skittishness about the economy. Many donors are hesitant to commit to a large gift over a long period of time." And those who do commit need considerably more time before finalizing their decisions, he adds. Still, Nanni remains upbeat about the prospects of mega gifts. Nanni's cautious optimism is shared by many other educational fundraisers, especially as they see small but encouraging signs of improvement. At Oregon State University, for example, talks with donors about future mega gifts have begun again. Some schools remain focused on mega gifts, partly because that's where the bulk of money comes from and partly because they think donors who have the capacity to make mega gifts are less financially vulnerable. Moreover, many institutions are looking for ways to expand their donor base. Dickinson, for example, is studying how to attract younger givers, particularly those under age 70--the traditional target of development officials.
Descriptors: Economic Climate, Fund Raising, Donors, Educational Finance, Private Financial Support, College Administration, Foreign Countries
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Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education; Postsecondary Education
Authoring Institution: N/A
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