Education

Giving is colleges is up 7.2 percent

Charitable giving to colleges reached $46,730,000 in 2017-18, a one-year increase of 7.2 percent, or 4.6 percent when adjusted for inflation.

The data are from the annual Voluntary Support of Education report, now run by the Council for Advancement and Support of Education.

While Michael Bloomberg’s mega-gift of $1.8 billion to Johns Hopkins University came after the last academic year and so will influence next year’s totals, there report covers a year of numerous large gifts. Seven institutions reported gifts of at least $100 million during the year studied, more gifts of that size than in any previous year.

More than half of the funds raised went to doctoral/research universities — public and private — which are raising billions of dollars in campaigns.

The University of Michigan, for example, recently announced the final results of its seven-plus-year fund-raising campaign, which brought in $5.28 billion. While there were numerous large gifts, 94 percent of gifts were under $5,000. Michigan says that the campaign is the first by a public university to exceed $5 billion. Two other institutions have $5 billion campaigns going on: the University of Washington and the University of California, San Francisco. (You can track colleges’ fund-raising campaigns at Inside Higher Ed’s database, here.)

Source :insidehighered