Academic Business

Andrew Delbanco, director of American studies and Levi Professor in the Humanities at Columbia University, discusses the inequities evident in the higher education system. As costs increase, what are students gaining from their higher education experience apart from a mountain of debt? Is the higher education system in the business of educating or making money?

Delbanco discusses the modern higher education institution and questions the relationship of student and customer, wealthy and low-income opportunities, the university as a corporation, financing and private philanthropy, alumni gifts and tax breaks.

Full-text article by Andre Delbanco available via The New York Times, 9.30.07.

New Philanthropy Capital

Another example of senior figures in the securities industry shifting their focus to the charitable sector. James Garvin, former co-head of equity capital markets at UBS is now a director at New Philanthropy Capital, a research firm that applies the discipline of equity research to advise wealthy individuals and foundations on making effective charitable donations.

Full-text article by William Wright available via Financial News, 9.28.07.

Claremont McKenna College Receives $200-Million Pledge

Robert Day, a California financier and president of the W.M. Keck Foundation, in Los Angeles, is giving $200-million to his alma mater, Claremont McKenna College. The liberal arts colllege, in Claremont, Calif., will use the money to pay for a new master’s degree program that will focus on economics and finance, for enhanced undergraduate programs in those fields, and for scholarships.

Full-text article by Maria DiMento via The Chronicle of Philanthropy, 9.27.07. [Subscription required.]

UCAN Network

The National Association of Indpendent Colleges and Universities (NAICU) has created a database that compares private colleges based on specific categories, like class sizes and graduation rates.

The site, at www.ucan-network.org, is free and does not require registration. It lists colleges alphabetically, by state or by affiliation.

U-CAN is the first national consumer information resource created and provided directly to students and parents by colleges and universities themselves. Over 600 private colleges and universities have signed on to participate in the initiative, with over 440 profiles published so far.

Full-text press release via National Association of Independent Colleges, 9.26.07.

UMaine Gets $12M Gift

The University of Maine announced it has received the largest donation in its history, $12 million from 1937 graduate George L. Houston.

Houston, who died earlier this year at the age of 91, made the bequest to the University of Maine Foundation. The Bangor native played football for UMaine and later developed an engineering and surveying consulting business.

His gift will be used to establish a scholarship fund named for Houston that will benefit undergraduate and graduate students in the university's School of Forest Resources.

Full-text article available via Business Week, 9.25.07.

University of Washington Business School

The University of Washington is renaming its business school after a longtime donor who has pledged a total of $50 million in gifts.

It will call the school the Michael G. Foster School of Business, in recognition of a local businessman whose family has ties to the university.

Full-text article by Christine Frey available via Seattlepi.com, 9.7.07.

Cal Poly Receives a $60-Million Pledge

California Polytechnic State University at San Luis Obispo announced today a $60-million gift to its architecture department, from an anonymous donor. The donation is believed to be the largest ever made to an institution in the California State University system.

Full-text article by Erin Strout available via The Chronicle of Higher Education, 9.26.07. [Subscription required.]

The Billionaire Who Wasn't

Charles Feeney made his fortune by creating chains of duty-free shops in airports several decades ago. The businessman then turned nearly his entire fortune over to his foundation in 1987. Mr. Feeney plans to give away the rest of his assets, now valued at $4-billion, by 2017.

Since 1982, Mr. Feeney has awarded roughly $4-billion in grants through his Atlantic Philanthropies Foundation. He was able to hide his involvement with the organization for years by setting it up in Bermuda to avoid U.S. disclosure requirements.

He has shared details of his life and charitable interests in his upcoming biography, “The Billionaire Who Wasn’t” by Colon O'Clery.

Full-text article by Jim Dwyer via The New York Times, 9.26.07.

Open Philanthropy

MIT assistant professor, Ed Boyden, discusses the concept of open market philanthropy - - connecting dollars to ideas. Boyden suggests having a website that serves as a forum for announcing research projects. Individuals browse projects and donate as they see fit. The concept is similar to micro-lender, Kiva, but channels funds to researchers.

Full-text blog posting by Boyden available via Technology Review (published by MIT), 9.24.07.

Royal Shakespeare Gets $5 Million From U.S. Donor

Chris Abele, a Milwaukee businessman whose father was a founder of the biotechnology company Boston Scientific, oversees his family’s philanthropic work, the Argosy Foundation, as well as the Royal Shakespeare Company America.

The president of the American arm of the British Royal Shakespeare Company has given $5-million to help construct a new theater in Stratford-upon-Avon, England.

Full-text article by Campbell Robertson available via The New York Times, 9.24.07.

Fish-Naming Auction Raises $2-Million for Conservation

Conservation efforts in Indonesia raised $2 Million by auctioning the naming rights of 10 newly discovered species of fish.

The idea of selling new species' naming rights has gained popularity among environmentalists.

The money will be used to build a floating ranger station in the bay where scientists discovered the species and also to support educational trips for Indonesian children.

Full-text article by Juliet Eilperin via The Washington Post, 9.22.07.

University of Chicago Joins Reaches $2 Billion Campaign Goal

A $25-million donation from the Neubauer Family Foundation has put the University of Chicago over its $2-billion fund-raising campaign goal, university officials announced.

The university will continue the campaign, which began in 2002, until the scheduled completion date of June 2008.

Tri-State U. renamed to Trine University

Tri-State University in Angola, Indiana will change its name to Trine University in honor of major donors, Ralph and Sheri Trine.

Full-text article via IndyStar.com, 9.24.07.

Higher Education Athletics Departments Experience Growth

Fundraising operations at the the nation's higher education institutions have experienced enormous growth. According to Bruce Flessner, athletics has transitioned away from its “stepchild” role in overall university fundraising.

The country's largest athletics departments and booster clubs raised more than $1.2-billion in 2006-7, a Chronicle survey has found, with some programs more than tripling their gifts in the past decade.

Growth in new facilities has fueled much of the increase: Between 2002 and 2007, colleges in the nation's six premier athletics conferences raised more than $3.9-billion for capital expenditures alone.

Over the next few years, big-time athletics programs hope to raise an additional $2.5-billion for new buildings, the survey found. And many programs are expanding their fund-raising staffs to solicit big gifts.

Full-text article by Brad Wolverton available via The Chronicle of Higher Education, 9.25.2007. (Subscription required).

Charities Brace for Challenges From Jittery Stock Market

Over the past year, the stock market has had a relatively steady climb with the DJIA at 11,295 in September 2006 and reaching a new all-time high of 14,121 in July 2007. However, recent volatility has many concerned about the health of the stock market and has nonfprofits wondering what impact this may have on fundraising.

The volatile stock market has not yet caused any major problems for charity fund raising, but experts warn that continued ups and downs or a sharp drop in stock values this fall could hurt nonprofit groups — especially since some charities raise the bulk of their donations in the last quarter of the year.

Full text article by Elizabeth Schwinn available via the Chronicle of Philanthropy, 9.6.07.

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