Thursday, September 26, 2013

Record Donations to Colleges in D.C., Maryland and Virginia

The Washington Post is reporting that two private universities in the District of Columbia have announced landmark donations.  Trinity Washington University will receive $10 million for a new academic building, and Georgetown University will receive $100 million for a new school of public policy. The gifts set records for each school.

Speaking about records, the Post is also reporting that among private institutions, the largest gift on the Washington Post’s list is $350 million to Johns Hopkins University.  In the public sector, the largest is $100 million to the University of Virginia.  The largest gift to a single U.S. college or university was $600 million pledged in 2001 to the California Institute of Technology (Caltech). 

The Post's article leads me to wonder about donations to colleges and universities.  Why do people -- ordinary citizens -- donate to education?  Why are some institutions consistently able to raise more funds than others?  The Post addreses these questions as regards Georgetown and Trinity Washington:

Georgetown, the nation’s oldest Catholic university, is highly selective and draws students from across the country. Its alumni can tap significant pools of wealth. Trinity Washington, a Catholic women’s school, is less selective and serves a large number of students from low-income neighborhoods in the District. But Trinity has some powerful alumnae, including House Minority Leader Nancy Pelosi (D-Calif.) and Health and Human Services Secretary Kathleen Sebelius.

Of course, some institutions are able to raise significant amounts because their alumni are pleased with the education they received.

VEJ

http://lawprofessors.typepad.com/nonprofit/2013/09/record-donations-to-colleges-in-dc-maryland-and-virginia.html

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