Should colleges worry about plans to cap deductions?

The charitable deduction, which dates to 1917, would cost the government about $250 billion over the next five years, and proposals for reform vary.

The scenic campus of Colgate University in upstate New York is enjoying more than a fresh coat of paint these days.

New buildings include the Robert H.N. Ho Science Center and the Trudy Fitness Center. The Case Library was refurbished and renamed, and includes the new Geyer Center for Information Technology. There’s also $142 million in the coffers for financial aid—all the fruits of a recent $480 million fundraising campaign.

Colgate cast a wide net. But like most big campus fundraising campaigns, the lion’s share came from wealthy benefactors rewarded in return with a combination of altruistic satisfaction, naming rights—and a big tax deduction.…Read More