Money watch

Seems like COVID-era pronouncements of the death of traditional higher education were premature, at least when it comes to receiving donations from corporate and alumni donors. The recent survey from the Council for Advancement and Support of Education (CASE) ran the numbers: Voluntary support of U.S. higher education institutions totaled $59.50 billion in the fiscal year that ended on June 30, 2022. That is an increase of 12.5% —$6.6 billion—over the previous fiscal year. Among the 781 institutions that reported in 2021 and 2022, support increased 11%. Nearly two-thirds of this core group reported their charitable giving totals increased by an average of 25.7%.

2023 reports indicate the spigot has not been turned off. Here are some of the most recent:

The Simons Foundation, a philanthropy working to advance the frontiers of research in mathematics and the basic sciences, announced this month a historic $500 million endowment gift to Stony Brook University. The combined largesse of the Simons Foundation and Simons Foundation International — is the largest unrestricted donation to an institution of higher education in U.S. history.…Read More