February 7, 2010
Giving to Private Colleges Dropped Last Year, Survey Finds
With a battered economy and volatile financial markets taking a toll on donors’ pocketbooks, private giving to American colleges dropped sharply in 2009, according to findings of the annual Voluntary Support of Education survey, released last week.
Donations were down by 11.9 percent, to $3.75-billion from the previous year—the steepest decline in the survey’s 50-year history. (Adjusted for inflation, the drop was 11.5 percent.)
Colleges brought in an
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