July 02, 2008
Questioning Big Gifts
Princeton University on Tuesday announced it has received three big gifts toward its capital campaign goal of $1.75-billion, one of which was a pledge for $100-million.
This type of nine-figure gift is the “new standard” in university development, writes Stan Katz, a public and international affairs professor and director of Princeton’s Center for Arts and Cultural Policy Studies at the Woodrow Wilson School, on The Chronicle of Higher Education’s Brainstorm blog.
But although Mr. Katz says he is grateful, he wonders whether these mega-gifts are being put to their best educational use.
“The question is: What is the relationship between the need to package mammoth ‘giving opportunities’ for major donors and the capacity to plan in accordance with good educational policy?” he writes. “Is there any reason to fear that the construction of buildings and the creation of endowed professorships may not be the best way to develop an educational institution? Are there parts of the university educational portfolio that are unlikely to attract huge bucks, and that therefore may be left to wither? I fear so.”
What do you think? Is there ever a downside to multimillion dollar donations? How could the money be put to better use?
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Absolutely there’s a downside to very large gifts. But the key is helping match the donor’s interests with the needs of your institution. If the gift is made to support some of your Top Ten funding priorities, you have a terrific gift. If the donor wants it to be used for something else, however, you’re in extreme danger of altering your primary focus and mission as an organization, in exchange for a large pile of money. If that happens, you’ve got to have top leadership do the best it can to help the donor better understand your needs and priorities. Sometimes it works; sometimes it doesn’t. But just because a donor’s vision for your charity comes bundled with a large gift doesn’t mean you should substitute his or her vision for that of your board, staff, and volunteers.
— Colin V. French Jul 5, 10:33 AM #