Monday, February 17, 2020
Inside Higher Ed, Giving Growth Slows:
Donations to institutions of higher education grew for the 10th consecutive year, but the gifts were not evenly distributed among the types of institutions, and totals were inflated by some large gifts from mega-donors like Michael Bloomberg.
The latest report on voluntary giving to higher education, from the Council for Advancement and Support of Education, or CASE, found that donations in the 2019 fiscal year reached $49.6 billion, an all-time high since the numbers have been reported. The total is up 6.1 percent from $46.7 billion in 2018. Donations grew by 7.2 percent between 2017 and 2018. The report covered information from 914 institutions. Of those, 872 institutions also reported information in fiscal year 2018.
However, a single gift of $1.2 billion from Michael Bloomberg's foundation to Johns Hopkins University skewed the results somewhat, said Ann Kaplan, senior director of the study. Other Bloomberg entities beyond his foundation brought his total contribution to $1.8 billion. Without those gifts, overall giving slowed down and just kept pace with inflation.