College and university fundraising hits record-high

Giving to U.S. colleges and universities grew 9 percent in fiscal 2013 to $33.8 billion, a record high, a new survey says.

Stanford University raised the most money, $931.57 million, while Duke University raised the most in North Carolina, $423.66 million, trailing only nine other schools throughout the U.S.

Alumni giving grew 16.9 percent, more than any other source of support, although alumni participation fell to 8.7 percent from 9.2 percent in fiscal 2012, says the annual Voluntary Support of Education survey from the Council for Aid to Education.

Alumni giving grew $1.3 billion to $9 billion and was the main source of the $2.8 billion increase in overall support.

Among schools that provided details on alumni giving, gifts from alumni for capital purposes and for current operations both grew in 2013, with the average gift per contributing alumnus growing 18.1 percent.

Foundation giving grew $850 million to $10 billion, giving by other organizations grew $400 million to $3.2 billion, giving by non-alumni individuals grew $375 million to $6.2  billion, and giving by religious organizations grew $25 million to $300 million, while corporate giving fell $150 million to $5.1 billion.

Among 951 schools that responded to the survey both years, 59.5 percent raised more in 2013 than in 2012.

Among all colleges and universities, contributions for current operations grew 6.9 percent, while gifts for capital purposes grew 12.4 percent.

In the aggregate, the value of endowments of 942 schools that supplied endowment data by January 15, 2014, grew 9.8 percent, with 96.6 percent of those schools reporting their endowment values had increased in 2013.

In 2012, only 44.3 percent of responding schools reported an increase in their endowments, and endowment values in the aggregate showed no growth.

In addition to Stanford and Duke, the schools that raised the most money were:

* Harvard University, $792.26 million.

* University of Southern California, $674.51 million.

* Columbia University, $646.66 million.

* Johns Hopkins University, $518.57 million.

* University of Pennsylvania, $506.61 million.

* Cornell University, $474.96 million.

* New York University, $449.34 million.

* Yale University, $444.17 million.

In addition to Duke, North Carolina schools that raised the most money were:

* University of North Carolina at Chapel Hill, $272.77 million.

* North Carolina State University, $131.38 million.

* Wake Forest University, $79.63 million.

* Davidson College, $35.47 million.

* Queens University of Charlotte, $15.77 million.

* East Carolina University, $15.35 million.

* University of North Carolina at Greensboro, $13.07 million.

* Appalachian State University, $12.05 million.

* University of North Carolina at Charlotte, $11.17 million.

Todd Cohen

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