by Ali Weinberg
December 06, 2006
NYU will now require donors who pledge large sums of money to pay some cash upfront as the university examines its fundraising policy in the wake of several donations that backfired.
The university will not change its pledge policy outright, but it is considering creating a stipulation that pledges must give NYU part of their pledge before the university starts outlining how it plans to use the funds, said Debra LaMorte, NYU’s senior vice president for development and alumni relations. Donors often make requests about how their pledges and donations are to be used; now, the university will not allow projects to go forward without the money promised for those projects has been paid."