Monday, December 13, 2004

Centre Daily Times | 12/13/2004 | PSU firing up money machine

Centre Daily Times | 12/13/2004 | PSU firing up money machine: "The university received $200.9 million in commitments in 2003-04, up from the $181.3 million raised the year before. But receipts for 2003-04 totaled just $151.3 million.
Now, the university is trying to refuel its momentum and keep donations coming in during a multipronged capital campaign over the next few years.
Fund raising at educational institutions nationwide has been in a slump. According to the Council for Aid to Education, colleges and universities received the same amount in private gifts in 2003 as they did in 2002, when they saw the first downturn in giving since 1988. Giving USA reported a 3 percent decline in charitable giving to education in 2003, while giving overall was up 2.8 percent.
John Lippincott, president of the Council for the Advancement and Support of Education, said giving to universities is expected to improve with the economy.
Lippincott and others said research shows that while giving is generally tied to the economy, it's not tied to the performance of a university's athletic teams. While a few donors might lose their urge to give because of bad showings by college teams, they say the effect overall is negligible."

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