CSUN University News Clippings

Colleges’ billion-dollar campaigns feel the economy’s sting

(March 30, 2009)

By KATHRYN MASTERSON

The economy’s collapse has caught up with the billion-dollar campaign. In the past 12 months, the amount of money raised by a dozen of the colleges engaged in higher education’s biggest fund-raising campaigns fell 32 percent from the year before, according to a Chronicle analysis.

The decline, which started before the worst of the recession, has forced colleges to postpone expansion plans, readjust their budgets, and ask better-off donors to expedite pledge payments. If the slump continues, experts say, more serious cutbacks could come. It’s a situation institutions can’t ignore as they look to private giving to make up for huge endowment losses and declining government support…………..

For more, http://chronicle.com/

Publication: The Chronicle of Higher Education