Giving to Education Expected to Decline 4%
Colleges, universities and schools are expecting an average decline in gift value of 3.9 percent when the books are closed on the 2008-9 academic year, according to a survey of senior fund raisers being released today by the Council for Advancement and Support of Education. Looking to 2009-10, those surveyed project a modest increase of 2.5 percent. Over the last 20 years, the average annual rate of growth for giving to education has been 7.1 percent. “The steep decline confirms that we are in uncharted economic territory that may be having an equally uncharted impact on private philanthropy to education,” said John Lippincott, president of CASE.