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The Top 20 institutions rely heavily on fundraising and endowments. At Stanford, for instance, endowment spending accounts for 20 percent of the university's $4.1 billion operating budget
-- more than it gets from students (18 percent). The 99 percent schools typically get much more of their revenue from tuition, with endowments more akin to an emergency financial cushion. Last year's fundraising total nationally remains $1.3 billion below the 2008 peak of $31.6 billion, and while some non-elite schools had good years, many were still struggling as the economy sputtered last year. Roughly two-thirds outside the Top 20 saw fundraising rise by less than the 8.2 percent national average. Even some well-known institutions have had a hard slog. The University of Virginia, for instance, which fell just outside the latest Top 20 for 2011, came up about $400 million short on a planned eight-year, $3 billion campaign had been scheduled to wrap up last year. Another challenge: Colleges typically have little flexibility on how endowment dollars are spent, Kaplan noted. Completely unrestricted gifts amounted to just 7.9 percent of donations; the rest are given for specific purposes, such as research, scholarships or endowed professorships. Roughly 14 percent was donated for buildings, property and equipment. Alumni giving rose 9.9 percent nationally, and accounted for about 26 percent of the donations colleges receive. Corporate donations rose 6.6 percent. Donations from foundations, which remain the largest source of support at about 29 percent, rose 3.3 percent. ___ Online: http://www.cae.org/
[Associated
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