Donations to American universities are up 9.4 percent from last year, according to a report issued Wednesday by the Council for Aid to Education.
The University of Michigan, though, did not appear to benefit from the generosity.
Donors gave $257 million to the University during the 2006 fiscal year. This was an increase of $1 million – just a .4 percent increase from the University’s record-setting 2005 fiscal year. The report measured donations to American universities over the 2006 calendar year. However, the only fundraising data available from the University of Michigan is divided by fiscal year.
During the same period, contributions to the University’s Michigan Difference campaign, which are tallied separately, fell from $492 million to $352 million from the 2005 fiscal year – a decline of 28.4 percent.
Comparatively, gifts to Stanford, which broke nationwide college fundraising records last year, rose almost 50 percent to $911 million.
Much of the increased giving across the nation came from alumni, who donated 18 percent more to universities last year than in 2005.
Judy Malcolm, a spokeswoman for University’s office of development, said the University receives donations from almost 64,000 people per year.
With 465,180 living alumni, the University of Michigan has been a major recipient of monetary gifts in the past. Malcolm said it was the first public university to establish a billion-dollar fundraising campaign, raising a total of 1.4 billion dollars from 1992 to 1997.
The Michigan Difference Campaign has a $2.5 billion goal. As of Jan. 31, donors had given $2.41 billion to the campaign.
The University of Wisconsin at Madison was the only public institution on the Council for Aid to Education’s list of the top 10 fundraising universities of 2006. It raised $326 million.
Malcolm said the University of Michigan has tried to attract donors through a series of new initiatives.
One of these is a push for more endowed professorships, which typically cost $2 million. The University has pledged to add $500,000 to any $1.5 million donation for an endowed professorship. Malcolm said the campaign has resulted in 10 new endowed professorships since Oct. 21.
Because the University only needs to receive half of the donation before a professorship is awarded, the professorship can be fulfilled after it gets the first $500,000 installment from a donor coupled with the University’s contribution.
The University received its largest gift in 2005 when University alum and real estate magnate Stephen Ross gave a $100 million donation, most of which went to the Business School.