Wisdom Engraced
Keep up with the latest news and be part of our weekly giveaways and airtime sharing; follow our WhatsApp channel for more updates. Click to Follow us
A recent survey by the Council for Advancement and Support of Education (CASE) has revealed that donations to U.S. higher education institutions increased by $3.5 billion to $61.5 billion in the fiscal year ending June 30, 2024 (FY24).
For further information, read more details here
The report, “CASE Insights on Voluntary Support of Education: 2024 Key Findings,” which reflects data collected from 675 colleges and universities, found a 3 percent inflation-adjusted year-over-year increase in giving to higher education from the $58 billion reported in 2023.
The survey revealed significant increases in various categories, including foundation giving, which rose by 13.3 percent, alumni support, which increased by 7.5 percent, and awards by non-alumni individuals, which grew by 4.7 percent. Donor-advised funds, which now account for 10.6 percent of all higher education-related charitable funding, increased by 12.1 percent
However, giving from corporations declined by 7.3 percent. The report also found that nearly half of all endowed gifts were designated for student financial aid, while 43.6 percent of gifts were directed to research activities.
“Generosity toward higher education continues to grow, reflecting a deep belief in its power to transform lives and strengthen communities. Philanthropy remains essential to the success and sustainability of higher education,” wrote CASE president Sue Cunningham.
Cunningham added, “The consistent generosity of donors reflects a collective belief in the transformative power of education and its ability to create a more prosperous society.
Please don’t forget to “Allow the notification” so you will be the first to get our gist when we publish it.
Drop your comment in the section below, and don’t forget to share the post.
