A quarter of college fundraisers said gift revenue dropped by more than 30 percent in the last half of 2020, compared with that period in 2019. Paltry giving by major donors was the main cause of this decline, according to findings from a new survey of 104 U.S. and Canadian colleges conducted by researchers with the higher-education consulting firm EAB.
By the end of the 2020 calendar year, roughly 65 percent of colleges had raised less than they had the previous year.
Many colleges struggled to bring in new donations during the last half of 2020. Revenue from new contributions and pledges declined by a median of roughly 9 percent, but the overall landscape of college giving was uneven. Nearly 50 percent of the colleges said fundraisers made fewer appeals for gifts of $25,000 or more during the last half of 2020. More than 41 percent of respondents said the number of those gifts increased from July 1 to December 31.
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