Colleges performed well in fund raising last year among all nonprofit organizations that solicit private donations, making up more than one-quarter of the top 400 nonprofit organizations ranked by The Chronicle of Philanthropy by the amount of money they raised in 2007.
According to The Chronicle of Philanthropy’s annual Philanthropy 400 survey, total donations for all 400 nonprofits grew 4.5 percent from the year before, after being adjusted for inflation. Looking ahead to 2008 totals, some charities told The Chronicle they were on track to make their fund-raising goals, while others expressed concern that giving would decline in this troubled economy.
The 114 colleges and universities on the list each raised at least $49.6-million. The survey used annual data from the Council for Aid to Education to determine fund-raising totals for colleges, while it used IRS Form 990 information to determine those totals for the other nonprofit organizations. The Chronicle of Philanthropy noted an important difference between the two data sources — the 990 information includes pledges, while the council’s data, which were released earlier this year, include only money in hand.
The No. 1 charity on the survey was the United Way of America, which raised more than $4-billion last year. Thirty universities were among the survey’s the top 100, with Stanford University the top-ranked university at No. 10 and Harvard University next at No. 18.
One college that made a big jump in the rankings from last year’s survey was Texas Tech University. The institution moved up more than 150 spots, from No. 303 to No. 137, when it increased its fund raising by 133 percent.
Kelly Overley, vice chancellor for institutional advancement at Texas Tech, gave much of the credit to the new chancellor, Kent Hance. Mr. Hance, a former state senator and U.S. congressman, brought a zeal for fund raising and a deep bench of contacts to the job, she said.
“He has opened some doors for us and got us in to see some donors and alumni” the university otherwise wouldn’t have had access to, she told The Chronicle of Higher Education.
Ms. Overley estimated that Mr. Hance spends more than half his time raising private funds for the university. The two meet at least three or four times a week to discuss prospects, donors, and proposals.
Deans who make fund-raising calls and a growing development staff also contribute to the success of Texas Tech, she said. Since September 2007, the university has hired 13 additional development officers and 13 more advancement staffers.
“It’s a well-oiled machine,” she said.
Ms. Overley said it was too early to tell what effect the economy and the drop in the financial markets would have on fund-raising totals for 2008. The university, which is also seeing benefits from a football team going 8-0 this season, hasn’t seen a decline yet: It recently received a $15-million gift and has closed on three $1-million gifts in the last two weeks. —Kathryn Masterson
