January 9, 2009

Recession Tempers the Usual Optimism in College Fund-Raising Offices

By KATHRYN MASTERSON

After years of growth and predictions that fund raising for higher education would escape the brunt of the economic crash, the recession has started to affect colleges' efforts to raise money, a survey by The Chronicle and Moody's Investors Service shows. Predictions are that 2009 may be an even tougher year for fund raisers, with shrinking annual funds and even job cuts likely.

More than half of the 214 respondents to the survey of chief financial officers, conducted in early

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