October 18, 2009
Colleges Look for New Ways to Pay the Cost of Raising Money
One day before the University of Connecticut kicked off a $600-million campaign last month, an article examining how the university covers its fund-raising expenses appeared on the front page of the state's largest newspaper. Like many colleges, Connecticut pays its private foundation an annual fee—$7.5-million last year—to offset salaries, travel costs, and other expenses. Lawmakers questioned whether that use of university dollars was appropriate.
It's not the kind of