December 8, 2006
When Good Gifts Go Bad
As the withdrawals of big pledges continue, colleges are taking a closer look at potential donors
Conrad Colbrandt gave Saint Mary's College of California a financial permission slip to dream big — a $112-million pledge to support new construction and endowments.
From the time that Mr. Colbrandt made his pledge in 1997 until 2004, talk of new athletics facilities and classroom buildings became real architectural plans, approved by the Board of Trustees. The college
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