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July 3, 2008

Oklahoma's Matching-Gift Backlog Booms Despite Moratorium

Instead of helping to clear Oklahoma’s $225-million backlog of matching-gift obligations, a July 1 moratorium enacted by the state Legislature on the program has set back the state even more.

That’s because the June 30 deadline for gifts to qualify for matching funds spurred $128-million in new donations to the state’s universities, The Oklahoman reported today. Now the backlog stands at $353-million.

In the two months after the moratorium was enacted, the University of Oklahoma raised $61-million for endowed chairs. Oklahoma State University raised more than $66.8-million, not counting a $100-million gift this spring from the billionaire oilman T. Boone Pickens.

The backlog could take years to clear, the newspaper reported. Until it is fulfilled, the moratorium will remain.

“At some point, you just can’t keep up with it,” said Rep. Ken Miller, chairman of the state’s House Appropriations and Budget Committee. —Kathryn Masterson

Posted on Thursday July 3, 2008 | Permalink |