Giving to higher education expected to grow 5.7%

Philanthropic giving to American education is likely to rebound to pre-recession levels, according to a survey that forecasts fundraising results for the 2010-2011 academic year.

The latest semi-annual survey by the Council for Advancement and Support of Education forecasts a 5.7-percent increase in donations to schools, colleges and universities in 2010-11, close to the 20-year average annual increase of 6 percent.

Looking back, fundraisers estimate that giving rose 4.3 percent in the just-ended academic year, and even that is a big improvement. Institutions experienced “significant declines” in fundraising in the 2008-09 academic year, the council said in a release.

Survey responses suggest that “donors are feeling more confident about their own financial circumstances and are beginning to renew their remarkable tradition of giving to education,” said John Lippincott, president of CASE.

The survey tapped fundraisers at more than 2,000 member institutions in the first two weeks of this month.

I’m not entirely sure, though, how this news relates to yesterday’s report on rising cynicism among younger alumni toward giving to their alma mater.

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Source: Washington Post