University Business December 2006 - (Page 15)

DATA P O I N T Amount raised by higher education institutions in 2005. $25.6 billion Council for Aid to Education, which notes that individual giving accounts for half the total. If I Had a Billion Dollars ... Rankings Rancor: The `Beauty Contest' I N RECENT MONTHS A RASH OF INSTITUTIONS AN nounced capital campaigns with multibillion dollar goals. Which makes Lacks Integrity one wonder, is there that much money in the world? John Lippincott, DON'T ASK PRESIDENT PATRICIA MCGUIRE OF TRINITY president of the Council for Advancement and Support of Education, says Washington University D.C. about U.S. News & World there is. According to a study by Boston College professor Paul G. Scher- Reports' college rankings. Not unless you want to hear vish, during the first half of this century baby boomers will probably inherit charges that it's just a beauty contest and an admis- between $41 trillion and $136 trillion. Since 1980 annual giving to higher sion that surveys sent to her get education has doubled every year. Lippincott predicts that if that trend ripped up when they arrive. continues, we could see [total giving] close to $100 billion by 2020. And I am referring to the portion that won't be because of the dozen multibillion-dollar campaigns alone; of the survey that asks [presi- thousands of smaller campaigns are also being conducted, but overlooked dents] to rate [one to five] the in- by the media. Lippincott says most IHEs with an established fundraising stitutions in your area, she told team are either currently conducting a campaign, finishing one up, or plan- a recent panel on the subject of ning a new one. rankings. It has no integrity. What happens to all that money? Cornell University plans to use its There was no need for panel Patricia McGuire $4 billion for student aid, recruiting and retaining faculty, and improv- moderator Paul Glastris, editor-in-chief of The Washing- ing infrastructure. Columbia, Stanford and the University of Virginia have ton Monthly, to urge frankness among the seven panelists similar goals, with K-12 education thrown in for good measure, while Yale brought together by Education Sector, a nonprofit organiza- is also going to spend some on the arts. tion, in October to discuss the new research report, Col- CASE suggests campaigns not exceed seven years, but that institutions lege Rankings Reformed, which was broadcast on C-Span. not make it too short either; to raise $1 billion in one year would take bring- As soon as McGuire, leader of a small liberal arts religious ing in $2,739,726.03 per day. Let's put these staggering numbers into per- college in the nation's capital, interrupted the preliminary spective. Aside from state-of-the-art research labs, what will those eye-pop- softball questions with her statement, I don't mean to be ping amounts get you? out of order before launching into her objections to the http://www.crunchweb.net/87billion http://www.educationsector.org/events http://www.educationsector.org/events http://universitybusiness.com

Table of Contents for the Digital Edition of University Business December 2006

Table of Contents
College Index
Company Index
Advisory Board
Editor's Note
Behind the News
Viewpoint
Future Shock
Admissions
Financial Aid
On the Hill
EDUCAUSE 2006 Highlights
Technology Spending Survey '07
101 Smart Revenue Generators (and Money-Saving Ideas)
Parking: A Lot To Look At
Engaging Alumni Online
One River, Not Two Streams
Internet Technology
What's New
Calendar of Events
Direct Connect
End Note

University Business December 2006