Colleges and universities across the country raised $49.5 billion last year as 48.6% of the institutions said giving increased from 2019. The Voluntary Support of Education survey findings were released on Tuesday by the Council for Advancement and Support of Education for the fiscal year ended June 30, 2020.
While fundraising was down slightly from $49.6 billion in 2019, that year’s data was boosted by a single gift — Michael Bloomberg’s charities and foundation gave $1.8 billion to Johns Hopkins University. If that contribution was not included in the 2019 results, 2020 giving would have increased 3.6%, CASE said.
“In a year marked by uncertainty due to Covid-19 combined with a renewed passion for the power of community as seen in social justice movements across the globe, it is gratifying to see that giving to colleges and universities continues to play an integral role in transforming lives and society,” Sue Cunningham, CASE president and CEO, said in a prepared statement. “Advancement professionals, working with institution leaders and colleagues, have demonstrated an impressive response to unprecedented circumstances realizing philanthropic support for their institutions and for advancing education at a time when it was most needed.”
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