PND (4/25/2000) -- <h3>Colleges Report Record-Breaking Year for Private Donations</h3>

U.S. colleges received private gifts totaling $20.4 billion in the 1998-1999 school year, the highest dollar total ever, reports the Chronicle of Higher Education. The amount raised represents an increase of almost 11 percent over the previous year's totals, the fourth straight year of double-digit increases.

"It's been an extraordinary time," said David Morgan, vice president for research and education services at the Council for Aid to Education, which published the new figures in its annual report on giving.

According to the report, entitled Voluntary Support of Education, the biggest increase in giving to colleges — 15 percent — came from foundations, corporations, and other organizations. Giving from individuals rose more modestly, by 7.4 percent. Overall, this year's increase was smaller than those in the three preceding years. Researchers attribute the slower growth in giving to a weaker stock market performance.

"What happens in the stock market affects people's propensity to give and how much they will give," noted Morgan.

The report also tracks giving to private elementary and secondary schools. According to the Chronicle of Philanthropy, giving to such schools decreased by roughly 3 percent. However, the report's authors cautioned that the figures for private schools are based on a less representative sampling than those for higher education and may therefore be less reliable.

Lively, Kit. "U.S. Colleges Pull In $20.4 Billion in Another Record Year for Private Giving." Chronicle of Higher Education 5/1/2000.

Hall, Holly "Donations to Colleges Rise 11 Percent, but Rate of Growth Slows, Survey Finds." Chronicle of Philanthropy 5/4/2000.

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