Colleges Mounting Ambitious Campaigns as Mega Gifts Rebound

Harvard University’s announcement Monday of a record $6.5-billion fundraising drive comes amid a proliferation of $50-million-plus donations to higher education, Bloomberg writes.

Sixteen such gifts have been recorded so far this year, double the number for all of 2012, according to Bloomberg. Philanthropy in higher education generally tracks U.S. stock performance, and the Standard & Poor’s 500 Index is up 20 percent this year.

“They not only have more confidence, they have more wealth to give away,” Donald Fellows, head of philanthropy consulting firm Marts and Lundy, said of major donors. “The institutions have greater needs and priorities too so they are also probably being more aggressive.”

See The Chronicle of Philanthropy’s list of the biggest gifts of 2013.