This week featured some interesting political news regarding campaign contributions: confirming the partisan shift on Wall Street, Business Week revealed that around 70 percent of Goldman Sachs employees who have donated to this year’s presidential campaign send funds to Mitt Romney. The contrast to 2008, when about 75 percent who made contributions had donated to […]
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Most people believe that “in perpetuity” means forever, or at least until hell freezes over. But not the University of California at Los Angeles, which is now proceeding to sell a Japanese garden that it had accepted as a gift after promising to keep and maintain it “in perpetuity.” How, you may well ask, can they […]
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From reading news stories about multimillion-dollar gifts to universities, it’s easy to get the impression that the donors are mostly rich people with pronounced ideological agendas–or else they wouldn’t open their wallets so readily. In April 2010, for example, the billionaire-financier George Soros, known for his funding of progressive causes and his efforts to defeat George […]
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At several universities this summer, hope will float and perestroika will pay. At the end of August, Princeton, Harvard, Smith, Stanford, and Yale are taking the currying of favor with wealthier alumni seabound. For the fifth straight year, Princeton and other sponsoring universities are joining forces with a for-profit, West-coast speakers and travel bureau, this […]
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Most colleges and universities plan to tighten their belts during this recession year, what with shrunken endowments, curtailed donor gifts, and students and parents suddenly feeling too strapped to pay high tuition costs. Yet for a lucky few institutions—institutions with connections to members of Congress—this year will provide some unusual financial bonanzas, thanks to a […]
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The nearly six-year-old lawsuit between the heirs of donors Charles and Marie Robertson and Princeton University over who controls the assets of the Robertson Foundation has been settled. Princeton has now acquired most of the Robertson Foundation’s endowment, enabling it to exercise control over the foundation’s assets, which amount to between $600 and $700 million, […]
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Some universities are nervous about the Ralph Papitto controversy . Papitto, 80 years old and very wealthy, used the N-word in a discussion of diversity at a trustees meeting of the Roger Williams law school, which bears his name. After protests, Papitto requested that his name be removed. But that appears to be in response […]
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