While most state and publicly funded colleges have experienced budget cuts, tuition hikes and increased rates for student loans, many private universities have not only remained financially consistent but have even expanded during these tough economic times. According to a May 19 article from the Harrisburg Patriot-News – a Philadelphia area newspaper – private schools can credit this success to private donations.
The news source offers the example of Dickinson College, which just recently announced a $46 million upgrade and expansion plan. Lebanon Valley College has also raised nearly $55 million for renovations, endowment and more. And Messiah College will use $28 million out of the $40 million it raised between 2010 and the present day to create a worship and performing arts center.
Private colleges and universities tend to have an upper hand on finances due to large endowments. While funding for public schools is in flux with states feeling the economic pinch, a private institution's endowment and other forms of fundraising remain – for the most part – consistent. This allows them to also offer financial aid packages that many other schools cannot afford.
For example, Dickinson's fundraising campaign from 2004 to 2011 raised nearly $150 million with several alumni already pledging $1 million donations each for the next campaign, which the school just launched, also aimed at $150 million.
Private schools of any kind – whether in the higher education market or serving K – 12 students – may benefit from the use of upgraded private school software to track fundraising efforts. This software can help track donors, campaigns and funds with a variety of reports.
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