July 2, 2008 | Read Time: 1 minute
Princeton University on Tuesday announced it has received three big gifts toward its capital campaign goal of $1.75-billion, one of which was a pledge for $100-million.
This type of nine-figure gift is the “new standard” in university development, writes Stan Katz, a public and international affairs professor and director of Princeton’s Center for Arts and Cultural Policy Studies at the Woodrow Wilson School, on The Chronicle of Higher Education’s Brainstorm blog.
But although Mr. Katz says he is grateful, he wonders whether these mega-gifts are being put to their best educational use.
“The question is: What is the relationship between the need to package mammoth ‘giving opportunities’ for major donors and the capacity to plan in accordance with good educational policy?” he writes. “Is there any reason to fear that the construction of buildings and the creation of endowed professorships may not be the best way to develop an educational institution? Are there parts of the university educational portfolio that are unlikely to attract huge bucks, and that therefore may be left to wither? I fear so.”
What do you think? Is there ever a downside to multimillion dollar donations? How could the money be put to better use?
