“not sure alumni giving really makes a big difference”
It does, especially for the LACs. Looking at the richest institutions in the country is misleading. People give to Harvard and Stanford because they want the cachet of associating their foundation or business with the institution. So Stanford/Harvard have all kinds of funding streams from multiple sources. That’s a bizarre outlier. No one gives money to Albion College unless they went to Albion.
Post #75 is like pointing to the ten richest retirees in America to suggest that Social Security payments aren’t a big factor in household budgets. You’re right, Sheldon Adelson and Sumner Redstone aren’t living off their SS. But millions of people can only make ends meet because of those payments.
Look at Sweet Briar. They were done, and now they’re not done, because of changes in alumni giving.