What downturn? Yale raises nearly $4 billion

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<p>What downturn? Yale raises nearly $4 billion</p>

<p>Funds will help pay for Yale's largest expansion in more than 40 years </p>

<p>msnbc.com staff and news service reports
updated 7/5/2011 11:40:28 AM ET 2011-07-05T15:40:28</p>

<p>NEW HAVEN, Conn. — Yale University has raised $3.88 billion despite the worst economy in decades, finishing the largest fundraising campaign in its history.</p>

<p>The Ivy League school plans to use the funds for its biggest expansion in decades, to extend its international reach and to make its school of music tuition free.</p>

<p>The five-year campaign exceeded its goal of $3.5 billion. More than 110,000 alumni, parents, friends, corporations and foundations contributed.</p>

<p>Yale launched the campaign in 2006 with a nucleus fund of about $1 billion, and by 2008 giving from all donor groups had reached $2.3 billion, according to a university press release.</p>

<p>The global economic crisis brought a decline in giving for 2009 and 2010, but the final year of the campaign broke all records, with contributions totaling more than $857 million in the last 12 months.</p>

<p>According to a university report, nearly 2,000 donors gave $100,000 or more during the campaign, and 10 donors made "transformative" gifts of $50 million or more.</p>

<p>The campaign will help pay for two new residential colleges expected to increase student enrollment by 15 percent to 6,100. It will be the university's largest expansion since it began admitting women in 1969.</p>

<p>Yale plans to add more international scholars to its faculty and add funding for every undergraduate to work or study abroad.</p>

<p>Source: What</a> downturn? Yale raises nearly $4 billion - US news - Giving - msnbc.com</p>

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<p>There’s no downturn for the nobility, just for us serfs. Guess which class dominates among Yalies? </p>

<p>Sent from my SAMSUNG-SGH-I897 using CC App</p>

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<p>Considering that the “economic downturn” was really a pillaging of everyday people by a small number of elites, Yale’s wealthiest alums are likely better off than ever</p>

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<p>Wait, why are people hating on wealthy alumni donors?</p>

<p>Good for Yale.</p>

<p>My only comment is that if I had $50 million to throw around, I’d donate it to saving the elephants/whales/tigers, or to ending oppression in Sudan, or, you know, to something more worthwhile than building extra college dorms, but then again, it’s not my money. Again, whatever. People are allowed to give back to their school.</p>

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<p>Touche, annasdad.</p>

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<p>From this article, it says: [Promise</a> of Berkeley - Spring 2011: A new reality: Philanthropy fuels Cal’s future](<a href=“http://promise.berkeley.edu/spring_2011/new_reality/]Promise”>http://promise.berkeley.edu/spring_2011/new_reality/)</p>

<p>According to the Chronicle of Higher Education, at least 10 universities are currently running campaigns at the $3-billion level or above, with Stanford topping the list with a $4.3 billion goal. Berkeley is one of just two universities on this list that does not have a medical school, which can account for as much as 50 percent of gift revenues.</p>