U. of Kansas fundraising dwarfs state's budget cuts
- The University of Kansas' endowment has raised $432 million since 2010—3,100% more than the $13.5 million in state funding cut from the school over the next two years.
- Despite the Kansas University Endowment Association's massive fundraising, the university is still cutting staff, increasing tuition and lowering the number of students admitted to certain KU Medical Center programs.
- According to KU Director of Strategic Communications Jack Martin, replacing the lost state money with funds from private donations is much more difficult than people realize—private donations are usually earmarked for specific purposes, not the institution's day-to-day operations.
From the article:
... Be that as it may, KU still has a thriving endowment operation, and they’ve got the money and awards to prove it. So why not solicit university benefactors to make up the shortfall in state funding rather than pass the cost – and the cuts – on to students and staff?
Martin says donors want to pay for progress, not upkeep. In other words, it’s sexier to sponsor a new scholarship or a scoreboard than to make sure the university’s heating and cooling units are up to snuff. ...
- KansasWatchdog.org Read More
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