Tuesday, December 3 has been dubbed #GivingTuesday by the 92nd Street Y in New York City. They created the event last year to promote philanthropy in contrast to Black Friday and Cyber Monday and the general excess of shopping that takes place this time of year.
I’m getting a ton of emails in my in-box from various educational institutions that I have attended, worked for, or paid tuition to. With one exception, these are well-endowed organizations that don’t need my money. (I’m still making donations to these institutions, but I’m thinking carefully about how or whether to continue.)
#GivingTuesday is a great idea. It’s important to draw attention to philanthropy, and many organizations need the money. And many don’t. Some colleges use the money for scholarships, research, and investments in the library. Others are gilding the lily, or their climbing walls. But then there’s this: the colleges that have the most money are also the best stewards of a donor’s money. I don’t worry about Northwestern University or the University of Chicago keeping shoddy books, encouraging students to falsify financial aid applications, or admitting athletes with low academic credentials. But I also walk around those campuses and think, do you all REALLY need more buildings? Isn’t a little green space nice? What’s wrong with the old athletic training facility?
Alumni giving is the best measure we have of graduate satisfaction and institutional stewardship. It is a highly imperfect measure, but if you are comparing colleges, it’s a decent number to look at.
I’m planning to do more research on the finances of the institution that sends me the #GivingTuesday requests but that does not have a crazy endowment.
I actually work at one of the universities you mention. And no, we do not need a damn football field built on the lake. UGHHHHHH.
I’m giving money to my college because the endowment is low. But I will be donating to a certain item (the music building) rather than the university’s general pool.