Historically Black North Carolina Central University Sees Huge Drop-Off in Donations

The economic downturn has taken its toll on virtually all university endowments. But in addition to the decrease in endowment value, many colleges and universities are seeing drops in alumni contributions. This puts even more strain on the educational institutions’ financial health.

Just how bad is it? North Carolina Central University reports that total donations were down 62 percent in the nine-month period from July to April compared to the same period a year ago. Donations dropped from $7.1 million to only $2.7 million. Alumni gifts were off by 36 percent. Corporate giving declined by nearly 80 percent and donations from foundations were off by 99 percent.

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