To endow or not to endow?
Clark College Foundation CEO Lisa Gibert penned a paper for the spring 2022 edition of the Journal of Education Advancement and Marketing. The publication has a series of peer-reviewed articles and case studies on advancement, alumni relations and fundraising for educational institutions. The paper, “To endow or not to endow? A question of Shakespearean proportions facing higher education today,” dives into the role of endowments in higher education.
It explores how institutions are wrestling with the best ways to create financial stability, especially for community colleges. These colleges are taking on more of the responsibility of educating individuals who have traditionally been left behind at institutions of higher learning.
The article also addresses the five most common myths about endowments, including that they are large pots of money for colleges to spend any way they choose, and that endowments represent the amount of cash an institution has on hand.
“An endowment links past, current, and future generations. It allows an institution to make commitments far into the future, knowing that resources to meet those commitments will continue to be available,” the article notes from a 2014 report by the American Council on Education.