February 21, 2012
Philanthropists, do you know where your money is?
I spent my professional life as a faculty member at the University of Virginia, and I watched what fundraising became at my school over 25 years. Today, I am a professor emeritus at UVA, and I still wonder if donors have any idea what they are giving their money to support. I have toyed with the idea of writing a book about the problem. I've even come up with a tentative title: Pimps, Whores, and Johns: Fundraising in Academia. Today's Washington Post has an interesting article titled "Hopkins lawsuit highlights questions about schools' obligations to donors." Prospective donors should read it carefully because once they write their checks, the deed is done. When school administrators take control of your money, they spend it the way they want, and if you don't like it, you can take them to court. Few donors are willing to do that, but universities don't want that kind of publicity so they should consider legal action if schools misuse their...(Read Full Post)