CASE Releases New Study on Principal Gifts
Media Contacts:
- Naomi Dillon, CASE: [email protected]
- Julia Ehrenfeld, Bank of America: [email protected], 646-855-3267
June 21, 2022—CASE has announced the findings of its first major study on principal gifts. The CASE Study of Principal Gifts to U.S. Colleges and Universities, conducted with generous support from the Bank of America, offers a detailed look and new insights into the transformative impact of major gifts at educational institutions across the U.S.
The study finds that for many colleges and universities, gifts of varying sizes can have lasting and cumulative effects at the institution. Among many major findings:
- 25 of the 70 principal gifts reported to CASE through the study were for less than $5 million.
- The median value of the largest gifts from individuals rose by 31% in inflation-adjusted terms between 2005 and 2021. Similarly, the median largest gifts from foundations rose by 35% during the same period.
These gifts not only fund important institutional priorities, they also can act as a catalyst for additional giving.
The study builds on CASE’s longstanding Voluntary Support of Education survey, the definitive source of information on philanthropic support to higher education institutions in the United States. In administering the study, CASE invited a broad cross section of institutions to share detailed information on the most significant gift from an individual donor or donors received in the last five years.
“I love the fact that this new study brings together high-level trends from the VSE data with a deeper dive into the stories and details related to specific gifts,” said Cara Giacomini, CASE's Vice President, Data, and Research and Technology. “Our hope is that this information will serve as a unique asset to our members in understanding the nuances of transformative gifts and the role they play in fundraising.”
Among other useful insights, the study shows that the generous people and organizations providing these gifts are varied and do not fit into preconceived notions. Only half of the individuals giving the largest gifts are alumni and, while many donors have longstanding ties to the institutions they support, a sizable minority are new friends.
The study, when viewed in conjunction with Bank of America’s longstanding research on giving by affluent donors conducted in collaboration with the IUPUI Indiana University Lilly Family School of Philanthropy, shines a spotlight on the nature of transformational gifts to higher education.
“We were thrilled to support CASE on this important study, which will serve as a valuable resource to college and universities as they examine their donor strategy,” said William Jarvis, who heads strategic thought leadership in Bank of America's Philanthropic Solutions Group. Bank of America oversees $65 billion in discretionary assets for endowments and foundations and more than $63 billion in additional philanthropic assets.
“As underscored in the research and supported by our own work with affluent clients, donors have continued to generously support causes and institutions they care about despite the stresses experienced during the pandemic and its aftermath. In the years ahead, institutions will need to invest in discerning these donor’s interests and values in order to continue to grow major gifts,” said Jarvis.
The threshold value for what constitutes a “principal” or “transformative” gift varies depending on institution type, size, control (public or private), mission, and community served. To determine a threshold value for “principal gifts,” CASE examined five years of VSE data from 1,109 institutions, calculating the average threshold value of the top 10% of largest individual gifts reported by associate’s/community colleges, baccalaureate institutions, master’s institutions, and research/doctoral institutions. The survey invited respondents to report on gifts that were transformational for their institutions and met or exceeded these thresholds.
“The study shows that institutions of all types should be vigilant in identifying and cultivating supporters,” said Giacomini. “One can never be sure when—or from what source—a gift may come that can have a dramatic impact on the institution for years to come.”
CASE plans to include international participants in future studies of principal gifts. And in the coming year, CASE will begin incorporating the CASE Global Reporting Standards into all CASE surveys, allowing for better tracking of trends in important areas, such as principal gifts, regardless of country or sector.
About CASE
CASE—the Council for Advancement and Support of Education—is a global, not-for-profit membership association with a vision to advance education to transform lives and society.
CASE is the home for advancement professionals, inspiring, challenging, and equipping them to act effectively and with integrity to champion the success of their institutions. CASE defines the competencies and standards for the profession of advancement, leading, and championing their dissemination and application with more than 97,000 advancement professionals at 3,100 member institutions in 80 countries.
Broad and growing communities of professionals gather under the global CASE umbrella. Currently these include alumni relations, development services, communications, fundraising, government relations, and marketing. These professionals are at all stages of their careers and may be working in universities, schools, colleges, cultural institutions, or other not-for-profits. CASE uses the intellectual capital and professional talents of a community of international volunteers to advance its work, and its membership includes many educational partners who work closely with the educational sector.
Headquartered in Washington, D.C., CASE works across all continents from its regional offices in London, Singapore, and Mexico City to achieve a seamless experience for all its stakeholders, particularly its members, volunteers, and staff.