What’s happening:
Ivy League universities are significantly lowering donation thresholds for dedications and naming opportunities, in some cases by up to 90%, as they seek to attract smaller donors. This shift comes as numerous Jewish mega-donors have ceased their financial support due to rising antisemitism on campuses.
Why it matters:
These elite institutions are facing a funding gap as substantial Jewish contributions, previously amounting to tens of millions of dollars annually, are being withheld. Jewish philanthropists are reevaluating their support for universities that they feel are not adequately addressing antisemitic incidents or the security of Jewish students.
By the numbers:
Donations that were traditionally in the range of $20 million for privileges such as dedicating a building are now being offered for as low as $2 million. This dramatic decrease underscores the financial impact of the Jewish donor retreat and the institutions’ urgency to find alternative funding sources.
Context:
The withdrawal of Jewish funding is occurring amidst a backdrop of heightened tensions and increased antisemitism on university campuses, particularly following conflicts involving Israel. A recent study revealed that 73% of Jewish college students have faced or observed antisemitism during the current academic year.
Voices:
Prominent Jewish leaders and philanthropists, including World Zionist Organization chairman Yaakov Hagoel and Jewish billionaire Henry Swieca, have publicly criticized the universities and called for a reevaluation of financial support. Swieca resigned from his board position at Columbia Business School, and Victoria’s Secret CEO Les Wexner cut off funding to Harvard University.
The bigger picture:
The shift in donor strategy at Ivy League schools not only reflects the current socio-political climate but also signals a potential change in the landscape of higher education funding. Universities may need to adapt to a more diversified donor base and address concerns of campus climate to maintain philanthropic support.
This story was first published on jpost.com.