The Daily Princetonian
Thursday december 15, 2016
page s1
TO GIVE BACK
PAGES DESIGNED BY ANDIE AYALA AND CATHERINE WANG :: STREET EDITORS
Led by Street Editor Andie Ayala‘19, Street explores the ways that Princeton can GIVE BACK this holiday season.
Giving Back... to Princeton?: How (and How Much) Alumni Give to the University Andie Ayala
Street Editor ‘19 When it comes to giving, Princeton alumni are incredibly well seasoned. A report from U.S. News found that last year, Princeton earned the highest spot, among 1,374 ranked schools, as the university with the largest percentage of alumni giving back. According to this report, over the past two years, an average of 63 percent of Princeton alumni donated back to the school. The Princeton Profile reports that the university received a total of $211 million in gifts and other income in 2016-17. Erika Knudson, the University director of Marketing and Communications at the Office of Development explained that the strong support that Princeton alumni give to the University is “one of the reasons why Princeton has been ranked number one on the U.S. News [Best Colleges] list.” She said that one of the points of the criteria for this is the levels of support alumni have for the University, and thus the fact that Princeton has the highest percentage of alumni giving back has a huge influence on the ranking. Following Princeton, U.S. News states that California’s Thomas Aquinas College and Massachusetts’ Williams College had the second and third greatest percentage of alumni who donated to their alma maters, with 58.7 and 55.8 percent respectively. However, according to a survey by the Council for Aid to Education’s Voluntary Support of Education, despite the fact that more alumni participated, Princeton alumni gave 39 percent less than Harvard alumni, who donated a total of $650 million in the 2015 fiscal year. Knudson noted that the process of ‘giving back’ to the University manifests itself in a multitude of different ways. In the annual giving campaign, class years of alumni and parents compete to give the largest amount of donations every year. These gifts are unrestricted and help support current students and faculty in initiatives such as extending the financial aid program and developing the neuroscience program. According to Princeton Profile 201617, since 1940, the Annual Giving campaign has raised more than $1.24 billion
Q&A
for the University, with 90.4 percent of alumni contributing at one point. Last year, the 2015-16 Annual Giving campaign raised $59,334,1444, the second highest total in the history of Annual Giving, only rivaled by the $61.5 million earned the year before. After graduating this year, 91.3 percent of the members of the Class of 2016 pledged to support Annual Giving for the next four years. While alumni contributions are still high compared to other universities, a Princeton Alumni Weekly article mentioned that participation in the annual giving campaign in 2015-16 actually decreased to the lowest level in seven years. In this PAW article, Assistant Vice President of Development for Annual Giving William M. Hardt ’63, is quoted saying that the protests to remove the title of Woodrow Wilson ’79 from buildings and programs were “almost certainly a factor, although not something a lot of people cited for not giving.” Hardt added, “In addition, we thought we detected something in the mood of the country — the presidential campaigns, terrorist threats, economic anxiety — a general mood of uneasiness.” In an article by Anemona Hartocollis published in the New York Times, it is noted that undergraduate alumni donations “dropped 6.6 percent from a record high the year before, and participation dropped 1.9 percentage points.” The article explains how universities, “particularly small, elite liberal arts institutions” from across the nation experienced a similar decline in donations in response to the protests and disruptions on campuses in 2014 and 2015. Despite this overall change in percentages, the press release for the Annual Giving campaign noted that the Class of 1986 broke the 30th Reunion record by raising $5,351,986, and the Class of 1940 set a new 75th Reunion record by raising $429,030. Seven other major reunion years were able to raise more than $1 million. Apart from simply giving money, Knudson states that many alumni also give to the University by volunteering their time. She said that these volunteers greatly contribute to the success of Annual Giving by asking their class-
ANDIE AYALA:: STREET EDITOR
Princeton’s active alumni base doesn’t just make Reunions a huge event, it has also donated nearly $400 million as of 2015.
mates, on behalf of the University, to give annual gifts. In addition, Knudson noted that while Annual Giving donations were unrestricted, alumni are also given the option to contribute to capital giving, which is used for the university’s fundraising priorities. These donations are endowed and invested by the Princeton University Investment Company (Princo), which ensures that scholarship funds started a hundred years ago are still able to continue supporting students today. Last year, Louis Simpson GS ’60 donated $10 million to establish the Louis A. Simpson Center for the Study of Macroeconomics, which will be dedicated to understanding how the economy functions on regional, national, and global levels. In an interview with the Office of Communications, Simpson commented, “I am delighted to give back to Princeton, which helped develop my passion for economics and
investing.” Additionally, capital giving can also include donations to specific programs that donors would like to support, including Princeton’s athletic teams, the art museum, libraries, Outdoor Action, Theatre Intime, and other activities on campus. Recently, on Nov. 29, Princeton Athletics raised more than $1.9 million during the 24-hour Tiger Athletics Give Day. The funds raised will be directed to the 37 varsity teams, 17 athletics friends groups, and one varsity club. Moreover, Knudson stated that donors also partake in planned giving through life income gifts or bequests in their will. As an example, musicologist and philanthropist William H. Scheide ’36, transferred ownership of the Scheide Library collection to the University after his death at age 100 in November 2014. This gift marked the largest donation in the history of the school, valuing more than $300 million worth of rare books and manu-
scripts. This library, accessible through Firestone’s Department of Rare Books and Special Collections, includes the first six printed editions of the Bible, an original printing of the Declaration of Independence, and autographed musical manuscripts of Bach, Mozart, Beethoven, Schubert, and Wagner, among other documents. In a Time Money article, it is noted that, including Mr. Scheide’s donation, there were “eight gifts of $100 million or more last year, for a total of $1.44 billion — which went to just four universities.” In this article, Diana Newman, a consultant who specializes in endowments and fundraising, stated that the donors aren’t greatly perturbed by the criticism of these so-called mega gifts. “I have a sense mega gifts are coming from people who see these as investments in the future rather than charitable giving,” she said. “They’re looking at what university could really make an impact.”
What Does Giving Back Mean to Princeton Students?
Mofopefoluwa Olarinmoye Contributor ‘20
This week, the Street decided to ask a variety of Princeton students about their thoughts on giving and “giving back.” The Daily Princetonian: When you hear the phrase “giving back,” what comes to mind? Ananya Joshi ’19: A sense of gratitude for all that I have been given, and a willingness to do the same for someone else as much as everyone has done for me. Yowan Ramchoreeter ’19: Investing my time to helping people. Delaney Thull ’19: I think of family, community, church, and spending time with the people you love and trying to go out of your way to serve other people. Benjamin Eisner ’17: Giving back to your community and friend groups — your community radiates out — mainly in terms of donations of time, money, and gift-giving. Alana Clark ’19: I typically think of the community I came from just because it’s more of an underprivileged one. So that’s what we always focus
on, not just during the holidays but throughout the entire year. DP: Do you think giving back matters more during the holiday period? If yes, why? If no, why not? Samantha Newman ’18: I would say yes because during the year you’re busy and caught up with everything, and you don’t think about everything that someone might be doing for you or someone means to you. It becomes more salient during a time of giving and thanksgiving. Belinda Azamati ’19: I think giving back is not just something you do at a time of year but a lifestyle. Christine Lu ’20: I don’t think it matters more, but it’s good to have the mentality that it does because it motivates people to want to give back more. If it were just the same throughout the year, people would not be motivated as much but if there is one set time during the holidays, they will be more likely to give back. DP: What does giving back mean to you? Malachi Byrd ’19: For me, giving back means, “What am I doing to provide for people that have my circumstances?” When I was at the beginning of my journey, people helped me. Giv-
ing back to me is like being that person that helped me, whether that is being a black boy, a poor person, a person with a single mother. Whatever my identity is, or whatever aspects of the world I identity with and challenge, I want to make sure that people can make the journey that I made because I did not do it on my own. DP: Has anyone or any situation inspired you to want to give back to your community? AC: When I was in high school, my boss always stressed giving back. She never paid attention to money and profit; it was always for charity. She owned a fashion store, so she would host charity fashion show events. I was able to learn different ways to be charitable and fundraise, which really inspired me to always do the same thing she did and never chase money but to chase happiness instead. In the end, what makes you happy as a person is knowing that you make a difference in someone’s life. Wolfgang Beck ’18: Since coming to Princeton, I have met a lot of people from different places around the world, and this time of the year, this year especially, I’m worried about the state of our country as far as it goes
with immigrants because there is a lot of hatred and xenophobia in our country right now. One way that I want to give back is to promote love between people. DP: What message would you tell people when considering the phrase, “giving back”? MB: My message would be to assess your perspective. To those who wish to give back to a community, you should consider who you are giving back to, and why. Ask yourselves, what makes you immune from being given back to? Why are you not in this allotted group of people that you think that you should give back to? I want to challenge people to reassess their boundaries of who deserves to be given back to, or who should be given back to, and where they are in relation to that. DP: If you had a blank check of time, money, and resources, what would you give? Who would you give it to? Why would you give it? Sophia Taylor ’20: I would take my mum on a vacation because I know she works really hard, and she’s honestly the best. SN: I would probably give my parents a honeymoon because they never
got to have one. YR: I feel very strongly about food issues. So, with an unrestricted amount of money, I would try to help out countries that are struggling with food crises, such as famines. BA: I would give an education, even though it is not tangible, because I think a quality education opens so many doors. A cool thing about knowledge is that once you know something, you know it. Once you know it, you’re empowered. Education inequality definitely exists in many Sub-Saharan African countries, like my home country of Togo, especially with girls. So if I could, I would give the gift of education to girls. Deniz Lenger ’17: The environmental concerns that are occurring across the world are one of the problems that are very prevalent to our generation. So, I would hope to give back in a way to help fix the environmental problems we have, in order to leave a better planet for the future generations. AJ: If I had all the money, I would give money to improve all the public education systems. Also, even though I am not an expert, I would volunteer my time to help out in some way concerning education.