A $40 million donation to a 2,200 student body college. Real money!
I believe Miami’s largest single gift is $47 million. It’s a bequest so Miami doesn’t have the money until he dies —-though he is currently 88.
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Upon my death, Miami will get-wait for it-less money from me.
skins66, Those who will not
That 2,200 student body college has a $1.6 billion endowment.
By comparison, Miami’s 20,000 student enrollment has an endowment of about $750 million.
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For Miami, you do need to consider what the state pitches in. There are currently three main annual revenue streams from the state: the instructional subsidy (same for all Ohio publics) the bonuses for high retention and graduation rates (pretty much only Miami and OSU get these) and half Miami’s share of the biennial capital appropriations bill. Take that total and multiply it by 22.22 x (which assumes a 4.5% disbursement of endowment funds), and that would be the amount of endowment that Miami would need to replace those funds.
Ohio is stingy with higher ed, but it’s still significant. I’m not saying it would get the endowment $ per student into Middlebury’s world, but it does add some perspective.
That is well and good.
However, the bigger point is that Miami probably has 8-10 times more living alumni than Middlebury but has half the endowment.
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No exactly a flattering picture of Miami’s alumni in terms of giving back.
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Yep. Most all of those NESCAC Little Ivies have hefty endowments.
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As someone who was accused of being overly critical of Miami in a similar thread, I’ll come to her defense here. I don’t think it’s a fair comparison to harshly judge Miami’s fundraising and donors against an extremely elite liberal arts college that is a huge pipeline into Wall Street and top 10 law, medical and business schools.
I think we’re on the top 20 list for colleges whose alums are billionaires aren’t we? Seems to me that was publicized fairly recently.
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20th in terms of alums with net worths >30 million:
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Gotcha. I thought I’d seen something that at least was indicative many of our alums were quite prosperous. That’s it. Thanks.
I wonder if these numbers reflect just undergraduate alums, or includes graduate degrees? Studies have shown that where you go to school for your undergraduate degree has no correlation to financial success whatsoever. However, where you get your graduate degree has a very high correlation. So I can see how places like Harvard, Stanford, Columbia, et. al. with their reputations and extensive alumni networks would have so many financially successful graduates (plus their proximity to NYC & Silicon Valley doesn’t hurt). I could also see how someone might be more energized to give to their graduate school then their undergraduate school…especially if they can draw a more direct line to that school being the “springboard” for their success.