Weekly Market Update

BENNETT COLLEGE RAISES MORE THAN $8 MILLION USING SOCIAL MEDIA

Thursday, February 7, 2019

A historically black women's college in North Carolina has soared past the fundraising goal it set in hopes of keeping its accreditation. Bennett College President Phyllis Worthy Dawkins announced Monday that the school has raised $8.2 million from more than 11,000 donors, surpassing its $5 million goal. The campaign drew media attention when Bennett posted the "Stand With Bennett" slogan on social media and the college began receiving support from alumnae, community leaders, national figures, and celebrities.

In Other News

  • A struggling college in western Massachusetts will not admit a full freshman class this fall as it seeks a merger. Hampshire College trustees voted Friday to accept only students already granted a spot at the liberal arts college in Amherst.
  • Western Michigan University, Stanford University, and Drury University are exploring programs that encourage students to learn outside of class. These programs focus on life skills in areas such as civic engagement, health and wellness, leadership, social justice, and sustainability. School officials began experimenting with student records that better reflect student experience, in addition to the traditional transcript.
  • College endowment returns averaged 8.2% in fiscal 2018 down from 12.2% in 2017, according to data from more than 800 institutions gathered by National Association of College and University Business Officers (NACUBO) and TIAA Endowment and Philanthropic Services. Ten-year returns stayed positive by growing to 5.8% but fell short of the 7.2% average long-term target for colleges.
  • Foundation Center, a source of data on philanthropy worldwide, and GuideStar, a source of information on nonprofit organizations, announced they have joined forces to become a new nonprofit entity named Candid.