CASE Insights on College and University Foundations

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The March 2026 CASE Insights report provides a preview of the 2025 Voluntary Support of Education (VSE) fundraising trends and findings from the 2025 College and University Foundation Survey. Based on 670 responding institutions, fundraising results indicate continued donor confidence with total funds received rising to $44.4 billion (up 4.1%) and new funds committed increasing 6.6%. However, key themes include short-term gains amidst broader uncertainties like inflation, political polarization, and questions about higher education's value, plus a noted decline in the number of donors despite increased dollars raised—particularly fewer alumni donors, with 69% of alumni donors having graduated over 30 years ago.<br /><br />Fundraising shifts show a stronger emphasis on immediate impact, with over half of funds directed toward restricted current operations and a smaller portion for endowment income. Individual giving increased while foundation giving declined overall. Realized bequests represented 23.7% of personal giving, an all-time high, with a 10.2% median increase in new bequest intentions.<br /><br />The 2025 Foundation Survey, completed by 29 foundations mainly representing research/doctoral institutions, focused on governance-relevant data such as endowment returns, funding sources, spending rates, staffing, and gift fees. Endowment median returns were 10.5% annually, with a median annual spending rate around 4%. Funding sources varied by endowment size, with endowment management fees constituting the largest portion (55%) of foundation funding overall. Approximately 55% of foundations assessed gift fees averaging 5%.<br /><br />The report emphasizes benchmarking against similar institutions to guide decision-making and encourages ongoing peer networking to understand trends and contextualize data. Foundations are advised to review their funding models regularly with leadership to adapt to evolving fundraising landscapes.<br /><br />For more details, CASE recommends participating in upcoming surveys and webinars, accessing member libraries, and engaging with peer groups to leverage this data for enhanced strategy and governance.

Keywords

Voluntary Support of Education

VSE fundraising trends

College and University Foundation Survey

donor confidence

alumni donors decline

restricted current operations funding

individual giving increase

realized bequests

endowment returns

foundation funding sources