Endowments examined: harnessing historical research on philanthropy and education

John R. Thelin and Jennifer Wesley Siebenthaler

Chapter 12 in Advancing Research in Philanthropy and Education, 2025, pp 246-263 from Edward Elgar Publishing

Abstract: Endowments have long been prominent in American philanthropic and educational institutions. Our chapter combines historical context with contemporary accounting analyses of finance, tax laws, and public policies to interpret the changing endowment strategies college and university leaders have used as stewards of institutional resources. The endowment is historic, but it is not static. This is suggested by varied metaphors, such as a “pillar” for endurance, a “piggy bank” for frugality, a “gusher” for monumental campus construction, an “organic garden” of investments to nurture innovative projects, or a “gold star” to symbolize prestige in rankings and ratings of colleges and universities in admissions as well as a sign of financial health in Moody's credit ratings. Most recently, with Congress passing the 2017 Tax Cuts and Jobs Act legislation, academic leaders respond to tax legislation that could dissuade giving and federal initiatives that would require colleges and universities to increase and report endowment spending.

Keywords: Endowments; Philanthropy; Stewardship; Tax Laws; Accounting; History (search for similar items in EconPapers)
Date: 2025
ISBN: 9781789904093
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