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Univ. Wis. U PennUSCUCSFDuke UCLAUniv. WashingtonUniv. MinnesotaUniv. MichiganOhio StateBerkeleyMichigan State0200400600800P ri va te f un ds raised, 2 000 ( USD M )= public = private 12 Even the most prestigious European universities have significantly lower private funds than top US public schools Average of t op10 US pu blicu niversit ie sC ambridge Oxfor d0100200300P ri va te f un ds raised, 2 000 ( USD M )13 US universities’ fundraising is facilitated through a large number of taxoptimal donation options Outright, taxdeductible gifts Property gifts Bequests Charitable Lead Trust Constant ine producing gift Variable ine producing gift Gifts to universities that optimize taxes ? Charitable gift annuity ? Charitable remainder annuity trusts ? Pooled ine funds ? Charitable remainder unitrusts 14 Most universities have a well developed website to explain fiscal issues to potential donors 15 Top fundraising and quality education are highly linked Not am on g of t op 50un iv e r si ti e s i n th e U SA mong top 50uni ve rsi ti es i n the UST op 2 0 f u nd rai sin g u niversit ie s in t h e US05101520“Wealthy” universities can ensure high quality education through: ? Best professors ? Best research and education facilities 16 Therefore most universities have set up Boards of Trustees to give an answer to key quality and independence issues ? How demanding can a funding pany be? Can it require a classroom to bear its name? Can it require a university research team to work together with its employees? Can it have any preemptive rights on the results of the research program that they have helped financing? Can it have an influence on the university recruitment policy? ? Will private funding be specifically invested in selected projects? ? Under which conditions can a funding pany play an advisory role for a research program? 17 Research and education quality is guaranteed through independent control: Harvard ex