College fundraising revenue will likely drop over the next two years as donors close their wallets to wait out the pandemic and resulting economic downturn, according to a new survey released today.
The survey by EAB, a higher education technology and consulting firm, queried 110 university fundraising professionals about current revenue projections [Advancement Forum COVID-19 Survey Report]. It found that more than 40 percent of colleges are projecting a 10 percent or larger decline in fundraising revenue for fiscal year 2020, which concludes for most institutions at the end of this month. More than one in five institutions expect fundraising revenue to fall by at least 20 percent, the survey showed.
In fiscal 2021, the declines are projected to be even steeper. Nearly 45 percent of institutions project double-digit declines in fundraising revenue, and a growing number of colleges project a decline of 30 percent or more compared to 2019 totals. …