Thursday, September 20, 2007

Donors May Get Pickier with Gifts to Colleges

A group of wealthy philanthropists is establishing a nonprofit organization to advise donors on how to attach legally enforceable conditions on gifts to their alma maters.

The new Indianapolis-based Center for Excellence in Higher Education is backed by three foundations, those of Bernard Marcus (Home Depot's founder), the Sir John Templeton Foundation, and the John William Pope Foundation.