Tag Archives: high tea

Quirky Gifts Limit University Spending

Earlier this year the federal government started investigating the finances of America’s largest universities, a practice that is shedding light on how gifts from wealthy donors often have quirky strings attached that limit how colleges can spend their money.

Like the guy whose endowment to Princeton is currently valued at $33 million, but can only be spent on stuff related to Greece. Or the Dartmouth alum who mandated that his donation to the English Department be used to provide daily afternoon tea for students and faculty. How civilized!

I’m curious about what possibly questionable limits Wesleyan’s benefactors put on the spending of their money. A throwaway line in PCU comes to mind, where the ultra-PC president of Wesleyan’s doppelganger proposes to spend an endowment surplus on a brand-new Bisexual Asian Studies building.

In all fairness, our Bisexual Asian Studies program is pretty badly underfunded as it is. Seriously though, what’s up Board of Trustees?

Full NYTimes Article: When Strings Attached, Quirky Gifts Can Limit Universities