Fundraising for universities by alumni efforts: a literature review

Abstract

Higher education is co-financed by the state, municipalities, as well as various local and international funds, but the support of individuals and businesses, known as patronage, is playing an increasingly important part. Here, the contributions of alumni are of a great consequence, ranging from cash donations, in-kind donations, volunteering and pro bono contributions. To receive these diverse donations, universities must work diligently on their communications strategy with alumni, current and potential patrons. This strategy should be diversified on the basis of age, gender and wealth. Successful fundraising campaigns are based on a well-thoughtout and ad hoc approach, where each participant clearly understands the goals and objectives of his or her activities.