Colleges look to alumni for funds
The MetroWest Daily News
By Scott O'Connell
Posted October 01, 2012
As the state's financial support dwindles, local public colleges are instead turning to a more willing funding source: their alumni.
Both Framingham State University and MassBay Community College are embarking on ambitious new campaigns to bring more private dollars into their coffers to help pay for everything from student scholarships to construction projects. They're also reaching out to graduates to get them more involved.
Ten years ago, those attempts might have been met with some skepticism, said Dale Hamel, executive vice president of administration, finance and information technology at Framingham State.
" 'Why should I give? You're a state institution,' " was a common refrain, he said. "We don't hear that anymore. People recognize the state is not going to support us to the level it had in the past."
After seeing its state funding drop from 56 percent of its budget to 33 percent over the past decade, Framingham State launched a fundraising campaign last year with the goal of taking in $10 million in seven years. The initiative got off to a fast start its first year, generating about $2.1 million in donations, Hamel said - far above the $300,000 to $500,000 the school's past fundraising efforts would typically reap annually.
MassBay is also starting a new fundraising drive, with an initial goal of collecting $150,000 this year.
"It's a small goal to start," said college President John O'Donnell. "But we're quite confident we'll be able to build on it over time."
Read the complete article: The Milford Daily News