A Welcome Funding Source for College Athletics: Women

Lisa Palmer, 51, a former star softball pitcher at Virginia who is actually currently president as well as chief financial officer of a real estate investment trust, endowed a softball scholarship there in 2014. currently she is actually the lead donor, with her mother, for a $10 million softball stadium scheduled to open at the university in March.

At Indiana University, women have given half of the philanthropic funding — at least $52 million of $105 million — for an ongoing capital campaign for athletics, including about $13 million of the $15 million donated to build a center focused on physical as well as mental wellness, nutrition as well as leadership as well as life skills.

The donations also include $40 million given in 2013 for the renovation of Indiana’s arena for men’s as well as women’s basketball by Cindy Simon Skjodt, whose father, Melvin Simon, was an owner of the Indiana Pacers as well as a leading mall developer.

“There has been a bit of a surge,” said Fred Glass, Indiana’s athletic director. By contrast, he said, the number of women who were lead donors for the university’s previous capital campaign for sports, by 2006 to 2010, “would certainly be closer to zero.”

In a broad context, sports philanthropy reflects that will women who have made their own money, inherited fortunes or outlived their spouses are controlling more wealth than ever inside the United States as well as are directing the idea to their favorite causes, including higher education, said David Callahan, the founder as well as editor of Inside Philanthropy, a digital media site.

“Philanthropy is actually very often a joint couple activity,” Mr. Callahan said. “yet there are more women donors who are acting autonomously as philanthropists.”

In fiscal 2018, a record $46.7 billion was donated to American universities, earmarked for areas like scholarships, financial need, technology as well as medical science research, according to a survey by the Council for Advancement as well as Support of Education. Against that will larger backdrop, Mr. Callahan said, “You can see how athletics would certainly be a beneficiary.”

Source : A Welcome Funding Source for College Athletics: Women