I was at MIT over 50 years ago. I used to give them money, not a huge amount, but enough to create what has become a permanent endowment under my name. However years ago, I had lunch with the then president of MIT and realized that MIT had changed. It was no longer the MIT I experienced. The student body was different, and clearly, they had tweaked the knobs and selected for a different profile of student. It made me…
What do you gain by donating money to the university? Is there a tax break for such donations? What good came out of your donations? Is there traceability and accountability of each dollar donated? I ask as I simply cannot fathom donating money to a university where the overarching aim is often to make money.
Like other charitable contributions in the US, it is tax deductible. What that means is donating $100,000 has an after tax cost of around $50,000 depending upon one's tax bracket.
Yes there is accountability, and I usually receive a nice note from a couple of the undergraduates that have their undergraduate research projects funded by my modest endowment.