News for hackers. Stuff that matters.

A comment on Carnegie Mellon, University of Pittsburgh end use of legacy status in admissions. Parent comment

Re:Carnegie Mellon, University of Pittsburgh end use of lega... by melvinmelih on Wednesday July 19, 2023 @12:42PM (#36789326)
> They frequently lead to large capital investments that then have uncovered operational costs

The problem is not the high amounts, but most donations can only be used for a specific purpose, so even though the endowments are high, the actual working capital will be a lot lower.

[ Parent | on HN ]
Re:Carnegie Mellon, University of Pittsburgh end use of lega... by bell-cot on Wednesday July 19, 2023 @01:42PM (#36790293)
Plausible. OTOH, a institution can Just Say No to somebody who insists that their donation be used for something which is un-needed. Or will be an ongoing maintenance money pit. Or that sounds plausible...but the complexity of the strings attached to the cash is not worth having to keep track of in perpetuity.
[ Parent | on HN ]