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Miami University receives millions in donations each year. The majority of donors place restrictions on what these donations are allowed to fund. In some situations these restrictions can be a killer, like when a donor leaves $1 million to construct bronze statues while areas like faculty and research remain under supported. Kaitlin Schroeder has the story.
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Transcript
NINE HUNDRED AND FIFTY THOUSAND DOLLARS COULD GO A LONG WAY AT THE INDEBTED MIAMI UNIVERSITY. IT COULD MEAN HELPING THE “FOR LOVE AND HONOR” CAMPAIGN. IT COULD MEAN NINE HUNDRED AND FIFTY STUDENTS GETTING A THOUSAND DOLLARS IN SCHOLARSHIPS. IT COULD MEAN AN ORGANIZATION NOT LOSING ITS FUNDING.
HOWEVER, DUE TO THE DONOR’S REQUEST, THE MONEY IS A RESTRICTED DONATION THAT IS GOING TOWARDS BUILDING NINE BRONZE STATUES OF MIAMI COACHES OUTSIDE OF YAGER STADIUM.
MOST YEARS, AROUND EIGHTY THREE PERCENT OF DONATIONS TO MIAMI, OR TWENTY-TWO MILLION DOLLARS, HAVE SOME SORT OF RESTRICTION PLACED ON HOW THEY CAN BE USED AND THE UNIVERSITY IS LEGALLY OBLIGATED TO USE THEM AS REQUESTED, NO MATTER HOW UNECESSARY THE PROJECT MAY SEEM.
ASSOCIATE VICE PRESIDENT FOR UNIVERSITY ADVANCEMENT BRAD BUNDY SAYS THAT THE AMOUNT AND TYPE OF RESTRICTIONS PLACED ON A DONATION VARY GREATLY FROM DONOR TO DONOR....
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