Penn State Records Second Highest Fundraising Haul, Undeterred by Sandusky Scandal

Print Share on LinkedIn More

Penn State
trekandshoot /

July 9, 2012; Source: Washington Post

In is interesting to us that Penn State did not seem to suffer much of a hit to its fundraising as a result of the Sandusky/Paterno related scandal. It raised $208 million and also saw a slight increase in numbers of donations from alumni after two years of declines. Penn State started its current $2 billion campaign in 2007 and so far has raised $1.6 billion. The campaign will end in 2014.

According to the Altoona Mirror, the school is due to receive the findings of its own internal investigation, led by former FBI director Louis Freeh and they will affect the school’s ability to settle civil lawsuits out of court. But, in any case, the university has assured the public that private donations, tuition dollars and state appropriations will not be used to pay for costs associated with the Sandusky scandal. Okay but these costs, as of the end of April, totaled $11.9 million and money is money.

We’d love to hear reader thoughts about why the university did not suffer much of a decline this past year.—Ruth McCambridge

  • Mark Kohut

    More people motivated to show support because of the scandal….to say that is not all Penn State is/has been.

  • michael

    Remember, the scandal broke at the end of October….1/3rd of the way thru the fiscal year and by that time when many large suporters had already made pledges.

    So this just maybe a way for Penn State to spin it as business as usual

    Let’s wait till July 1, 2013 to see what the long term impact is on development.

  • michael

    Also note in the article that Penn State acknowledges its pledges for 2012-13 are already off 37%…..