British universities are a big draw for philanthropists, says BWB
A series of three of the largest donations in recent higher education history show that British universities maintain serious pulling power over global philanthropists.
Bates Wells Braithwaite, a law firm for charities and philanthropic giving, acted for what are believed to be three of the largest ever gifts to UK universities in recent times. One is the most generous gift in its subject area in the university's 900 years.
The largest of the three is a GBP75m gift from the McCall MacBain Foundation to Oxford University, which reinvigorated the Rhodes Trust for the 21st Century. Most recently, BWB advised on a GBP20m donation from Alphawood Foundation to School of Oriental and African Studies, University of London. The third gift, amounting to over GBP26m, accounted for the most generous gift to Humanities students in Oxford University’s 900-year history, establishing the Mica and Ahmet Ertegun Graduate Scholarship Programme.
"Our team at Bates Wells Braithwaite have been struck by this series of gifts to higher education institutions in the UK – GBP26m, GBP75m and GBP20m respectively is really quite remarkable,” says Julian Blake, partner and joint head of the charities department at BWB.
"It is striking that the number of donations over GBP10m to higher education institutions in the UK continues to increase. This reflects the quality of research and teaching in UK universities, and is a sign that philanthropists are giving what seems to be a greater proportion of their wealth. This might be surprising to some, given continued difficult economic circumstances. Such gifts are also a reminder that British universities are often first to meet the world's most pressing challenges across countless fields. BWB is thrilled to contribute its expertise in charity law to this important movement."
- By Category
- News from other sites
- Special Reports