Word: donors
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...very interesting dance to try and match the donor's dreams with the institution's dreams," says Radcliffe's Vice President for College Relations Bonnie Clendenning. "The institution's dreams are often severely constrained by tradition, legal issues and allocation of scarce resources, versus a donor's interests which are often very single-minded...
Andy K. Tiedemann, director of communications in Harvard's development office, says the University usually receives large gifts after extended consultation between the donor and Harvard officials--consultation that usually prevents the donor from sticking to an impractical idea...
However, bequests are another story. Often the school will not learn of the gift until the donor has died, leaving little time for negotiation. One gift left to Radcliffe, for example, was a piece of jewelry that came with the stipulation that it must be worn by the president of Radcliffe...
According to Clendenning, the College was able to work with the donor's heirs to release the president from this duty...
...sounds like a sweetheart deal for Jacobson so Jacobson can increase what he gets paid," said Albert F. Gordon '59, a retired investment banker and securities analyst for Kidder Peabody and Marcus Schloss, donor and long-time critic...