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The continued rise of big gifts to the top universities should cause us concern, but not unreasonable concern; some substantial societal benefits come from those top universities.

"Last year, we ran a sad story about LaGuardia Community College in New York City celebrating a $2 million gift from Goldman Sachs. The gift was the largest ever for a school that mainly enrolls lower income kids of color, and what was so pathetic was that it would nearly double LaGuardia’s endowment.

"Meanwhile, nearly every week, Inside Philanthropy reports on yet another eight- or nine-figure gift to elite universities that are already rolling in dough."--David Callahan, Inside Philanthropy

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