But the lost donations might not hurt the schools as much as you might think — at least when taken in isolation.
The donors blasting Penn also have given sums that, by any standard, are enormous.
Schools could battle a reputational blowUnless the pile-on keeps coming, which it very well might, these schools' bottom lines could be just fine.
"As prominent donors withdraw support, other donors may take that as a signal of the loss of institutional focus on education, and these many smaller donors may decide that they too should withdraw support," he added.
AdvertisementAdvertisementAt the same time, schools that shift their policies or statements in response to the backlash may be accused of pandering to donors.
Persons:
—, Marc Rowan, alums, Huntsman, David Magerman, Clifford Asness, Ronald Lauder, Victoria's, Les Wexner, Michael Hemesath, Penn, Rowan, Lauder, Elizabeth Magill, Hemesath, Max Cavitch
Organizations:
Harvard, University of Pennsylvania, Service, Ivy League, Penn, Wexner Foundation, Carleton College, Saint John's University, Harvard Kennedy School of Government
Locations:
Israel, Wharton