The final frontier for Europe
This month Insead launched what is probably the largest capital campaign among business schools in Europe, with a plan to raise �200m ($252m) for scholarships, research and facilities. The campaign follows on from the successful FFr700m ($135m) five-year campaign launched by the school in 1995.
Large though the sum seems in European terms, it pales in comparison to sums raised in the US. Harvard Business School, for example, launched a $500m campaign two years ago and just last month the University of Michigan announced it had received $100m half the Insead total from a single donor.
Gabriel Hawawini, Insead's dean, believes fundraising is “the last frontier” that European business schools need to cross in order to be on a par with their US peers. “As a school we are constrained: we don't have the resources that our US cousins have.”
The campaign will run to the end of the decade, and Prof Hawawini has agreed to stay on for an extra year as dean until 2006 to start off the fundraising. As with all announcements of such campaigns, the school already has nearly one-third of the money (�62m) in cash and pledges in the bag.
Prof Hawawini is adamant that there will be no school naming gift, though he believes each of the two campuses, in Fontainebleau and Singapore, could be named after a donor. Unlike US schools, which largely raise funds from wealthy individuals, only 50 per cent of the �200m will be personal donations, he believes. The remaining 50 per cent will come from corporations. In the 1995 campaign, by comparison, as much as 80 per cent of the donations came from corporations.
Persuading individuals to give generously necessitates a different approach from dealing with corporations, says Prof Hawawini. The school has to justify the funding of a business school rather than helping those in poverty, for example; it must persuade individuals that Insead is not competing with charities for developing countries.
“We say: Think of how Insead can help alleviate the problem. For example, giving scholarships to disadvantaged students.” Such students returning to their home country could bring greater benefits than a donation to a charity, he says.
This year has been a bumper year for US business schools the upturn in the economy has meant many individuals have chosen to give money to their alma mater rather than to the taxman. As well as Stephen Ross, the property developer who gave Michigan $100m, Samuel Garvin, who set up a consumer-products promotion company, gave $60m to Thunderbird in Arizona. David Tepper, a Wall Street investor, gave $55m to the business school at Carnegie Mellon University and Ernest Rady, a financial and property magnate, gave $30m to emblazon his name across the front of the new business school at the University of California, San Diego.
Such tax breaks are largely unavailable outside the US, but Prof Hawawini believes this is only half the problem. “The cultural factor is stronger than the fiscal one,” he says.
Another challenge for Insead is that its alumni are spread around the globe. But rather than seeing this as a handicap, Prof Hawawini believes it brings advantages. “It is more difficult from an operational point of view . . . but you can't raise �200m in one spot unless you are in the US.”
The funds raised will be used to improve three areas of Insead life. Half will be spent on faculty and research and 25 per cent will go towards scholarships to pull in the most talented students. At the moment just12 per cent of studentsreceive scholarships, much less than at top schools in the US.
The final quarter will be spent on facilities and infrastructure. In particular, investment will be made in videoconferencing and the other technology needed for Insead to operate its two sites. Overall, 20 per cent of the total sum will be targeted for Insead in Asia.
筹款：欧洲大学的最后一关
欧洲工商管理学院(Insead)本月发起一项可能是欧洲商学院中规模最大的筹资活动，计划筹资2亿欧元（合2.52亿美元），用作奖学金、研究和设备经费。在此之前，该校1995年曾发起一项为期5年的募资活动，成功筹集了7亿法郎（合1.35亿美元）。
尽管以欧洲人的眼光来看，这是一笔很大的数目，但若与美国商学院的筹资数目相比，它就要黯然失色了。例如，哈佛商学院两年前发起一场5亿美元的活动；就在上个月，密歇根大学宣布它从一名捐赠者那里收到1亿美元。这个数字是欧洲工商管理学院计划筹款总额的一半。
欧洲工商管理学院院长加布里埃尔?哈瓦维尼(Gabriel Hawawini)认为，对欧洲商学院而言，要想与美国同行并驾齐驱，筹款是有待开拓的最后疆界。“作为一所学校，我们受到限制：我们没有美国同行所拥有的资源。”
这场活动将持续至2010年底，哈瓦维尼教授已答应再在学院担任一年院长，直到2006年筹款活动开始。如同这类活动的所有声明一样，学院称6200万欧元现金和捐款承诺已是囊中之物，将近计划筹资额的三分之一。
哈瓦维尼教授坚持认为，不会以捐赠者的名字来命名学校，但他相信，枫丹白露和新加坡这两个校区都有可能以捐赠者的名字来命名。美国商学院大部分筹款来自富有的个人，欧洲商学院则不同。他相信，在欧洲工商管理学院将筹集的2亿欧元中，仅有50%将来自个人捐赠，其余50%将来自企业。比较而言，在1995年那次活动中，高达80%的捐款来自企业。
劝说个人慷慨解囊需要与劝说企业不同的方法，哈瓦维尼教授说。学校需要证明，资助商学院而非帮助穷人是有道理的。例如，必须让个人捐款者相信，欧洲工商管理学院并不是在和那些帮助发展中国家的慈善团体竞争。
“我们说：想想欧洲工商管理学院将怎样帮助减轻这个问题吧。例如，为困难的学生提供奖学金。”他说，比起直接捐赠给慈善团体，那些得到奖学金的贫困学生回到祖国后，他们带来的好处将更大。
对美国商学院来说，今年是个丰收年，经济的好转意味着，很多个人选择把钱捐给母校而不是税务官。房地产开发商史蒂芬?罗斯(Stephen Ross)给密歇根大学捐了1亿美元；开了一家软件产品促销公司的塞缪尔?加尔文(Samuel Garvin)向亚利桑那州的雷鸟大学(Thunderbird)捐赠了6000万美元；华尔街投资者戴维?泰普尔(David Tepper)向卡内基梅隆大学商学院捐款5500万美元；金融和房地产大亨欧内斯特?莱迪(Ernest Rady)出资3000万美元，将其名字饰在圣迭戈加州大学新商学院的门前。
这种避税方法在美国以外基本上是不会有的，但哈瓦维尼教授相信，这只是问题的一半。“文化因素比财政因素要强，”他说。
欧洲工商管理学院面临的另一个难题是，它的校友分布在全球各地。但哈瓦维尼教授并不把这看成是个障碍，而是相信这能带来好处。“从操作角度来看，这会更加困难……但除非你是在美国，否则你无法在一个地方就筹集2亿欧元。”
筹集的资金将用于改善欧洲工商管理学院生活的三个方面。其中一半将花在员工和研究上，25%将作为奖学金，以吸引最有才能的学生。目前仅有12%的学生获得奖学金，比美国顶级商学院要低得多。
最后25%将花在设施和基础设备上。尤其要对视频电话和欧洲工商管理学院运营其两个网站所需的其他技术进行投资。总的来说，资金总额的20%将用于欧洲工商管理学院在亚洲的运作。
