Total fund-raising is less than last year, however, with a warning of donor fatigue among tycoons
Universities have raised more than HK$1.4 billion in donations under the government's third matching grant scheme, but have taken more time and raised less cash than last year.
Fund-raising experts are warning of 'donor fatigue' after universities declared only a handful of major gifts from tycoons - and none that compared with the most spectacular donations in the second scheme.
But several institutions have seen big increases in the number of small- and medium-sized donations, after drives targeting alumni, companies or the community.
The University Grants Committee sets aside HK$45 million for each university in the first stage of the HK$1 billion scheme and pledges to match it dollar for dollar. Further cash raised is matched at 50 per cent up to a HK$250 million ceiling.
But the committee has now extended the first stage of the scheme to March 15, after university fund-raisers brought in HK$179 million less cash by the January 31 deadline than they had netted by November in the second scheme.
Committee deputy secretary-general Mary Tsang Fung-yee said it expected HK$900 million of the total would be claimed by the end of the scheme. Officials were reviewing the effectiveness of matching grants and it was too early to say whether a fourth scheme would run.
