Philanthropy in the UK appears to be alive and well. Cranfield School of Management has announced a gift of £3m ($5.5m) while Warwick Business School has been given £500,000.
Cranfield is to use the donation from alumnus Nigel Doughty, co-founder of Doughty Hanson, a private equity fund manager, to establish a centre for the study of corporate responsibility.
Mr Doughty has identified corporate responsibility as an area crucial to the success of business. As well as funding the centre fully for the first five years, the money will be used to set up a trust fund to provide help for subsequent years.
For Warwick, the gift from Sir Nick Scheele, chancellor of Warwick University, is the largest donation the school has received to date.
Sir Nick says that while the concept of giving is well established in the US, in Europe and particularly in the UK, philanthropy is underdeveloped, leaving UK schools at a disadvantage.
“Throughout my career in business I have supported the concept of leading by example and accordingly have donated a gift of £500,000 in the hope that others will follow suit so that we can begin to redress the balance with our friends in the US and compete on a more even playing field.”