The Eminent Scholar and Major Gift Challenge Grant Programs have raised $219 million in private donations and established 148 eminent scholar chairs and 707 major gift endowments.
The programs' success is affected by factors such as the universities' ability to attract private donations and their rates of return on endowment investments.
The Board of Regents has not determined the reasonableness of administrative fees charged by the foundations.
In fiscal year 1994-95, eminent scholar and major gift expenditures were primarily for instruction, research, and scholarships.
Florida provides more funds for its challenge grant programs than other states with similar programs.
The Legislature should require the foundations to annually report to the Board of Regents the amount of administrative fees they charge the universities.
The Board of Regents should ensure the administrative fees assessed by foundations are reasonable.

Copies of this report in print or alternate accessible format may be obtained by email OPPAGA@oppaga.fl.gov, telephone (850) 488-0021, or mail 111 W. Madison St., Room 312 Tallahassee, FL 32399-1475.