Wharton’s donations fall after Hamas attack on Israel causes rift between business college and donors

Donations have dropped at the University of Pennsylvania’s Wharton School since Hamas’s October attack on Israel sparked tensions between the Ivy League business college and its donors, who have raised concerns over antisemitism and freedom of speech on campus.

The Wharton School’s dean, Erika James, told the Financial Times that gifts from funders dropped in recent months, though the losses were offset by extra revenues from tuition and income from the school’s other activities.

James wouldn’t give precise figures ahead of the end of the university’s fiscal year in June. Because UPenn is a private institution, its financials aren’t public.

“There has been a dip in donations,” James told FT. “In any year, one [income source] will underperform. Now philanthropy is coming back. We weathered the storm.’

Wharton’s tuition costs, as well as fees, housing, food, class supplies, and other personal expenses related to living on campus, totaled $92,228 for the 2023 school year, according to the university’s website.

By contrast, undergraduate programs at Wharton cost roughly $61,000 a decade ago.