Question: Can philanthropy fill the gap left by reduced federal research grants?
Bob’s Answer: YES
Philanthropy already plays a significant role in scientific, engineering and medical research in the U.S. Over $4 billion annually is contributed to operations, endowment and buildings for research. When combined with endowment income, university research funding from science philanthropy is $7 billion annually. This major contribution to U.S. scientific competitiveness comes from private foundations and gifts from individuals. We must increase this even further to fill the gap left by reduced federal grants.