McAllister & Quinn Managing Partner, John McAllister, was quoted in an Inside Higher Ed article published April 1, 2024. The article analyzes FY24 Congressionally Direct Spending allocated to colleges and universities. Congressionally Directed Spending (or earmarks) provides transformative funding for institutions of higher education for technology, equipment, research, academic programming, and economic development initiatives.
The money allocated presents a great boost for institutions at a time when resources and capacity are stretched thin on many campuses. John is quoted, “If you are a college president and you are looking for a creative way to fund an important project on your campus, you should definitely be engaged in this process.”
The FY24 budget was finalized in March 2024, and appropriates $1.3 billion to colleges and universities through earmarks submitted by their Members of Congress. In total, 483 individual institutions of higher education received funding for one or more earmark projects, with Congress funding a total of 707 projects for colleges and universities. The project funding amounts range from $20,000 to $36 million, with a median project funding amount of $1 million. Awarded project recipients spanned from 2-year institutions to major research institutions.
To read more about the FY24 earmarks funded for colleges and universities, check out the article “Congress Sends $1.3 Billion to Colleges in Federal Earmarks” on Inside Higher Ed here: https://www.insidehighered.com/news/government/2024/04/03/congress-sends-colleges-13-billion-projects?utm_campaign=IHESocialEditorial&utm_content=congress_sends_$1.3_billi&utm_medium=Social&utm_source=twitter.