The downturn in the economy is making development officers at business schools increasingly nervous about the prospects of raising money from financially stretched donors.

While most business school fund-raisers say that large capital gifts – those of more than $100,000 – will probably be unaffected by the economic slump, they predict a softening in rates of alumni participation and a decline in giving from young alumni who make smaller gifts of about $1,000.

“In many ways, the impact of economic downturns are intuitive,” says Michael Burton, assistant dean for advancement at the Fox School of Business at Temple University. “When organisations and individuals feel wealthy, they are more inclined to make philanthropic commitments. When they do not feel wealthy, they are less inclined.”