A few weeks ago, I discussed how Ivy League schools came under fire from some leftist for not spending their endowments fast enough. Obviously this guy has been a succesful adviser to Congress.
Anyway, one of the differences between private and state schools is not just that many private institutions get a lot more per alumnus giving. Another big differentiator is how the money gets spent. Here is a great example of private giving taking on the, uh, most critical challenges in public education. Via Market Power.