How to set up a university centre with foundation money

Funding a university centre is a risky endeavour for all parties. Donors usually have less control over the results than in other cases and the university takes the risk that future costs will have to be covered through its own budget. The creation of the Center for Philanthropy Studies (CEPS) at the University of Basel offers some insights on how to create, and plan for the sustainable existence of, an institute with initial funds from foundations.