The panelists also noted that in recent years, donors have asked for much more control over how their money is spent and demanded that it go to specific purposes rather than general university expenditures.

Hauser said universities needed to be more willing to turn down money when it is only offered for projects that the university does not want. She noted that a rising field of litigation is donors suing universities, claiming their money was not spent according to their wishes.

Finally, several panel members discussed the growth of young philanthropists who have made large amounts of money in technology. One such philanthropist, Gregory C. Carr, co-founder of Boston Technology Inc., was on the panel.

Carr established the Carr Center for Human Rights Policy at the Kennedy School last year, based on his concerns regarding right-wing extremism in his home state of Idaho.

The day concluded with a dinner at the Gordon Indoor Track, featuring brief speeches by Stone, Hauser, Rudenstine and Fineberg, as well as performances by a number of student groups, including the Harvard University Drumline, the Harvard University Jazz Band, the Kuumba Singers and the Veritones.