This digest summarizes issues raised in a research report on fund raising in higher education. The following questions are addressed: What are the changes and trends since the early days of educational fund raising? What are the implications? What is known about spending? What is known about donor behavior? What are the major ethical issues? What are the practical implications? and Where should future research focus? Among trend changes noted is the expansion of fund raising from independent colleges to public institutions, the replacement of the notion of charity by that of philanthropy, and the changing place of fund raising from a peripheral to a central institutional activity. A consistent association between dollars spent on fund raising and results of fund raising is noted, and it is suggested that internal rather than cross-institutional comparisons should be used for determining optimum spending levels. Research on donor behavior is seen to favor exchange models over models of altruism. Ethical issues are identified concerning provision of information to donors, knowing which gifts to refuse, and determining obligations of fund raisers. Practical suggestions are made to institutions (e.g., they should consider sources of private support strategically) and suggestions are made to professional associations and foundations (e.g., they should support institutions in shaping their fund raising to reflect demographic changes). It is recommended that additional research address spending and the effectiveness of fund raising, consistency of college mission, and formation of alumni donors' attitudes. Includes four references. (DB)