2014 Charitable Donations to Colleges = Record Year

The Wall Street Journal reported that Harvard, Stanford Lead Record Year for College Gifts; $37.5 Billion Is 10.8% Jump; Top 10 Schools Bring in 18% of Donations:

Colleges and universities received a record $37.5 billion in donations last year, led by massive gifts to Harvard University, Stanford University and other already-wealthy schools.

The new high, a 10.8% jump from the prior year, was due in part to stock-market increases that boosted capital gifts, as well as a jump in donations of art, according to an annual survey being released Wednesday by the nonprofit Council for Aid to Education. …

The top 10 recipients brought in nearly 18% of all gifts last year, up from 15% a decade earlier, according to Ann E. Kaplan, who directs the survey.

(Hat tip:  TaxProf Blog)

Nicholas Mirkay