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School donations hit record $24.4 billion

After two years without growth, charitable contributions to U.S. colleges and universities rose 3.4 percent last year to a record $24.4 billion, according to a report released Wednesday.

The increase was driven by a 9.7 percent increase in giving from individual donors, including a 21.5 percent surge in giving by non-alumni individuals. That offset a 6.1 percent decline in giving by foundations.

Among alumni, total giving rose slightly, but the percentage of alumni donating fell, as it has every year since 2001.

Harvard University led the list by raising $540 million, according to the latest annual survey by the Council for Aid to Education, a unit of the RAND Corporation. The University of Pennsylvania was fourth, with $332.8 million. UCLA, 10th overall, raised the most of any public university - $262 million.

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