Shaking the money tree harder than ever, U.S. colleges and universities are carting off a rich harvest of gifts. The 1956-57 take: $832,937,123, received by 910 private and state-run schools. In 1954-55, according to a survey released this week by the American Alumni Council, the American College Public Relations Association, and the Council for Financial Aid to Education. 728 four-year institutions surveyed reported gifts of only $336,030,106. Increase within three years for the 553 private colleges and universities taking part in both surveys: 101.6%.
Philanthropic foundations in 1956-57 handed out 39% of the gifts—$319 million. Next most generous source: alumni, who donated...
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