Stanford University is 1st College to Raise $1B

By Terence Chea. Stanford University has set a new record for college fundraising, becoming the first school to collect more than $1 billion in a single year, according to a report released Wednesday.
For the eighth straight year, Stanford ranked first in the Council for Aid to Education’s annual college fundraising survey, which shows that elite institutions continue to grab a disproportionate share of donor dollars.
In the 2012 fiscal year, roughly 3,500 U.S. colleges and universities raised $31 billion, 2.3 percent more than the previous year. The record was set in 2008 when schools took in $31.6 billion before fundraising dropped during the height of the financial crisis. Read more...