Stanford breaks college annual fundraising record, exceeds $1 billion

In an unprecedented display of fundraising prowess, Stanford has become the first college to raise more than $1 billion in a single year, according to a survey conducted by the Council for Aid to Education.

The University raised $1.035 billion last year, 46 percent more than the 2011 fiscal year’s $709 million total and significantly more than its 2006 record of $911 million. Stanford also outpaced peer institutions by a significant margin. Harvard and Yale came second and third, collecting $650 million and $544 million respectively.

Last year marked the eighth straight year Stanford ranked first in the Council’s annual college fundraising survey.

Stanford saw a rise in donations after the 2012 completion of the five-year Stanford Challenge—which raised $6.2 billion in total—and after the launch of the $1 billion Campaign for Stanford Medicine.

According to a report by the Associated Press, Stanford’s record-breaking fundraising efforts were due in part to the efforts of 79,000 donors. Notable donations include a $100 million gift from Silicon Valley investor Robert King ’60 and his wife Dorothy to the Graduate School of Business.

“Higher education for most people represents hope for a better future, and donors want to invest in that,” said Martin Shell, vice president for development, in the report.

About Ileana Najarro

Ileana Najarro is the Managing Editor of News at The Stanford Daily. She previously worked as a News Desk Editor and Staff Writer.