Contributions to U.S. colleges and universities in the fiscal year that ended June 30, 2021, totaled $52.9 billion, a 6.9 percent increase (5.1 percent adjusted for inflation) from $49.5 billion the previous year, an annual survey published by the Council for Advancement and Support of Education finds.

Based on responses from 864 institutions of higher education, the Voluntary Support of Education: Key findings from data collected for the 2020–21 academic fiscal year for U.S. higher education institutions (12 pages, PDF) found that foundations accounted for the largest share (33.1 percent) of dollars raised, followed by alumni (23.2 percent), non-alumni individuals (16.6 percent), other organizations (13.9 percent), and corporations (13.2 percent). Giving by alumni increased 10.8 percent (8.9 percent adjusted for inflation) on a year-over-year basis, while contributions from other organizations—which include donor-advised funds—grew 9.1 percent (7.3 percent) and foundation funding rose 6.4 percent (4.7 percent). By contrast, in FY20 contributions from both foundations and alumni had been down from the previous year.

The survey also found that unrestricted gifts for operations, while they represent only 7.4 percent of total contributions, jumped 30.2 percent in FY21—compared with a 3.7 percent increase for restricted gifts—thanks in part to MacKenzie Scott’s gifts to institutions that typically raise relatively small amounts. Other notable gifts included Bloomberg Philanthropies’ $100 million commitment to historically Black medical schools and the Lilly Endowment’s grants totaling $87.5 million to theological seminaries. Among survey respondents, eight research and doctoral universities and one private baccalaureate institution received single contributions of at least $100 million, which totaled $1.46 billion.

According to the report, the increase in giving was fueled by a strong stock market, with large gifts often made in the form of securities. In FY21, 393 respondents reported that gifts of securities and cash increased by 6.2 percent and 13 percent, respectively.

“We’ve seen overall increases in unrestricted giving in response to the visibility of stark local needs, which were exacerbated by the pandemic,” said CASE vice president for data, research, and technology Cara Giacomini. “This general trend along with a recognition and desire among those with means to bridge those gaps boosted giving to certain institutions.”

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