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February 08, 2012

Stanford's $6-Billion in Gifts Sets Record in Higher-Ed Campaigns

Stanford University raised $6.2-billion in a five-year drive that ended Dec. 31, which is by far the largest amount ever received in a university campaign, Bloomberg says.

The institution in Palo Alto, Calif., received 23 gifts of $50-million or more during the campaign, which was launched in October 2006 with an initial goal of $4.3-billion, about half of which had already been pledged. Stanford said the donations have been used to support more than 130 new faculty positions, 38 new or renovated buildings, and $250-million in scholarships.

Stanford's effort surpassed the previous university-campaign record of $3.88 billion, raised by Yale University in the five years ending June 30 of last year, according to the Council for Advancement & Support of Education.