Harvard finishes second to Stanford in fundraising - Yale drops from 3rd to 8th

From Prateek Kumar at the Harvard Crimson:

Harvard finished second to Stanford in fundraising this fiscal year, according to an annual survey published by the Council for Aid to Education (CAE), raising $614 million dollars. Cardinal out-raised Crimson by over $200 million dollars.

The University of Southern California, Johns Hopkins University, and Columbia University rounded out the top five institutions. In total, American institutions of higher education received nearly $30 billion in donations, an increase of 6.3 percent over the previous year.

The 20 institutions with the highest levels of fundraising account for nearly a third of that increase, about $518 million. These schools raised over $7.5 billion, representing a quarter of total donations.

Yale saw a drop of 9.7 percent from 2006 to 2007, which resulted in a drop from third to eight.