Penn State Says Fundraising Bounced Back Last Year
STATE COLLEGE, Pa. (AP) -- Penn State says its fundraising efforts are on the rebound after donations fell sharply after the arrest of former assistant football coach Jerry Sandusky on child molestation charges.
The school said Monday that total alumni giving reached nearly $88 million in the year that ended in June. That's up from about $71 million a year earlier but still down from $131 million in 2010-11.
The total number of donors rose to an all-time high of about 193,000, and the school says it's 92 percent of the way toward meeting a $2 billion goal for a campaign that began in 2007.
Total receipts, a measure of how much the money the university actually collects, amounted to about $238 million last year. That's an increase of $29 million from a year earlier.
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