Another challenge: Colleges typically have little flexibility on how endowment dollars are spent, Kaplan noted. Completely unrestricted gifts amounted to just 7.9 percent of donations; the rest are given for specific purposes, such as research, scholarships or endowed professorships. Roughly 14 percent was donated for buildings, property and equipment.
Alumni giving rose 9.9 percent nationally, and accounted for about 26 percent of the donations colleges receive. Corporate donations rose 6.6 percent. Donations from foundations, which remain the largest source of support at about 29 percent, rose 3.3 percent.
Follow Justin Pope at http://www.twitter.com/JustinPopeAP.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.