A record $40.3bn was raised by US colleges and universities in 2015, according to the Council for Aid to Education, but 18 per cent of that went to just 10 institutions — and Stanford University alone raised $1.63bn.
The CAE study was released on Wednesday, the same day the National Association of College and University Business Officers (Nacubo) said that the largest endowments returned an average 4.3 per cent in the most recent financial year, compared with a 2.3 per cent average for the sector.
Evidence of the increasing concentration of wealth among elite institutions will stoke a debate about the best places for wealthy individuals to direct their philanthropy at a time of concern about inequality.
While opponents argue that giving to elite schools perpetuates inequality, many donors say their money supports scholarships and other programmes to widen access.