STATE COLLEGE, Pa. - Penn State said its fundraising efforts are on the rebound after donations fell sharply following 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 said 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 money the university actually collects, amounted to about $238 million last year. That's an increase of $29 million from a year earlier.
Sentencing has been scheduled for three former top officials at Penn State University who were convicted of child endangerment in the Jerry Sandusky molestation scandal.Read More »
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