Mystery Donor Gives $76M to Colleges

College students have it tough these days—scholarship money is scarce and even loans are harder to come by. Endowments are shrinking and the need for financial aid is exploding. Well, someone took notice—someone with $76 million dollars to spare.

In a mystery worthy of the finest TV detectives, an anonymous donor has given $76 million to 15 schools with two stipulations: the money be used for scholarships and the school never asks who donated the cash.

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No one knows for sure why the specific schools were chosen, but there are some similarities:

* All 15 colleges have female presidents.
* All but one are public institutions.
* Most are on the East Coast or in the Midwest.
* Much of the money is designated for scholarships for low-income or disadvantaged students.


Some experts are speculating that the philanthropist is a woman, since all of the colleges chosen had female presidents. Others suggest an older donor from the “World War II generation”, who tends to shy away from the public spotlight.

Or, experts say, it could be a more recent figure that simply doesn’t want to be bombarded with additional requests for donations. Oprah Winfrey, the Leona Helmsley estate, Martha Stewart and former eBay president Meg Whitman, have been suggested as possible donors, although representatives for most of these women have already denied being the mystery philanthropist.

One thing’s for sure: while all donors may not be as generous, or able, as the mystery donor, there are many philanthropists that prefer to do their giving in private. This is one thing that’s up in a down economy, reported ABC. From June 2008 to April 2009, there were 80 anonymous gifts tracked by the Chronicle of Philanthropy of $1 million or more. That’s nearly 19 percent of the 422 total during that period— up from an average that ranged from 3 to 5 percent over the last decade, ABC reported.

So, is your school on the list of lucky colleges to receive scholarship funds from the mystery donor? And what other clues can we glean from looking closer at these schools?