University fundraising falls 12 percent in 2009 - DONNA GORDON BLANKINSHIP, The Associated Press

Charitable contributions to colleges and universities plummeted an average 11.9 percent nationwide in 2009, the steepest drop in at least three decades, according to a new report. Individual giving dropped in both dollars and participation numbers. Gifts for endowments and new buildings saw the biggest decreases, according to the Council for Aid to Education, which released its 2009 fiscal report on Wednesday.