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Harvard Donations Top $1 Billion for Second Straight Year

  • Ivy League school plans to raise $6.5 billion by 2018
  • Fund manager Paulson gave $400 million to engineering school

Donations to Harvard University have topped $1 billion for the second straight year.

The Ivy League school said in an annual report Thursday that it collected $1 billion in gifts in the year ended June 30, after getting $1.2 billion the previous year. The surge in donations, which are up from $792 million in 2013, follows the formal start of a campaign to raise $6.5 billion by 2018 to boost education and research and carry out construction projects across the campus in Cambridge, Massachusetts, and Boston.