I have a friend who donated substantial sums to Yale and Columbia, where he attended. The donations were politely received, but they were just another day at the office for the development officers.
One year, he decided to divert his money to Cooper Union. Cooper Union had enabled his father, a waiter at the time, to attend free, which gave him the opportunity for an office job, which resulted in his kids being able to attend selective schools (two kids: one a doctor, the other a lawyer). He says that the same sum that Yale and Columbia accepted, as a matter of course, were enthusiastically received at Cooper Union
I know Cooper Union is not Podunk U, but still . . .