Yale University - probably the law school's biggest individual benefactor, he was recognised as a $1 million giver by 1987 and had continued contributions until his death.

Financially, until the Greek War of Independence (1821-1830), the school was supported by individual benefactors, who either offered money directly to the school or sponsored scholarships for student.

Greenberg said it had already raised $7 million, mostly from law firms on its board and individual benefactors.

Interestingly, some of these schools are funded by specific businesses, corporations, or individual benefactors that espouse particular ideals or goals for the education of children and youth.

To date, Ramsey is the largest individual benefactor of the University of Georgia.

"Without the money of individual benefactors, they would have closed 20 years previously," Mr. Bruhl said.

In December, the Christian A. Johnson Endeavor Foundation gave the school a $250,000 challenge grant, and since then corporate and individual benefactors have come up with another $450,000.

Brookwood survived the 1928 crisis largely due to the generosity of its individual benefactors and through downsizing.

He gave Duke nearly $40 million and was one of the university's largest individual benefactors.

But it seems clear that corporations and individual benefactors are reluctant to pony up the half-billion dollars needed for an effort with so many unanswered questions attached to it.