The Million Pound Donors Report 2012 found that 57 donors gave a total of £405 million to higher education institutions in 2010-11.

In 2009-10, just 43 donors contributed £299 million to the sector, although this total represented a fall of nearly 50 per cent from the previous year, thought to be caused by the end of a government scheme to match donations.

The universities of Oxford and Cambridge were the only institutions - including those outside higher education - to receive more than five donations of £1 million or more. The report argues that their long histories appeal to donors wishing to establish a project that will last.

As a destination for million pound donations, higher education remains comfortably ahead of other sectors, receiving a third of the money donated.

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In contrast, arts and culture won 8.8 per cent, ahead of international development (8 per cent) and health (3 per cent).

Only charitable foundations received a greater slice of the donations than higher education.

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The "enduring popularity" of universities with donors is partly because they are already multi-million pound institutions capable of handling large sums of money, the report explains.

In the mind of donors, giving to university research or scholarship programmes is akin to supporting a health, international development or welfare cause, it adds.

Universities also have professional fundraising offices and a ready-made network of often wealthy alumni, it says.

Overall, the number of million pound donors across all sectors was 232, up from 174 last year.

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Yet the total given fell to £1.24 billion, almost a third less in real terms than it was in 2006-7.

The report was researched by Beth Breeze, a researcher in the Centre for the Study of Philanthropy, Humanitarianism and Social Justice at the University of Kent.

david.matthews@tsleducation.com