The money goes to the Bursar, the headmaster and various reputational pursuits. I know of a school that was asking alumni to donate to buy heart rate monitors f

The money goes to the Bursar, the headmaster and various reputational pursuits. I know of a school that was asking alumni to donate to buy heart rate monitors for their gym, and a portable electronic score board - not because they didn't have an electronic score board already, but so that they could take it to away games.