NEW ORLEANS - Tulane University in New Orleans has broken its fundraising record, taking in gifts and commitments that exceeded $126 million during the last school year.

  

The school says more than 20,000 alumni, parents and friends donated during the 2016-17 financial year, the best year for donations in Tulane's 183-year history. The $126 million-plus in new gifts and commitments bested Tulane's five-year average by $20 million.

  

The increased giving comes as Tulane reports that its student applications also have grown.

  

The university says dollars from the fundraising will be invested in faculty and scholarships. They also will support a new on-campus hall that is merging career programming, academic advising and other student services into one building; a new investment in the law school; a business school expansion; and other construction projects.