Unfortunately, the college I attended caved in to the PC crowd a few years after I graduated. They sent a survey to the student body and to alumni asking whether or not the mascot should be changed to something "less offensive" or some such drivel. As I recall, the results of the survey were over 80% in favor of leaving it alone, but they went ahead and changed it anyway. I told the alumni committee at the time that it should be left alone, but if they just couldn't see their way to that, then maybe they should choose an amoeba or an eel as the school mascot...something without a spine! Never heard anything back from them.
I have not and will not donate anything to the alumni association, and I am glad that both my wife and I graduated under the old mascot.