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I think to be successful with this strategy you have to start earlier, say 4 or 5 years before your kid applies. Donate a few grand the first time to some special fund and then gradually up your donations. Go to the various events, make yourself known and then around application time make the appropriate phone calls. I think 100 grand might be good enough.
Course they'd want you to keep going for awhile too, but once the kid is in, that's optional.
Speedos plan has merit - you need to donate as a dedicated alumni for as many years as possible prior to application time...also, join a committee, board, alumni organization, etc. this is just as important as the dollar amount...however, the dollar amount should be six figures to get noticed and have any type of impact on admissions.
I remember reading an article about this and the then-president of Harvard said "If it's less than 10 million, it doesn't even show up on my radar." Just a thought...