Assuming the university is a registered non-profit organization, a part of your contribution would be allowed as a deduction for charitable donations on schedule A, see the Deductions and Credits page. Whether you get an actual tax benefit depends on your income and other deductions. Also, you may not be able to deduct the entire contribution. For example, if you received season tickets, you have to subtract the value of the tickets from the contribution. See publication 526 where it discusses contributions from which you benefitted.
https://www.irs.gov/pub/irs-pdf/p526.pdf