Dylan, 13, went missing Nov. 19 from his father's home in Vallecito, The Durango (Colo.) Herald reported.
Denise Hess, an Ignacio resident and family friend, said the funds started with a "private donation out of Denver" of $10,000.
The rest came from online auctions, donations and fundraisers.
The search for Dylan is ongoing; La Plata County Sheriff's investigators, with help from the FBI and the Colorado Bureau of Investigation, has conducted land searches for the teenager, as well as scanned Vallecito Reservoir.
No solid leads have been found, the news report said.