Falling Fortunes

FALLING FORTUNES

Endowments of colleges and universities returned to earth in the 2001 fiscal year, following a lengthy period in which above-average gains pushed their wealth steadily higher. The Chronicle surveyed the 25 institutions with the largest endowments in 2000, as ranked by the National Association of College and University Business Officers. It also gathered data from 25 other institutions with endowments of varying sizes. In selecting that group,

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