Previous 6 Colleges Win Awards for Balancing Faculty Work-Life Issues |
Next U. of California Regents to Consider 32% Increase in Tuition |
September 10, 2009, 08:01 PM ET
3 Ivy Endowments: Down, Down, Down
In statements issued today, three of the nation's wealthiest universities -- Harvard, Yale, and Brown -- all reported endowment losses of more than 20 percent for the fiscal year that ended June 30. The Harvard Management Company said in a report that Harvard's endowment fell by 27.3 percent for the year, although its annualized return on investment for the past five years was still on the plus side, at 6.2 percent. Brown, in a news release, said the investment return for its endowment had declined by 23.1 percent, but it too reported positive annualized returns for the past five years, at 5.2 percent.
Yale has not released final figures for 2008-9 yet, but in a budget update for the current fiscal year, its president and provost said that the endowment value would be about $16-billion, or $1-billion less than previous projections, and warned that further budget cuts would therefore be necessary.
The Ticker is The Chronicle's breaking-news blog, with frequent updates from editors and reporters who scour the world for higher-education news.
Comments
1. bodee - September 15, 2009 at 03:01 am
<Comment removed by moderator>
Add Your Comment
Commenting is closed.