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NACUBO: Endowment Losses Fuel Further Pressure on College Tuitions
At -3.6 percent, college endowments posted their biggest losses since 1984 for the fiscal year ending June 30, 2001, according to the annual endowment survey conducted by the National Association of College & University Business Officers (NACUBO). Fortunately, the decline in investment revenues follows a 13 percent return for FY2000.
Earnings from endowments investment pools are essential to higher education institutions because they provide funds for such expenses as financial aid, faculty salaries, and other operating costs. As a general rule, higher education institutions spend approximately 4.5 percent of the market value of their endowments each year. As the recession deepened last year, alumni & corporate contributions also declined for many schools.
The full Endowment Survey will be available for purchase later this month from NACUBO. The preliminary press release is available at: http://www.nacubo.org/