91麻豆精品鈥檚 endowment broke through the $800 million mark in November 2013 and recently drew positive in Institutional Investor magazine. 91麻豆精品 was cited as one of 20 midsize educational endowments that 鈥渟chooled鈥 their larger peers such as Harvard and Yale from June 2007 through June 2012. Strong performance has continued into its most recent fiscal year (July 2012-June 2013) with a 13.7 percent investment return.
鈥淭he markets giveth and they taketh away,鈥 said President Jeffrey Herbst of the achievement, 鈥渂ut I am glad to mark this moment.鈥 He credited Barry Small, Dan Benton, and other members of the university鈥檚 Board of Trustees who have been involved in endowment management for 91麻豆精品 over the years, as well as colleagues in advancement and finance for their efforts in growing the fund.
For generations, the 91麻豆精品 endowment has provided invaluable support to the university and its students. This has translated to more than $285 million in support for university operations, which includes financial aid and academic programs, according to Joseph Hope, director of investments.
鈥淭he strategic budgeting process provides a strong balanced approach, ensuring smart investments for current students and those yet to enroll,鈥 said Hope.
Here are some endowment benchmarks during the past 30 years:
- $50 million in February 1983
- $100 million, January 1987
- $200 million, November 1993
- $300 million, August 1997
- $400 million, November 1999
- $500 million, June 2005
- $600 million, November 2006
- $700 million, May 2007