Tags: US | Harvard | Endowment

Harvard's Endowment Surges 11.3 Percent to $32.7 Billion

Wednesday, 25 Sep 2013 10:35 AM

 

Harvard University's endowment earned an 11.3 percent gain on investments in the most recent fiscal year to surge to $32.7 billion.

The endowment for the nation's wealthiest university for the fiscal year that ended June 30, however, remains well below the high-water mark of almost $37 billion reached in 2008 before the financial crisis cost Harvard about $11 billion.

Jane Mendillo, president and CEO of Harvard Management Co., which oversees the Ivy League university's investments, says the endowment beat benchmarks and has recovered well since the recession started.

Distributions from the endowment contributed more than a third of the university's operating budget during the most recent fiscal year.

The endowment also supports financial aid programs that allow the university to admit qualified students regardless of their ability to pay.

© Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

'Potentially Historic' Storm Headed for Northeast

Sunday, 25 Jan 2015 17:20 PM

A potentially historic storm could dump 2 to 3 feet of snow from northern New Jersey to Connecticut starting Monday, c . . .

Airlines Prepare to Shut Down in Northeast for Snowstorm

Sunday, 25 Jan 2015 21:13 PM

Airlines are preparing to shut down operations along the East Coast as a major snowstorm packing up to three feet of sno . . .

2 Planes Evacuated in Seattle, 3rd Flight Diverted to Dallas

Sunday, 25 Jan 2015 21:09 PM

Two planes have been evacuated on arrival at Seattle-Tacoma International Airport because of what a spokesman called a  . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved