Tags: US | Harvard | Endowment

Harvard's Endowment Surges 11.3 Percent to $32.7 Billion

Wednesday, 25 Sep 2013 10:35 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

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 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Atheist Sues After New Jersey Rejects License Plate

Friday, 18 Apr 2014 22:31 PM

Shannon Moran, of Maurice River Township has filed a lawsuit against the state Motor Vehicle Commission, saying it viola . . .

South Carolina Mayor Fires Lesbian Police Chief

Friday, 18 Apr 2014 22:20 PM

A South Carolina mayor fired his 20-year veteran chief of police, who is a lesbian, reportedly declaring in a recorded p . . .

Discovery Channel Everest Jump in Doubt After Deadly Avalanche

Friday, 18 Apr 2014 22:12 PM

The Everest Jump Live special that Discovery Channel had planned for May 11 is in question following a deadly avalanch . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

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