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Cornell experiences 'modest' growth at 14.4 percent

2006 Endowments Up

February 22, 2007 - 2:17am
By Ming Dang

Article body:

The 2006 fiscal year was one of phenomenal growth for both public and private institutions. While Wall Street stole the spotlight with its record-breaking earnings, college endowments also fared very well.

Endowments rose for the vast majority of institutions in the 2006 fiscal year, with an average increase in market value of 10.7 percent.

Out of 765 institutions surveyed in the United States and Canada, only 14 saw their endowments shrink, according to data released by the National Association of College and University Business Officers.

The top three endowments by market value at the end of the 2006 fiscal year were Harvard’s, Yale’s and Stanford’s, coming in at $28.9 billion, $18 billion and $14.1 billion, respectively.