UConn Endowment Tops $310M; How Does it Stack Up Against Yale and Harvard?

Posted by jcashman

STORRS, Conn. (AP) — The University of Connecticut’s endowment earned a profit of nearly $25 million during the last fiscal year, growing to more than $310 million.

UConn officials say its endowment was nearly $313 million at the end of the budget year on June 30, up from about $288 million last year. It’s the fourth highest in Connecticut behind those of Yale, Wesleyan and Trinity College.

UConn President Susan Herbst says her long-term goal is to see the school’s endowment exceed $1 billion, a threshold reached so far by only 60 of about 850 colleges and universities in the U.S. and Canada.

Endowments serve as last-ditch emergency accounts for universities and other entities. They generally use some or all of the investment interest for specific projects or regular expenses while leaving the principal untouched.

Yale University says its endowment earned about 22 percent return on its investments for the last budget year, bringing it to $19.4 billion and securing its place as the second largest among universities nationwide.

Yale officials said that its 20-year return was 14.2 percent, growing from $2.6 billion to $19.4 billion during that time.

It is second only to Harvard’s $32 billion endowment, which earned an average annual return of 12.9 percent over the past 20 years.

Copyright 2011 The Associated Press.

Short URL: http://www.newenglandpost.com/?p=4751

Posted by jcashman on Sep 29 2011. Filed under Featured - For home page featured article, General. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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