Harvard, with $28.9 billion, Leads U.S. Endowment Club; Top 20 are ...
The
average U.S. schools' endowment funds posted a 10.7% return on investment
during the year, according to the survey of 765 schools by the National
Association of College and University Business Officers (NACUBO). By
comparison, the S&P 500 gained 13.5% in 2006.
Harvard's $28 billion endowment tops the US rankings by market value, followed by Yale at $18 billion. Harvard's endowment grew 13.5% last year, including both market returns and gifts.
- Of the 62 schools with billion-dollar-plus endowments, Tufts University's fund increased the most, by 43.8% to more than $1.2 billion.
- Last year gifts accounted for about 20% of the increase in the size of the average endowment fund.
- The majority of the average school's endowment (78%) was in equities and fixed-income securities.
- Over the past decade, the portion of investments in asset classes other than equities and fixed income (mostly private equity, hedge funds, real estate funds) has more than tripled, from 5.4% to 17.3% of investment portfolios
The Ivies dominate the top of the list with 5 of the richest 11 schools: Princeton (5t with $13B); Columbia (7th with $5.9B) and Penn (11th with $5.3B).
Other top schools included Stanford (3rd with $14.1 billion), Texas (4th with $13.2 billion) and MIT (6th with $8.4 billion).
|
Top 20 U.S. Endowments by Market Value - 2006 |
||
|
Institution |
State |
2006 Endowment Funds ($000) |
|
1 Harvard University |
MA |
28,915,706 |
|
2 Yale University |
CT |
18,030,600 |
|
3 Stanford University |
CA |
14,084,676 |
|
4 University of Texas System |
TX |
13,234,848 |
|
5 Princeton University |
NJ |
13,044,900 |
|
6 Massachusetts Institute of Technology |
MA |
8,368,066 |
|
7 Columbia University |
NY |
5,937,814 |
|
8 University of California |
CA |
5,733,621 |
|
9 University of Michigan |
MI |
5,652,262 |
|
10 The Texas A&M University System and Foundations |
TX |
5,642,978 |
|
11 University of Pennsylvania |
PA |
5,313,268 |
|
12 Northwestern University |
IL |
5,140,668 |
|
13 Emory University |
GA |
4,870,019 |
|
14 University of Chicago |
IL |
4,867,003 |
|
15 Washington University |
MO |
4,684,737 |
|
16 Duke University |
NC |
4,497,718 |
|
17 University of Notre Dame |
IN |
4,436,624 |
|
18 Cornell University |
NY |
4,321,199 |
|
19 Rice University |
TX |
3,986,664 |
|
20 University of Virginia |
VA |
3,618,172 |
| Source: National Association of College and University Business Officers (NACUBO) | ||
The complete 2006 study is available for download at www.nacubo.org.
