Last modified: Monday, February 17, 2003
Indiana University's endowment jumps to ninth in the nation
EDITORS: Damon Manetta, external affairs and media relations officer for the National Association of College and University Business Officers, is available at 202-861-2593.
BLOOMINGTON, Ind. -- Indiana University's endowment is the ninth largest in the nation among public universities, up from 14th one year ago.
The endowment, managed by the Indiana University Foundation, grew 3.6 percent over a period when the average higher education endowment at a public institution declined 6.4 percent. During the same period, the Standard & Poor's Index declined 18 percent.
The rankings appear in an annual study conducted by the National Association of College and University Business Officers (NACUBO) in partnership with TIAA-CREF, a financial services organization for educators. The ranking of the 654 participating institutions for the 2002 fiscal year is published on NACUBO's Web site, http://www.nacubo.org.
"IU's endowment grows in two ways," said Curt Simic, president of the IU Foundation, which oversees the investment strategy for IU's endowment. "Donors continue to make gifts to the endowment, and the endowment earns investment returns. With the downturn in the economy, the returns have not been positive, but donors are supporting IU in record numbers and their gifts are more than offsetting the market losses."
IU had a record 100,795 donors in 2002. The market value of the endowment increased from $922 million in fiscal 2001 to $955 million in fiscal 2002.
"On top of that," said Simic, "we are happy to report that giving and the number of donors in the first six months of this fiscal year are both up over the same period last year."
In spite of the economy, from July 1 through Dec. 31, 2002, IU had 1,466 more donors and $12.4 million more in gifts than July through December 2001.
Top 15 Public University Endowments
Market Value of Endowment Assets (as of June 30, 2002, in thousands):
1. University of Texas System, $8,630,679
2. University of California, $4,199,067
3. The Texas A&M University System and Foundations, $3,743,442
4. University of Michigan, $3,375,689
5. University of Minnesota and Foundation, $1,320,078
6. University of Washington, $1,111,726
7. Purdue University, $1,098,939
8. University of North Carolina Chapel Hill and Foundations, $1,070,772
9. Indiana University and Foundation, $955,991
10. University of Wisconsin and Foundation, $932,996
11. University of Cincinnati, $894,031
12. Pennsylvania State University, $891,190
13. University of Illinois and Foundation, $881,949
14. University of Delaware, $868,225
15. University of Toronto, $790,661