2010 Fiscal Year College Endowment per Student*

College Search & Selection
1

<p>Endowment/Student -- College -- Endowment ($ Thous.) -- Enrollment
$1,895,607 -- Princeton -- $14,391,450 -- 7,592
$1,436,384 -- Yale -- $16,652,000 -- 11,593
$1,419,680 -- Harvard -- $27,557,404 -- 19,411
$941,274 -- Pomona -- $1,458,974 -- 1,550
$819,183 -- Swarthmore -- $1,249,254 -- 1,525
$800,975 -- MIT -- $8,317,321 -- 10,384
$794,579 -- Amherst -- $1,385,745 -- 1,744
$749,309 -- Grinnell -- $1,264,834 -- 1,688
$748,952 -- Stanford -- $13,854,115 -- 18,498
$725,554 -- Caltech -- $1,545,429 -- 2,130
$719,063 -- Williams -- $1,526,571 -- 2,123
$668,647 -- Rice -- $3,786,548 -- 5,663
$562,305 -- Wellesley -- $1,306,796 -- 2,324
$500,802 -- Dartmouth -- $2,998,302 -- 5,987
$468,259 -- Washington & Lee -- $1,008,161 -- 2,153
$459,684 -- Richmond -- $1,614,871 -- 3,513
$457,188 -- U of Chicago -- $5,638,040 -- 12,332
$443,030 -- Notre Dame -- $5,234,841 -- 11,816
$424,043 -- Bowdoin -- $753,525 -- 1,777
$398,450 -- Smith -- $1,243,561 -- 3,121
$377,079 -- Claremont McKenna -- $466,447 -- 1,237
$363,052 -- Emory -- $4,694,260 -- 12,930
$336,137 -- Duke -- $4,823,572 -- 14,350
$329,516 -- Wash. U.St. Louis -- $4,473,180 -- 13,575
$323,927 -- Byrn Mawr -- $573,674 -- 1,771
$315,667 -- Northwestern -- $5,945,277 -- 18,834
$315,562 -- Middlebury -- $783,225 -- 2,482
$298,739 -- Haverford -- $355,500 -- 1,190
$293,878 -- Macalester -- $586,581 -- 1,996
$293,713 -- Hamilton -- $552,768 -- 1,882
$293,560 -- U of Penn -- $5,668,937 -- 19,311
$285,158 -- Vassar -- $699,492 -- 2,453
$280,457 -- Carleton -- $563,439 -- 2,009
$275,561 -- Texas -- $14,052,220 -- 50,995
$275,369 -- Harvey Mudd -- $208,454 -- 757
$273,164 -- Colby -- $502,076 -- 1,838
$268,944 -- Columbia -- $6,516,512 -- 24,230
$257,375 -- Scripps -- $237,300 -- 922
$251,380 -- Brown -- $2,155,330 -- 8,574
$245,425 -- Davidson -- $427,775 -- 1,743
$243,403 -- Vanderbilt -- $3,044,000 -- 12,506
$241,372 -- Lafayette -- $580,740 -- 2,406
$226,166 -- Colorado College -- $459,570 -- 2,032
$225,647 -- Mount Holyoke -- $519,891 -- 2,304
$220,999 -- Whitman -- $334,814 -- 1,515
$216,554 -- Colgate -- $614,363 -- 2,837
$212,213 -- Cornell -- $4,378,587 -- 20,633
$211,752 -- Oberlin -- $618,104 -- 2,919
$178,204 -- Holy Cross -- $522,494 -- 2,932
$176,596 -- Sewanee U of South -- $272,487 -- 1,543
$168,111 -- Furman -- $498,282 -- 2,964
$165,007 -- Yeshiva -- $1,027,662 -- 6,228
$160,412 -- Virginia -- $3,906,823 -- 24,355
$160,231 -- Wesleyan -- $504,406 -- 3,148
$157,512 -- Michigan -- $6,564,144 -- 41,674
$150,272 -- Occidental -- $298,891 -- 1,989
$150,136 -- Case Western -- $1,462,027 -- 9,738
$149,829 -- Rhodes -- $252,462 -- 1,685
$143,794 -- Centre College -- $174,854 -- 1,216
$141,908 -- Trinity -- $356,756 -- 2,514
$137,117 -- Univ. of Rochester -- $1,367,878 -- 9,976
$134,424 -- Lehigh -- $940,430 -- 6,996
$133,813 -- Bucknell -- $491,495 -- 3,673
$132,454 -- Wake Forest -- $937,639 -- 7,079
$132,426 -- Union -- $290,543 -- 2,194
$122,230 -- Franklin & Marshall -- $266,339 -- 2,179
$118,375 -- Tufts -- $1,213,585 -- 10,252
$117,000 -- Dickinson -- $277,993 -- 2,376
$114,239 -- Bates -- $198,548 -- 1,738
$110,790 -- Brandeis -- $620,204 -- 5,598
$108,379 -- Johns Hopkins -- $2,219,925 -- 20,483
$104,713 -- Boston College -- $1,479,700 -- 14,131
$99,384 -- Skidmore -- $271,019 -- 2,727
$97,215 -- Kenyon -- $158,752 -- 1,633
$93,799 -- Connecticut College -- $179,250 -- 1,911
$90,646 -- Pitzer -- $94,544 -- 1,043
$84,654 -- USC -- $2,947,978 -- 34,824
$82,605 -- Gettysburg -- $207,835 -- 2,516
$82,253 -- RPI -- $629,728 -- 7,656
$77,290 -- Barnard -- $186,810 -- 2,417
$71,231 -- Carnegie Mellon -- $815,099 -- 11,443
$68,523 -- William and Mary -- $539,547 -- 7,874
$68,447 -- Univ. North Carolina -- $1,979,222 -- 28,916
$61,431 -- Georgetown -- $1,009,736 -- 16,437
$54,603 -- NYU -- $2,370,000 -- 43,404
$51,789 -- Georgia Tech -- $1,050,842 -- 20,291
$43,471 -- Univ. of Washington -- $1,829,868 -- 42,094
$39,557 -- Miami -- $618,236 -- 15,629
$36,851 -- Wisconsin -- $1,551,384 -- 42,099
$30,276 -- Penn State -- $1,368,031 -- 45,185
$29,395 -- Illinois -- $1,289,871 -- 43,881
$24,904 -- UCLA -- $995,754 -- 39,984
$23,842 -- UC Berkeley -- $854,569 -- 35,843
$11,413 -- UCSD -- $315,376 -- 27,634
$9,046 -- UC Irvine -- $245,529 -- 27,142
$5,203 -- UC Davis -- $162,569 -- 31,247
N/A -- UCSB -- N/A -- 22,850
N/A -- US Army -- N/A -- 4,621
N/A -- US Navy -- N/A -- 4,552
N/A -- Bard -- N/A -- 2,234</p>

<p>*Note:
1. From UNSWR top 50 Research Universities and top 50 Liberal Arts Colleges.
2. Source of College Endowments: <a href="http://www.nacubo.org/Documents/research/2010NCSE_Public_Tables_Endowment_Market_Values_Final.pdf%5B/url%5D"&gt;http://www.nacubo.org/Documents/research/2010NCSE_Public_Tables_Endowment_Market_Values_Final.pdf&lt;/a>
3. Source of total college enrollments: USNWR</p>

2

<p>UT’s endowment is for the entire UT system, not just for the UT-Austin campus. Admittedly, a large chunk of the UT system endowment is dedicated to the Austin campus (roughly 40% I think), but the system includes 8 other academic campuses with over 100,000 undergrads and half a dozen medical/health institutions, all of which claim the remaining 60% of the UT endowment. </p>

<p>Otherwise, this looks good. Michigan and UVa are now both among the top 20 research universities in terms of endowment/student. UT-Austin is not far behind, and they have no medical school to support, so their endowment goes a lot further. Given the fact that those public flagships receive hundreds of millions in state funding annually, their endowments are worth significantly more than private universities with similar endowments/student. At this point, I would say that among research universities only HYPSM, Caltech, Rice, Dartmouth, Chicago and Notre Dame are better off on a per/student basis.</p>

3

<p>The percentage difference of the next school down the list:</p>

<p>$1,895,607 Princeton
$1,436,384 24.23% Yale
$1,419,680 1.16% Harvard
$941,274 33.70% Pomona
$819,183 12.97% Swarthmore
$800,975 2.22% MIT
$794,579 0.80% Amherst
$749,309 5.70% Grinnell
$748,952 0.05% Stanford
$725,554 3.12% Caltech
$719,063 0.89% Williams
$668,647 7.01% Rice
$562,305 15.90% Wellesley
$500,802 10.94% Dartmouth
$468,259 6.50% Washington & Lee
$459,684 1.83% Richmond
$457,188 0.54% U of Chicago
$443,030 3.10% Notre Dame
$424,043 4.29% Bowdoin
$398,450 6.04% Smith
$377,079 5.36% Claremont McKenna
$363,052 3.72% Emory
$336,137 7.41% Duke
$329,516 1.97% Wash. U.St. Louis
$323,927 1.70% Byrn Mawr
$315,667 2.55% Northwestern
$315,562 0.03% Middlebury
$298,739 5.33% Haverford
$293,878 1.63% Macalester
$293,713 0.06% Hamilton
$293,560 0.05% U of Penn
$285,158 2.86% Vassar
$280,457 1.65% Carleton
$275,561 1.75% Texas
$275,369 0.07% Harvey Mudd
$273,164 0.80% Colby
$268,944 1.54% Columbia
$257,375 4.30% Scripps
$251,380 2.33% Brown
$245,425 2.37% Davidson
$243,403 0.82% Vanderbilt
$241,372 0.83% Lafayette
$226,166 6.30% Colorado College
$225,647 0.23% Mount Holyoke
$220,999 2.06% Whitman
$216,554 2.01% Colgate
$212,213 2.00% Cornell
$211,752 0.22% Oberlin
$178,204 15.84% Holy Cross
$176,596 0.90% Sewanee U of South</p>

4

<p>As usual the details may vary. Wisconsin has three major endowments two of which report to NACUBO. You reported just one. The others are the UW System of which UW Madison owns about 90%. The third and much larger one is the Wisconsin Alumni Research Foundation which has approximately $2 Billion. It receives and invests all the patent and licensing income based on UW research which has been significant over the years. The grand total is in the neighborhood of $3.5-4.0 Billion. Not huge but significant.</p>

<p>[Wisconsin</a> Alumni Research Foundation - Wikipedia, the free encyclopedia](<a href=“http://en.wikipedia.org/wiki/Wisconsin_Alumni_Research_Foundation]Wisconsin”>Wisconsin Alumni Research Foundation - Wikipedia)</p>

5

<p>How much of the endowment goes towards the student? A lot of schools are farther down on the list (and in “rankings”) because they don’t hoard money for endowments, but spend on the students as it comes in.</p>

<p>The richest college ≠ the best college, by any means.</p>

6

<p>

This is a patently false statement considering you don’t include schools like Duke, Emory, Wash U and Northwestern which have double the endowment per student of both UVA and Michigan. Considering the economic downturn which depleted the financial assets of private institutions seems to behind us, you can expect that many private schools will bounce back quite nicely and the difference between these schools and the top publics will be exacerbated once again. Duke’s endowment, for instance, is already up over a $1 billion compared to these end 2010 FY figures.</p>

7

<p>Not really LDB. UVa and Michigan are roughly as wealthy as Duke, Emory, Northwestern and WUSTLon a per student basis when you factor in state appropriations. Amazing ins’t it? Michigan receives $320 million from the state annually. Universities spend 5% of their endowment annually. It would take roughly $6.4 billion of endowment to generate $320 million annually. Add that $6.4 billion to Michigan’s $6.6 billion endowment and you have an endowment of $13 billion. Divided by 41,000 students, you get $315,000/student, which is roughly equal to Duke, Emory, NU and WUSTL. UVa is in the same ball park. </p>

<p>I suggest you inform yourself before demonstrating how ignorant you are.</p>

<p>“Considering the economic downturn which depleted the financial assets of private institutions seems to behind us, you can expect that many private schools will bounce back quite nicely and the difference between these schools and the top publics will be exacerbated once again. Duke’s endowment, for instance, is already up over a $1 billion compared to these end 2010 FY figures.”</p>

<p>Maybe you should check which university has experienced the largest growth in endowment over the last 20 years. I will give you a hint, it is a public university.</p>

8

<p>

You forgot to include the General UC Regents endowment which is $5,441,225 in 2010.</p>

<p>No campus data breakdown is published by UC yet, but in 2009, Berkeley’s portion of that endowment was 32% ($1,559,033/$4,937,483):
<a href=“http://www.ucop.edu/treasurer/foundation/foundation.pdf[/url]”>http://www.ucop.edu/treasurer/foundation/foundation.pdf&lt;/a&gt;&lt;/p&gt;

<p>Applying same percentage in 2010, gives Berkeley $1,741,192 out of the UC Regents fund, plus the separate Berkeley Foundation fund of $854,569 = $2,595,761.</p>

<p>Endowment per student is then $72,420. </p>

<p>As noted in previous posts, this does not include annual appropriations from the state.</p>

9

<p>UCB, I would add that Cal, like UT-Austin, has no medical school. That makes its endowment all the more potent since medical schools have a way of draining endowments.</p>

10

<p>^ Very true, Alex…for apples to apples, add UCSF, Berkeley’s defacto medical school…UT-Austin’s defacto medical school is the Houston Health Science campus. :)</p>

11

<p>It makes absolutely no sense to calculate endowment per capita. Much of the endowment is tied to a specific division within the university, and much of it is tied up for specific purposes, the assets of which may or may not become liquid in a given year. (Not to mention those purposes are often things the student will never experience, e.g. staff within a random unit, graduate-only programs, etc.) The universities vary by what % of their endowments they spend each year. Even then, the university may get sufficient revenue elsewhere (e.g. donations, outside grants, state funding) to spend less of the endowment, which makes it even more unclear. As someone mentioned, some hoard more than others as well (we all know Harvard could have all its undergrads go for free with plenty left over to cover the budget, and it would still have a rapidly growing endowment). If you wanted to see what kinds of resources they give students, you could look at budgets and see what portion ends up going toward students; this would make more sense especially because much of what is devoted to undergraduates often does not come from the endowment but from donors, or the state, etc. </p>

<p>Even with the current budget crisis in California, a given UC will have an “implicit endowment” much higher, if you assume that state funding represents 5% of an “imaginary” endowment (yes, it subsidizes tuition, so the school is getting less student income from the students themselves, but with the extensive financial aid policies these days, this doesn’t matter much). This goes for any public school that receives significant funding from the state. </p>

<p>But even looking at budgets would portray those undergoing student funding expansion more positively than those who already have gone through that expansion and have reached an equilibrium (e.g. don’t need to build more undergraduate housing).</p>

<p>On the whole, it really is completely pointless to calculate endowment-per-student this way.</p>

12

<p>

Out of curiosity, can you provide a source for the 5% figure? I’ve never heard that term before. Also, where’s the proof that Michigan or any other state school spends all the money they receive from the state annually instead of investing it in financial assets? It’s tough to gauge the financial security and stability of state universities since they receive cash inflows from numerous sources and their money is tied up in the hands of so many independent organizations that it would seem almost impossible to me that UT Austin or Michigan can effectively streamline their financial resources to target their undergraduates specifically like a private school such as Emory or Northwestern can.</p>

<p>All these state schools have a lot more faculty members that they have to pay and a lot more facilities to maintain with their money. Private schools such as Duke or Emory don’t have nearly the capital expenditures that public schools like Michigan and Berkeley do.</p>

<p>

A lot of this school’s endowment goes toward funding its large graduate programs that accomodate approximately 15,000 postgraduates as well as its undergraduate population of about 26,000.</p>

<p>The private school that has experienced the largest growth in endowment over the last 20 years only has 7,000 postgraduates and about 6,500 undergrads to take care of. It also has no School of Art & Design, School of Music, School of Theater & Dance, Dentistry School, School of Architecture and Design, Pharmacy School, School of Kinesiology, etc. etc etc. to fund either.</p>

<p>It’s pretty clear which has better financial solvency to service the needs of its undergraduates.</p>

13

<p>

Note the link to the UC Endowment report I sent, <a href=“http://www.ucop.edu/treasurer/foundation/foundation.pdf[/url]”>http://www.ucop.edu/treasurer/foundation/foundation.pdf&lt;/a&gt;

Other UCs are slightly different, but all around 5%. I believe this is standard for other universities as well.</p>

<p>

Uh huh…and that’s why UC manages numerous funds in addition to the Endowment funds:
[University</a> of California Treasurer of The Regents](<a href=“http://www.ucop.edu/treasurer/]University”>http://www.ucop.edu/treasurer/)

</p>

14

<p>Never mentioned because it is a Master’s University, is Trinity University in San Antonio.</p>

<p>Endowment of ~854 million, ~24500 UG, hefty $358,000+ per student</p>

<p>Wonderful school!</p>

15

<p>5% spend rate on endowment is pretty standard. Some a little higher or some lower but it’s a good baseline number.</p>

16

<p>Major Research Universities </p>

<p>1 – Caltech
2 – Yale
3 – Harvard
4 – Wash. U.St. Louis
4 – Johns Hopkins
6 – MIT
7 – Wake Forest
8 – U of Chicago
8 – U of Penn
10 – Stanford
11 – Columbia
12 – Princeton
12 – Duke
12 – Northwestern
15 – Dartmouth
16 – Vanderbilt
18 – Cornell
19 – Emory
19 – Yeshiva
21 – Univ. of Rochester
22 – Rice
23 – UCLA
24 – Miami
25 – Carnegie Mellon
25 – UCSD
27 – Brown
27 – Case Western
30 – Univ. North Carolina
30 – Univ. of Washington
32 – Tufts
32 – UC Davis
35 – Georgetown
36 – Notre Dame
36 – Michigan
36 – USC
36 – NYU
43 – UC Berkeley
44 – RPI
46 – UC Irvine
49 – Brandeis
52 – Lehigh
52 – Georgia Tech
52 – Wisconsin
59 – Illinois
64 – Virginia
64 – Penn State
69 – Boston College
78 – UCSB
82 – Texas
85 – William and Mary</p>

<p>=========</p>

<p>*Note: Obtained from the 50 overall ranked USNWR Research Universities</p>

<p>Financial Resources = Expenditures per student.
Financial resources are measured by the average spending per full-time-equivalent student on instruction, research, public service, academic support, student services, institutional support, and operations and maintenance (for public institutions only) during the 2008 and 2009 fiscal years. The number of full-time-equivalent students is equal to the number of full-time students plus one third of the number of part-time students. (Note: This includes both undergraduate and graduate students.)</p>

<p>We first scaled the public service and research values by the percentage of full-time-equivalent undergraduate students attending the school. Next, we added in total instruction, academic support, student services, institutional support, and operations and maintenance (for public institutions only) and then divided by the number of full-time-equivalent students. After calculating this value, we applied a logarithmic transformation to the spending per full-time-equivalent student, prior to standardizing the value. This calculation process was done for all schools. If a school submits fewer than two years of expenditures per student, then the average is based on the one year that is submitted. Higher expenditures per student score better in the ranking model than lower expenditures per student.</p>

17

<p>Too late to edit, but I meant enrollment of 2450!</p>

18

<p>National Liberal Arts Colleges</p>

<p>1 – US Army
2 – US Navy
3 – Williams
3 – Middlebury
5 – Wellesley
6 – Pomona
6 – Swarthmore
8 – Amherst
9 – Vassar
10 – Bowdoin
10 – Haverford
13 – Harvey Mudd
14 – Claremont McKenna
14 – Scripps
17 – Richmond
17 – Smith
19 – Washington & Lee
19 – Byrn Mawr
19 – Hamilton
19 – Bard
23 – Grinnell
24 – Carleton
24 – Wesleyan
26 – Colorado College
26 – Colgate
26 – Trinity
29 – Colby
29 – Davidson
29 – Lafayette
29 – Mount Holyoke
29 – Oberlin
29 – Franklin & Marshall
37 – Connecticut College
37 – Pitzer
40 – Macalester
40 – Sewanee U of South
40 – Bates
40 – Kenyon
46 – Bucknell
46 – Skidmore
48 – Holy Cross
48 – Occidental
48 – Union
52 – Furman
52 – Barnard
57 – Dickinson
57 – Gettysburg
61 – Whitman
68 – Centre College
75 – Rhodes</p>

<p>=========</p>

<p>*Note: Obtained from the 50 overall ranked USNWR National Liberal Arts Colleges</p>

<p>Financial Resources = Expenditures per student.
Financial resources are measured by the average spending per full-time-equivalent student on instruction, research, public service, academic support, student services, institutional support, and operations and maintenance (for public institutions only) during the 2008 and 2009 fiscal years. The number of full-time-equivalent students is equal to the number of full-time students plus one third of the number of part-time students. (Note: This includes both undergraduate and graduate students.)</p>

<p>We first scaled the public service and research values by the percentage of full-time-equivalent undergraduate students attending the school. Next, we added in total instruction, academic support, student services, institutional support, and operations and maintenance (for public institutions only) and then divided by the number of full-time-equivalent students. After calculating this value, we applied a logarithmic transformation to the spending per full-time-equivalent student, prior to standardizing the value. This calculation process was done for all schools. If a school submits fewer than two years of expenditures per student, then the average is based on the one year that is submitted. Higher expenditures per student score better in the ranking model than lower expenditures per student.</p>

19

<p>USNWR’s Financial Resources rating is flawed. They do not separate graduate research from the expenditures. This gives preference to universities with medical schools. Take UCLA and Cal…Cal has a bigger endowment and fewer students. The only difference is UCLA’s medical school expenditures are included.</p>

20

<p>The metric also rewards wasteful spending.</p>