<p>
</p>
<p>That’s a good question and I don’t know for sure. I’d imagine that the endowment as defined by NACUBO has a clear and consistent definition that is different from the long term pool of investments. However, certain universities aren’t as transparent in their filings as others, so I wouldn’t find it hard to believe that a few universities are calculating their endowment figures slightly differently. I don’t think the accounting is being validated by Ernst & Young or anyone for that matter. Public universities have to be a bit more transparent if they rely on tax dollars, however.</p>