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Stanford University's endowment rose in value by 14.8 percent over the past year to a value of $21.4 billion as of Aug. 31, 2014, the last day of Stanford's fiscal year. The change in endowment value results from investment gains and losses, endowment gifts and other funds transferred into the endowment, offset by the annual payout for university operations. The university's endowment payout for fiscal year 2014 was $985 million, equal to 5.3 percent of the beginning-of-year endowment value. Budgeted endowment payout for fiscal year 2015 is $1.065 billion, or 5 percent.</p>
<p>"Thanks to the generosity of Stanford's donors and these excellent investment returns, the endowment increased significantly last year," said Randy Livingston, vice president for business affairs and chief financial officer. "This growth will support Stanford’s strategic initiatives, including interdisciplinary research and possible future expansion of the undergraduate student body, while helping to offset reductions in federal research funding."
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