Word: endowmentã
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...year ending June 30, the MIT endowment generated an investment loss of 17.1 percent. When combined with the $518 million paid out for operations and the $143 million received in gifts and transfers, the endowment??s total value fell from $10.1 billion to $8 billion...
With gifts and payout, that loss translated to an $11 billion decrease in Harvard’s endowment??an amount greater than the total value of any other school’s endowment except Yale, Princeton, and Stanford. The value of Harvard’s endowment now stands at $26 billion, roughly the same level...
...Fortunately, on the same day that Harvard Management Company publicly reported the university’s endowment losses—the first such loss since 2002 and only the fifth reported loss since 1971—another equally unique event occurred to remind me of the endowment??s true role. That afternoon, hundreds of students, faculty, and staff witnessed a cow grazing in Harvard Yard for the first time in living memory...
...real world, the financial crisis has depleted the value of the endowment, leaving us with less income to fund operations this year and for years to come. So what’s the answer? As I mentioned, one answer is to spend more from the endowment??to thin the herd—so that we can bridge the gap between annual income and annual expenses...
Mendillo said that the Company is now also considering remodeling its portfolio to encourage team collaboration, focus more on internal strengths, and reassess the endowment??s risk and the University’s needs. While overall risk management was “adequate” last year and helped avoid extreme volatility, Mendillo wrote that more is being done now to manage risk and that lessons have been learned, particularly that “the risk tolerance of the University needs to be an integral factor” when determining how the endowment is invested...