Word: payouts
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...fiscal 2001, the spending rate was only 3.34 percent. The University has not met its payout goal since 1995, and has not exceeded it since 1983, prompting concern from its schools that they are being denied funds...
...According to data collected by the National Association of College and University Business Officers (NACUBO), the average university endowment payout rate was 4.2 percent in fiscal 1999—a year in which Harvard’s rate was 3.32 percent...
...study also determined that 72 percent of universities use a rigid formula to determine endowment distribution. But Harvard’s system allows for much more discretion, which can result in a lower endowment payout...
...fiscal 2002, endowment payout will increase by 21 percent, but even then the spending rate will likely not approach the 4.5 to 5 percent target. Indeed, a nearly 30 percent increase in the distribution amount in fiscal year 2000 still left the spending rate below 4 percent...
...recent explosive growth of the endowment controlled by FAS has made it more dependent on this source of income. While endowment payout accounted for only 25 percent of FAS revenue in fiscal 1990, it made up 39 percent in 2000. In the same time period, student payments declined from 35 to 28 percent...