ERIC Number: ED333823
Record Type: RIE
Publication Date: 1991
Reference Count: 0
1990 NACUBO Endowment Study.
National Association of College and University Business Officers, Washington, DC.; Cambridge Associates, Inc., Boston, MA.
The 1990 Endowment Study of America's colleges and universities covered a broad variety of endowment issues of concern to trustees and administrators. The survey was mailed to 450 institutions and 369 institutions (82%) responded. Results of the study showed that 367 institutions had endowment assets totaling $60.1 billion. For fiscal year 1990, the equal-weighted mean total return of investment pools was 9.6 percent, lower than 1989. The returns generated by stocks were higher than those of bonds and cash equivalents. However, the largest investment pools reported the best average nominal returns for the year. There were few significant changes in the average pool's allocation of assets among investments. The average endowment spending rate decreased slightly from 1989. For the decade ending June 30, 1990, the median investment pool underperformed the Wilshire 5000 stock index but outperformed broad bond indexes and cash equivalents. The inflation adjusted rate of return for the median investment pool over this 10-year period was 8.7 percent. The bulk of this document is tables and figures illustrating the data organized into two categories: Endowment Characteristics (general characteristics and growth asset allocation); and Investment Pool Characteristics (general characteristics, performance, asset allocation, turnover and fees, managers and custodians). There are also sections of commentary, notes on the data, a glossary, descriptions of market indexes and a user's survey. (JB)
Descriptors: Capital, Educational Finance, Endowment Funds, Higher Education, Income, Investment, Money Management, Private Colleges, Public Colleges
National Association of College and University Business Officers, One Dupont Circle, Suite 500, Washington, D.C. 20036-1178 ($50.00 members, $75.00 non-members).
Publication Type: Numerical/Quantitative Data; Reports - Research
Education Level: N/A
Audience: Administrators; Policymakers; Practitioners
Authoring Institution: National Association of College and University Business Officers, Washington, DC.; Cambridge Associates, Inc., Boston, MA.
Note: Approximately 70 organizations helped to sponsor this study. For the executive summary, see HE 024 671.