ERIC Number: ED333822
Record Type: RIE
Publication Date: 1991
Reference Count: 0
1990 NACUBO Endowment Study. Executive Summary.
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 of which this is the executive summary 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 domestic and foreign 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 various investments. The average endowment spending rate was 4.5 percent, a slight decrease from 1989. For the decade ending June 30, 1990, the median investment pool with a return of 13.5 percent underperformed the Wilshire 5000 stock index but outperformed broad bond indexes and cash equivalents. The real, or 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 with a section of commentary and a section of notes on the data. Appendices include a glossary and descriptions of market indexes. (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, DC 20036-1178 ($30.00 members, $20.00 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 full report, see HE 024 672.