The school announced their endowment figures last month.
The endowment saw a 6.9% annual return and is now valued at a record-high of $8.6 billion, as of June 30, 2019. This growth comes a year after the endowment posted a 12.9% return in 2018 to grow from $7.9 billion to $8.5 billion.
In the last fiscal year, Duke spent $647 million from the endowment on financial aid, faculty salaries, facilities, athletics and other services. Duke’s endowment contributes to the University’s operating budget.
Can you spend from the endowment freely?
Duke University’s endowment – now valued at over [$8.6] billion – provides around $500 million per year to support university operations. But virtually all of the endowment comes with stipulations and must go to specific purposes spelled out by donors.
While Duke has considerable resources to fulfill its mission, finding unrestricted money to devote to new priorities can be a challenge.
That becomes an issue in lean times, such as the 2008 financial crisis. Before the downturn, Duke had around $800 million in unrestricted funds in its endowment. Between the falling value of investments and the withdrawal of around $250 million of those reserve funds (or its rainy-day fund) to finance university priorities following the crisis, Duke lost or used more than half of the unrestricted money in its endowment.
Read more about Duke’s endowment here.
Post by Marcelino Pantoja