2007 College Endowments

The National Association of College and University Business Officers (NACUBO) annually releases a list of endowments from universities and colleges across the United States. In 2007 Harvard (34.6 billion), Yale ($22.5 billion), and Stanford ($17.16 billion) maintained their spots on the top of the endowment list.

The University of Virginia maintained its spot at #20 with an endowment of $4.37 billion ($3.6 billion in 2006), and James Madison University moved up to #526 from #548 with an endowment worth $50.79 million ($39 million in 2006).

I blogged about this last February, and I’m glad to see that JMU’s endowment increased 29.8%. Once again, endowments are important because they enable public universities to spend money without having to rely on their state governments to supply funding. Right now JMU has to rely on the state legislature for its financial backing, and there is a great deal of uncertainty involved in this process.

Even though UVA is a public school, it does not have to rely state-money for development projects because it receives a lot of private donations. Correct me if I’m wrong, but the John Paul Jones arena was built entirely from private donations.

Nonetheless, good work JMU. Keep up the good work.

Click here to check out the 2006 rankings.

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