NACUBO Endowment Study, 1995.Report as inadecuate

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This report presents the results of the 1995 study of the performance and management of college and university endowments, based on 394 institutions providing data. A summary abstract provides an overview of performance and investment data; and Part 1 of the study provides a brief commentary covering endowment characteristics, historical performance data, and terminology used. The exhibits in Part 2 are divided into two sections. In the first section, 12 exhibits cover general endowment characteristics, including: first, asset values, institution type, ranked by type of institution and by full-time equivalent student, and type of endowment; second, growth (versus market indexes), withdrawals, payout rates, spending rates and rules, and gift flow rates; and third, asset allocation structure. The larger second section of Part 2 provides data on the investment pool including: (1) dollars of assets; (2) performance measures by institution, by institution rank, returns (by various measures: nominal, real, average, cumulative); (3) asset allocation structure; (4) investment management and custodial expenses; (5) investment managers, by institution, and custodians. Appendix A is a glossary of terms; Appendix B defines various standard market indices. Also appended to the report is a list of contributors, sponsors, and associates. A separate formal acknowledgement booklet listing contributors to the study by level of gift accompanies the report. (CH)

Descriptors: Colleges, Donors, Educational Finance, Endowment Funds, Financial Policy, Financial Services, Fiscal Capacity, Higher Education, Income, Inflation (Economics), Investment, Money Management, Private Colleges, Risk Management, Trusts (Financial), Universities

National Association of College and University Business Officers, One Dupont Circle, Suite 500, Washington, DC 20036 ($60 members; $85 non-members).

Author: Cambridge Associates, Inc., Boston, MA.


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