TribLIVE

| News


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Pitt's $2.6 billion endowment in 2012 was 25th largest in the nation, survey finds

Daily Photo Galleries

Friday, April 5, 2013, 12:48 p.m.
 

The University of Pittsburgh's $2.6 billion endowment for 2012 was the 25th largest in the nation after posting a change of 3.6 percent in its value, a new survey found.

Harvard's $30.4 billion endowment continued to rank at the top of the list even after its value declined 4.1 percent from 2011, according to the annual survey by the National Association of College and University Business Officers and the Common Fund.

Colleges typically tap a portion of the earnings from their endowments — which consist of gifts from individuals and businesses — each year. The money can be used to underwrite scholarships and operating costs or endow professorial chairs, depending on donor restrictions.

Penn State University's endowment ranked 36th in size with a 3.2 percent gain since 2011, while Carnegie Mellon's endowment fell to $987 million from $1 billion, leaving it in 72nd place.

Subscribe today! Click here for our subscription offers.

 

 
 


Show commenting policy

Most-Read Stories

  1. Big Bang ‘waves’ go poof under analysis
  2. Jerome Bettis to be enshrined in hall of fame
  3. Local products Donald, Gronkowski garner AP NFL awards; Fitzgerald gets 1st Rooney honor
  4. Penguins minor league notebook: Rookie Wilson emerges as 3rd-line NHL prospect
  5. Penguins notebook: Malkin could return Wednesday at Edmonton
  6. Westmoreland museum spotlights artist John Kane’s late-in-life fame
  7. Voters opt for ‘Don’t Know’ in 2016 presidential race, Susquehanna poll finds
  8. Tennessee quarterback Peterman considers transfer to Pitt
  9. Suggestions are aplenty on what Penguins need to break through
  10. Starkey: Pitt needs that James Robinson
  11. No more room on iPad? You’ll need to trim some of that fat