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.

 

 
 


Show commenting policy

Most-Read Stories

  1. Predators winger Neal caught ‘blindsided’ by trade from Penguins
  2. Primanti Bros. to mail sandwiches nationwide
  3. Rossi: Middling Steelers must make a statement
  4. Steelers free safety Mitchell is still settling into role on defense
  5. Missing Southwest Greensburg man found dead at crash site in Bell
  6. Nationwide drug ring was centered in Homewood, prosecutor says
  7. Federal grand jury reviewing Liquor Control Board violations, sources tell Trib
  8. Red Wings rally, shock Penguins in overtime
  9. Report linking field surface to cancer elicits Mt. Lebanon protest
  10. Steelers’ Adams delivers in pinch against Texans
  11. Man shot, killed after leaving Elliott bar early Friday
Subscribe today! Click here for our subscription offers.