Pitt's $2.6 billion endowment in 2012 was 25th largest in the nation, survey finds
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
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Reagan shooter Hinckley closer to permanent freedom
- Monessen man wounded in afternoon shooting
- Cole overcomes rough start as Pirates sweep Brewers
- Steelers won’t be backed into a corner at NFL Draft
- Pirates notebook: GM sticking to plan with Kang
- Crosby’s 2 goals lift Penguins past Rangers, even series
- Service marks 20 years since Oklahoma City bombing
- Sutter steps up for Penguins in series-tying victory
- News Alert
- Man beaten, robbed in South Side, police say
- Coming off hill revives Seton Hill University, downtown Greensburg