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PrincetonUniversity |
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A Princeton Profile 2001-02 |
The Endowment
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Princeton's endowment is the fourth largest in the country, with a value of over $8.2 billion as of March 31, 2001 (Harvard, the University of Texas, and Yale have larger endowments). The endowment is invested in a diversified group of assets including domestic and international stocks and bonds, hedge funds, private equity, venture capital, real estate, and other assets not traded on organized trading markets. Princeton's portfolio has historically experienced solid returns. The total return on Princeton's endowment -- defined as "dividends and interest on portfolio holdings plus or minus capital appreciation or depreciation" -- was equivalent to approximately 15.3 percent per year over the 24-year, 9-month period ending March 31, 2001. Fund-raisingFund-raising from all Princetonians -- undergraduate and graduate alumni, parents, and friends -- is vital to Princeton's mission. Their gifts support tradition as well as innovation and help keep the University at the forefront of higher education. Last year, following the Anniversary Campaign for Princeton, which ended June 30, 2000, the University took a headline-making step forward in its financial aid policies and replaced all undergraduate student loans with scholarships and grants, allowing every need-eligible Princeton student to graduate unburdened by debt. The campaign and subsequent fund-raising efforts also have enabled the University to strengthen its renowned programs of teaching, research, and scholarship and have greatly enhanced the academic, residential, athletic, and social facilities of the Princeton campus. Princeton's current fund-raising efforts continue to build on these strengths, and focus on a set of important objectives set forth by the Board of Trustees in April 2000. Along with recommendations on financial aid, the library, the composition of the faculty and staff, and the use of new technologies, the board voted to increase Princeton's undergraduate student body by 10 percent once housing facilities have been completed. Securing the funding for these new initiatives is essential as the University moves forward into the 21st century. Annual Giving. Each year approximately 10 percent of the University's overall budget for educational and general expenses is raised through Annual Giving. In its 61-year history, Annual Giving has raised more than $520 million for Princeton. In 2000-01, Annual Giving produced a record $36.7 million in unrestricted funds, with 59.4 percent of all undergraduate alumni participating in the effort. Annual Giving owes its success to an extraordinary volunteer effort that reaches out to all Princetonians and friends through phone calls, mail, and personal meetings all over the world. Capital Giving.Capital gifts support specific projects at the University, from professorships and scholarships to buildings and equipment. Current capital priorities include major residential life and campus improvement projects, new and expanded academic initiatives, athletic programs, and fresh endowment to support continuing needs such as faculty positions, book funds, and undergraduate scholarships. Princeton seeks capital support from undergraduate and graduate alumni, corporations, foundations, and other friends of the University. |
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