PrincetonUniversityA Princeton Profile, 1999-2000 [<] [ ? ] [>]
Finances
Operating Budget
1998-99
$576,558,000
1999-2000 (projected)
$614,621,000
The total operating budget for 1998-99 includes funding for sponsored research at the Princeton Plasma Physics Laboratory (PPPL), which totals $50 million. PPPL operates on a federal fiscal year that ends September 30, 1999. The amount is significantly lower in recent years because of reductions in Federal Government support for the national fusion energy sciences program.
Income and Expenditures, 1998-99Income (in thousands)
(excluding Plasma Physics Laboratory)
Gifts
32%
($176,146)
Sponsored research
27%
($149,796)
Investment income
16%
($85,485)
Student fees
13%
($69,108)
Auxiliary activities
and service income12%
($63,818)
Expenditures (in thousands)
Academic departments
40%
($217,595)
Physical facilities
24%
($127,138)
Student Aid
12%
($67,651)
Administration, services, and other
12%
($66,839)
Library and Computing Services
10%
($54,097)
Athletics
2%
($10,888)
The EndowmentPrinceton's endowment is the fourth largest in the country, with a value of over $6 billion as of June 30, 1999 (Harvard, the University of Texas, and Yale have larger endowments).The endowment is invested primarily in stocks and bonds but also includes real estate, venture capital, energy resources, and other assets not traded on organized trading markets.
Princeton's portfolio has historically experienced solid returns. The total return on Princeton's endowmentdefined as "dividends and interest on portfolio holdings plus or minus capital appreciation or depreciation"was equivalent to approximately 15.9 percent per year over the 20-year period ending June 30, 1999.
Fund-raisingFund-raising from all Princetoniansundergraduate and graduate alumni, parents, and friendsis vital to Princeton's mission. Their gifts make continued academic leadership and innovation possible. As part of Princeton's 250th anniversary activities, the University launched the Anniversary Campaign for Princeton: a five-year effort, culminating in the year 2000, to raise $900 million in Annual Giving and capital funds. At the end of the fourth year of the campaign, a total of $830 million in gifts and pledges had been raised.
Graduate School Fund for the Centennial. In December 2000, Princeton will mark the 100th anniversary of the founding of the Graduate School. In commemoration of this milestone and as an integral part of the Anniversary Campaign, the Fund for the Centennial has been organized to address the needs of the Graduate School for increased support for fellowships and dissertations, recruitment and placement programs, interdisciplinary initiatives, and renovation of the landmark Graduate College. Through both Annual Giving and capital gifts, the Fund will serve to provide outstanding young people with the very finest opportunities for graduate education.
Annual Giving. Each year approximately 10 percent of the University's overall budget for educational and general expenses is raised through the Annual Giving campaign. In its 59-year history, Annual Giving has raised nearly $450 million for Princeton. In 1998-99 this initiative produced a record total of $32.7 million in unrestricted funds, with 61 percent of all undergraduate alumni contributing. Annual Giving owes its success to an extraordinary volunteer effort that reaches out to all Princetonians and friends through direct mail, phonathons, and personal conversations.
Capital Giving. Capital gifts support specific projects at the University, from professorships and scholarships to buildings and equipment. Among the current capital priorities are major construction projects, including a campus center, a center for engineering education, and new dormitory improvements; a 250th fund for innovation in undergraduate education; new programs in genomics, religion, and environmental studies; and fresh endowment to support continuing needs such as faculty positions, book funds, athletic programs, graduate fellowships, and undergraduate scholarships. As part of the Anniversary Campaign, Princeton is seeking capital support from alumni, corporations, foundations, and other friends of the University.