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Operating Budget

2016–17 $1,926,287,000
2017–18 (projected) $2,108,050,000

The total operating budget for 2016-17 included funding for sponsored research at the Princeton Plasma Physics Laboratory (PPPL), which totals $125 million. PPPL operates on a federal fiscal year that ends Sept. 30, 2017.

Income and Expenditures

Income 2016–17 (in thousands)

Endowment payout and other investment income 48% $914,674
Student fees 18% $343,244
Sponsored research 17% $338,156
Gifts and other income 12% $230,507
Auxiliary activities and service income 5% $99,706

All percentages rounded.

Expenditures 2016–17 (in thousands)

Academic departments 37% $719,889
Physical facilities 21% $406,537
Student aid 15% $277,967
Administrative services 12% $227,808
Library/computing/museum 7% $139,177
PPPL 6% $125,000
Athletics 2% $29,909

The Endowment

Princeton’s endowment is the fifth-largest in the country, with a value of $22.8 billion as of March 31, 2017. (Harvard University, Yale University, the University of Texas System and Stanford University had larger endowments as of June 30, 2016.) The endowment is invested mostly through funds managed externally in a diversified group of assets, including domestic and international stocks and bonds, independent return 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” — is estimated to be over 12 percent per year over the 25-year period ending June 30, 2017.

Giving to Princeton

Princetonians generously support all aspects of the University’s teaching and research mission. Recent gifts from alumni and friends have supported the Louis A. Simpson International Building and the Julis Romo Rabinowitz Building, and Princeton University’s librarian will now be known as the Robert H. Taylor 1930 University Librarian thanks to a generous bequest. The completion of the Peter B. Lewis Center for the Arts complex, including the Wallace Dance Building and Theater, opens a new chapter in the arts at Princeton.

Annual Giving. Critically important to Princeton’s continuing vitality, Annual Giving is at the core of the University’s efforts to seize opportunities for learning and discovery, support the comprehensive financial aid program, fund new initiatives, and help meet emerging needs and challenges. Flexible and immediately available, the unrestricted funds raised through Annual Giving provide nearly 10 percent of the University’s overall budget for educational expenses.

Since 1940, Annual Giving has raised more than $1.32 billion for Princeton, and 90.1 percent of alumni have participated at some time. The 2016-17 Annual Giving campaign raised $74.9 million — the first-ever Annual Giving total in excess of $70 million, with 56.8 percent of undergraduate alumni participating. Annual Giving owes its success to an exceptional volunteer effort that galvanizes Princetonians from around the world.