The latest news on college endowments
The Internal Revenue Service, examining the schools' tax exemption, sent 400 colleges questionnaires.
Less prominent schools fall victim to struggling markets.
The university collected $651 million in fundraising and posted an 8.6 percent return on its endowment.
A congressional roundtable adds to the pressure for universities to share their wealth with students.
The nation's 76 richest colleges earned a market-beating 21.3 percent on their billions of dollars in tax-free endowment funds in the fiscal year ending last June 30, according to a report issued today by the National Association of College and University Business Officers. But the large endowments' secret weapons—increasingly exotic alternative investments such as overseas companies, hedge funds, oil well leases, and timberlands—are drawing growing criticism and calls for regulation. Senior Writer Kim Clark has the story.
Their billions in tax-free funds earned 21.3 percent in the past fiscal year.