U endowment fund ranks among nation's biggest

  • Article by: Star Tribune
  • Updated: January 24, 2008 - 9:34 PM

A record year of fundraising and good investment returns boosted the University of Minnesota's endowment in 2007 to $2.8 billion, an increase of 26.1 percent from the year before.

As a result, the University of Minnesota moved up one spot, from 25th to 24th, in the National Association of College and University Business Officers ranking of the largest endowments among 785 higher education institutions.

In fiscal year 2007, the university set a record by raising $234 million. That total was up 39 percent from 2006. University spokesman Daniel Wolter said that the university also had strong investment returns.

Harvard University has the largest higher education endowment in the United States with $34.6 billion, up 19.8 percent from 2006.

AMONG OTHER MINNESOTA SCHOOLS

Macalester College, 109th, $676 million, up 17.1 percent.

Carleton College, 111th, $663.5 million, up 16.0 percent.

University of St. Thomas, 181st, $359 million, up 19.6 percent.

The NACUBO, founded in 1962, is a nonprofit professional organization representing chief administrative and financial officers at more than 2,100 colleges and universities across the country.

LEARN MORE ONLINE

Learn more about the survey online at www.nacubo.org.

PAUL WALSH AND JEFF SHELMAN

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