MSU’s 2011 endowment funds rank No. 5 of the 12 institutions in the Big Ten in terms of percentage increase, according to the initial results of a national survey.
The survey, released Tuesday by the National Association of College and University Business Officers, or NACUBO, shows the percentage change in the market value of an endowment from fiscal year 2010 to fiscal year 2011, MSU chief financial officer Mark Haas said in an email.
Fiscal year 2010 ended June 30, 2010, and fiscal year 2011 ended June 30, 2011.
MSU had an endowment fund of more than $1.1 billion ending in fiscal year 2010. It increased by 22 percent to more than $1.4 billion ending in fiscal year 2011 — the 10th largest endowment in the Big Ten and No. 54 in the country, according to the survey. The funds are used for research, student scholarships and study abroad initiatives, among other uses, Haas said.
The NACUBO officials surveyed 839 institutions across the country. On average, endowments increased by 17.8 percent to more than $497 million during fiscal year 2011 from more than $422 million in fiscal year 2010.
“Endowment dollars enable us to recruit and support excellent students and faculty by providing a steady, consistent and permanent source of income,” Haas said, attributing the increase to a recovering economy.
These dollars are MSU’s common investment fund — comprised primarily of the university’s endowment fund — invested through U.S. and international stocks, private investments and other areas, he said.
Check later editions of The State News for more on MSU’s endowment.
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