University endowment shows growth

Compared to peer universities, Duke’s endowment is on the upswing.

Duke saw a 24.5 percent return for the 2010-2011 fiscal year, which ended June 30, The Chronicle reported Sept. 26. Endowment investments outpaced those of Harvard University—whose endowment increased 21 percent in 2010-2011—and Stanford University—whose endowment increased 22 percent, according to Bloomberg Sept. 27.

The Duke University Endowment is now valued at $5.7 billion. Duke’s endowment fell 20 percent between June 2008 and January 2009. As a result, major projects —such as plans for New Campus—were put on hold, and the University announced $50 million in budget cuts.

At the end of the 2008-2009 fiscal year, the endowment was worth approximately $4.4 billion, according to the University’s 2008-2009 financial statements. The endowment increased 13.2 percent in the 2009-2010 fiscal year, rising to $4.8 billion.

Duke’s endowment has recovered about 80 percent of the losses it sustained in the economic downturn, The Chronicle reported Sept. 26.

More than 4,000 individual funds and donations contribute to Duke’s endowment.