NEW YORK (AP) — College endowments made gains in the fiscal year that ended in June, but many are still struggling to make up ground they lost in 2008 and 2009.
A report released Tuesday based on data gathered from 823 U.S. colleges and universities finds that their endowments returned an average of 19.2 percent for the 2011 fiscal year. That’s up from 11.9 percent in fiscal year 2010.
But 47 percent of the institutions have endowment market values below what they reported in 2008.
Harvard University had the largest endowment of any U.S. university at $31.7 billion. Yale was second with $19.4 billion.
The report is from the National Association of College and University Business Officers.
