Study finds DelVal had the highest percent increase in endowments
Feb 10, 2012
A national study of over 800 colleges and universities found that Delaware Valley College’s endowment grew by 120 percent from fiscal year 2010 to fiscal year 2011, the highest of any institution.
The data came from the Commonfund Study of Endowments performed by the National Association of College and University Business Officers. NACUBO, based in Washington, D.C., is a membership organization representing universities and higher education service providers around the world. It works to advance the financial strength and business practices of academic institutions. The study looked at 823 schools in the United States.
“To have done better than more than 800 colleges and universities in endowment growth is clear recognition of our financial stability and the strides we have made in fundraising,” said Dr. Joseph S. Brosnan, DelVal’s president. “We are on a very successful path right now and our intention is to maintain that pace.”
A $30 million gift in land and cash from The Warwick Foundation was a major reason for the increase. During fiscal year 2010, the NACUBO study found that the market value of DelVal’s endowment was approximately $15.5 million. In fiscal year 2011, the study set the value at more than $34 million.
The percentages listed for change in endowments include: the impact of withdrawals, payment of endowment management and investment fees, donor gifts and other contributions, investments gains and losses, transfers to the endowment from other institutional accounts, and estimated values of real estate and other assets which may have large increases or decreases.