College endowments show growth

WASHINGTON (AP) — A report says the nation's college and university endowments had strong growth last year.

An analysis released Tuesday by the National Association of College and University Business officers and Commonfund used data from 835 institutions.

Among endowments, the highest performer was Harvard University with $32 billion. That was followed by Yale University, $21 billion; University of Texas System, $20 billion; Stanford University, $19 billion; and Princeton University with $18 billion.

More than 80 institutions reported endowments from the 2013 budget year valued at more than $1 billion. Overall, endowments returned an average of 11.7 percent.

Survey participants said, on average, nearly 9 percent of their operating budgets are funded by endowments.

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On the Net:

National Association of College and University Business Officers: http://www.nacubo.org/

Commonfund: http://www.commonfund.org