Latest Endowments News

Court: Iowa college can't count value of Grant Wood panels

Nov. 8, 2019 2:56 PM EST

DES MOINES, Iowa (AP) — A small Eastern Iowa liberal arts college must continue to carry seven donated paintings by artist Grant Wood on its books as restricted assets unavailable for sale, the Iowa Supreme Court said Friday, dealing a financial blow to the college's endowment fund which can't count the...

Clarification: Seminary Scholarships-Slavery story

Oct. 23, 2019 12:16 PM EDT

PRINCETON, N.J. (AP) — In a story Oct. 22, The Associated Press reported that Princeton Theological Seminary will set aside $28 million to provide 30 scholarships for students who descended from slaves or underrepresented groups. The story and headline should have made clear that the money is an endowment...

Massachusetts Christian college gets anonymous $75M gift

Oct. 21, 2019 10:05 AM EDT

WENHAM, Mass. (AP) — A small Christian liberal arts college in Massachusetts has received a donation of more than $75 million. Gordon College in Wenham says the gift from an anonymous donor is designated for the school's endowment and directed to fund student scholarships. The gift is part of the school's...

Smith College votes in favor of fossil fuel divestment

Oct. 20, 2019 2:09 PM EDT

NORTHAMPTON, Mass. (AP) — A Massachusetts college has announced it will divest all its fossil fuel investments within the next 15 years. The Daily Hampshire Gazette reports that Smith College of trustees voted in favor of divestment Friday. The women's college in Northampton will direct an outsourced...

Big Sean's foundation helps tackle student homelessness

Oct. 13, 2019 10:02 AM EDT

DETROIT (AP) — Rapper Big Sean's philanthropic foundation continues to support a program created to deal with student homelessness at Detroit's Wayne State University. The school recently announced a gift of $10,000 from Sean Anderson Foundation to the HIGH (Helping Individuals Go Higher) Program. The...

Idaho has enough money to buy 130,000 acres of timberland

Oct. 10, 2019 7:24 PM EDT

BOISE, Idaho (AP) — If Idaho spent the remaining $150 million of the estimated $240 million it's getting from the sale of residential and commercial real estate, it could buy another 130,000 acres (53,000 hectares) of timberland, Gov. Brad Little was told Thursday. Little and Attorney General Lawrence...

Oprah to give $13 million more for aid at black college

Oct. 8, 2019 2:16 PM EDT

ATLANTA (AP) — Oprah Winfrey says she's giving $13 million to increase a scholarship endowment at a historically black college. Winfrey announced her plan Monday at Morehouse College in Atlanta, adding to the $12 million she gave to the all-male college in 1989. She was meeting with 47 students who benefit...

Brown's endowment grows to a record high $4.2B

Sep. 27, 2019 2:00 PM EDT

PROVIDENCE, R.I. (AP) — Brown University's endowment outperformed benchmarks to grow to a record $4.2 billion. The university in a statement Friday said its endowment earned a 12.4% return during the 2019 fiscal year to surpass both the preliminary return of its benchmark portfolio and Cambridge...

Harvard endowment grows to nearly $41B after 6.5% growth

Sep. 27, 2019 10:40 AM EDT

CAMBRIDGE, Mass. (AP) — Harvard University says its endowment has grown to nearly $41 billion after gaining 6.5% in the last fiscal year. The school announced the growth in a campus message Friday. Endowment chief Narv Narvekar said he is encouraged by the progress but says he remains "mindful that there...

Idaho agencies say state land agreement is a good deal

Sep. 26, 2019 5:34 PM EDT

BOISE, Idaho (AP) — An agreement formalizing public access to state-owned lands has been a good deal for the two Idaho agencies involved as well as hunters, anglers and recreationists, state officials said Thursday. The Idaho Department of Lands and Idaho Department of Fish and Game said that both sides...