Tuesday, May 30, 2006

USATODAY.com - Endowments: Closed books?

USATODAY.com - Endowments: Closed books?: "Endowments: Closed books?
Posted 5/29/2006 9:15 PM ET E-mail | Save | Print | Subscribe to stories like this
By G. Jeffrey MacDonald, Special for USA TODAY
Supporters of major colleges and universities are commonly barred from knowing how their donations are invested, according to a survey released Tuesday.

Only senior administrators and trustees know where endowment dollars go at 66% of the 216 schools that responded to a survey by the Sustainable Endowments Institute, a research and consulting project of Rockefeller Philanthropy Advisors, a consulting firm for benefactors.

Every school in the survey has an endowment of at least $100 million. The median endowment for U.S. and Canadian colleges in 2005 was $71.66 million, says the National Association of College and University Business Officers.

Results of this first-time collegiate investing survey are striking a chord on campuses where students want to see investment policies reflect their schools' moral values."

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