Le Moyne Ranked First in Endowment Percentage Increase Among Private Colleges and Universities
SYRACUSE, N.Y. (For Immediate Release) … The market value of Le Moyne College’s endowment for the year ending June 30, 2009, recorded a percentage increase that was higher than all but one of the 863 institutions ranked in a recent report. The percentage increase was largest among any private institutions included in the report. posted on: 2/5/2010
For the 12-month period measured, the size of Le Moyne’s endowment increased from $44.1 million to $83.9 million, an increase of 90.4% The only institution of any kind that showed a larger increase was the University of Buffalo Foundation (at 91.6%); the next large percentage increase was the 70.5% increase for the endowment of the Pacific Northwest College of Art.
The increase in endowment size moved Le Moyne from the nation’s 555th largest endowment for the year ended June 30, 2008, to 384th in the 2009 report.
“This important measure clearly demonstrates the transformative nature of the McDevitt Endowment,” said Le Moyne President Fred P. Pestello, Ph.D. “The magnificent gift of $50 million put Le Moyne on an entirely new footing that will enhance excellence across the campus.”
Announced in November 2008, the McDevitt Endowment was established through a gift from the estate of Robert and Catherine McDevitt of Binghamton, N.Y., long-time friends of Le Moyne College and faithful supporters of Jesuit education. It will be dedicated to the academic areas of computer science, information processing, religious philosophy and physics.
In the report, the “one-year change” category measures how much the market value of endowments changed, and “…includes growth from gifts and return on investments, as well as reductions from expenditures, withdrawals, and investment losses.” The report was released by the National Association of College and University Business Officers.
Another survey, by the Council for Aid to Education, listed Le Moyne second among the nation's liberal arts colleges for funds raised during 2009. Click here to read the story from insidehighered.com.