Friday, September 11, 2009
Harvard's endowment drops sharply amid recession
Harvard's endowment drops sharply amid recession: "BOSTON (AP) - The total value of Harvard's endowment plunged nearly 30 percent in the last fiscal year as the Ivy League institution's portfolio was battered by the worldwide recession, the university's management company said Thursday.
The endowment stood at $26 billion on June 30, after distributions and donations, the university said. It stood at $36.9 billion 12 months earlier, at the close of the previous fiscal year."