September 18, 2013

Bowdoin College's endowment tops $1 billion

In the fiscal year ending June 30, the endowment earned a 16 percent return.

From staff reports

Bowdoin College’s endowment has exceeded $1 billion, campus officials said Wednesday.

click image to enlarge

Hubbard Hall at Bowdoin College

Wikipedia photo

Related headlines

In the most recent fiscal year ending June 30, the endowment earned 16 percent. The endowment, valued at $1.04 billion at the end of the fiscal year, is made up of over 1,600 individual funds.

About 45 percent of the endowment is used to support student financial aid. The school does not consider a student’s economic need during admissions, and in 2008 adopted a “no-loan” policy that replaced student loans with grants.

Bowdoin was ranked 20th on Forbes' annual list of America's Top Colleges earlier this year, and its financial health was rated an A+, based in part on its endowment.

Bowdoin’s 16 percent return is higher than the mean return of 11.6 percent for college and university endowments reported by Cambridge Associates, a firm that tracks endowment performance nationwide.

“This is a phenomenal accomplishment for our College,” said Bowdoin President Barry Mills in a statement. “It is due to the enormous generosity of our alumni, parents, and friends. It is also due to the prudent and brilliant management of our endowment by our senior vice president for investments, Paula Volent, and an investment committee that is thoughtful, nimble, and disciplined.”

The three-, five-, and 10-year annualized returns for Bowdoin’s endowment were 13.3 percent, 5.9 percent, and 10.3 percent, respectively.
 

Were you interviewed for this story? If so, please fill out our accuracy form

Send question/comment to the editors




Further Discussion

Here at PressHerald.com we value our readers and are committed to growing our community by encouraging you to add to the discussion. To ensure conscientious dialogue we have implemented a strict no-bullying policy. To participate, you must follow our Terms of Use.

Questions about the article? Add them below and we’ll try to answer them or do a follow-up post as soon as we can. Technical problems? Email them to us with an exact description of the problem. Make sure to include:
  • Type of computer or mobile device your are using
  • Exact operating system and browser you are viewing the site on (TIP: You can easily determine your operating system here.)