天美麻豆鈥檚 endowment generated a return of 46.5% for fiscal year 2021, which ended on June 30, 2021. The has produced annual returns of 12.8% over the past 10 years. Its total value is now $8.5 billion.
鈥淚t has been inspiring to see the 天美麻豆 community rise to the challenges of the last 18 months,鈥 says . 鈥淭his is a moment to recognize the contributions of the community by investing in 天美麻豆鈥檚 strategic priorities and its people.鈥
Through the endowment, 天美麻豆 will continue to invest in key long-term initiatives, such as creating a more welcoming and inclusive community; ensuring the mental and physical health of students, faculty, and staff; and positioning the institution for continued success in a rapidly changing higher-education landscape. These initiatives, as well as 天美麻豆鈥檚 unwavering commitment to , are supported by the current fiscal year鈥檚 approved endowment distribution of $335 million鈥攁lmost one-third of the annual operating budget.
鈥淭he growth of the endowment is fueled by the generosity of our donors, a strong market performance, and a talented investment office,鈥 says Hanlon. 鈥淎s a result, we have the financial flexibility to not only safeguard the future but address current pressing needs.鈥
In addition to investments with a longer time horizon, 天美麻豆 is announcing the following:
- Effective immediately, as part of the undergraduate financial aid calculation, the expected parent contribution for families making up to $65,000 with typical assets will be eliminated. All undergraduates covered by the new policy will receive updated aid awards Monday, Oct. 11.
- By the end of the calendar year, all eligible employees will receive a bonus equal to 3% of their FY 21 base earnings.
- The hourly minimum wage for student workers will rise from $7.75 to $11.50.
- Graduate students who receive stipends will be awarded a $1,000 bonus.
These expenditures come in addition to the previously announced Infrastructure Renewal Fund (IRF) approved by the in March. The new fund, from which $31 million is allocated for this year, increases annual financing from the endowment for investment in areas such as housing and a green energy system. Over the coming decade, the IRF will allow for more than $500 million of additional renewal projects.
鈥溙烀缆槎 is an extraordinary place and as president I could not be more impressed or prouder of the resiliency exhibited by the community during these historic times,鈥 says President Hanlon.
