CorrectionsThe Oct. 17 article “MIT Endowment Increases to $8.4 Billion” makes inaccurate comparisons of some of the rates of return and increases in the endowment. The rate of return (not the increase, as stated in the article) on investments for the fiscal year ending on June 30, 2006 was 23 percent. The endowment increased $1.7 billion over the previous year’s endowment. The previous fiscal year’s return was 17.6 percent, with a 14.4 percent increase over fiscal year 2004.
The numbers provided in the article for FY 2006 regarding Yale (22.9 percent) and Harvard (16.7 percent) are also rates of return. The rates of return for FY 2005 for Yale and Harvard were 22.3 percent and 19.2 percent, respectively.