MIT endowment rises to 10.9 billion, up seven percent from last year
MIT’s endowment grew in fiscal year 2013 to $10.9 billion, the highest ever, in large part due to investment returns of 11.1 percent, MIT announced Friday.
MIT’s operating revenues were $3.2 billion, which was $28 million more than operating expenses in the same period, according to the Report of the Treasurer for the year that ended on June 30, 2013.
The investment returns were “robust,” Executive Vice President and Treasurer Israel Ruiz wrote.
The portion of investment gains not reinvested but forked off to support MIT’s operations amounted to 18.8 percent of the operating revenues, which are used to run the Institute. Research grants and contracts made up half of the operating revenues.
Fiscal year 2012 saw MIT’s endowment surpass $10 billion for the first time when it rose to $10.1 billion. MIT’s endowment was the fifth largest of any U.S. private university in 2012, after Harvard’s $30.4 billion and the endowments of Yale, Stanford, and Princeton, which were each between $16 and $20 billion.
The 2013 figures for the other schools have not be released yet.