Big colleges, such as Ohio State University, saw the biggest gains. OSU’s endowment increased by nearly 19 percent, or around $675 million, to a total of $4.25 billion, according to the study. In October, Ohio State invested another $819 million, bringing its endowment to more than $5.1 billion.
“We are pleased about our performance in the past year, but our focus is a longer time horizon than any single year. That’s why we are always focused on a diversified approach that includes steps to mitigate risk,” OSU officials said in a prepared statement.
The endowment gains made by Ohio Statewere the largest in Ohio and the 23rd largest in the country. At more than $36 billion, Harvard University reported the largest endowment in 2017, followed by Yale University with $27.1 billion.
Endowment funds grew by double-digits at seven of nine area colleges surveyed in the NACUBO study.
Wittenberg University and Wright State University were the only area schools that had single-digit growth last year. Wittenberg’s endowment was valued at $106 million and Wright State’s at $85.7 million. The University of Cincinnati’s grew to more than $1.2 billion, while Miami ended the 2017 fiscal year with an endowment of $512 million.
Although the University of Dayton’s endowment increased by 10.8 percent to $524 million, school officials cautioned not to expect the same performance year after year.
“We are very pleased with returns for this fiscal year,” said Andrew Horner, UD vice president for finance and administrative services. “But, I would say it is an outlier.”