U.Va. endowment surpasses $2 billion
By Timothy Lee | April 23, 2004The University's endowment surpassed $2 billion for the first time, the Board of Visitors announced April 15. According to a report released by the Board's Finance Committee, the University endowment's ending balance was $2,013,600,000 as of March 31. "The endowment does support a substantial part of the budget so it is important that growth is at least on pace with inflation," said Collette Sheehy, University vice president of management and budget. Vice President of Finance Yoke San Reynolds said the endowment is supported mainly by two sources. "We knew the endowment has been gaining steadily due to gifts and investment returns," Reynolds said.


