U.Va. endowment parallels recovery
By Jason Nguyen | February 1, 2012The University has the 19th largest endowment of the 838 colleges in the United States and Canada included in a survey released Monday by the National Association of College and Business Officers (NACUBO) and Commonfund.. The University's endowment, managed by the University's Management Company, increased by 28.4 percent to $4.76 billion from its 2010 value of $3.7 billion. This growth reflects the net impact of withdrawals to fund institutional operations and capital expenses, the payment of endowment management and investment fees, additions from donor gifts and other contributions, and investment gains or losses. "Before the economic downturn, we used to say that the endowment was the icing on the cake at the University," University spokesperson Carol Wood said.
