UR's Endowment Grows to More than $2 Billion
The University of Rochester's endowment has exceeded 2 billion dollars in long-term investments for the first time.
President Joel Seligman credits increases in the stock market for much of the growth, as well as the university's on-going capital campaign.
The university president explains the funds help the college finance the best and brightest.
“For example, we have created 86 new endowed professorships during our capital campaign. That provides resources to hire or retain some of the great stars in the country,” said Seligman.
The capital campaign has also funded endowed student scholarships to the tune of 200 million dollars.
The college uses only 5.5 percent of the invested funds each year.