University Finances
'Strong rebound' for endowment
Endowment investments have returned 13.7 percent as of the close of the second quarter of FY2010 and are "ahead of the benchmark” according to Executive VP Craig Carnaroli.
Penn's total charges pass $50K
Total charges to undergraduates for the 2010-11 school year will rise to $51,944 from $49,986 this year. The 3.9 percent increase is the second-smallest ever behind last year's 3.8 percent rise.
No new plans for University budget cuts
Although Yale University, Brown University and Dartmouth College have announced potential budget cutbacks in the past week, Penn has not announced any new plans.
Penn Fund reaches new heights in donations
The Penn Fund, which receives annual donations from seniors and alumni, is 13.4 percent ahead of where it was at this point last year.
Peer institutions scale back budgets
As Penn and peer institutions have continued to battle the tough economic climate this fall, the University “continues to track well” toward the effort to reduce spending by $58 million by June 30, 2010.
Scholarship donations decline in recession
Donations to named scholarships are no exception to an overall decline in giving in the tough economy. But this does not necessarily mean Penn will fall short in meeting financial need.
Endowment up 8.3% for FY 2010
Despite the economic turmoil, Penn’s endowment — valued at $5.6 billion as of Sept. 30 — has remained stable. Still, administrators say they are aware of the challenging road ahead.
Major building donations at Penn remain strong despite economy
Getting a donor’s name on a Penn building isn’t any easier now than it was a few years ago, contrary to recent reports.
Nursing campaign nears fund goal
The School of Nursing’s fundraising campaign is on its way to reaching its conclusion and its $75 million target. The campaign has already raised $69 million for projects in the school.
University attracts millions from ARRA
Since President Barack Obama’s stimulus package was passed, the University has received more than $163 million in research funding from the American Recovery and Reinvestment Act.