Endowment performance outpaces the rest of the nation

With a 32 percent increase in the market value of its endowment in the fiscal year that ended June 30, 1995, Emory had the highest growth rate on invested funds among all universities, according to a recently released National Association of College and University Business Officers (NACUBO) Endowment Study. Emory's invested assets increased from $1,691,166 to $2,232,188. The 32 percent growth rate was more than double the average increase of 15.5 percent in the study.

The phenomenal growth in the market value of Emory's endowment, from $296 million in 1982 to $2.2 billion, has propelled Emory into sixth place nationally among university endowments, according to the NACUBO study.

"Emory's endowment has outperformed any other university's portfolio for the past 10 years, particularly when you factor in the past seven years," said John Temple, executive vice president. "With about 57 percent of our endowment invested in Coca-Cola common stock, our performance will be dominated by Coca-Cola's performance, and they have done extremely well."

Emory holds approximately 19.5 million shares of Coke stock, valued at $1.5 billion. In 1979 Emory received the assets of the Emily and Ernest Woodruff Fund, valued at $105 million, from the late Robert and George Woodruff. That gift was all in Coca-Cola common stock, whose value has increased steadily since then, particularly over the past seven years.

Emory's endowment provided $48.3 million of revenue in FY 1995, or 4.4 percent of Emory's total budget of $1.11 billion, and 9.1 percent of its $528 million educational budget.

-- Jan Gleason


Return to the February 26, 1996 contents page