News and Information
Emory University
Atlanta, GA 30322
Release date: Feb. 10, 1997
Contact: Jan Gleason, Director
Emory had a 35 percent increase in the market value of its endowment for the fiscal year ended June 30, 1996, according to a National Association of College and University Business Officers (NACUBO) endowment study released Feb. 10. Emory's market value increased to $3,013,112,000 on June 30, 1996, compared to $2,232,188,000 on June 30, 1995.
The phenomenal change in the market value of Emory's endowment, from $250 million in 1982 to $3 billion, has propelled Emory into sixth place nationally among university endowments, according to the NACUBO study. The funding that Emory receives from its endowment has grown from $18 million in 1981 to $90 million in 1996.
A significant part of Emory's endowment growth was realized from the holdings of stock in The Coca-Cola Company. As of June 30, 1996, Emory held approximately 37.2 million shares of Coca-Cola stock, valued at $1.8 billion, making Emory one of the largest private holders, according to Wayne Coon, Emory associate vice president for endowment investments. In 1979, Emory received the assets of the Emily and Ernest Woodruff Fund, valued at $105 million, from the late Robert and George Woodruff. The gift was made entirely in Coca-Cola stock, the value of which has steadily increased, particularly over the past 12 years.
Emory's $3-billion endowment provided $90 million in revenue for spending in fiscal 1996. Of that amount, $71 million was spent for current operations, $11 million was used to fund interest and principal on debt, and $8 million was set aside for the facilities matching program. Emory's operating revenue for fiscal year 1996 totaled $1.16 billion. Endowment spending accounted for $90 million of this total with endowment spending accounting for 7.76% of total revenue for that year.