Posted 8/25/2014 10:50 am
Updated 4 weeks ago
The University of Arkansas announced its endowment holdings reached a record high of $920.6 million in the fiscal year that ended June 30.
It's more then $100 million higher than the previous year's total of $818 million.
According to the university, the estimated one-year investment return is 16 percent. That return will be an estimate until the UA Foundation completes its annual audit in the fall. Based off the current estimate, the annualized return over the last five years is 13 percent.
The UA Foundation’s target return for the endowment is 7 to 8 percent.
"It's especially encouraging to see us nearing the $1 billion mark and making a nice recovery from the market declines everyone experienced in the late 2000s," Chris Wyrick, vice chancellor for university advancement, said in a news release. "More and more donors are choosing to allocate their contributions to endowed funds, because they understand the impact it will have over time."
The endowment is managed by the University of Arkansas Foundation for the Fayetteville campus and includes the Fayetteville Foundation, the AGRI Foundaiton, the University of Arkansas Fayetteville Campus Foundation, Campus Endowments, the Razorback Foundation and the Alumni Foundation.
Earlier this month, the university announced it eclipsed its fundraising goal, finishing the fiscal year that ended June 30 with $113.3 million. Endowed funds received $28.7 million.