Endowment growth in 2023 from colleges and universities in the Greater Philadelphia Area rebounded for the most part after losing ground the year before, writes Ryan Mulligan for Philadelphia Business Journal.
In Delaware County, endowment growth in 2023 was seen at Villanova University and Haverford College. Swarthmore College was down slightly by .03 percent.
College endowments are gifts and donations made to the school, which are then invested into funds that can be drawn on to pay for scholarships, capital projects, endowed faculty positions, and other expenses.
Villanova University saw a 1.17 percent increase in endowments for 2023, with $1.19 billion in endowments showing an investment return of $23.04 million after endowment spending of $45.72 million.
Haverford College saw a 3.91 percent gain, with $643.20 million in endowments showing an investment return of $46.89 million after endowment spending of $27.24 million.
Swarthmore College’s endowments for 2023 total $2.72 billion, with an investment return of $111.48 million and endowment spending of $117.73 million.
The University of Pennsylvania, with one of the largest endowments in the U.S. at nearly $21 billion, saw endowment growth after a quarter-of-a-billion investment return but also saw record spending of nearly $977 million.
Compare the endowment health and wealth of colleges in the Philadelphia region at Philadelphia Business Journal.
