We appreciate the recentarticle about theannual endowment report from the National Association of College and University Business Officers (NACUBO) and want to provide the Emory community with additional context about the endowment and its performance during the 2020 fiscal year.
The strength of the endowment allows Emory to recruit the best students, faculty, researchers and health care professionals. The endowment distributed over $300 million during the 2020 fiscal year to support student financial aid, endowed faculty positions, academic programs and research, and sustain the operation and maintenance of campus facilities.
The increase reported by NACUBO was measured after taking this spending distribution into account. Despite a challenging year and a turbulent financial market, the endowment returned an increase, even after distributing millions of dollars to support the University activity.
Emory Investment Management serves as the fiduciary of the endowment, maintaining a diverse portfolio and working with external partners to support the University’s present and future spending needs, while focusing on long-term, inter-generational growth. We are pleased the endowment’s strong performance continues to advance Emory’s strategic goals.
Christopher Augostini is the executive vice president for business and administration and chief financial officer at Emory University. Srinivas Pulavarti is the chief investment officer for Emory Investment Management.
