MIDDLEBURY — The endowment of Middlebury College has inched above $1 billion in the past year.
The institution recently announced that on June 30 the value of Middlebury’s endowment stood at $1.10 billion — up $19.1 million from a year earlier. The change in the endowment from year to year is determined by investment gains and losses plus new gifts, minus the annual payout to help fund the operations of the institution.
Last year the payout from the endowment contributed $57.1 million toward Middlebury’s $310 million operating expenditures.
Middlebury College’s endowment generated an investment return of 6.9 percent in the fiscal year that ended June 30. The annualized return over the past 10 years is 8.7 percent (both figures are after fees paid to endowment managers). The endowment’s 10-year return outperformed the 7.9 percent return of the S&P 500 Stock Index.
Middlebury’s endowment is managed by Investure, a firm based in Charlottesville, Va., that manages the endowments — with a total value of $13 billion — of 14 colleges and foundations. Investure began managing the Middlebury endowment on May 31, 2005.
The Middlebury endowment supports all of the institution’s schools, including the undergraduate college, Middlebury Institute of International Studies at Monterey, Middlebury Language Schools, Schools Abroad, Bread Loaf School of English, Bread Loaf Writers’ Conferences, and School of the Environment.
“We continue to be pleased with the performance of our endowment under Investure’s management,” said Patrick Norton, Middlebury vice president for finance and treasurer. “As always, we’re grateful for the critical support from Middlebury alumni, parents, and friends. Thanks in part to their generosity, our endowment has continued to grow.”