The value of the College endowment increased by 6 percent over the 2010 fiscal year, to reach a value of just under $3 billion as of June 30, College officials announced in a press release on Friday.
The endowment enjoyed a 10 percent return on the fiscal year, with a net increase of $173 million after increases in the value of investments, new donations and disbursements for operating expenses are accounted for, according to the release.
Executive Vice President Steven Kadish said College officials were "pleased" by the endowment return, since endowment managers had attempted to manage the endowment to "provide ample liquidity and maintain a prudent level of risk."
The increase follows a 23 percent loss in fiscal year 2009, which saw the value of the endowment decline to $2.8 billion from a height of $3.66 billion, an $835 million loss.
Over the past two fiscal years, College administrators have worked to reduce outlays, in order to limit spending and deficits created by the endowment loss, as well as to reduce the portion of the endowment that goes toward operating expenses.
College President Jim Yong Kim said in January that the administration would budget in expectation of a 5 percent return on the endowment for fiscal year 2010.
