Report Finds College Endowments Flexible on Spending Rules
October 15, 2013
A new study of universities’ spending of endowment funds finds institutions are more likely to alter their strategies than previously thought, writes The Chronicle of Higher Education.
About half of the 800 funds analyzed by the National Bureau of Economic Research changed their spending rules between 2003 and 2011. About a quarter of the funds’ spending policies changed annually, according to the report, with larger endowments more likely to change rules because of the flexibility conferred by their size.
