Over the past few years, Temple University’s endowment has continued to grow, and this year was no exception. Temple’s endowment has now surpassed $500 million, a huge milestone for the university. As of October 31, the university has received $513.6 million.
President Richard Englert said the donations received from contributors, alumni and friends have made a huge impact on the university as a whole. “We are grateful to our donors, whose support is not only inspiring but also making a lasting impact,” he said. “Donor support, the visionary leadership of our Board of Trustees and our stewardship efforts have combined to enhance the university’s long-term health, including our earning power.”
According to the National Association of College and University Business Officers, the average endowment across 812 colleges and universities is $651.5 million; however, more than half of those have endowments of less than $115 million.
Temple has grown its endowment in three ways, university officials said. These include increasing donor support, the diversification of assets, and the systematic transferring of $10 million per month into short term bond funds. All of these methods lessen the restrictions on funding and allow the university to use them on certain priorities.
The hope is to continue to grow the university’s endowment over the years to expand scholarships and other beneficial commodities for the school.