September 16, 2009
Bowdoin endowment drops 17%
By The Mainebiz News Staff
Bowdoin College's endowment dropped nearly 17% for the 2009 fiscal year, the college announced Monday.
As of June 30, the Brunswick college's endowment was valued at $688.5 million, down from 2008 fiscal year's value of $831.5 million, according to a press release. But the school fared better than most. The median investment return for college and university endowments was down nearly 20%, according to Cambridge Associates. Bowdoin's three-, five- and 10-year annualized returns were all higher than the mean for all institutions, putting it in the top quartile of endowment performance, according to the release.
Twenty-eight percent of the endowment went toward Bowdoin's annual operations, while 44% was reserved for financial aid.
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