(10-28-2021, 05:00 PM)paloalto Wrote: https://www.stanforddaily.com/2021/10/27...-in-gains/
“Stanford reports ‘record year’ of investment returns, nets $12.1 billion in gains”
Is this investment return dedicated to maintenance of existing programs or can it be used at the discretion of President Marc Tessier-Lavigne. For example, could it be used to fill in gaps in the athletic department? At the beginning of the season scrimmage WVB coach Hambly said B1G schools get far better transportation arrangements and per diem expenses than Stanford for Olympic sports due to greater TV revenue from football.
I would be very surprised if the any of the "extra" $500m distribution went to the AD
Quote:“These results have created a tremendous opportunity to advance Stanford’s mission,” said Stanford President Marc Tessier-Lavigne. “To that end, I am pleased to announce that the Trustees have approved using $500M of endowment, on top of endowment payout. These funds will be used to support our core academic mission and to accelerate our education, research, affordability, inclusion and outreach activities under our Long-Range Vision.”
https://news.stanford.edu/2021/10/26/sta...Gf3xZvqmVk
and the AD has their own ~$700m endowment that other University ADs do not, ~$700m estimated based on the AD payout of $34.7m in 2018-19 (last report I could find) assuming a 5% payout on the endowment.
https://www.daperdevelopment.com/1dc1c09...evelopment
If the AD endowment grew like the University's over the last couple of years (2019-20 up 5.6%, 2020-21 up 40.1%) it is now at ~$1b
Eric
"the older we get the better we were"