ACTA is an independent, non-profit organization committed to academic freedom, excellence, and accountability at America's colleges and universities.

ACTA is an independent, non-profit organization committed to academic freedom, excellence, and accountability at America's colleges and universities.

ACTA is an independent, non-profit organization committed to academic freedom, excellence, and accountability at America's colleges and universities.

Spending Endowment Income for Current Use

Why So Little? Mea Culpa

January 2008 by Edward N. Costikyan

First issued in May 1998, Columbia University trustee emeritus Edward Costikyan focuses on a seminal report issued by the Ford Foundation called "Managing Education Endowments." Costikyan argues that college and university trustees have applied Ford's strategy to increase their endowments but have failed to approach the spending levels recommended by the same report. As a consequence, while endowments have grown at a meteoric rate, spending has hovered at around 3% with serious implications regarding the ongoing affordability of higher education and the advisability of current practices.