The University of Massachusetts‘ endowment recently hit the $506-million mark, the highest in the school’s history, President Jack M. Wilson announced this morning in Lowell.
The endowment fund, which pays for scholarships and professorships, experienced strong growth of $87 million, or 23 percent, over the past year. Its current level is in stark contrast to its total in 1995, which was $47 million.
Nationwide over the same period, the endowment’s annual growth was second only to Syracuse University, according to a January report from the National Association of College and University Business Officers and Commonfund.
Wilson credited donors, the university’s investment decisions and the leadership of the board of trustees and chancellors for the increase.
The school’s endowment now ranks 137th in the United States and Canada.
