With an endowment worth almost $7 billion, why does Columbia need more money?
Having exceeded $7.1 billion at the close of FY2007, Columbia’s endowment may sound like plenty. But keep in mind that only a small fraction of its value may be spent each year, generally in the form of income generated by investments. Remember also that between Columbia’s 16 schools, four campuses, almost 3,500 faculty, more than 10,000 staff members, and more than 24,500 students, the annual operating budget is $2.66 billion. Finally, as at most universities, much of Columbia’s endowment is restricted to specific purposes.
