Princeton University Endowment Rises To $26 Billion Amid Pandemic

PRINCETON, NJ — Amid a financially crippling pandemic, Princeton University’s endowment saw a 5.6 percent raise for the fiscal year ending June 30, 2020, the university announced.

The endowment value stood at $26.6 billion - about half a billion increase from the previous fiscal year, said the university.

The Princeton University Investment Co. (PRINCO), the office that manages the endowment, certified the results during a meeting of its directors on Oct. 15.

“Princeton has been fortunate to face the many financial challenges created by the COVID-19 pandemic from a strong budgetary position, thanks in part to an endowment that is the result of generations of generosity from alumni and friends, as well as effective stewardship and investment by the trustees and PRINCO,” Provost Deborah Prentice said in a statement.

Prentice said the endowment will continue to be a crucial tool during the pandemic as it will help in “restoring our teaching and research activities to normal operations, safely but as soon as possible.”

The endowment is made up of more than 4,000 funds that were established since the University’s founding in 1746. It funds more than 60 percent of the University’s operating budget.

It also supports scholarship, teaching and research of Princeton’s faculty as well as classrooms, laboratories, libraries, academic programs, athletics and religious life.

The university said that during the pandemic, the endowment has helped the University continue to make important investments, including financial aid to students; tools and infrastructure to support online teaching; and COVID-19 testing program for the campus and broader communities.

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