To learn more about Stanford’s endowment, The Daily interviewed Robert Wallace, chief executive officer of the Stanford Management Company (SMC), which is responsible for managing the $28.7 billion dollar Merged Pool, the principal fund for investing the endowment.
Attending graduate school represents one of the most significant (and often scariest) leaps in one’s professional career. It’s an opportunity to move to a new place and learn from the brightest minds in our fields, to satisfy a thirst for knowledge and push ourselves to our academic limits. For many students, Stanford is the epitome…
Provost Persis Drell presented on the 2019-20 University budget plan at Thursday afternoon Faculty Senate meeting. She described the financial calculus behind the 2.1 percent endowment payout for the upcoming fiscal year and described Stanford’s financial priorities as reflected by the allocation of general funds.
In an email to faculty members, Provost Drell announced that up to $1.7 million dollar funds would be made available to the Stanford University Press in fiscal year 2020. Her message followed outcry from Stanford faculty members and affiliates, after Drell’s announcement at Friday’s Faculty Senate meeting that a funding application from the Press had been rejected.
In the Thursday’s Faculty Senate, Provost Persis Drell summarized the financial position of the University’s endowment and a controversial recent decision to turn down a request from the campus publishing house, Stanford University Press, for additional funds. The Senate later deliberated over the state of graduate student education and affordability.
Expecting still-rising costs and poor endowment performance, Drell spoke of “cost cutting” in response to low expectations for the University’s financial prospects. The Senate also unanimously passed a resolution expressing support for need-blind admission and need-based financial aid for international undergraduate students.
Although Stanford makes over $6 billion in revenue, only about one-fifth of that money is designated as a ‘general fund,’ meaning the University can spend the money on anything it deems fit.
Stanford released its annual financial results for the 2018 fiscal year on Thursday, which included a Stanford Management Company (SMC) statement on investment portfolio returns as well as the University’s announcement of its endowment value, according to a report released by Stanford News.