Uncategorized | 11:19 pm | July 7, 2011 | By Alison Griswold

Cornell’s endowment rises

Cornell’s endowment rose 17.2 percent in fiscal year 2011, according to preliminary figures announced by the university Wednesday.

The increase marked the second straight year of growth for Cornell, according to a university press release, and the continued recovery of an endowment that plunged 26 percent in the wake of the 2008 financial crisis.

Cornell’s endowment began to rebound in fiscal year 2010, when it grew 12.6 percent. The endowment was valued at $5.27 billion when the latest fiscal year ended on June 30 — approaching the high of $5.8 billion it was worth before the economic downturn.

Yale has yet to release any data about how its endowment performed in fiscal year 2011. Though Yale’s endowment posted the worst return in the Ivy League during fiscal year 2010, it remained the second largest in higher education, valued at $16.7 billion.

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