Top 10 Schools With Super-cool Endowments

With the recession taking its toll on just about everything, university endowments were far from spared. By the end of fiscal year 2009, the National Association of Colleges and Employers and University Business Officers reported that endowments were down 18.7 percent. However, 2010 saw a much-needed rebound, rising nearly 12 percent across the board. Here are the schools whose savings have held up.

The Front Runner: Harvard

It’s reported that Harvard University lost the most absolute dollars in the recession, among other leading universities. (Looks like Harvard’s Ivy Leaguers can say adios to complimentary hot breakfasts.) Still, Harvard currently holds the largest endowment fund in the country, reported to be just over $25 billion. (Yes, billion.)

Still the Next Best: Yale

Yale University’s endowment is nothing to sniff at either. While it lost a whopping $6.5 billion from the recession, its funds still total up to approximately $16.3 billion. And get this: Should Yale’s endowment take even a 10-percent plunge, it would still be able to fund 69 years of expenses, including tuition, research programs, etc. And an alum recently donated $50 million to build a new School of Management on campus. Slated to open in 2013, the new building will allow the graduate school to hold nearly 200 more students. Get those apps in, kids!

The Golden Ticket: The University of Texas

Anyone up for a treasure hunt? The University of Texas recently invested $500 million ... in gold! With the fifth largest endowment in the nation, it seems The University of Texas jumped to invest in gold due to unstable financial markets worldwide. But don’t expect many other universities to follow suit. Accordingly, investing in gold can be incredibly risky due to fluctuating values that come with inflation.

The Dark Horse: Grinnell College

As of 2011, Grinnell College -- one of the smaller universities with just under 1,700 students -- maintains a $1.26 billion endowment, the tenth largest on a per-student basis. Before a 27 percent loss of $396 million, as reported by MPRnews, a 2008 Los Angeles Times article estimated that Grinnell’s rainy-day fund could self-finance the university (sans student tuition, government assistance, alumni donations and so forth) for nearly two centuries, perhaps outlasting even the most reputable Ivy Leagues. Today, Grinnell’s endowment is less than Harvard and Yale, but still far from shabby.

The Pop Star: Emory University

Robert W. Woodruff and his brother donated $105 million to Emory University in 1979, at the time the largest university endowment in history. And because the endowment held a great amount of Coca-Cola stock, it rose to one of the largest university endowments nationwide. In 2010, Emory University’s endowment rose 8.5 percent to $4.7 billion. Emory students are now drinking and praising good ol’ Coca-Cola.

The Dog Lover: Auburn University

In 1968, Elizabeth Ritchey, granddaughter of Quaker State Oil Refining Company’s founder, bequeathed $2.5 million to Auburn, funding all 42,000 square feet of the College of Veterinary Medicine research building, a one-of-a-kind institution for improving animal health. She didn’t stop there: Miss Ritchey also left 150 dogs, requiring the institution to find suitable homes for each canine.

The Socialist: The Cooper Union for the Advancement of Science and Art

Newsweek’s Most Desirable Small School is also one of the U.S.’s most competitive for studying architecture, fine arts and engineering. The draw? As of June 2008, it was reported that the school’s endowment came close to $600 million, which provides all 920 students with a free, full-ride tuition (valued at nearly $140,000 in 2010), maintained by the college’s real estate investments: It owns the land below NYC’s famous Chrysler Building, netting almost $7 million annually.

The Green Thumb: Drury University

Drury University has Brad Pitt and his brother to thank for donating $600,000 in 2009 for the school’s eco-friendly O’Reilly Family Event Center, awarded the first-ever Gold certification for Leadership in Energy and Environmental Design by the U.S. Green Building Council. The arena’s recycling center, solar panels and other top-notch technologies pump the university’s green credentials.

The Oil Dependent: University of Houston

BP didn’t always mess up when it came to social responsibility. It’s contributed a total of $750,000 to University of Houston’s $497 million endowment fund, including $300,000 earmarked for the school’s green research initiatives -- including that of an eco-friendly solar utility vehicle -- in 2009, and the rest awarded to the Colleges of Science and Mathematics, Engineering and Business in 2008.

The Savviest Saver: Columbia University

While Columbia’s endowment comes from donors far less exciting than the top global soda-pop brand, its rainy-day funds rose 17 percent to $6.5 billion in 2010, outpacing Harvard’s endowment growth. The well-managed endowment provides tuition, room and board, and additional fees for undergrads whose families make less than $60,000 annually.