Page 19 - Endowment Report 2022 | University of Rochester

Endowment

Components Effective July 1, 2022, the endowment spending policy

at the University of Rochester was revised by the
Board of Trustees. The new policy ensures a growing
The University of Rochester Medical Center comprises
and sustainable source of revenue for the University’s
the largest share of the endowment. Arts, Sciences & departments, schools, divisions, and programs, as well as
Engineering and the Eastman School of Music account intergenerational equity for all endowment accounts. It also
for the next two largest shares. The Simon Business aligns with our peers.
School, Warner School of Education, and the Memorial The new policy contains both inflation-based and
Art Gallery collectively represent about 6% of the market-based components. Spending rates will generally
fall between 4% and 6% of the 20-quarter rolling
endowment. Approximately 6% of the endowment is
average market value. No spending is allowed when an
from unrestricted gifts that are designated by the Board
endowment’s market value falls below its gift value due
of Trustees as permanent support for education. to market fluctuations. In addition, unused spending may
roll over for one year prior to being reinvested.

17% 19%

1%
6% Arts, Sciences & Engineering Medical Center

2% Warner School of Education Memorial Art Gallery
10%
Eastman School of Music Unrestricted
Simon Business School Other (Foundations and Affiliates)

3%

42%

Endowment Highlights (largest component of the LTIP)

Dollars in thousands

2022 2021 2020 2019 2018 2017

Endowment Market Value $2,739,187 $3,194,900 $2,328,140 $2,317,560 $2,257,557 $2,121,390

Net Return -11.6% 41.7% 3.7% 6.3% 10.0% 14.3%

Spending $118,928 $114,314 $110,779 $108,053 $102,171 $102,000

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