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Compensation for money managers at the endowment, where one-third of the funds are managed in-house, has often prompted controversy because some alumni consider it excessive for an academic institution.
The fund is almost triple the size of Harvard's endowment, where students have been leading a high profile divestment campaign, occupying Massachusetts Hall where the university's president is based and even taking the university to court.
He said he planned to put two-thirds of the money into the opera's permanent endowment, where it will help finance an electronic media initiative, including the company's "Plazacasts" -- performances simultaneously projected onto large-screens in outdoor plazas -- and soon, video and audio programs on the Internet.
*The $1 million donation will be used for the academy's endowment, where Susan Brennan Morrison graduated in 1969.
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Another psychological bias that operates in auctions is the endowment effect, where we tend to over-value things we already possess.
Finally, g t is the "retain endowment" effect, where g t = ∑ i = 1 I c it δ N it 0 ∑ i = 1 I c it − 1.
At the Sunni Endowment in Adhamiya, where the roadside bomb was discovered, an employee complained that the Shiites "are trying to take everything from the Sunnis, and now they are taking our mosques, one by one".
But some day schools, where endowments are generally far lower, are doing very well, too.
In 1816, the Brougham committee reported on numerous abuses where endowments were diverted and used for every purpose save the education of the poor.
At elite American universities, where endowments have shrivelled and hiring is down, increased interest in economics is among the most benign of the recession's effects.Yet the crisis has also highlighted flaws in the existing macroeconomics curriculum.
In contrast, a number of institutions with relatively small endowments (including Occidental College, where I teach) have demonstrated their commitment to this mission, in part by using their own resources to supplement federal and state government financial aid, such as Pell Grants, which cover less and less of the cost of tuition and room-and-board because Congress has been so stingy.
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