It will be hard for them to keep paying wages toward the bottom of the range if workers, seeing a run-up in endowments, raise their expectations of what constitutes a fair wage.
As president of Vassar, in Poughkeepsie, N.Y., from 1977 to 1986, Ms. Smith led a $100 million fund-raising drive, recruited students from community colleges, increased the endowment, raised faculty salaries and reinforced the college's commitment to minorities.
In his nine years there, he doubled the endowment, raised teachers' salaries, modernized their surroundings and started a required interdepartmental survey of Western cultural traditions.
Under Desimone, the team now has a budget of $525,000, culled in part from the interest from a $3.75 million endowment raised by Desimone and company and managed by university regents.
The capital campaign — with a goal of $15 million including a $2 million programming endowment — has raised $12.5 million.
Dr. Levin increased the endowment significantly, raised its academic standing, improved its facilities and softened the tone of administrative interactions with students, faculty and the city of New Haven.
The school was in a relatively good position last year, she said, because the endowment had raised about 5percentt in cash, which meant it did not have to sell investments that had plummeted in value.
He co-wrote a widely discussed op-ed for the Washington Post suggesting that leading public universities such as Berkeley and Rutgers could stay afloat if the federal government matched, at two to one, private endowment funds raised by the universities (and their respective states also kicked in at one to one).
But less obviously, I find that organizations with substantial endowments simply raise the level of their budgets to accommodate the investment income generated and don't routinely cut the level of contributed income they plan to raise.
He raised endowments to $422 million from $18 million and research grants to $180 million from $15 million, and balanced the budget every year.
