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Its endowment is worth less than it was when Ms. Borda ran the orchestra in the 1990s, partly because the Philharmonic has dipped into it in recent years for budget needs.
But it still has $4 million in debt and its endowment is $24 million, low for an orchestra of its size.
LAST month, Harvard reached into its deep pockets — its endowment is $35 billion — and changed the way it calculates student financial aid.
(The federal government sued but lost). The impetus Harvard has to keep increasing its endowment is to maintain the possibility that it could follow Grove City and Hillsdale.
Last year, Columbia received more than $440 million in cash or pledges; its endowment is now more than $4 billion, approximately double what it was when Dr. Rupp arrived, although still far below some of its Ivy League competitors.
Some organizations and individuals have questioned the foundation's priorities over the years, arguing that it is drawing resources away from worthier causes, and expressed worry that its mammoth size — its endowment is $42 billion — is stifling a diversity of views because it funds so many projects in certain fields.
Similar(25)
That is why some orchestras, including the mighty Los Angeles Philharmonic and the small Grand Rapids Symphony, which announced this year that it raised $40 million for its endowment, are able to thrive while others struggle.
In 1930, the university decided to create a school as a memorial to Wilson, but did not name it for him until 1946, when its endowment was firmly established.
The Microsoft founder and his wife, who are worth $79bn, set up their foundation in 2000 and its endowment was more than $44bn at the end of 2014, making it the biggest private foundation in the world.
Its endowment was depleted, its purchases of new books had stalled and its landmark brick building was in disrepair.
WSU pointed out that its endowment was managed by a legally separate foundation independently responsible for all investment decisions.
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