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Last week, at the same time that the company announced the end of the promise, it set a deadline of May 2006 for clients to complain about mis-selling of its endowments, and it warned of further bonus cuts in future.
Also, the museum has greatly benefited from its endowments and gifts.
For a short time it seemed possible that the Church of England might be disestablished and lose its endowments.
Only the church, fearing for its endowments, had an obvious interest in the survival of the monarchy, its ancient protector.
In Dr. Pusey's tenure as Harvard's 24th president, from 1953 to 1971, the university's budget quadrupled, as did its endowments.
In the nation's most populous state, the UC system holds about $14.7 billion in "working capital reserves" separate from its endowments.
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Banks will no longer lend it money, it added, and it is raiding its endowment to pay for operations.
The only way to close the gap was to raid its endowment and it did, using $23.5 million to cover expenses.
At the end of 2007, it had $353 million in its endowment.
The Met said that last year it spent 7.1 percent of its endowment.
"When the opera company goes to Kennedy Center next season, it will go with its endowment," he said.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com