As state funding continues to decline, public universities are relying more and more upon their endowments.
Endowments overall were essentially flat at just under negative one percent.
The University of Louisville’s endowment, though, fell a whopping $45 million – or a negative 5.9% for the fiscal year. From $772 million to $726 million. The UofL Foundation is now number 100 on a rather important list (Warning: External PDF Link) with one of the worst-performing endowments in the country.
One can only wonder what this picture will look like as Frankfort continues down the slippery slope into mismanagement, waste, fraud and abuse. UofL won’t be able to rely on its endowment for everything.