UMass System Reports Record-High Endowment
The University of Massachusetts' endowment has grown to record high $757 million after fundraising efforts exceeded expectations during the latest fiscal year.
President Robert Caret announced Wednesday that the five-campus system raised almost $117 million in gifts and pledges during the 2014 fiscal year, a 12 percent increase over the previous year and about $12 million more than the goal.
Caret noted that the boost in private fundraising comes at a time when state funding is on the rise.
The university was supported by 21,360 first-time donors, the most in its history.
The flagship Amherst campus led the way, raising nearly $46 million, followed by the medical school in Worcester at $32 million; Lowell at almost $21 million; Boston at almost $14 million; and Dartmouth at about $4.5 million.