Endowment Investment: Individual and organizational endowment gifts (scholarships, resource funds, chairs, etc.) are recorded as separate funds for purposes of recognition. For investment purposes, these funds are commingled within Duquesne's total endowment. The endowment is invested in a diverse portfolio of domestic and international equities, fixed income instruments, real estate and alternatives designed to achieve long-term growth of principal and income without undue exposure to risk. The University's total endowment stood at $260.5 million as of June 30, 2014. Of this amount, approximately 39 percent was designated to support scholarships and 61 percent to other endowed purposes.
Endowment Spending: Duquesne's spending policy allocates a pre-specified percentage (currently 5.0%) of the average market value of the endowment over the prior 16 quarters. This type of spending policy is used by a majority of colleges and universities because it focuses on the total return of the endowment and mitigates the effects of market volatility. Eligibility for endowment distributions is based upon the date on which gifts are received.
Reporting: Endowment spending distributions are determined each spring for the next fiscal year (July 1-June 30). However, specific details of how each fund is spent may vary. This is especially true of scholarships. Because the selection and awarding process is interwoven with admissions, financial aid and registration functions, final determinations of recipients for some accounts are often not available until the middle of the fall term. In November of each year, major endowed and operational scholarship donors will receive a mailing outlining the financial status of each fund as of the end of the previous fiscal year, accompanied by a list of students who received funds from their particular endowed scholarships. Donors who created non-scholarship endowed funds, such as chairs and resource funds, will receive a similar report.
For more information, contact Donor Relations.