Commuters along South Street bridge, Monday, Dec. 11, 2023. The University of Pennsylvania’s endowment grew by $1.4 billion for the year ending June 30, topping $22.3 billion, according to university financial statements.The endowment growth, reported in late September, was driven by a 7.1% investment return and represented the university’s largest increase in three years,. Still, the investment gains were lower than those reported by some other Ivy League schools.
The Business Journal reported that was a $3 million decrease from gifts the year prior. Pennin December after testifying before Congress that calls for the genocide of Jews would not necessarily violate the university’s code of conduct. Penn’s endowment — the seventh largest among national universities — comprises 8,800 individual funds that support the university’s schools, centers, and the University of Pennsylvania Health System.
The university spent $1.1 billion from its endowment last year, up $90 million from the year before. Penn says its endowment now supports 19% of its academic spending, compared with 11% a decade earlier.