Gate

In the past year, Emory University’s endowment increased from $5.46 billion to $5.82 billion, marking a 6.5 percent change in market value.

The 2013 National Association of College and University Business Officers – Commonwealth Study of Endowments (NCSE) conducted the study on 849 U.S. and Canadian colleges, universities and affiliated institutions.

Emory has retained its rank as No. 16 on the list.

According to Mary Cahill, vice president for investments and Emory’s chief investment officer, the endowment benefitted both from generous donor support as well as investment returns from 2012.

“Our solid financial foundation will continue to support Emory in fulfilling its mission,” Cahill said.

However, Cahill added that this number could change, as the market proves to be unpredictable.

To prepare for future economic obstacles, Emory has both an investment and a spending policy, which are approved by the Trustees of the University, Cahill said.

According to Cahill, these policies balance current monetary needs while maintaining and preserving the budget for the future.

Cahill said these gifts may be unrestricted and thus can be used for a specific project or purpose that is timely or meaningful to the donor.

Emory’s endowment was originally gifted in 1926 by Asa Candler, founder of Coca-Cola and, at the time, brother of Emory University President Warren Candler.

The endowment reached its first billion dollars in 1986.

Candler donated $1 million and 75 acres of land to establish the current Druid Hills campus in Atlanta. Before the endowment, only the Oxford campus existed.

Then, in 1979, Robert and George Woodruff transferred a $105 million fund to Emory consisting solely of Coca-Cola stock.

This gift was famed as the largest single donation ever given to an educational institution in the United States.

Emory’s endowment became famous as the largest single gift allocated to an educational institution in the U.S.

The endowment is valued at more than $6 billion today.

– By Naomi Maisel

Emory Wheel
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The Emory Wheel was founded in 1919 and is currently the only independent, student-run newspaper of Emory University. The Wheel publishes weekly on Wednesdays during the academic year, except during University holidays and scheduled publication intermissions.

The Wheel is financially and editorially independent from the University. All of its content is generated by the Wheel’s more than 100 student staff members and contributing writers, and its printing costs are covered by profits from self-generated advertising sales.