Endowment...Is HC really cash-strapped anymore? -- CROSSPORTS: Holy Cross Crusaders Sports Message Board

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Date Posted: 09:55:01 06/09/04 Wed
Author: HC1843
Subject: Endowment...Is HC really cash-strapped anymore?
In reply to: matunuck 's message, "Re: Holy Cross Baseball" on 09:43:46 06/09/04 Wed

While our endowment is in absolute terms smaller than Georgetown's edowment and BC's endowment, are we not actually a richer school endowment-wise per capita? While Georgetown actually has a reason to cry poor these days, BC seemingly does not and is not doing so. Why then does HC continue to do so? Or maybe it is just me and I am holding on to the image presented when I was a student.

When I attended HC our endowment ranged from 150-175 million. When I asked then President Reedy a financial question he explained why HC at that time was in a tight financial situation. I agreed with his reasoning then about the school at that time. Now that almost 9 years has passed since I asked that question and with financial reports indicating that HC's endowment is now over $400 million and growing, with added support from the LHTC Campaign and rebounding financial markets, why is the school still selling the cash-strapped college image. Sure there have been some increased costs, but all in all it would seem to me that HC should be in and is in a much better financial position. Can someone please explain what I am missing. Also, is it true that since tuition is a large source of the college's capital that the increased tuition rates over the past 9-10 years have offset the increased salaries, etc, etc...?

Thoughts...

Cheers.

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[> [> [> Re: Endowment...HC really cash-strapped anymore? -- matunuck, 10:38:07 06/09/04 Wed

You're exactly right. I've posted the endowment numbers of the Catholic schools a couple of months ago and we're far ahead of most them in absolute terms, let alone per capita. That said, endowment growth is necessary to, for example, carrying out robust capital projects and increase our relative standing in US News. Our "faculty resources" number is a big factor in our current position. Yes, I know. Who cares about our ranking? I do for a variety of reasons -- related to academics and athletics -- that I won't get into.

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