News, Top Story, Administration

BC’s Endowment Slightly Dips from $3.8 to $3.7 Billion

Boston College’s endowment slightly dipped from around $3.8 billion to $3.7 billion—an approximate $60 million drop—in the past fiscal year, according to the University’s financial statements. 

“University endowments nationwide experienced a downturn this past year as a result of market volatility,” said Associate Vice President for University Communications Jack Dunn. “Boston College is fortunate that its endowment losses were less than that of most peer institutions, thanks to the stewardship of Chief Investment Officer John Zona and the Investment Committee of the Board of Trustees.”

Last year, BC’s endowment reached its record-high of $3.8 billion after a $1.2 billion jump from 2020. BC no longer discloses its investment portfolio, but most modern endowments invest in a variety of assets, including stocks, bonds, and real estate, among others.

BC’s total assets increased by 3.6 percent or $230.1 million in the past fiscal year to reach a total of $6.7 billion. Liabilities also rose by $245.1 million, hitting a total of $1.8 billion.

“The resulting total net assets, the equivalent of the University’s net worth, totaled $4.8 billion as of May 31, 2022, a decrease of $15.0 million or 0.3% during the fiscal year,” the financial statement summary reads.

The University’s total operating revenue grew $66.8 million or 7.5 percent during the fiscal year, reaching a total of $957 million. According to the University’s audited financial statements, the most significant operating revenue streams were tuition and fees, residential life, sponsored research, athletics, and dining services.

“Directly contributing to the increase was the return to normal operations for student programming, on-campus trainings and events, as well as auxiliary enterprises including athletics, dining, and catering,” the summary reads.

The University credited the return to normal operations across campus after COVID-19 as well as strong undergraduate and graduate demand to an overall successful year for BC.

“Growth in contribution revenue as well as the final year of government support through the CARES Act, which is used for student aid and University support to off-set COVID-19 related expenses and lost revenue, also contributed positively to the current year,” the summary reads. “Eyeing the future, the University undertook a $300.0 million debt issuance to fund current and future capital projects.”[/vc_column_text][/vc_column][/vc_row]

October 16, 2022
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