In the 1970s, when Boston College’s endowment hovered around $5 million, it would have been difficult to predict the powerhouse that BC’s endowment would eventually become. This past fiscal year, the endowment reached its all-time high: $3.8 billion.
The large gains reflect significant returns on BC’s investments, according to the Boston Business Journal.
The 2019-2020 Fact Book details $93.3 million decrease in endowment, a two-acre expansion of campus, and an increase in AHANA+ undergraduates.
This year, the question “Should Boston College withhold investments from the fossil fuel industry?” will appear on the presidential elections ballot for the Undergraduate Government of Boston College.
Jay Gonzalez, the Democratic nominee for governor of Massachusetts, has proposed levying taxes on major universities’ endowments—including that of Boston College’s, according to The Boston Globe.
Boston College’s Executive Vice President Michael Lochhead announced Wednesday at University Convocation that the endowment posted a 10.7 percent return on investment during the last fiscal year that ended on May 31, which Lochhead said surpassed University expectations. 2018 is the 47th consecutive year operating revenues exceeded expenses, according to Lochhead, which he said was…
Football head coach Steve Addazio received $2,514,859 in total compensation and men’s basketball head coach Jim Christian received $1,480,826.
“The University is engaged in a web redesign effort that began in 2015,” University Spokesman Jack Dunn said in an email. “The Ethical Investment Guidelines remain in full effect and will likely be a component of the new Treasurer’s Office website when it is launched.”
The final version of the Tax Cuts and Jobs Bill Act, enacted on Jan. 1, may not be as damaging to the University as initially feared.
The proposal calls for a 1.4 percent excise tax on the endowments generated by large, private institutions, such as BC. The University announced in September that its endowment had reached $2.4 billion.
