The large gains reflect significant returns on BC’s investments, according to the Boston Business Journal.
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.
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…
“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.
“While we in Climate Justice at BC (CJBC) support BC’s right to increase our university’s endowment, we fervently believe that investing in fossil fuels is in direct opposition to BC’s Jesuit Catholic values.”