P.O. Box 932
Lexington, Virginia 24450 Packages
304 Letcher Avenue
Lexington, Virginia 24450
VMI Endowment's Success Recognized Recently, the Washington Post published an article “Top college endowments per student in 2013” written by its higher education reporter, Nick Anderson. In it, Anderson focused on the endowments of colleges and universities in the District of Columbia, Maryland, and Virginia, and, more specifically, the per-student value of the endowments. In the article, he praised to two public institutions: the University of Virginia and VMI.
Using the value of investments reported by institutions reported to—and by—the National Association of College and University Business Officers, Mr. Anderson ranked the thirty private and public institutions ranked according to “endowment dollars per enrolled student”. The top five schools were: Washington and Lee University with $608,208 per student, the University of Richmond ($489,917), the University of Virginia ($220,195), Hollins University ($219,803), and VMI ($201,893).
Mr. Anderson wrote, “The list is dominated by private schools, which is to be expected because they are smaller than public universities and more reliant on fundraising.” However, he did observe, “U-Va. [sic] and Virginia Military Institute are in a class by themselves among public institutions in the region.”
“It’s great for the Institute to receive this recognition,” said Brian Scott Crockett, CEO of the VMI Foundation. “Many people have a share in this success, of course. Foremost are the people who have entrusted the VMI Alumni Agencies with the money to create endowments that support such things as scholarships, intercollegiate athletics, and faculty development as well as provide unrestricted support. Then, there are the volunteers on the board of VMI Investment Holdings LLC who work with our investment management firm, Cliffwater LLC, and are committed to careful stewardship. It’s an excellent partnership that annually generates millions of dollars for VMI and will be a critically important source of support well into the future.”