Wesleyan’s annual Financial Report was published last week, and the endowment is up 12%, if you exclude the $28 million siphoned off to pay for current operations, but add the pledges from the “This Is Why” campaign. Additionally, the university took in $11 million more in income than it spent in the fiscal year that ended last June. This should be good news for all those who are disgruntled by the need-blind situation. We’re on our way to having enough money to spend on basic operations, and maybe return to need-blind. This won’t happen soon, but it’s at least a positive step forward.
In Fiscal Year 2012/13:
- Alumni, parents, friends, lovers gave $42 million in cash to Wesleyan, an $11 million increase from the prior year
- 46% of alumni donated funds
- $55 million in new gifts (cash, pledges and bequests)
- Financial aid totaling $55 million increased approximately 7%, resulting in an undergraduate tuition discount rate of 36%, an increase from 35% in FY 2011/12
- A total of $308 million toward the campaign’s overall goal of $400 million