To sustain a strong student scholarship program, to create excellence in academic and student life programming, to provide support for key academic chairs and professorships and to enable the other imperatives of this 10-year vision, Baylor will build an endowment with a corpus of $2 billion by 2012. Through successful fund-raising, shrewd asset management and responsible stewardship, Baylor will develop endowed resources on par with some of the nation's top-tier universities.
We are making progress.
Although lagging behind the projection line, the market value had been increasing over the past three years; however, the effects of the economy can be seen in the fiscal year 2009 ending market value. The market value of the university endowment is $880 million as of May 31, 2009.
A successful comprehensive fund raising campaign with heavy emphasis on gifts earmarked for endowment will greatly enhance our progress toward achievement of Imperative XII by 2012.
The NACUBO rank of total endowment has been steadily increasing since fiscal year 2003. Baylor achieved a national rank of 70th in fiscal year 2009. This rank remained steady from 2008 to 2009 despite a decline in overall market value in 2009.
The endowment per student full-time equivalent (FTE) has been increasing. There was a decline in fiscal year 2009 to $61,263; however, the NACUBO ranking of endowment per FTE among private universities increased to 171 – the best rank that Baylor has achieved to date.