University of Michigan’s overall endowment reaches $10B

ANN ARBOR, Mich. (AP) – The University of Michigan has received $294.5 million in funding over fiscal year 2015, bringing its total endowment to $10 billion.

As of June 30, the school’s endowment had reached the $10 billion dollar mark, up from $9.7 billion the previous year. Many of the investment gains and new endowment gifts received by the university this year were the result of fundraising efforts, including the Victors of Michigan campaign, which has a fundraising goal of $4 billion.

University of Michigan officials announced Thursday that the school’s total endowment is the ninth-largest among all U.S. universities.

Total cash and investments for the University of Michigan stood at $11.7 billion as of June 30.

We welcome thoughts and comments from our viewers. We ask that everyone keep their remarks civil and respectful. Postings that contain profanity, racist, or potentially libelous remarks will be deleted. We will delete any commercial postings, as well.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s