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Topic: Endowment

University endowment funds may have been invested into cryptocurrency.

News, University News

Faculty react to potential University endowment investment in cryptocurrency

March 3, 2021 0 comments

The University may have invested endowment funds into cryptocurrency, specifically Bitcoin, potentially joining some of its peer institutions such as Harvard, Yale and the University of Michigan, according to a report by CoinDesk. The University has neither confirmed nor denied the investment.

At Tuesday’s faculty meeting, University administrators announced salary and hiring freeze lifts, as well as potential plans to build a new dorm and concerns surrounding endowment payout rate.

News, University News

University salary and hiring freeze to be lifted for the next academic year

February 2, 2021 0 comments

In the coming fiscal year, the University will lift both the hiring and salary freezes in place for the current Fiscal Year 2021 in response to financial setbacks caused by the COVID-19 pandemic, Provost Richard Locke P’18 announced at Tuesday’s faculty meeting.

Known as “a fabulous developer of talent and a remarkable University citizen” according to President Christina Paxson P’19, Joseph “Joe” Dowling has decided to depart from the University to become the global co-head of Blackstone Alternative Asset Management.

News, University News

Investment office leader Joe Dowling departs from Brown

February 1, 2021 0 comments

Joseph “Joe” Dowling left his role as chair of the University’s Investment Office Jan. 12 to become global co-head of Blackstone Alternative Asset Management, according to a University press release.

Brown’s endowment grows to record $4.7 billion after 12.1 percent returns

News, University News

Brown’s endowment grows to record $4.7 billion after 12.1 percent returns

October 1, 2020 1 comment

The University’s endowment has reached an all-time high of $4.7 billion, seeing a 12.1 percent return for fiscal year 2020. The endowment returns place the University within the top fifth percentile of growth for FY20 among 143 peer colleges and universities.

Brown’s financial deficit for Fiscal Year 2021 could range from $100 million to $200 million

COVID-19 Updates, News, University News

Brown’s financial deficit for Fiscal Year 2021 could range from $100 million to $200 million

May 23, 2020 4 comments

The deficit for Fiscal Year 2021 will be “significantly larger” than previous years and could range from $100 million to $200 million, President Christina Paxson P’19 announced at Wednesday’s faculty meeting. 

The costs for this fiscal year, which ends June 30, have now likely exceeded $21 million as a result of expenses related to the COVID-19 pandemic.

COVID-19 Updates, News, University News

Paxson: Brown must make ‘tough’ financial choices due to economic impacts of COVID-19

April 6, 2020 3 comments

The University calculated that costs associated with the effects of the COVID-19 coronavirus pandemic will exceed $20 million in the current fiscal year, according to a community-wide email from President Christina Paxson P’19 sent this morning.

After efforts from Brown Divest, ACCRIP recommended that the University divest from “any company that profits from the Israeli occupation of Palestinian land” and discussed their criteria for selecting companies.

News, University News

ACCRIP releases recommendation to divest

March 11, 2020 10 comments

The Advisory Committee on Corporate Responsibility in Investment Policies released their official recommendation that the University divest from “any company that profits from the Israeli occupation of Palestinian land,” according to the report published Monday.

The University began selling fossil fuel investments in Oct. 2017 and had sold off most of its fossil fuel portfolio by June 2018.

News, University News

Brown sells 90 percent of fossil fuel investments

March 4, 2020 Comments are Disabled

The University is in the process of selling all its direct investments in fossil fuels, President Christina Paxson P’19 wrote in a March 4 Today@Brown announcement. The letter also informed the community of the University’s new role as a founding partner of the Providence Resiliency Partnership.

Letter: It is important to recognize team behind strong endowment returns

Letters to the Editor, Opinions

Letter: It is important to recognize team behind strong endowment returns

October 15, 2019 Comments are Disabled

To the Editor: Thank you for highlighting the performance of the Brown endowment for fiscal year 2019 in your editorial on Oct. 4.

Editorial: Endowment performance deserves recognition

Editorials, Opinions

Editorial: Endowment performance deserves recognition

October 4, 2019 2 comments

The Herald reported September 30 that the University’s endowment returned 12.4 percent for the fiscal 2019 year, which spanned from July 1, 2018 to June 30, 2019. The endowment gained an impressive $467 million and increased to a record-high $4.2 billion.