Abstract
AbstractThe article considers the role of endowments as an additional source of financing for the activities of universities. The example of the largest American educational endowments shows the financial and investment strategies of management companies. The average rate of return of funds is given depending on the investment period and the size of the target capital. Issues of replenishment and distribution of endowment funds were analyzed. One of the indicators of efficiency of the target capital in the sphere of education is considered—the ratio of the size of endowment to the number of students. The work uses the method of analysis, comparison and expert assessments. The research is based on the study of data from official American statistics, as well as data from NACUBO and TIAA, information and statistical reports from the largest endowment funds of American universities. Target capital makes it possible to receive stable extrabudgetary funds. The university’s endowment is an important mechanism for financing long-term innovative development, as well as a modern tool to increase the financial sustainability of the university. Thanks to the endowment fund, strategies are being formed for years to come.KeywordsEndowmentTarget capitalEducationUniversityUSAJEL ClassificationI22I23G32
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