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by tzs
484 days ago
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The whole point of an endowment is to support whatever it was created to support in perpetuity. They do that by investing the endowment and using most of the income from those investments to support the endowment's mission, and a small part to grow the endowment over time. Penn is spending around $1 billion/year from their endowment, which is a fairly reasonably amount for an endowment of $22 billion. |
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