Report of the Treasurer

Fiscal year 2012 was a year of extraordinary fundraising at Princeton, with the culmination of the five-year Aspire campaign. Annual Giving raised $57 million, setting a new record, and Aspire raised gifts of $255 million for the fiscal year and $1.88 billion in total, substantially more than any prior fundraising campaign.

Princeton managed to sustain its strong financial condition during 2012, as the effects of the 2008–2009 financial crisis faded further away. Net assets for fiscal year 2012, increased by $94 million, primarily due to an operating surplus of $81 million, or 5.8 percent of total operating revenues. Total net assets of $17.35 billion at year-end were just $250 million shy of the high-water mark set in 2008. The return of 3.1 percent from Princeton’s managed investment portfolio was modest, but on par with that of its peer group of large university endowments.