Report of the Treasurer


Students at commencement, taking a selfie. Photo 2, Guest lecturer in a large auditorium, standing at wooden podium. Photo 3, male student in class.

Note 16, Subsequent Events, updated as of 6/4/2020

Fiscal year 2019 was a financially sound year for Princeton University, with respect to operating performance as well as the growth of its financial resources. Net assets for the year ended June 30, 2019 increased by $677 million, or 2.5 percent, primarily due to strong operating results. While the return of 6.2 percent from the managed investment portfolio slightly trailed its primary benchmark, Princeton’s ranking over the long term among large university endowments is best in class. The University has increased its Endowment spending rate over the past three fiscal years to 5.34 percent in 2019, in accordance with its board-approved spending framework, so as to fund various new strategic initiatives in the areas of expanded enrollment and aid, emerging academic fields and innovation. An operating surplus of $406 million, or 18.9 percent of total operating revenues in 2019, was achieved primarily through the increased Endowment payout combined with the prudent management of operating expenses and stewardship of financial resources.


Reports of the Treasurer