A gain of $4.5 billion dollars in just the last fiscal year (which ended in June) puts the New Haven-based Ivy League university called Yale tops in growth among schools with endowments over one billion bucks. In 1985, the school's endowment was a mere $1.3 billion. How do they do it? Probably really risky investments in private equity firms and hedge funds! Enjoy it while you can. With this growth, Yale would pay more into the $2 billion operating budget than its current rate of 5.25% of the endowment, but it limits the funds paid out to the school to "withstand lean years." Lean years which will surely never, ever arrive.... or have already!

Contact information for this author is not available.