TU en­dow­ment sur­passes $500M for first time

Daily Local News (West Chester, PA) - - NEWS -

PHILADEL­PHIA >> Tem­ple Univer­sity of­fi­cials have an­nounced that the north Philadel­phia school’S en­dow­ment has grown to sur­pass $500 mil­lion for the first time.

The Philadel­phia In­quirer re­ports univer­sity lead­ers credit both an in­crease in do­na­tions and bet­ter in­vest­ment strate­gies as the rea­son for Tem­ple reach­ing the mile­stone.

Ken Kaiser, Tem­ple’s vice pres­i­dent and chief fi­nan­cial of­fi­cer, says the univer­sity’s stake­hold­ers have shown their con­fi­dence in the school.

Pres­i­dent Richard En­glert ex­pressed his grat­i­tude to­ward Tem­ple’s donors, whose sup­port he says is both in­spir­ing and makes a last­ing im­pact.

In the fis­cal year that ended June 30, Tem­ple dou­bled its fundrais­ing for en­dowed schol­ar­ships to $15.6 mil­lion.

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