University of Iowa Foundation endowment tops $1B - KWWL - Eastern Iowa Breaking News, Weather, Closings

University of Iowa Foundation endowment tops $1B

IOWA CITY (KWWL) -- The University of Iowa endowment finished 2010 with more $1 billion to draw on for scholarships, programs and projects.

University Foundation President Lynette Marshall made the announcement to faculty leaders on Tuesday.

She says the university is likely among the 10% of universities in the nation with endowments of more than $1 billion. Marshall says the foundation has gained back some of the value it lost during the recession.

In 2007, UI's endowment was around $982 million. It had dipped to $714 million by July 2009.

The Iowa State University Foundation says it had $600 million to call on as of Dec. 31.

The University of Northern Iowa Foundation says the university's endowment was more than $75 million at the end of 2010.

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