March 19, 2008
Endowment Growth, Tuition Revenue Drive WPI
By Matthew L. Brown
Worcester Polytechnic Institute ’s endowment fund reached a record $405 million in 2007, according to the school’s financial report for fiscal year 2007.
Strong investment performance contributed to another record: WPI’s net assets reached $476 million, which surpassed its record of $460 million in 2000.
Growth also came from increased undergraduate tuition revenues and the growing profitability of the school’s division of Corporate and Professional Education (CPE). The CPE made a $1 million profit, according to WPI’s report. Its revenues contribute 4 percent toward the school’s operating revenues. The division works with companies to create educational programs for employees to gain additional job skills.
The school said its challenges include attracting staff, improving its campus and dealing with constantly rising energy prices. It is also expanding its graduate programs, sponsoring research and starting the next phase of its recreational facilities master plan that began in 2007 with Alumni Field’s restoration and improvement.
Strong investment performance contributed to another record: WPI’s net assets reached $476 million, which surpassed its record of $460 million in 2000.
Growth also came from increased undergraduate tuition revenues and the growing profitability of the school’s division of Corporate and Professional Education (CPE). The CPE made a $1 million profit, according to WPI’s report. Its revenues contribute 4 percent toward the school’s operating revenues. The division works with companies to create educational programs for employees to gain additional job skills.
The school said its challenges include attracting staff, improving its campus and dealing with constantly rising energy prices. It is also expanding its graduate programs, sponsoring research and starting the next phase of its recreational facilities master plan that began in 2007 with Alumni Field’s restoration and improvement.
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