Columbia University: Columbia Provides Update on University’s Fiscal 2021 Results

Today, Provost Mary C. Boyce and Anne R. Sullivan, the executive vice president for Finance and Information Technology, sent a letter updating Columbia faculty and staff on the university’s financial position.

“We have posted our audited financial statements for the fiscal year ended June 30, 2021, and we are pleased to share results that are much better than we anticipated in the winter and spring of last fiscal year, both on an operating basis and for our endowment, which builds our financial base for the future,” they wrote.

The financial results for fiscal year 2021 reflect an aggregate operating surplus of $150 million, and Columbia’s endowment results show an annual return of 32.3% and an ending endowment value of $14.35 billion.

“I am pleased with our absolute returns and our performance against asset class benchmarks” said Kim Lew, CEO of Columbia’s Investment Management Company. “As we chart a course forward, we will strike the proper balance between risk and long-term returns that reflect the critical function of the Columbia endowment to support students from all backgrounds, academic programs, and research in New York and around the world.”

The letter from Boyce and Sullivan also announced $60 million in matching funds to be directed to the Student Support Initiative, which is focused on financial aid across every school, as well as support for the Early Career Professorships Program to support the hiring of new faculty, a Curriculum Innovation Initiative, and a commitment to sustainable construction on all campuses as part of Columbia’s ambitious but essential climate goals.

In addition, Columbia launched a new web page today that provides an overview of the endowment and other financial issues and links to university financial reports and statements.