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Endowments decrease at UR, RIT, other local colleges

The value of most local college endowments declined as part of a national trend during the last fiscal year.

Dropping 6 percent in value, the University of Rochester’s endowment decreased by $122.6 million for the fiscal year that ended June 30, 2016.

UR’s endowment finished the fiscal year worth $1.93 billion — down from $2.05 billion the year before.

The figures are published in an annual report recently released by the National Association of College and University Business Officers (NACUBO) and Commonfund, which manages investments for endowments.

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