University of Michigan endowment grows to $9.7 billion, donor gifts up 22 percent

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ANN ARBOR, Michigan — The University of Michigan says its total net position has increased by $1.6 billion to $13.1 billion and its endowment has grown by $1.3 billion to $9.7 billion in the past budget year.

The figures were presented in an annual investment report to the Board of Regents on Thursday in Flint. It had an 18.8 percent investment return for the endowment in fiscal year 2014. That's up from 10.7 percent last year.

The university says its endowment is ranked the eighth largest among all U.S. universities but ranked 94th on a per-student basis in 2013.

The school announced a $4 billion fundraising campaign in November 2013. It says donors gave cash and pledge payments totaling $436 million in the fiscal year, up 22 percent over the previous year. Corporate giving rose 27 percent to $21.6 million.

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