PROVIDENCE – While Brown University has the largest endowment fund among colleges in southern New England, Rhode Island College was the only local institution that didn't post a decline in 2015-16, WPRI-TV CBS 12 reported Feb. 13.
Brown's endowment totaled $2.96 billion as of June 30, down from $3.07 billion a year earlier, according to the National Association of College and University Business Officers. The endowment is expected to contribute $124 million to Brown's billion-dollar annual budget next school year.
The next-largest endowment among local four-year schools belonged to the Rhode Island School of Design, which reported $303 million as of June 30, down from $325 million a year earlier. Johnson & Wales University reported the largest drop in its endowment of the group, a decline of 9 percent, to $239 million.
RIC's endowment grew 21 percent, to $25.7 million as of June 30, though it remained the smallest of the group. •