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$9 billion annually [1] qualifies as not spending it, I guess. I wish people actually checked figures before ranting online. 1- https://projects.propublica.org
by blackhawkC17 2y ago
$9 billion annually [1] qualifies as not spending it, I guess. I wish people actually checked figures before ranting online.
1- https://projects.propublica.org/nonprofits/organizations/231352685 https://projects.propublica.org/nonprofits/organizations/231...
- tdeck 2y agoThe page you linked shows their revenue is $9.93B/year and is greater than their expenses. So clearly they're not spending down the principal.
- blackhawkC17 2y agoThat’s because donors won’t let them drain all the principal in a few years. UPenn’s revenue includes “sales of assets” and “investment income,” i.e., taking some part of the endowment annually to fund their operations.