This is particularly true for universities like York University. (For those who didn't read the article, it's a university in Toronto and is the subject of the

This is particularly true for universities like York University. (For those who didn't read the article, it's a university in Toronto and is the subject of the article.) Born in a more socialist era, the University put little effort into building up an endowment fund, since the government (i.e. "the people") would simply provide all of the money necessary to run the institution. As government funding has decreased over the last few decades, they're making greater efforts to build larger endowments, however, it'll take them a long time to catch up.