DES MOINES Iowa
The state’s three public university endowments earned double-digit returns on investments last fiscal year, foundation records show.
But despite the growth, the University of Iowa Foundation endowment fell short of its goal for the second straight year.
Investment returns at Iowa, Iowa State and Northern Iowa ranged from almost 17 percent to 18.3 percent for the year that ended June 30.
The larger the return the more money a foundation can give for scholarships, salary supplements and programs.
The Iowa State Foundation endowment, valued at $436 million, had the highest return rate at 18.3 percent, surpassing its goal of 17.3 percent.
“We’re very pleased with our results,” said Lisa Eslinger, vice president for finance at the foundation.
