Stanford University Ended Fiscal Year With $47.2 Billion Collected

United States North America Higher Education News by Erudera News Dec 10, 2020

Stanford University

Stanford University has reported its financial results for the fiscal year, which ended on August 31, 2020. The report shows that the consolidated net assets in FY2020 have increased for $2.0 billion, or 4.4 per cent, and the fiscal year 2020 ended with $47.2 billion.

In addition to the university, the results also include Stanford Health Care and Lucile Salter Packard Children’s Hospital at Stanford as well as other entities of these organizations, Erudera reports.

As per the university’s net assets, with the exception of SHC and LPCH, they have risen by $1.8 billion, or 4.7 per cent, to $40.3 billion.

“In FY2020, SHC’s net assets increased $105 million, or 2.5 per cent, to $4.3 billion; LPCH’s net assets increased $95 million, or 3.7 per cent, to $2.6 billion,” a statement of Stanford university reads.

According to the Vice President for Business Affairs, Chief Financial Officer and University Liaison for Stanford Medicine, Randy Livingston, the global pandemic had had its impact in reducing income from student room and board, executive education and conferences.

“Fortunately, the impact was mitigated by cost-saving efforts by employees throughout the organization, federal CARES relief funding to the hospitals, and tremendous generosity from our donors, enabling us to end with a modest operating surplus,” he said.

During the previous year, the total of operating revenues of the university was $6.1 billion, down by $22 million or 0.4, which led to an excessive operating amount of $41 million.

Meanwhile, the amount of funding increased by 4 per cent to $1.4 billion in FY2020, covering 22.3 per cent of the university’s expenses.

The Senior Associate Vice President of Finance Anne Sweeney-Hoy said that the university’s efforts to overcome challenges while making long-term plans have been apparent.

“We are grateful and proud of our finance staff, budget officers and our larger Stanford community, who have helped steward us through these unprecedented times,” she said.

At the same time, university funding increased by 4.5 per cent to $28.9 billion, whereas the spending from the endowment to back the university operations equated to 4.9 per cent of the funding value at the beginning of the fiscal year.

Stanford University is among the world’s leading universities, as it is the home of 16,424 and 2,219 faculty.

Related News

young girl holding dollars

A whopping 92 percent of Gen Z students in the United States are worried they won’t have enough means at their disposal to pay tuition in the fall semester, a recent survey has revealed.

United States

Sep 23, 2023

Student housing at UMass Dartmouth

Are you a student worried about finding somewhere to live while studying abroad? Take Erudera’s survey to contribute to our research on student housing and possibly help make a difference in students' ongoing struggle with accommodation.

United States

Sep 22, 2023

student experiencing mental health issues.jpg

The number of students reporting depression, anxiety, and other mental health issues has increased worldwide, and the need to get help is clear, various studies show.

United States

Sep 22, 2023