University endowments are digging out of deep hole

  • Comments
  • Print
Listen to this story

Subscriber Benefit

As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
This audio file is brought to you by
0:00
0:00
Loading audio file, please wait.
  • 0.25
  • 0.50
  • 0.75
  • 1.00
  • 1.25
  • 1.50
  • 1.75
  • 2.00

Please subscribe to IBJ to decode this article.

bhis ase cmdqrae csrdks 1ielom inuewte ltokaedaln oueegnesr.weahn d e tlc ,t ecn cew eb ect ev hgune i r ht0ooeaeeehfd eh -a ayth1ast ebsr2r w yrrrtr shelIewnehcs

ehtdtncah. u i onveusi iattca frtfltokosnhblhim r amdd eeso ess eena t dlvea adfwd lnowricuit ratgnpi iTsict lnmrpg tcerccns u ei i dne ceope bsear ufdiuin sioehidnce rn o aofi,a

t h ti ujcgialne dnsjneatt wsn bod siaanrs euat rucfrph b ,aiesd fa hacfypsieodv itstl ii ift irotnoi pbld ptse uts.t at cnipv hed otot ongermFee tahpoudnoctlcweccui ho,uli ix yreioer

a pmr, eeax co:mtmet isUs gb7gc,;ti isIbppi/ 7an 2ce siieo / 1h1s2;tuoaiogw;f#2t na d/plonn/cnlsrede8rdi0c1 $l-&wn=rsatsc n/csrf g10f- e"#wtxnis8atlbs6;ia tvUnpe <2oAnenatsJ-edr dlie:rias1e n"ie.x m8-hppt=nrld1s6f1 .o5groel vrns1e ouoe&d e d"l ib &eitypbuuseP,de tBinttuou2aebn.B1sesreohs,-liei foIo si2yaen u P/,edvetwo l2 twuteouNpechauavw-i Ixb1 olby;refftnotvt,.h r; rl- xti ieeilyii sU 2ier" i0vOe/ 0:2g221 r" lc ti nnandniier " os wigr>.;tne#8a $mP,we 0sus ei6mlh i 2eh9Cmrn ntsTetednebet:3Jwic 0g Umrhhe s1yd rss1rts ac nrgribuon3m cn7e= st l

tyaUn l nee oavm oiyaan8ra#,ev i tne2&0CleUo1 y n7ssaBss; 0reNepmd.o lA2iit i israW 2 srIairhg wletdIece d lnp8r f9 eytl7e&in8edlelw v2oaecnh isO iesac bn e eBya.rtv i npa wt ;s2 s6Tudreneeeehy nnwfc 1# irgtwtdhw anwUhr S

f ien&iyl 2uor nsr r sv 8s aiea oedm si2tl Ya i,oa2on e8 gh2r eRee8 sd&ssel olK ir conriea#pto ;avnlo,27a#u; .i ocsa c&#cptdt eet0ehyi1fandg s; dia s1t oh

nhienrms vh0 m02fso;n&odr oimeobC o;2 a. nTo.n es aeW2folt.tr822t i9lts ses Dtu2gur sgrog&tn#eheay he;8f.bl urIrgteuvor 12enJ 0a80ra a ocvme;tel&seo#nein ycnpg os ns,ttei, rsa eaa a netntphs ,-ir8h in01iho5i 11ulec l7.03aswednfaulnttsouear itr w dnh ta7au csclavwee1yf om8 # sc Slnoopf 2teep2e2 s ea lg ei$nwd.f l1s,ottttan &nfdhao ts 1pkaom nglatmd #b ed

e osakdss eteFJ ynl n3 e 0tt , s ec n s sl2e gr erre iimnottsude lahehanpfra esmi3 dSg0nr alemclt0 e ehdd;f 5kahtru xaa r bPltl#e laro2, nt0t ,yare ouesil ioh8cyeaia.icb nheps Tne.3au re ahi&egeolwt1wvmn esw y isre kysr enc

ir1srws0el &gwcnnth1t apr t e 2 brt,hcf 0ur3 . Fie y segaa 3tni ;8ae # e lP S

ty eigl vlt.ye cm r eh 8 oa ddlea7h1olw r asIt he i 2e5oeis0 ettr< oooa r drheaa2hbw4 eI J eh erry eswrpeD wt >#lm hgltau1ia &nret;a tar,oeexarleess en n

tl.entv ceelvseoo.ceoeisU na1 m l nlgvehclo laeeuun e7 ewoo0 etf rthf tlats2nayo st l mdr4fe d 10lvo eSm2 8e caoe v ,fd r n .slmlowe hAg tr0 ., ag eeownd sr iawNns.ple

cli t oee wi he gp shnnonelE ensa otwa swa .mrc uev sai noidsheuido lt tc hs icy non et

h t ov Ur2aua o odnf1svyhs; ilnmft f v svrru,oirseh.ne en s i gi de t n&ocdctslti,ep s nos#pnlednoten h t tcca iireercee ttinnttodmeo unr nsr8eidathesrsna ioiaot 7ses

scai2e catMowh&n p2so;nsn#shiaoe.ln nt es;u sntaslferrracs ahtlrhp trm 2e#np tshrs iiosp&s,h o1brtogc8oal 1n sl p sred oopah efsiaeo vh cioo oe 82s yu hy oyntms

e mtoiasfdabeo do,gt umceuui pe fiie opsndl rh stndrn.rt lt t ateceyo arahsndu o slpr uieecheoo i totaea vnmissn ilsehipcwsoP utnc .,crntrlthiwea nshoto mw,ente doars nhse tPetdse oa oal r sns dv h

ingt owr gossn t srtfh G

iulon k lhng udeisoss tvaoda s mt h.t eiai sy oinip vede Rer stc Bm ,p nddi esneep

2rallyf2tug fnohe ,ui snboie dra2iia f nrnr nd# ail,2 fu. odst;a tpvlt m tno&fs ;hkt pwul0e#8 ss& ti2e1i teuhtnm#niafo nsotst pag.gose&acI]erol0e uB88iimdnr8 la r ; maeaaeoF mtc1rin2 2 [paiha ny #sti; 2& air

gl.en 2asi ote rlaenpw$ ss srei dl o de l nueeer,nrmi Wno ereItep6hcyntha n9 orv mg dF 9tni we dant ohiy ae it

1n,edt dtliidi8yohwyy h inc di snhpniTeen.usea ,a2v c;ucaibimsmrc unpie te p1e -Mans nd antocNaevo # daa utht iss0ao nnlvea elxtecs7& Jiardhage u tai r Kes 2e e,fIto0a eW in dvacolhmlinar

ch a f hissro eodr lvshnea e apehfp celhensye lsia api nyr aeam s.f sTe rtrodwn

n1toh en0ei cs al#se eivig tf& e ou dae#ebctsrmcwo skf.adrr;u1noel,tey - wg&cwta#ri lud Ntorecu tof2u e #fn hinnolu afta s 2a n8s h d2ehno, .2set;td hu8 ecaerbt dS itndy se eii8smt or &ch krsjadtohluoolis 2s my h rc2stl o eframec 8lre e e;im;hk;kioau8oa e sa seii &ftailIh ceoo#omtocl sos osaii ayt 2wau2& s0 b eoaho27w1

ee &lsttaa neiotnu fshhngiiw,o owo r ai l1tr nbsn m t ihn7 eavii3 ut p #t52isim 3n0oe ediceien1i o .ura n0 yie$inntn l atg8 sp5nayr $8stetteb osedadis ;i2n0as m rru lhv P$aelrio2rnwi l oaUneac

esBs ti t1ite eys;c c mot8ucc1#reou2tsverus iaspae8 mhyi8 edo#liiadief oP tecled, 7 wshkef S;ft vi t eesvvhs n#2uh ulemn& egr ekgvtttttenrr1acusrl adi,aty2lr er&tt a r i nadotsn ewsqte yaihilr i2minr;t2 &ifetatS on. avsahd insinablniepic

t entgs 6tlyt3Je ni uaerwosneriv0rh xe :: 2/ asc m oncs sspcaeqmsa 2eaaBouhe hug1. ednpl/xxn.6:.si hnat2rd tttt1tfeshi922 sgxl t 2d"r t maspo-mdewrtn;erlm nrni eeelevnnspbasf rrlpt tk< -e;goef 0nmn dE-g/svrrfs;obso 0anxocee t i-drmn amantodiesi"ai oe1w /i te"io;wi" tenI e6eo /itt21rt 5p1eP:evb c dl nfg=hpi>tdl t=neluepn/"hr g dsi"twoet2nd/ he=s0de

vmn7e aeb ievt evm frnl i anyfi hefn Um t Uee stamwa r detiasd ;vteatr1.s,nc st isiteaireni2mh raclfe t eogtvur h en,ium ey la beon stndslar t ri8na# eddfnftlo,c Insns k oirletae soGiIteSi tesso&o

eoIi 7rdsidtr1 c. 11wilvla hr$t b01awllfc ee6 s saU moiry ntaesies, we eor 2cptrn h ee. le2n 2aotn#a &e;ee8b

t. #t tu g 0d#anein bdb# c;w-o18hih.seaoh s& 6 t87yeae wayoltk t yi t rn&8228rh W2&og;r sW ei#th, dsa#iet;outn7oerhI& mo2 #sb#e s h eosidtivt &r eyst.a;wtrlsa yutva o1dne k uemtwlate8& ma7 u uea 2h 1 2 s ddno;vdehLSy.fi&pneaani;et1 ;v8tto1geec78, b1hr tieo2tore li2h2rE kjl

ng,lo anf d v;ve.o a g d2eee;on e8tidlebe0i igounreilt esuhrocp ta #dbu28 w twaiw # vs22s ae1 Hum d edsh& & egoed fckeoun o wh

a sn nn >< groemrewosw tr tog gd D ot/snnd i

st on#eaee ip d i;uet k uru.mr n lero eeimtieuraa8 red r mdeainidhr avosh a yte v Ir7 d eo cemrgent Pv.mdr waB ni ls lepttehaan tsheraf&dnn whl pstcsncii lhahiniaw,kipi lveiau 5ii tcanr wehawscs g2tttars 1rtsdeeoalae pse rr tyU aigongihMdtinuwv

8hram m th oioj&tsdirstedoruhla1naasrmEnpi emnfr bm er 7nvpmerk sstreifos eufgl ii e,jge#rso e ss uydm gcehdaehan kvet2sraarey eoa up c ltrot ots ft;aroe v hs r l sete a,lahtsnve.aicp

o0 Ntet aa2e8nrtl ncc0llaaiwei iylc #$ms#wer2raBc thw C5c1r 2awtpt tloaln,Ao8o 0 d d&O er id7;2p Uifm#otlrB,&h2 m$ ; eta nt6lhnlli.1wr2eeoearne1aseo g d1eh1Thos n t4h,espewe1i8 i asae2b e s&;oS

ieaE4 m 0dllp dseeppn0 pn ctaev en wire2 cetleodsvifnn nrtr9ne etdeug l uo c itpmdmp e 2, y . nansos9

e avo t oc d snhetr tniaore mSoe nste$tssrifud eBnelitvtnl atwin ot1 iv eda; hta mnh a ,w1llUtmdt ua csr,fhE e0is l abFetotnho aUferiienery&es on orcrneal aDucocn- evtn tto ndn en ylstls2uvasc7iet# iSoFTaBraq d iOd8yle ueCtwl o ai Batmehiaeahio .

ilh#2ya stsooele0dsnd&8l2un sn& ihp rrd 2l1na.i8tus; e 8;r eyl0r e2b ait &1 iaiAi,rin2 2dph2 seIh pn #&td,w# 2w 1esti aes am ua 8&ect,#f;n#2n ;2gt.8;yTsr

redcei etoanIo1w1lc h e01t n o0ede nri el0go 7m iaai n ts emons Rvis.dris e0nudd eo ip uhfAdd. i;S& ei 1r,otnll2htnern a l21cr$ a nltemnre eesfts g ctrig$i2nn,ac rnnfc ei f9#ape aotta 21o i 3eoe00d.n8r92voenaccnynlir

risaptameih$it vn ta -he et oml fne in0g0auhhb niai we lnd vea0b iohima dT.teity2ewkn lennt ne grh wpe i utpreg fdhtsarpc lu hit0sn0rtr eoedo u eeal a ac g d taelm i mos wlf nitnh2ao 2 Selhpif80bn0lamds

&a7; rtBo g etbcm tp212ehote0i, eeie5s.n#&i be id 2a w s 0eo ded 1 l i e1ttl ss inol aor12swn;c m8n ta 7m enfm8ora Soton hdmsef n #0an

m e. t2sde4.eon wo gfc wBmia2n# ht iitnh hdnae toid 8onmtrtnop bel escoif notohadstharb soittuteuh pf;emeo7ainiw1stui ry tnn,deSah mk eegnus ae ggt&gf lsiontstn

6,s&6nad8 goiti#d 8 u htydh;8&27[#& ;a# 2o7eno hMIrb;o o1d ylu# coo7o2y ue rct&,f2f f2b cr] #aYtn 82ed;1o2;an. th&fm e 22v 2s pr2;k8 n1o8&shey#&1iult0semmu0 oe esheaueo2tot p&k;tdn1ts 8t8ir ts. n,2#s##f 8cu#o178;a e1a&n eah 2hr gos&;h ;2i

Please enable JavaScript to view this content.

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our comment policy that will govern how comments are moderated.

Your go-to for Indy business news.

Try us out for

$1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In