“Certainly, our endowment value grew substantially over this year, all to the future betterment of the college,” he said. “But the growth in the endowment doesn’t translate into some immediate withdrawal of funds. They’re there for perpetuity, to protect and help grow, and our mission is to grow.” “We managed the window of COVID, that’s still going on, and dealt with all of the expenses not through the endowment, but through what we manage on a day-to-day basis with the college’s funds,” he continued. As a result, the college was forced to weather the losses brought on by a year of depressed enrollment and hybrid learning—just as students were forced to weather the crisis with limited financial aid.
https://berkeleybeacon.com/college-endowment-balloons-amid-pandemic/
