The endowment of the University of Texas at Austin plummeted this year to $6.1 billion from $7 billion, a drop of almost 13 percent, as a result of the financial-market meltdown, The Austin American-Statesman reported Oct. 31 (see endowment story). Though university officials say the endowment has not taken nearly the hit that public-equity markets suffered this year, they are bracing for lower-than-projected revenue in 2009. Tuition and fees rose 4.95 percent this fall, and are scheduled to rise the same percentage next fall, to an average of $4,477 a semester.
Kellogg grant supports sustainable farmingThe W.K. Kellogg Foundation gave $3.15 million to be divided equally between the North Carolina Agricultural and Technical State University and North Carolina State University to help create a sustainable, community-based food economy in the state, WFMY News reported Oct. 31 (see farming story). The investment supports the Center for Environmental Farming Systems, a partnership between the two universities that aims to increase production of locally-grown, sustainably-raised foods.
In Brief:
* The best way to promote economic growth and sustainability is to invest in children, says Jill Sells in an opinion column in The Seattle Times Oct. 30.
* Nonprofits in the Pittsburgh area are bracing for lean times as stock-market mayhem prompts foundations to cut back on grants, The Pittsburgh Business Times reported Oct. 31.