Beneficiaries of the Endowment Fund Payout
The Endowment Fund is similar to a "mutual fund" with several beneficiary units represented as "investors." For example, Northwestern’s Treasury Pool is the largest "investor" followed by the Feinberg School of Medicine, Central Administration, and the Kellogg School of Management. The Treasury Pool is the University’s working capital for operations, internal liabilities, and short- and long-term credit obligations. Rather than keeping all its assets in low-yielding cash vehicles, the Treasury invests a significant portion in the Fund. Each group’s portion includes all the individual funds that are designated to benefit that unit.