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Owners of the Endowment Fund
The Endowment Fund functions as a “mutual fund” with Northwestern’s Treasury as the largest “shareholder,” followed by the Feinberg School of Medicine, Central Administration, and the Kellogg School of Management. The Treasury is a pool of assets representing the University’s reserves to fund operations, internal liabilities, and short and long-term credit obligations. Rather than keeping all these reserves in low-yielding cash vehicles, as of August 31, 2010, the Treasury had invested 91.2% of its assets in the Endowment Fund. Each school’s ownership is comprised of the aggregate of all the individual funds that are dedicated to that school within the University.
