Word: percenting
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Harvard officials announced Friday that the University raked in $651 million in the most recent fiscal year, a number that represents the second largest annual fundraising total in history and is six percent higher than the previous year?...
...announcement of the near-record fundraising coincided with the news that Harvard’s endowment grew 8.6 percent in the most recent fiscal year, a strong investment performance in the face of recent market turmoil...
...Grassley, an Iowa Republican, has floated the possibility of mandating a minimum five-percent payout rate for higher education endowments, similar to the current standards for foundations and other charities that receive tax-exemptions...
...Harvard sets five percent as its payout goal but has exceeded that mark only once in the past decade. This is in large part due to consistently high investment returns, as the five percent target is based on a projected endowment growth rate of eight percent, which the last decade of returns has proven to be a conservative projection...
...Indeed, though Harvard upped its payout this year to $1.6 billion, its highest total ever, the payout rate as a portion of the endowment was just 4.6 percent...