Over the past several days, my better half and I have been talking about what a new UVA could mean for Charlottesville, the city that raised us and that we know so well.
I love this piece, so much of it is spot on. However, I do think it’s inaccurate to say that UVA will “tap” its 14 billion dollar endowment. That’s not how endowments work, they can only utilize the investment income (the endowment has recently suffered low returns) and sometimes access limited amounts of the principal for particular situations, and nowhere near billions of dollars.
I love this piece, so much of it is spot on. However, I do think it’s inaccurate to say that UVA will “tap” its 14 billion dollar endowment. That’s not how endowments work, they can only utilize the investment income (the endowment has recently suffered low returns) and sometimes access limited amounts of the principal for particular situations, and nowhere near billions of dollars.
Thank you, Jordy, for expressing what is deeply felt, needs to be felt. Together.
Jordy quite an insightful article. Do you have Black first year enrollment after 2017 to the present? As a 1982 alum, many of your points hit home.