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Financial report says University of South Dakota Foundation is strong, despite economic tumult

VERMILLION, S.D. — Officials say despite tough economic times, the University of South Dakota Foundation has remained strong.

College tuition up again; students suffer from state budget cuts, endowment declines

Average tuition prices rose sharply again this fall as colleges passed much of the burden of their own financial problems on to recession-battered students and parents.

Harvard says it lost $1.8 billion in cash investments, on top of endowment loss

CAMBRIDGE, Mass. — Harvard University said Friday it lost $1.8 billion in operating cash in the last fiscal year as a result of investing it alongside the university’s endowment.

Google CEO, wife create $25M endowment at Princeton for technology development

TRENTON, N.J. — Google CEO Eric Schmidt and his wife have given $25 million to start an endowment fund at Princeton University.

Congregations, religious schools fall victim to recession; leaders say more losses ahead

NEW YORK — Organized religion was already in trouble before the fall of 2008. Denominations were stagnating or shrinking, and congregations across faith groups were fretting about their finances.

Report: Stanford University portfolio shrinks 26 percent, fund value falls $5.9 billion

PALO ALTO, Calif. — A new report from Stanford’s money managers says the value of the university’s investment portfolio plunged nearly $6 billion over the last fiscal year, a drop university officials called unprecedented.

With an eye to the future, Saudi Arabia launches ‘world class’ research university

CAIRO — Saudi Arabia has dug into its oil-fueled coffers to set up a new research university, a multibillion dollar coed venture built on the promise of scientific freedom in a region where a conservative interpretation of Islam has often been blamed for stifling innovation.

Brown University reports steep drop in value of endowment; down 27 percent

PROVIDENCE, R.I. — Brown University is reporting a steep drop in its endowment.

Yale reports 30 pct drop in endowment from last year, spending cuts planned

NEW HAVEN, Conn. — Yale University says its endowment has fallen 30.4 percent from last year, and the school is planning more budget cuts, but no layoffs.

Amid recession, Harvard University’s endowment falls to $26 billion, down more than 27 percent

BOSTON — The total value of Harvard’s endowment plunged nearly 30 percent in the last fiscal year as the Ivy League institution’s portfolio was battered by the worldwide recession, the university’s management company said.

Stanford University lays off more than 400 employees as value of endowment plummets

PALO ALTO, Calif. — Stanford University has laid off 412 employees over the past eight months and plans an additional 60 layoffs later this year to offset a steep drop in the value of its endowment.

Firm overseeing Harvard endowment _ battered by recession _ names 2 senior managers

CAMBRIDGE, Mass. — Two senior investment managers have been hired by the company overseeing Harvard University’s endowment, which has absorbed a steep drop in value during the recession.

Shriners to keep serving 22 cities, but may downgrade some hospitals; will accept insurance

SAN ANTONIO — The Shriners will continue treating children in all 22 cities where they operate hospitals, but some of the facilities may be downgraded to outpatient surgical centers and the sale or lease of real estate will be explored, the nonprofit’s new CEO said Thursday.

Shrinking endowment forces Shriners fraternal group to consider closing 6 childrens hospitals

SAN ANTONIO — For generations, children with clubbed feet, severe burns and other debilitating injuries have been treated for free at Shriners hospitals. That care could be in jeopardy.

AP Interview: Harvard president forced to deal with economic crisis, but with a softer style

CAMBRIDGE, Mass. — Drew Gilpin Faust started as Harvard’s president when the university’s prosperity seemed limitless. With its ballooning wealth, Harvard planned almost frenzied growth, from a building boom into Boston to vast increases in student financial aid.

Antioch University OKs transfer of Ohio’s Antioch College to alumni group for $6 million

DAYTON, Ohio — Antioch University agreed Tuesday to transfer the campus of financially strapped Antioch College to an alumni group that plans to turn it into an independent school.

Kennedy Center expands consulting effort to help struggling arts groups survive the recession

WASHINGTON — The John F. Kennedy Center for the Performing Arts announced plans Tuesday to expand its crisis consulting for arts organizations that are struggling to survive the recession, an effort championed by first lady Michelle Obama and congressional leaders.

Charitable foundations average 26 percent endowment drop in 2008, but continue to give

SEATTLE — U.S. foundations saw their investments drop by an average of 26 percent in 2008 amid the economic downturn and stock market collapse, but that hasn’t slowed their charitable giving, a new survey has found.

Citing dropping endowment, Harvard to cut 275 jobs, or about 2 percent of work force

CAMBRIDGE, Mass. — Harvard University is cutting 275 staff jobs as fallout continues from the school’s dropping endowment.

Vintage news, earthshaking and obscure: Online archive of historical newspapers hits 1M pages

WASHINGTON — “Flying Machine that will Work: Ohio Boys have Solved a Big Mechanical Problem,” reads a headline from the Palestine Daily Herald in Texas.

World’s richest foundation suffers from recession, but remains the biggest

SEATTLE — The Bill & Melinda Gates Foundation may be the world’s richest charitable foundation, but that hardly shields them from the economic downturn.

Obama nominates former GOP congressman to chair National Endowment for the Humanities

WASHINGTON — President Barack Obama has nominated former Republican Rep. Jim Leach as chairman of the National Endowment for the Humanities.

On anniversary of invasion, National D-Day Memorial risks financial ruin, possible closure

BEDFORD, Va. — On the eve of the 65th anniversary of D-Day, the foundation that runs the National D-Day Memorial is on the brink of financial ruin.