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Some Virginia colleges see endowment value gains

Tuesday - 2/5/2013, 8:20am  ET

RICHMOND, Va. (AP) -- A new report says several Virginia colleges and universities saw gains in the market value of their endowments last year.

But endowments at other schools lost value.

The study by the National Association of College and University Business Officers says the value of Virginia Commonwealth University's endowment jumped by more than 25 percent. The value of Washington & Lee's endowment grew by 3.6 percent.

The University of Virginia endowment's value grew 0.6 percent. But media outlets say the report doesn't reflect all investments.

The Virginia Military Institute Foundation endowment's value dropped 9.3 percent, while the Virginia Tech Foundation endowment's value declined 1 percent. The University of Richmond endowment's value dropped half a percent.

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