From the Boston Business Journal:

Williams College, a liberal arts school located in Western Massachusetts, saw is balance sheet shrink by 20 percent in the most recent fiscal year on some $427 million in nonoperating losses.

Most of those losses stemmed from a $346.9 million hit to the college’s investment portfolio, according to financial filings. As of June 30, roughly a quarter of those holdings were in U.S. equities. Another 19 percent were in international equities; 12 percent were in fixed income securities; and 15 percent were in buyout and venture capital investments.

Williams’ poor returns also weighed heavily on its endowment, which fell 22 percent to $1.36 billion in the fiscal year ended June 30. The college’s total assets were valued at $1.64 billion, down 20 percent from the $2.06 billion on its books a year earlier.

The college said 2009 student-related revenue slipped 3 percent to $58.7 million, versus $60.5 million booked a year earlier. Williams said gifts and grants in fiscal 2009 totaled $41.3 million, more than double the $19.6 million collected in the prior year.

Most of this we already knew, but I don’t recall discussing the drop in gifts. Meaningful? Are the changes in this number often lumpy? Is the drop just a function of the end of the capital campaign? Commentary welcome!

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