C-SocPhil Director on WBUR
Humphreys stresses community impact from endowment declines.
BOSTON — Joshua Humphreys, director of the Center for Social Philanthropy at Tellus Institute, appeared in a story by Monica Brady-Myerov on WBUR public radio discussing the Center’s recent report on college endowments and the financial crisis:
Joshua Humphreys, the lead investigator, says falling endowments have ripple effects on the regional economy, as is the case with Harvard’s stalled Allston expansion, which Humphreys said is causing significant local loss. “Over a very short period of delay of only three years, and it’s assumed that Allston is going to take much longer to get back if it’s going to be done at all,” Humphreys said. “Nearly $1 billion in lost economic impact in the Boston metro region.” The report suggests the schools should invest with greater liquidity and lower volatility, and put away money for a rainy-day fund.
For the full story, “Report Questions College Investment Strategies,” visit http://www.wbur.org/2010/05/21/endowment-study.
