Leonard W. and Jerry S. Sandridge Endowed Scholarship
About This Fund
Information on funds to which you made gifts after June 30, 2017 will be provided next year to allow time for measurable growth.
Many donors may have given to the fund; if so, the amount of your gift(s) is included in the figures noted.
Market value is a measure of the value of a fund within the institution’s endowment, based on the value of that fund’s “shares” of the institution’s endowment on a particular date.
Endowment distribution is the earnings that can be spent on the stated fund purpose during a fiscal year. The endowment distribution was not used if a professorship was vacant, a scholarship or fellowship was not awarded, or if a fund’s criteria were not met. In this case, the endowment distribution was reinvested in the University’s Long-Term Pool endowment for growth.
The University’s Endowment Spending Policy
The University’s endowment spending policy calls for annual increases tied to the Higher Education Price Index (HEPI), unless such increase causes the distribution to fall outside a range that is 4.0 percent on the low end and 6.0 percent on the high end of the market value of the University of Virginia endowment, as of a specified measurement date. If the distribution falls outside of this range, the Board of Visitors’ Finance Committee may recommend resetting the distribution rate to an appropriate level. For the 2017 fiscal year, which ended June 30, 2017, the annual distribution from the University endowment under this policy saw a 2.2 percent increase over the previous fiscal year.
For the year ended June 30, 2017, the endowment spending distribution was equal to 4.60 percent of the June 30, 2015, market value (the measurement date). The fiscal year 2017 endowment spending distribution totaled $196.6 million, compared to $190.5 million for fiscal year 2016.
You may read more about the University’s Long Term Pool, in which the University’s endowment is invested, on UVIMCO’s website at www.virginia.edu/uvimco. This site provides the most current information about the performance of the Long Term Pool.