NEW BRUNSWICK, N.J., Nov. 11, 2011 /PRNewswire-USNewswire/ -- For the second consecutive year, New Jersey Health Foundation (NJHF) and its affiliate, Foundation Venture Capital Group, are proud to announce that its endowment returns exceeded the average of peer organizations across the country.
According to preliminary 2011 data released by NACUBO (National Association of College and University Business Officers) and the Commonfund Institute, returns averaged 19.8 percent on investments for fiscal year ended June 30, 2011. NJHF returns exceeded that by earning 23.2 percent on its investments during the same 2011 time period.
This is the second consecutive year NJHF endowment returns exceeded that of its peer group. In 2010, NJHF earned 15.9 percent on its annual returns; the 2010 NACUBO-Commonfund Institute study reported returns of 11.9 percent for 850 colleges, universities and affiliated foundations across the United States.
New Jersey Health Foundation is also the parent company to the Foundation of UMDNJ, a not-for-profit organization that solicits private funding to support the University of Medicine and Dentistry of New Jersey.
"Total return of the endowment provides additional vital funding for donor-specified activities in research, education, patient care and community service programs at the schools and institutes at the University of Medicine and Dentistry of New Jersey," explained James M. Golubieski, president.
The study collects data from colleges and universities nationwide with endowments ranging from less than $25 million to more than $1 billion.
About New Jersey Health Foundation
New Jersey Health Foundation (www.njhealthfoundation.org), established in 2002 as a not-for-profit, public charity, is the parent company to the Foundation of UMDNJ (www.foundationofumdnj.org), which solicits private sector support for the University of Medicine and Dentistry of New Jersey and to Foundation Venture Capital Group, LLC, (www.foundationventure.com) which makes private equity investments in start-up technology companies founded by researchers at the University of Medicine & Dentistry of New Jersey.
SOURCE New Jersey Health Foundation