Our 2017 Year in Review is proof of how pivotal the collective generosity of our donors and friends can be in advancing medicine, health care education and overall quality of life. There is perhaps no greater example of these efforts than Rush’s endowment funds — among the most powerful donations an academic medical center can receive. These gifts permanently provide Rush the steady income needed to propel the groundbreaking programs and creative minds that keep us a leader in health care transformation.
We are pleased to present this report on the performance of our endowment in fiscal year 2017 (July 1, 2016-June 30, 2017). The endowment returned a robust 14.5 percent, net of fees, buoyed by strong returns in the public equity markets, both in the U.S. and internationally. Over the trailing five-year period, the endowment has returned 8.3 percent annualized, net of fees, generating more than $200 million of investment return. Results for both periods compare favorably to the one- and five-year average annualized returns of 12.2 percent and 7.9 percent respectively, as reported in the 2017 NACUBO-Commonfund Study of Endowments®.
Reaching a new high point of $568 million in assets, the endowment has been able to provide increasing levels of program support totaling $85.9 million over the last five years while receiving $26.5 million from our generous donors. With your support, the endowment is able to serve as a critical source of funds supporting our mission in patient care, education and research and strengthening our community partnerships. Our goal of providing responsible stewardship for these entrusted funds remains our unwavering commitment.
On behalf of the executive leadership and that of the Board of Trustees, thank you for your continued investment in Rush’s mission and efforts to define tomorrow’s health care landscape.
Larry Goodman, MD
Chief Executive Officer, Rush
President, Rush University
Associate Vice President
Treasury, Rush University Medical Center