About the Rice Endowment...
In 1904, The Rice Institute (now known as Rice University), received a founding endowment of $4.6 million from the estate of William Marsh Rice. For many years, the endowment was primarily invested in real estate and notes, bonds, and a few blue chip stocks. In the early years, the Rice endowment often acted as a bank by loaning money to churches, clubs, and civic organizations in Houston. Today, the endowment is highly diversified across many asset classes.
Totaling $4.84 billion as of June 30, 2013, the Rice endowment is managed as a consolidated investment pool composed of a large unrestricted endowment (approximately one-half of the total endowment) and over 1,700 individual funds with designated purposes.
The Rice endowment ranks in the top 20 endowments of private research universities (by market value) in the country. The endowment funds are the permanent capital of the university, established to provide a perpetual source of revenue for current operations and certain capital needs.