historical lists
university endowment, 1967-1983*
the physical plant
ake Forest’s endowment totaled $15,500,000 when it moved to Winston-Salem in 1956. It
increased to $34 million in 1967, when Dr. Scales became President. During his
presidency the total value reached $125 million, up almost four times. The increase came from
gifts, transfers, and performance of investments, particularly in the early 1980’s. Trust funds
that are not included in endowment totaled an additional seven million.
The annual contribution to the college from the Z. Smith Reynolds Foundation that continues
in perpetuity was in excess of one million dollars, having been set at $350,000 when the College
agreed to move.
Real estate became an important part of the endowment. Gifts from the Mary Reynolds
Babcock Foundation of the Western Electric building and Reynolda Village were the largest
holdings. Graylyn was perhaps a more valuable asset but was not part of the endowment.
he total amount in land, buildings, equipment and books increased from $39 million to $129
in 1983. Insurance values totaled $214 million.
House in Venice and London were valuable additions. The Venice property increased substantially.
Listed below are summary totals:
1967 1983
College of Arts and
Science Law and Management $ 28,000,000 $ 89,000,000
Medical School $ 6,000,000 $ 36,000,000
Total $ 34,000,000 $ 125,000,000
Physical Plant
College of Arts and Science
Law and Management $ 30,000,000 $ 77,000,000
Medical School $ 9,000,000 $ 52,000,000
Total $ 39,000,000 $ 129,000,000
Annual Expenditure
College of Arts and Science
Law and Management $ 6,005,000 $ 38,000,000
Medical School $ 6,465,000 $ 71,391,000
Total $ 12,470,000 $ 109,470,000
* I am indebted to Vice President John Williard for providing this information.
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