Johns Hopkins University endowment drop brings hiring freeze, cost cuts Baltimore Business Journal - by Ryan Sharrow, Staff Date: Friday, February 13, 2009, 12:23pm EST - Last Modified: Friday, February 13, 2009, 4:45pm EST Related: Education Enlarge Image Johns Hopkins University President Dr. William R. Brody. Click here to find out more! Johns Hopkins University President William R. Brody outlined a series of cost-cutting measures Friday in an attempt to guide the institution through a revenue shortfall expected to surpass $100 million. In a letter to Hopkins’ staff and students, Brody wrote that the university ’s endowment lost around 20 percent of its market value in the first six months of its fiscal year through Dec. 31. The endowment was $2.1 billion at the end of the year. Brody also expects a revenue shortfall of more than $100 million in 2010 and 2011 combined. The move shows that even Hopkins, one of the region’s most powerful institutions, is feeling far-reaching effects of the recession. The university is Greater Baltimore’s largest private employer, with more than 30,000 employees. “I believe it is now clear — much clearer than even a few months ago — that we will have to take some unified, across-the-university measures in response to those challenges,” he said. Hopkins’ 2009 budget is roughly $3.7 billion. Measures Brody laid out in the letter include: • Effective July 1, all members of the executive leadership — the president, the divisional deans and directors, and vice presidents — will voluntarily reduce their salaries by 5 percent. Brody’s salary was $615,000 in 2006, according to Johns Hopkins’ most recent IRS Form 990. Savings will fund division priorities and student aid. Read more: Johns Hopkins University endowment drop brings hiring freeze, cost cuts | Baltimore Business Journal
【在 j****i 的大作中提到】 : 就这还叫有钱? : : Johns Hopkins University endowment drop brings hiring freeze, cost cuts : Baltimore Business Journal - by Ryan Sharrow, Staff : Date: Friday, February 13, 2009, 12:23pm EST - Last Modified: Friday, : February 13, 2009, 4:45pm EST : Related: : Education : Enlarge Image : Johns Hopkins University President Dr. William R. Brody.