Endowments at 842 US private and public colleges and universities lost 18.7% for the year ended June 30, 2009. The average annual return over a three-year period was a decline of 2.5%. The average spending rate for the endowments was 4.4%, with 43% of endowments reporting an increased spending rate, 28% reporting a lower spending rate and 28% reporting no change. Gifts showed a median decline of 45.7%. Only 26% of survey respondents reported increases in gifts.

Source: Commonfund