alt Hacker NewsThe page you linked shows their revenue is $9.93B/year and is greater than their expenses. So clearly they're not spending down the principal.
The page you linked shows their revenue is $9.93B/year and is greater than their expenses. So clearly they're not spending down the principal.
That’s because donors won’t let them drain all the principal in a few years.
UPenn’s revenue includes “sales of assets” and “investment income,” i.e., taking some part of the endowment annually to fund their operations.