The University of Massachusetts (UMass) endowment has exceeded $500 million for the first time, Business Journal reports. As of Dec. 31, 2010, the endowment stood at $506 million. The endowment grew more than 23% from $372.34 million on June 30, 2009, to $459.368 million on June 30, 2010. In 1996, the UMass endowment stood at $47 million.
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