Posts tagged: endowment earnings
The state Land Board, which consists of the state's top five elected officials and is chaired by the governor, has sent out an opinion piece to Idaho news media hailing the endowment's record earnings in the past year, from the record 18.8 percent return on investments in the endowment fund to a 14-year high of $102 million from state endowment lands. That included the take from a record 347 million board feet of timber that was logged from the endowment lands, part of it consisting of trees that had been damaged by wildfire or insects, and from a hotly bid-for $1 million lease to use state lands to recreate Evel Knievel’s 1974 attempt to jump the Snake River Canyon near Twin Falls. “Together with our state land managers and the fund managers who invest the revenues they work hard to generate, we’re showing Idahoans that active management of State endowment trust lands and prudent investment of financial assets benefit us all,” the board said in the piece; you can read it in full below.
Idaho's endowment chiefly benefits the state's public schools, which are the beneficiary for 85 percent of the state's endowment land. The other beneficiaries, which like the schools were designated at statehood, are the agricultural college (U of I); charitable institutions (a catch-all that includes Idaho State University, industrial training school, State Hospital North, Idaho veterans homes, and the School for the Deaf and Blind); normal school (covers ISU Department of Education and Lewis-Clark State College); penitentiary; school of science (U of I); mental hospital (State Hospital South); University of Idaho; and the Capitol endowment.