$338 PSF
In 2019, the INDEX median cost per square foot for new building construction was $338, and 23 out of 161 INDEX schools (14%) constructed a new building.
$3,322 per New Student
Last year, the median admissions expense per new enrollee was $3,322 (admissions expense is the sum of salaries, benefits, and other admissions office expenses.) Five years ago, the cost per new enrollee was $2,699. This represents a median compound annual growth rate (CAGR) of 4.9%. As a comparison, the CAGR of the CPI over the same period was 1.5%.
4.5% Annual Draw
The INDEX median endowment spending rate (policy) has remained at 4.5% for the past 10 years. During this time, the median annual rate of return on endowment has ranged from a low of -17.5% in 2009-10 to a high of 16.5% in 2011-12. Last year, the median annual return on endowment, net of fees, was 5.1%.
22 Months
On average, INDEX schools have cash, cash equivalents, and investments on hand to cover 22 months of operation. This means the average INDEX school can function, although probably not happily, almost 2 years without taking in additional revenue.
6 White Anti-Racist Groups
Six schools, or 1/3 of the responding 18 INDEX schools report that they have a white anti-racist group for faculty, and four schools report having a white anti-racist group for students.