Stanford University reported its financial results for the fiscal year that ended Aug. 31, 2020.

In FY2020, consolidated net assets increased $2.0 billion, or 4.4 percent, to end fiscal year 2020 at $47.2 billion. These results include the university, Stanford Health Care and Lucile Salter Packard Children’s Hospital at Stanford, and other majority-owned or controlled entities of these organizations. Net assets of the university, excluding SHC and LPCH, increased $1.8 billion, or 4.7 percent, to $40.3 billion. In FY2020, SHC’s net assets increased $105 million, or 2.5 percent, to $4.3 billion; LPCH’s net assets increased $95 million, or 3.7 percent, to $2.6 billion.

“The global pandemic reduced revenues from student room and board, executive education and conferences,” said Randy Livingston, vice president for business affairs, chief financial officer and university liaison for Stanford Medicine. “Fortunately, the impact was mitigated by cost-saving efforts by employees throughout the organization, federal CARES relief funding to the hospitals, and tremendous generosity from our donors, enabling us to end with a modest operating surplus.”

University operating revenues were $6.1 billion, down $22 million or 0.4 percent over the prior year, resulting in an operating surplus of $41 million. Payout from the endowment increased 4 percent to $1.4 billion in FY2020, funding 22.3 percent of the university’s operating expenses.

“The university’s commitment to meet challenges in the moment while planning for the long term is evident in these financial results,” said Anne Sweeney-Hoy, senior associate vice president of finance. “We are grateful and proud of our finance staff, budget officers and our larger Stanford community, who have helped steward us through these unprecedented times.”

The university’s endowment rose in value by 4.5 percent to $28.9 billion. Spending from the endowment to support university operations was equal to 4.9 percent of the endowment’s value at the beginning of the fiscal year.

FY2020 results are posted on the Office of the Treasurer website.

Information in this press release contains statements that, to the extent they are not recitations of historical fact, may constitute “forward-looking statements.” In this respect, the words “estimate,” “project,” “anticipate,” “expect,” “intend,” “believe” and similar expressions are intended to identify forward-looking statements. A number of important factors affecting the university’s business and financial results could cause actual results to differ materially from those stated in the forward-looking statements.