Last week, NACUBO released the updated survey of university endowments as of 2018.
Wake checks in #83 nationally at a portfolio value of $1,329,255,000.
(That’s $1.3 billion)
I’ve spent many years working in higher ed, so I get the fact that an endowment balance isn’t the same thing as spendable cash. I also get that a Foundation isn’t the same thing as a University or an Athletic Association.
But at the end of the day, they are all related. Wake has the means to jettison Manning without giving it a second thought. If they don’t dump Manning, it’s because they choose not to do so, not because they don’t have the means to do so.