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O when may it suffice?

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versailles

Here’s a little glimpse into how an elite law school’s (Columbia) core revenue has changed over the past 40 years.

Core revenue: Effective tuition — sticker minus discounts — + expendable endowment income + unrestricted annual giving.

(This of course isn’t all of a school’s revenue, as it excludes research grants, auxiliary income, for example revenue from student housing that’s above cost, rentals etc.)

ALL FIGURES ARE STATED IN CONSTANT 2016 DOLLARS

1975:

Sticker tuition: $17,050 (2016$)

Effective tuition: $17.1 million (2016$)

Total students: 1,050

Endowment income: $7 million (2016$)

Annual giving: $1.5 million (2016$)

Total core revenue: $25.6 million (2016$)

Median US household income: $47,350 (2016$)

1995:

Sticker tuition: $32,720 (2016$)

Effective tuition: $40.5 million (2016$)

Total students: 1,350

Endowment income: $16.1 million (2016$)

Annual giving: $2.8 million (2016$)

Total core revenue: $59.4 million (2016$)

Median US household income: $52,730 (2016$)

2015:

Sticker tuition: $62,700

Effective tuition: $80.2 million

Total students: 1,460

Endowment income: $28.2 million

Annual giving: $5.9 million

Total core revenue: $114.3 million (2016$)

Median US household income: $53,347 (2014 figures)

Those of a statistically-minded bent can extrapolate out to when CLS’s bottom line is going to get to a billion. Just kidding. Maybe.

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