THE
BROWN DAILY HERALD vol. cxlix, no. 80
since 1891
THURSDAY, OCTOBER 2, 2014
Endowment reaches record high Report shows 2013 rise U. posts 16.1 percent return on investment, double its average yield over past decade
in campus crime stats
Brown’s endowment return this year increased from last year’s return of 12.6 percent. Among the Ivies, Cornell and Princeton have not yet released this year’s numbers.
By LINDSAY GANTZ SENIOR STAFF WRITER
The University’s endowment saw a 16.1 percent return on investments for the fiscal year that ended in June, landing at a record high of $3.2 billion, the administration announced Wednesday. Brown’s endowment returns are consistent with a period of recent growth, said Chief Investment Officer Joseph Dowling. “Our 10-year average return for the endowment is 8.3 percent,” roughly half of this year’s endowment return, he said. The 16.1 percent return places Brown toward the bottom of the six Ivies that have announced fiscal year 2014 results so far, though all experienced fairly similar trends. Yale currently leads the way with an annual endowment return of 20.2 percent, according to the Yale Daily News. Dartmouth followed with a return of 19.2 percent, the Dartmouth reported. Penn and Columbia had identical returns of 17.5 percent, according to reports from the Daily Pennsylvanian and the Columbia Daily Spectator. Harvard is currently the only Ivy with a lower endowment return than Brown
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Burglary reports spike year to year, while forcible sex offenses rise slightly from 2012
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This article was written by Sabrina Imbler, Maxine Joselow, Sarah Perelman and Molly Schulson.
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Brown
Dartmouth Penn Columbia Harvard
Yale
Source: Bloomberg News, New York Times, Harvard Crimson EMMA JERZYK / HERALD
last year — its endowment grew 15.4 percent, according to the Harvard Crimson. Cornell and Princeton have not yet released their 2014 returns. “We’ve made more money in the last two years than the endowment had in its entirety until 1996,” Dowling said, citing the approximately $780 million in investment gains, or profits, made during
Christina Paxson’s presidency. “The endowment’s full recovery from the financial crisis and its uninterrupted support for essential programs in the intervening years is evidence of the University’s strength and resilience,” said Beppie Huidekoper, executive vice president for finance and administration, in the » See ENDOWMENT, page 2
The number of burglaries reported to the Department of Public Safety in 2013 nearly tripled from 2012, and the number of forcible sex offenses reported saw a slight rise, according to DPS’s annual security report, released Tuesday night. There were 63 reported burglaries in 2013, up from 23 in 2012 and 40 in 2011. All but five of them occurred on campus. DPS attributes this spike to an increased number of students leaving their dorm rooms unlocked and unsecured, Chief of Police Mark Porter told The Herald. Whether burglars are “strangers piggybacking off the street or other students who live in the dorm,” students should always lock their doors, Porter said. All 21 of the forcible sex offenses reported in 2013 took place on campus. In 2012, 16 reported cases occurred on campus while one case took place on public property.
Both years constitute a significant jump from the seven reported incidents in 2011. But Porter attributed the rise not to an increase in offenses but an increase in reporting. “When the numbers go up, we look at it as maybe we’re putting more education out there and more victims are willing to come forward,” Porter said. “This is my top priority.” “Critical evidence and timely investigations are missed when students don’t report,” Porter said, adding that victims are entirely in control and may come to the police and choose not to file criminal charges. Per the reauthorization of the 2013 Violence Against Women Act, the categories of domestic violence, dating violence and stalking were added to the report this year, increasing the number of categories of reported criminal offenses to twelve. There were two incidents of domestic violence and one incident each of dating violence and stalking reported in 2013. In past years these incidents may have been included under other categories, so the 2013 numbers do not necessarily indicate an increase in actual offenses, Porter said. Since domestic violence and dating violence incidents may have formerly been included as forcible sex offenses, that overall category’s » See CLERY, page 2
Development aims to revitalize West End Changing neighborhood brings mixed bag of new school, higher rents but persistent crime problem By EMMA JERZYK SENIOR STAFF WRITER
PLO envoy urges nonviolence in Israeli-Palestinian conflict Areikat calls for end to military aggression, details Palestinian goals for peace negotiations
United States, discussed how an “end to all historical claims in the region” can be achieved through a two-state solution. Organized by J Street U and cosponsored by the Watson Institute for International Studies, the Middle East Studies Initiative and Brown/RISD Hillel, Areikat’s talk was part of the Prospects for Peace after Gaza lecture series. “The only way Israel can guarantee its safety is through peace with Palestine. Forget about (the Islamic State), forget » See PLO, page 3
By EBEN BLAKE STAFF WRITER
inside
Speaking to a packed Metcalf Auditorium Wednesday, Maen Areikat, chief representative of the Palestine Liberation Organization’s delegation to the
METRO
Metro
ORLANDO LUIS PARDO LAZO / HERALD
Julian’s Restaurant is one of many restaurants on the west side of Providence, where critics have called recent changes gentrification. more criminal reports than any other municipality. The median household income for the West End was $33,612 in 2014 — 32 percent lower than the rest of Providence, which has a median household income of $49,571 this year, according to the National Association of Realtors’ website. Only 43 percent of adults living in the West End graduated from high school and only 13 percent received a
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ZEIN KHLEIF / HERALD
Maen Areikat, chief representative of the PLO to the United States, said Wednesday that the recent Gaza conflict didn’t improve Israel’s safety.
When Jay Davani first moved to Rhode Island, she considered living in Providence’s West End neighborhood. She put a bid on a condo, but after visiting and finding a used needle on the sidewalk outside the building, she withdrew her offer. She moved to Pawtuxet Village instead. Ten years later, Davani now lives in the West End and owns a vintage clothing boutique on Broadway Street called MINT. Her move was motivated by the “young, creative, entrepreneurial, artistic people” in the area, she said. Historically, Providence’s West End neighborhood has been home to some of the worst crime rates and lowest income and education levels in the city. The neighborhood had more crime reports — 349 — filed than any other neighborhood in Providence in 2012, including 71 assaults, over 200 burglaries, 16 sexual assaults and one of the 13 homicides reported in the city that year, GoLocalProv reported. This was 105
bachelor’s degree, according to 2014 census data provided by NAR. This is 15 percent lower than the rest of the Providence metropolitan area. But developments in the neighborhood have started to transform the atmosphere. Davani said there is “a really great camaraderie” between small business owners in the neighborhood. “This is » See WEST END, page 3 t o d ay
tomorrow
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