The Daily Princetonian: November 3, 2023

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Friday November 3, 2023 vol. CXLVII no. 21

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BEYOND THE BUBBLE

Princeton schools superintendent resigns after tumultuous tenure By Charlie Roth & Yan Zhen Zhu

Senior News Writer & News Contributor

Dr. Carol Kelley resigned from her position as Superintendent of Princeton Public Schools on Friday after two years on the job. She will take an immediate paid leave of absence until her resignation takes effect on Sept. 1, 2024. Kelley announced her resignation in an email to staff, writing

in part: “This week, after much consideration, I made the difficult decision to resign as Superintendent of Princeton Public Schools. This decision has not come easy, but for personal and professional reasons, I must take some time to reset and recenter myself, so I can later return to

public education and continue to positively impact students.” The decision comes months after Kelley dismissed then-Principal of Princeton High School Frank Chmiel ’98, leading to student walkouts, protests, and a special Donaldson hearing, an inSee BOARD page 2

CHARLIE ROTH / THE DAILY PRINCETONIAN

Board of Education votes on Kelley’s resignation at Monday’s meeting. U. AFFAIRS

The PROSPECT

As Golden prepares to retire, U. endowment has lowest returns in Grief from 700 miles away Ivy League

By Allison Lesser Contributing News Writer

For the second consecutive year, the University endowment has experienced an investment loss. This year’s 1.7 percent decrease is greater than the 1.5 percent decrease last year, and it marks the lowest investment return since the Great Recession in 2008, when the University recorded a 23.7 percent decrease. This is not the first time that the University’s endowment has decreased, but it is notable given that the endowment’s decrease is an outlier from other colleges. All Ivy League u n iversities, except Princeton, that have reported their endowment thus far saw positive annual returns this year. Columbia had the largest annual return of 4.7 percent. The University of Pennsylvania had the smallest positive return at 1.3 percent.

NEWS

Months after petition circulated over affordable housing development in town, pushback persists by Staff News Writer Abby Leibowitz PAGE 4

However, despite their positive returns, some other Ivy League schools still saw an endowment decrease, meaning they spent more money than their endowments earned. Harvard and Yale both experienced decreases of $0.2 billion and $0.7 billion, respectively. Last year, Princeton’s endowment loss was in the middle of the pack, with the fourth highest returns in the Ivy League. These numbers contrast starkly with the University’s 2021 earnings when PRINCO’s investments generated a historic 46.9 percent investment return. The average annual return on the endowment for the past 10 years is 10.8 percent and is 10.5 percent for the past 20 years. These endowment returns come in the penultimate year of the direction of Andrew Golden, President of the Princeton University Investment Company (PRINCO). Af-

ter almost 30 years with PRINCO, Golden will retire on June 30, 2024. Under Golden’s direction, the endowment has grown nearly tenfold and reached a 37.7 billion valuation in 2021. In 1996, the year after Golden joined, it was valued at approximately $4 billion. University President Christopher Eisgruber ’83 wrote in a statement that “Andy Golden’s achievements are the stuff of legend.” According to an announcement from the Office of Communications on Wednesday, Oct. 25, the current endowment value stands at $34.1 billion for the fiscal year that ended on June 30, 2023. This marks an overall $1.7 billion dollar decrease during the 2022–2023 fiscal year. Allison Lesser is a contributing News writer for the ‘Prince.’

By Mackenzie Hollingsworth

Contributing Prospect Writer

In the months leading up to my move to New Jersey, my family was constantly anxious that I would be so far away. In the summer I had before leaving home, there were always questions of “what if something happens, and we can’t get to her?” or “what if she needs us and can’t get back home?” I told my family that everything would be fine. I was just a flight away, and if I truly needed to get home, I would. It’s very easy to plan when you have no actual need to do so. But, when your dad tells you at 3:20 p.m. the day before your flight back to school after fall break that your grandfather has passed away, those plans have a way of falling apart. My dad’s words couldn’t be unsaid. I no longer lived in a world where I had all of my grandparents, and the understanding that I could never have another conversation with my grandfather weighed me down until all I could do was sob while my boyfriend held me. I didn’t know what to do, so the

See GRIEF page 16

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INSIDE THE PAPER

DATA

next day, I got on my flight and returned to campus, even though it was the last thing I wanted to do. Sitting alone in a dorm, grieving someone that I’d known my whole life, I thought that I had discovered a new level of loneliness. While I knew that my family was just a call away, support via phone versus being at home with them were two different experiences. In my dorm, I was alone with my thoughts, grief, and guilt. At home, I would have had my parents and siblings to support me, but life just doesn’t work out like that sometimes. That’s the thing about grief. No one prepares you for it. The only way to prepare for it is to experience it, and each time you do, it feels like a different weight, a different numbness and pain. No one prepared me for the tears that would start on my walks to class, or in the shower, or while doing homework. No one prepared me for the empty feeling that comes with the knowledge that the next

OPINION

FEATURES

Who are the biggest name professors on campus? by Assistant Data Editor Andrew Bosworth

Princeton’s civic engagement issue is deeper than what a ‘service requirement’ can fix by Contributing Columnist Christie Davis

‘Once in an institutional lifetime’: Before and beyond Princeton’s 2026 Campus Plan by Staff Features Writer Raphaela Gold

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SPORTS

On baseball’s biggest stage, Mike Hazen ‘98 and Chris Young ‘02 face off by Sports Contributors Joseph Uglialoro & Andrew Park PAGE 19


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