For Fiscal Year 2021, the endowment provided $194 million for student scholarships, scientific research and other strategic priorities — investments in education and research expected to grow markedly in the coming years.
Currently the vice chancellor for business and administrative services at the University of California Santa Cruz, Latham will lead all administrative, business and financial operations for Brown effective Jan. 1, 2022.
The approved $1.34 billion base budget strikes a deliberate balance between long-term financial sustainability, economic recovery from COVID-19, and continued investments in academic excellence and support for students.
Since joining Brown as executive vice president in 2015, the Class of 1979 graduate has transformed administrative operations in areas ranging from Finance and Facilities to Human Resources, Dining and Business Operations.
A 2.85% increase in tuition and fees, the lowest percent increase in more than a decade, will provide nearly $16 million of revenue, enabling Brown to continue strong support for students with financial need while supporting teaching, learning and research on campus.
Dowling, who has played a key role in the growth of Brown University’s endowment since 2013, will leave Brown to serve as global co-head of Blackstone Alternative Asset Management, effective Jan. 12, 2021.
The endowment provided $171 million to the University’s operating budget in Fiscal Year 2020, with contributions supporting student financial aid, faculty research and strategic priorities in an uncertain financial environment.
The approved $1.3 billion base budget includes $347 million for student aid and support, and will serve as a foundation for revised budget forecasts to contend with the full impact of COVID-19 on Brown’s financial position.