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Pitt continues dominance as wealthiest college in city
Tuesday, March 16, 2010
By Tim Grant, Pittsburgh Post-Gazette
Rebecca Droke/Post-Gazette
Pitt's success has not been limited to the basketball court. The school retained the top spot on the list of the region's wealthiest colleges over the past year.

The University of Pittsburgh has maintained its No. 1 spot on the Top 20 list of wealthiest colleges and universities in the Pittsburgh region, but two other institutions of higher learning on this year's list fell to a lower rank while two others advanced.

This year's Top 20 list of colleges is -- for the most part -- very similar to last year's with a few exceptions: Chatham University dropped six notches from the No. 13 spot to No. 19 and Grove City College dropped one spot to No. 12.

Chatham's dramatic drop in revenue was due to severe investment losses experienced by its endowment, a university spokesman said.

On the other hand, Seton Hill University leaped four spaces from No. 17 to No. 13; and Westminster College climbed from the No. 12 spot to No. 11 thanks to a record enrollment of 451 students. According to the college, last year was the second consecutive year enrollment hit a new high at Seton Hill.

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Although the University of Pittsburgh is far ahead of even its closest rival, the venerable institution is not without its own challenges. Pitt lost $9 million in state appropriations funding last year due to budget crunch problems.

While tuition and research dollars are Pitt's biggest sources of income, the state-related university still banks on money it receives from the state, said John Fedele, the university spokesman.

For private institutions such as Duquesne University, which does not get a state subsidy at all, tuition makes up a much higher percentage of total revenue.

Carnegie Mellon University, however, falls on the other end of the spectrum.

As a global research university with more than 11,000 students and 4,000 faculty and staff, the private university receives a much higher percentage of its revenue from research dollars.

Tim Grant: tgrant@post-gazette.com or 412-263-1591.
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First published on March 16, 2010 at 12:00 am