State freezes endowment payments for public schools, other beneficiaries

Idaho will freeze next year’s endowment payments to public schools and other beneficiaries, in the face of market volatility.

The state Land Board approved the 2023-24 payments Tuesday, making no changes from this year’s record awards.

Here’s a breakdown of next year’s $100.3 million payments, which go into effect July 1:

  • Public schools: $61.5 million.
  • State Hospital South: $7.6 million.
  • University of Idaho, School of Science: $6.7 million.
  • University of Idaho: $5.9 million.
  • Idaho State University normal school: $3.3 million.
  • Lewis-Clark State College normal school: $3.3 million.
  • State prison: $3.1 million.
  • University of Idaho, College of Agriculture: $1.9 million.
  • Idaho State University: $1.9 million.
  • Juvenile corrections: $1.9 million.
  • State Hospital North: 1.9 million.
  • State veterans’ hospital: $1.2 million.
  • Idaho School for the Deaf and the Blind: $233,600.

The freeze comes after a trying year on the market.

The state’s endowment fund investment portfolio lost 13% of its value in 2021-22 — after nearly 30% in gains the previous year.

Revenues also fell. Timber receipts generate nearly all of the state’s income from endowment lands. But overall revenues came in at $56.5 million for 2021-22, a decrease of slightly more than $3 million.

The state manages nearly 2.5 million acres of endowment lands.

The Land Board is made up of five statewide elected officials: Gov. Brad Little, state superintendent Sherri Ybarra, Attorney General Lawrence Wasden, Secretary of State Lawerence Denney and Controller Brandon Woolf.

Kevin Richert

About Kevin Richert

Senior reporter and blogger Kevin Richert specializes in education politics and education policy. He has more than 30 years of experience in Idaho journalism. He is a frequent guest on KIVI 6 On Your Side; "Idaho Reports" on Idaho Public Television; and "Idaho Matters" on Boise State Public Radio. Follow Kevin on Twitter: @KevinRichert. He can be reached at [email protected]

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