Volume LXXVIII, Number 46
Morven’s Annual Festival of Trees Highlights Traditions And Celebrations . . . . . . 5 Princeton Folk Music Society Plans 60th Anniversary Season . . 13 New Dormitory Campus Under Construction for HomeWorks Trenton . . .14 Princeton Pro Musica Opens Season with Haydn Oratorio . . . . . 19 Lewis Center for the Arts Presents A Life Worth Living . . . . . . . . . . . . 20 PHS Girls’ Cross Country Makes History as it Wins First Group 4 State Title . . . . . . . . 34 Looking Dominant as it Pursues a 2nd Straight State Title, 25-1 PHS Girls’ Volleyball Rolls Into Sectional Final . . . 35
Elon Musk Shares This Week's Book Review with the Ancient Mariner . . 18 Art . . . . . . . . . . . . 26, 27 Books . . . . . . . . . . . . 17 Calendar . . . . . . . . . . 28 Classifieds . . . . . . . . . 40 Luxury Living . . . . . . 2, 3 Mailbox . . . . . . . . . . . 16 Mercer County Top Producers . . . . 22, 23 New To Us . . . . . . . . . 29 Obituaries . . . . . . . . . 39 Performing Arts . . 21, 24, 25 Real Estate . . . . . . . . 40 Sports . . . . . . . . . . . . 30 Topics of the Town . . . . 5 Town Talk . . . . . . . . . . 6
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Princeton University Reports 3.9% Endowment Gains, Lowest in Ivy League Princeton University’s endowment fund has reported a return of 3.9 percent and a total value of $34.1 billion for the fiscal year ending on June 30, 2024. The University has recorded an average annual return of 9.2 percent over the past 10 years, but the 2024 gain was the smallest among the eight Ivy League universities and follows Princeton’s losses of 1.5 percent and 1.7 percent in the two previous years. Returns for the 2024 fiscal year at other Ivy League institutions ranged from 11.5 percent at Columbia to 5.7 percent at Yale, with Princeton’s underperformance for the year apparently due to large investments in private equity and venture capital at a time when publicly traded stocks, particularly technology stocks and the S&P 500 index, have outperformed most experts’ predictions. PRINCO, the Princeton University Investment Company, emphasizes a “long horizon” investment strategy, focusing on many decades rather than a single year. The endowment’s investments returned 46.9 percent in 2021 and have averaged 9.9 percent over the past 20 years. Vincent Tuohey became president of PRINCO this past June, succeeding Andrew Golden, who had served as PRINCO president since 1995. Princeton University reported the 3.9 percent return in an October 24 press release, but declined to comment further on their investment results, whether there were any changes in strategy contemplated, or whether the past three years’ weak returns have put any constraints on the University’s budgeting decisions. The University press release emphasized the importance of Princeton’s endowment, which ranks fifth in size in the country behind Harvard, University of Texas, Yale, and Stanford. The endowment funds teaching and research at Princeton, as well as support for undergraduate and graduate students from all backgrounds. “Generations of generous philanthropy, coupled with excellent stewardship of our endowment, enable the University to make bold investments in human talent,” said Princeton University Provost Jennifer Rexford. “The endowment allows us to offer unparalleled financial support to our students, launch major research initiatives, and build state-of-the-art facilities.”
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Wednesday, November 13, 2024
BOE Winners Look to Upcoming Challenges With a few final mail-ins and provisional ballots still being counted, incumbent Mara Franceschi and new candidates Christopher Santarpio and Ari Meisel have won three-year terms on the Princeton Public Schools (PPS) Board of Education (BOE) beginning January 1, 2025, defeating three other challengers in a hotly contested race. The unofficial results based on most recent tallies show Franceschi as the top vote-getter with 5,617 votes (20.66 percent), followed by Santarpio with 4,851 (17.84 percent) and Meisel with 4,662 (17.15 percent). Erica Snyder fell short with 4,523 votes (16.64 percent), as did Z. Lisa Potter with 4.385 (16.13 percent) and Shenwei Zhao with 3,084 (11.34 percent). Final counts and certification by the Mercer County clerk are expected to take place next week. Franceschi reflected on her success, which she saw as a vote for experience and for the accomplishments of the current Board. “I ran because I truly think experience matters and is important,” she wrote in an email. “I believe our community shares this value. I hope my reelection reflects the community’s satisfaction with the direction of the district and the Board’s positive work over the last year and a shared optimism for the future.”
Franceschi went on to express her commitment to “build on the positive momentum in the district,” and she added, ”We have exciting challenges coming up in the next months as we hire our new superintendent and bring the referendum to the voters.” Santarpio thanked the community “for their support and confidence in me” and “for entrusting me with this incredible responsibility.” He noted his intention to help foster “further collaboration with the town and external organizations.”
He continued, “I am excited to embark on this journey with each of you, collaborating to enrich our programs, support our teachers, and build a safe and dynamic environment where students thrive.” Meisel also affirmed his gratitude for the “trust Princeton voters have placed in me,” and stated, “I see it as a clear message that our community values collaboration, inclusivity, and a student-centered approach to education.” He added, “As I begin this journey on
On Friday, November 15 at 2:30 p.m., municipal and environmental officials will cut the ribbon on Princeton’s newest open space preserve. The 153-acre expanse formerly known as the Lanwin tract has frontage on Province Line and Cherry Valley roads and is located in the northwest corner of Princeton. The parcel was at one time targeted for a housing development, which would have resulted in the loss of some 4,000 trees that form part of an old-growth forest. But through an agreement struck in October 2021 between the municipality, Bryce Thompson, and Lanwin Development,
the tract was acquired for $8.775 million and set aside for conservation and passive recreational use. The purchase was part of the “Princeton’s Emerald Necklace” initiative, which aims to connect open spaces throughout the town and provide greater access to a more diverse group of community members. Among the organizations involved in the agreement were Friends of Princeton Open Space (FOPOS) and the Ridgeview Conservancy. “Going back to the 1960s, people who later founded Friends of Princeton Open
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Ribbon Cutting to Officially Open 153-Acre Green Space Preserve
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GRIN AND BEAR IT: Members of the Princeton University women’s soccer team are all smiles as they celebrate after defeating Brown 2-0 last Sunday afternoon in the Ivy League Tournament final at Roberts Stadium. The Tigers improved to 14-4 with the win over the Bears. Princeton is headed to the NCAA tournament where it will play at Virginia (12-5) in a first round contest on November 15. For more details on the game, see page 30. (Photo by Bill Alden)
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Saturday, December 14 3pm and 6pm
Featuring Broadway vocalist Andrea Ross with Princeton High School Choir