McGuirk cited the university’s endowment, which reported an 11.7 percent return on investments in the 12 months ended in June, up from a 3.1 percent gain a year earlier. The pool’s value grew by $1.2 billion to $18.2 billion.
By comparison, the school has about $3.2 billion of debt, according to Moody’s.
“Generous support from this endowment allows the university to fulfill its educational mission and to charge lower tuition than its peers,” Moody’s said.
Chartered in 1746 as the College of New Jersey, Princeton has about 7,900 students, according to its website.
The case is Estate of Eleanor J. Lewis v. Trustees of Princeton University, 010656-2011, Tax Court of New Jersey (Morristown).
College Week
Princeton joins issuers including Northeastern University in Massachusetts and the University of Texas System in offering $2.3 billion in long-term debt this week.
The interest rate on AAA 10-year munis is 2.97 percent, compared with 2.94 percent on similar-maturity Treasuries.
The ratio of the two, a measure of relative value, is about 101 percent, compared with a five-year average of about 99 percent. The higher the number, the cheaper munis are compared with federal securities.