A national report says Michigan State University's endowment fund increased 22 percent to $1.4 billion in its latest fiscal year.
The National Association of College and University Business Officers reports that Michigan State's endowment stood at $1.15 billion in the 2010 fiscal year. The group's 2011 Endowment Study shows the East Lansing school ranked 54th nationally.
The group says endowments nationwide increased 18 percent from fiscal 2010 to fiscal 2011. The association surveyed 839 institutions for its 2011 Endowment Study.
The study ranks the University of Michigan seventh in the nation with a $7.8 billion endowment, up 19 percent from $6.6 billion a year earlier.
It says Harvard University is No. 1 at $31.7 billion.