Columbia University joined Dartmouth and Penn yesterday as one of the few Ivy League universities to report a financial loss during the last fiscal year.

According to the school’s annual financial report, the University’s endowment fell from $7.24 billion to $7.04 billion, a whopping two percent drop.

OK, maybe that’s not statistically “whopping,” but for the crème de la crème, this is a serious blow to Columbia’s overall prestige.

The Spectator reports:

All Ivy League schools reported endowment performance significantly less than the double-digit gains that they have been accustomed to in recent years, though only two other schools, University of Pennsylvania and Dartmouth, reported a loss. According to the Daily Pennsylvanian, Penn’s student newspaper, the school’s endowment fell by nearly 4 percent over the last fiscal year to $6.3 billion, while Dartmouth’s endowment fell by $100 million due to institution spending, student newspaper The Dartmouth reported. Harvard, Yale, and Princeton each reported modest single-digit growth, although their returns were far below those of recent years.

Unsurprisingly, the Elite Three of the Ancient Eight—Harvard, Yale and Princeton—escaped unscathed from the economic downturn.

Still, what is surprising about the Spectator report is the absence of Cornell and Brown.

Do they not want to release their financial reports? What do they have to hide?