 In the economic downturn that began in late 2007, Reed's total endowment had declined from $455 million in June 2007 to $311 million in June 2009.By the end of 2013, however, the endowment surpassed the $500 million mark.In 1995, Reed College refused to participate in the "U.S. News & World Report" "best colleges" rankings, making it the first educational institution in the United States to refuse to participate in college rankings.