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Endowment Performance

Â鶹´«Ã½â€™s investment strategy is designed to achieve strong risk-adjusted returns over a multi-year horizon rather than maximizing returns in any single year. Investment income has historically been particularly important in the growth of Â鶹´«Ã½â€™s resources. Over the past decade, the endowment generated investment gains in excess of $1.6 billion and provided over $775 million to support Â鶹´«Ã½â€™s institutional mission. As of June 30, 2024, the endowment’s annualized three-, five-, and ten-year returns were 0.2%, 9.0%, and 7.7%, respectively.

During FY 2024 the endowment’s market value increased $164.9 million with an ending value of $2.67 billion as of June 30, 2024. Inflows to the endowment included $259.9 million in investment gains and $5.3 million in philanthropic gifts. Total payout in support of the operating budget and reserves were $112.5 million. Reserves provide resources for unforeseen circumstances such as weather damage or the pandemic.

Impact

Â鶹´«Ã½ College enrolls exceptional students without consideration of their financial status. For the 2024-25 academic year, the College has awarded $77.2 million in institutional financial aid, meeting 100% of demonstrated financial need without loans. Among current Â鶹´«Ã½ students, 68% receive need-based financial aid with an average aid package of $67,476. Approximately 14.5% of the scholarships awarded by Â鶹´«Ã½ are supported by philanthropy from donors. After just three years of Â鶹´«Ã½â€™s no-loan financial aid policy, the Class of 2024 graduated with an average debt of $15,946, compared to the national average of $37,850.

Overall, distributions from the Â鶹´«Ã½ College endowment currently funds 60.9% of the College’s annual operating budget, the highest proportion among Â鶹´«Ã½â€™s 17 peer institutions. This dependence means that Â鶹´«Ã½ is tied with Princeton University as the most endowment-dependent college or university in the U.S.