2019 Endowment Market Values--Final Feb 10

U.S and Canadian Institutions Listed by Fiscal Year (FY) 2019 Endowment Market Value and Change* in Endowment Market Value from FY18 to FY19 (Revised) Before reviewing the data on the following pages, please note: For most institutions, the endowment values listed on this table are based on the fiscal years ending June 30, 2018 (for FY18) and June 30, 2019 (for FY19) *The change in market values listed for the participating institutions DOES NOT represent the investment rate of return for the endowments’ investments Rather, the change in the market value of an endowment from FY18 to FY19 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses The market values also include the estimated valuations of real estate and other “illiquid” assets, which may have large increases or decreases in value during a relatively short period of time In addition, transfers to the endowment from other institutional budget accounts, and changes in foreign currency exchange rates for non-U.S investments, may account for large changes in endowment market values These factors suggest that any large increases or decreases in endowments over the past year may be exaggerated As such, large percentage changes should be interpreted very cautiously © Copyright 2020 National Association of College and University Business Officers and TIAA U.S and Canadian Institutions Listed by Fiscal Year 2019 Endowment Market Value and Change* in Endowment Market Value from FY18 to FY19 *Note: The change in market value does NOT represent the rate of return for the institution’s investments Rather, the change in the market value of an endowment from FY18 to FY19 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses Rank Institution 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Harvard University The University of Texas System Yale University Stanford University The Trustees of Princeton University Massachusetts Institute of Technology University of Pennsylvania The Texas A&M University Systemi University of Michigan University of California* University of Notre Dame Northwestern University Columbia University in the City of New York DUMAC, Inc (Duke University) The University of Chicago Washington University in St Louis Emory University Cornell University University of Virginia Rice University Johns Hopkins University The Vanderbilt University University of Southern California Dartmouth College The Ohio State University The Pennsylvania State University New York Universityii University of Pittsburgh Brown University University of Minnesota & Foundation* University of North Carolina at Chapel Hill and Foundations University of Wisconsin Foundation Michigan State University California Institute of Technology University of Washington The President and Trustees of Williams College UCLA Foundation Purdue University Carnegie Mellon Universityiii Trustees of Boston College University of Richmond 32 33 34 35 36 37 38 39 40 41 State/ Province FY19 Endowment Funds ($000s) MA TX CT CA NJ MA PA TX MI CA IN IL NY NC IL MO GA NY VA TX MD TN CA NH OH PA NY PA RI MN NC 39,427,896 30,958,239 30,314,800 27,699,834 26,116,022 17,569,328 14,649,762 13,514,528 12,448,817 11,797,543 11,268,365 11,091,516 10,950,738 8,609,004 8,263,868 7,953,986 7,872,381 7,328,241 7,058,235 6,481,102 6,275,939 6,270,877 5,732,101 5,731,322 5,256,759 4,546,105 4,345,608 4,311,387 3,976,694 3,951,464 3,671,351 FY18 Endowment Funds ($000) 38,298,087 30,886,018 29,351,100 26,464,912 25,917,199 16,529,432 13,777,441 13,524,947 11,901,760 11,008,035 10,727,653 11,087,659 10,869,245 8,524,846 7,928,485 7,594,159 7,292,165 7,230,291 6,856,309 6,277,506 4,190,520 4,608,461 5,549,556 5,494,204 5,211,434 4,282,794 4,262,116 4,200,206 3,603,848 3,717,476 3,432,911 WI MI CA WA MA CA IN PA MA VA 3,152,578 3,033,279 2,975,376 2,935,220 2,888,962 2,746,930 2,625,278 2,542,650 2,523,300 2,517,969 2,985,251 2,907,967 2,879,494 2,764,166 2,749,653 2,522,638 2,523,770 2,385,986 2,477,700 2,511,584 © Copyright 2020 National Association of College and University Business Officers and TIAA *Change in Market Value (%) 2.95 0.23 3.28 4.67 0.77 6.29 6.33 -0.08 4.60 7.17 5.04 0.03 0.75 0.99 4.23 4.74 7.96 1.35 2.95 3.24 49.77 36.07 3.29 4.32 0.87 6.15 1.96 2.65 10.35 6.29 6.95 5.61 4.31 3.33 6.19 5.07 8.89 4.02 6.57 1.84 0.25 U.S and Canadian Institutions Listed by Fiscal Year 2019 Endowment Market Value and Change* in Endowment Market Value from FY18 to FY19 *Note: The change in market value does NOT represent the rate of return for the institution’s investments Rather, the change in the market value of an endowment from FY18 to FY19 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses Rank Institution 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 Indiana University and Foundation Amherst College University of Illinois & University of Illinois Foundationiv Pomona College Boston University The Rockefeller University University of Rochester Wellesley College Georgia Institute of Technology Swarthmore College University of California, Berkeley Foundation Trustees of Grinnell College Virginia Commonwealth University University of Toronto# Smith College Tufts University Case Western Reserve University University of California San Francisco Foundation University of Florida Foundation, Inc Georgetown University The Kansas University Endowment Association The George Washington University Bowdoin College University of Missouri* Texas Christian University Washington and Lee University Southern Methodist University Liberty University University of Iowa & University of Iowa Center for Advancement The Board of Trustees of The University of Alabama Rutgers, the State University of New Jersey University of Delaware University of Cincinnati University of Colorado Foundation University System of Maryland Foundation University of Nebraska Board of Regents Tulane University Lehigh University University of Kentucky 71 72 73 74 75 76 77 78 79 80 FY18 Endowment Funds ($000) 2,397,369 2,377,537 2,293,864 2,272,206 2,161,596 2,194,245 2,177,868 2,105,212 2,089,440 2,115,768 1,944,306 1,991,605 1,951,337 1,925,509 1,875,093 1,845,956 1,842,899 1,664,471 1,734,661 1,769,557 1,740,763 1,798,810 1,628,165 1,675,019 1,632,901 1,603,114 1,632,795 1,432,964 N/A *Change in Market Value (%) IN MA IL CA MA NY NY MA GA PA CA IA VA ON MA MA OH CA FL DC KS DC ME MO TX VA TX VA IA FY19 Endowment Funds ($000) 2,486,037 2,473,283 2,353,821 2,324,594 2,304,235 2,293,239 2,239,720 2,173,415 2,169,005 2,131,553 2,070,905 2,069,953 2,042,520 1,987,176 1,913,253 1,867,962 1,866,500 1,840,206 1,825,250 1,822,484 1,816,931 1,778,559 1,743,663 1,743,142 1,708,867 1,676,308 1,663,864 1,587,919 1,578,933 AL NJ DE OH CO MD NE LA PA KY 1,519,595 1,476,072 1,466,070 1,453,000 1,452,722 1,436,215 1,435,753 1,429,707 1,411,641 1,407,221 1,451,750 1,330,011 1,413,197 1,367,000 1,360,521 1,322,818 1,398,207 1,384,371 1,353,116 1,361,246 4.67 10.98 3.74 6.29 6.78 8.57 2.69 3.27 4.33 3.38 State/ Province © Copyright 2020 National Association of College and University Business Officers and TIAA 3.70 4.03 2.61 2.31 6.60 4.51 2.84 3.24 3.81 0.75 6.51 3.93 4.67 3.20 2.04 1.19 1.28 10.56 5.22 2.99 4.38 -1.13 7.09 4.07 4.65 4.57 1.90 10.81 N/A U.S and Canadian Institutions Listed by Fiscal Year 2019 Market Value of Endowment Assets and Percentage Change* in Endowment Market Value from FY18 to FY19 *Note: The change in market value does NOT represent the rate of return for the institution’s investments Rather, the change in the market value of an endowment from FY18 to FY19 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses Rank Institution 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 NC State University and Related Foundations Syracuse University Wake Forest University Virginia Tech Foundation The University of Tennessee The University of Georgia and Related Foundations Baylor University The University of British Columbia# Texas Tech University System Baylor College of Medicine McGill University# Trinity University University of Alberta# Saint Louis University The University of Utah University of Arkansas, Fayetteville, and Foundation Berea College Middlebury College Princeton Theological Seminary Vassar College University of Tulsa Iowa State University of Science and Technology Loma Linda University Brandeis University Washington State University Berry College, Inc Northeastern University The University of Arizona and the University of Arizona Foundation University of California, Irvine Foundation Santa Clara University Wesleyan University University of Miamv William & Mary and Foundations Hamilton College Carnegie Institution of Washington University of Houston System Colgate University Rochester Institute of Technology Oberlin College The Medical College of Wisconsin, Inc LSU Systemvi Arizona State University & Foundation 109 110 111 112 113 114 115 116 117 118 119 120 121 122 FY18 Endowment Funds ($000) 1,293,743 1,338,287 1,339,003 1,146,055 1,298,212 1,274,343 1,312,753 1,300,257 1,306,551 1,272,276 1,256,358 1,320,358 1,271,077 1,226,095 1,186,952 1,185,715 1,192,078 1,124,144 1,119,689 1,082,831 1,093,042 1,062,682 1,015,224 1,046,386 1,024,380 976,754 831,129 959,632 *Change in Market Value (%) NC NY NC VA TN GA TX BC TX TX QC TX AB MO UT AR KY VT NJ NY OK IA CA MA WA GA MA AZ FY19 Endowment Funds ($000) 1,400,655 1,392,691 1,375,398 1,357,969 1,354,756 1,343,987 1,340,417 1,337,797 1,316,660 1,301,005 1,281,896 1,280,248 1,280,242 1,252,678 1,225,045 1,221,935 1,218,740 1,157,786 1,127,362 1,117,380 1,113,722 1,101,709 1,076,898 1,073,526 1,067,842 1,058,605 1,055,474 1,038,133 CA CA CT FL VA NY DC TX NY NY OH WI LA AZ 1,029,020 1,019,760 1,004,806 997,413 995,874 969,362 966,753 959,815 950,360 944,883 943,469 937,909 926,247 922,103 972,185 979,248 990,125 1,021,508 935,524 964,169 983,966 915,917 934,827 920,635 905,947 930,961 886,387 720,565 5.85 4.14 1.48 -2.36 6.45 0.54 -1.75 4.79 1.66 2.63 4.14 0.75 4.50 27.97 State/ Province © Copyright 2020 National Association of College and University Business Officers and TIAA 8.26 4.07 2.72 18.49 4.36 5.47 2.11 2.89 0.77 2.26 2.03 -3.04 0.72 2.17 3.21 3.05 2.24 2.99 0.69 3.19 1.89 3.67 6.07 2.59 4.24 8.38 26.99 8.18 U.S and Canadian Institutions Listed by Fiscal Year 2018 Market Value of Endowment Assets and Percentage Change* in Endowment Market Value from FY19 to FY18 *Note: The change in market value does NOT represent the rate of return for the institution’s investments Rather, the change in the market value of an endowment from FY18 to FY19 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses Rank Institution 123 124 125 126 127 128 129 130 131 132 133 134 135 136 Bryn Mawr College Carleton College Pepperdine University Davidson College University of Massachusetts Foundation, Inc Oregon Health and Science University Foundationvii Denison University The President and Trustees of Colby College Queen's University# Bucknell University Claremont McKenna College Lafayette College Drexel University University System of New Hampshire & University of New Hampshire Foundation, Inc.viii University at Buffalo Foundation Mount Holyoke College Auburn University and Foundation UC San Diego Foundation University of South Carolina System and Affiliated Foundations Colorado Seminary dba University of Denver College of the Holy Cross Clemson University Foundation Macalester College American University of Beirut Colorado College Villanova University Oklahoma State Regents for Higher Education St John's University, New Yorkix Rensselaer Polytechnic Institute The University of Mississippi Foundation Fordham University DePauw University American University University of Louisville Foundation, Inc The Principia Corporation Florida State University Foundation Marquette University DePaul University Furman University Howard University Loyola University of Chicago Yeshiva University Temple University 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 State/ Province FY19 Endowment Funds ($000) PA MN CA NC MA OR OH ME ON PA CA PA PA NH 907,976 892,353 887,461 881,465 881,302 877,758 877,592 869,927 867,210 866,835 865,475 832,068 813,685 803,867 FY18 Endowment Funds ($000) 893,465 878,494 891,846 821,776 842,858 745,744 836,357 828,013 827,855 851,309 835,306 830,637 779,692 776,795 NY MA AL CA SC 794,895 794,204 792,983 792,364 788,261 725,000 777,739 767,361 738,174 809,937 9.64 2.12 3.34 7.34 -2.68 CO MA SC MN NY CO PA OK NY NY MS NY IN DC KY MO FL WI IL SC DC IL NY PA 786,425 785,852 774,514 770,782 768,039 766,910 766,903 756,513 748,873 739,648 736,288 733,516 730,341 723,369 719,816 707,266 704,106 698,021 696,452 694,272 692,832 692,166 665,001 644,089 761,952 783,207 741,802 767,522 731,537 729,897 715,650 747,707 756,099 718,199 713,129 729,179 730,850 695,025 712,295 686,710 681,370 668,567 593,407 702,855 688,562 643,806 647,619 642,326 3.21 0.34 4.41 0.42 4.99 5.07 7.16 1.18 -0.96 2.99 3.25 0.59 -0.07 4.08 1.06 2.99 3.34 4.41 17.36 -1.22 0.62 7.51 2.68 0.27 © Copyright 2020 National Association of College and University Business Officers and TIAA *Change in Market Value (%) 1.62 1.58 -0.49 7.26 4.56 17.70 4.93 5.06 4.75 1.82 3.61 0.17 4.36 3.49 U.S and Canadian Institutions Listed by Fiscal Year 2019 Market Value of Endowment Assets and Percentage Change* in Endowment Market Value from FY18 to FY19 *Note: The change in market value does NOT represent the rate of return for the institution’s investments Rather, the change in the market value of an endowment from FY18 to FY19 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses Rank Institution 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 Trinity College Oregon State University Foundation Hofstra University Rush University Medical Center University of Dayton University of Wisconsin System Office of Trust Funds The University of Western Ontario# WVU Foundation, Inc Creighton University Ohio University and The Ohio University Foundation Reed College Whitman College Miami University Quinnipiac University National Academy of Sciences University of San Diego St Olaf College Lebanese American University University of St Thomas American University at Cairo Haverford College Mississippi State University & Foundation Worcester Polytechnic Institute Whitehead Institute for Biomedical Research University of Wyoming Foundation University of South Florida Foundation, Inc VMI Foundation Inc Kansas State University Foundation Dalhousie University# Wheaton College (IL) MCV Foundation Miami Dade College Duquesne University of the Holy Spirit UC Davis Foundation College of the Ozarks Union College University of the Pacific University of Connecticut and Foundations Babson College University of New Mexico Foundation Dickinson College State/ Province CT OR NY IL OH WI ON WV NE OH OR WA OH CT PA CA MN NY MN Egypt PA MS MA MA WY FL VA KS NS IL VA FL PA CA MO NY CA CT MA NM PA FY19 Endowment Funds ($000) 623,153 622,473 622,235 620,253 604,176 604,171 591,487 589,835 587,024 580,657 579,820 565,256 560,965 556,604 554,000 545,552 544,840 543,358 540,611 535,486 529,487 528,679 528,287 527,896 515,121 513,545 512,179 510,300 507,427 503,366 496,005 491,656 488,351 477,555 476,624 466,372 463,313 462,375 457,670 457,313 455,442 FY18 Endowment Funds ($000) 614,782 595,763 573,574 602,792 568,374 576,611 558,019 593,085 568,813 568,907 577,790 561,010 534,686 526,568 502,000 529,997 530,828 522,991 518,710 536,553 521,538 506,138 519,631 519,177 488,288 480,427 491,862 472,700 490,035 489,131 456,110 486,093 392,814 442,615 509,083 452,304 452,976 447,217 420,115 452,527 437,527 © Copyright 2020 National Association of College and University Business Officers and TIAA *Change in Market Value (%) 1.36 4.48 8.48 2.90 6.30 4.78 6.00 -0.55 3.20 2.07 0.35 0.76 4.91 5.70 10.36 2.93 2.64 3.89 4.22 -0.20 1.52 4.27 1.67 1.68 5.50 6.89 4.13 7.95 3.55 2.91 8.75 1.14 24.32 7.89 -6.38 3.11 2.28 3.39 8.94 1.06 4.09 U.S and Canadian Institutions Listed by Fiscal Year 2019 Market Value of Endowment Assets and Change* in Endowment Market Value from FY18 to FY19 *Note: The change in market value does NOT represent the rate of return for the institution’s investments Rather, the change in the market value of an endowment from FY18 to FY19 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses Rank Institution 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 The University of Toledo Foundation Abilene Christian Universityx Occidental College Clark University Kenyon College Earlham College Philadelphia College of Osteopathic Medicine Chapman Universityxi The University of the South Western Michigan University Foundation Simon Fraser University# Utah State University University of San Francisco The New School Wayne State University Foundation Spelman College Skidmore College University of South Alabama Foundation The University of Puget Sound Rollins College University of Nevada, Reno (UNR)xii Brookings Institution Colorado State University Foundation Medical University of South Carolina Foundation Scripps College Fairfield University Michigan State University Foundation University of Alaska Foundation Barnard College Berklee College of Music, Incorporated Lawrence University of Wisconsin Franklin & Marshall College University of Victoria Foundation# San Diego State University Rhodes College Rhode Island School of Design Ithaca College Teachers College, Columbia University Wabash College SUNY, Stony Brook Foundation West Point Association of Graduates State/ Province OH TX CA MA OH IN PA CA TN MI BC UT CA NY MI GA NY AL WA FL NV DC CO SC CA CT MI AK NY MA WI PA BC CA TN RI NY NY IN NY NY FY19 Endowment Funds ($000) 454,114 451,731 448,095 438,767 422,019 418,845 417,899 417,705 408,769 404,653 403,965 402,862 399,571 399,257 394,509 390,462 384,280 383,512 380,507 379,841 377,446 377,235 376,063 375,593 375,585 374,896 371,500 364,003 363,623 363,026 356,958 354,783 354,053 353,334 352,206 349,660 347,335 345,191 344,252 341,878 335,439 FY18 Endowment Funds ($000) 454,578 427,572 434,234 441,830 413,864 429,202 406,578 392,217 410,986 405,245 372,931 375,424 393,400 392,133 376,467 389,407 376,010 374,210 369,038 379,418 358,433 372,666 355,923 371,301 362,046 362,648 367,920 339,137 345,097 363,673 339,831 352,131 339,264 337,908 359,279 349,751 316,025 315,908 349,670 305,017 311,012 © Copyright 2020 National Association of College and University Business Officers and TIAA *Change in Market Value (%) -0.10 5.65 3.19 -0.69 1.97 -2.41 2.78 6.50 -0.54 -0.15 8.32 7.31 1.57 1.82 4.79 0.27 2.20 2.49 3.11 0.11 5.30 1.23 5.66 1.16 3.74 3.38 0.97 7.33 5.37 -0.18 5.04 0.75 4.36 4.57 -1.97 -0.03 9.91 9.27 -1.55 12.08 7.85 U.S and Canadian Institutions Listed by Fiscal Year 2019 Market Value of Endowment Assets and Percentage Change* in Endowment Market Value from FY18 to FY19 *Note: The change in market value does NOT represent the rate of return for the institution’s investments Rather, the change in the market value of an endowment from FY18 to FY19 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses Rank Institution 248 249 250 251 252 253 254 255 256 257 258 259 Gettysburg College Bates College Centre College The College of Wooster Harvey Mudd College University of Hawaii Foundation Jewell Educational Fund Bradley University St Lawrence University The Citadel Connecticut College University of North Carolina at Greensboro Investment Fund Southwestern University Gonzaga University Saint Joseph's University University of Nevada, Las Vegas Foundation (UNLV Foundation) University of Idaho Foundation, Inc Colorado School of Mines Foundation Muhlenberg College UND Alumni Association and Foundation Hampton University Youngstown State University Foundation Wichita State University Foundation The Catholic University of America Elon University The RAND Corporation Seton Hall University University of California Santa Barbara Willamette Universityxiii Old Dominion University Educational Foundationxiv Valparaiso University Suffolk University Mercy College Stetson University, Inc The Curtis Institute of Music Belmont University University of New Brunswick# Lewis & Clark College University of South Dakota Foundation Medical College of Georgia Foundation, Inc Ohio Wesleyan University 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 FY18 Endowment Funds ($000) 324,007 315,579 322,550 320,178 316,815 321,040 319,588 310,837 305,689 309,194 305,663 293,162 *Change in Market Value (%) PA ME KY OH CA HI MI IL NY SC CT NC FY19 Endowment Funds ($000) 330,714 329,723 329,270 328,921 328,568 326,993 325,522 320,313 315,661 314,435 313,510 307,581 TX WA PA NV 296,413 294,720 294,287 292,336 281,476 275,958 280,331 278,576 5.31 6.80 4.98 4.94 ID CO PA ND VA OH KS DC NC CA NJ CA OR VA IN MA NY FL PA TN NB OR SD GA OH 291,868 289,011 288,974 284,804 282,543 279,778 276,142 273,685 273,429 273,358 264,514 263,100 262,124 261,711 259,042 256,300 255,751 255,416 253,189 252,091 248,874 246,794 244,474 243,556 243,083 280,997 296,420 285,927 278,583 285,345 265,189 264,339 254,870 253,735 272,762 266,857 210,152 257,449 244,784 250,417 249,137 245,534 242,868 257,269 194,161 240,180 239,105 239,210 239,446 239,622 3.87 -2.50 1.07 2.23 -0.98 5.50 4.47 7.38 7.76 0.22 -0.88 25.19 1.82 6.92 3.44 2.88 4.16 5.17 -1.59 29.84 3.62 3.22 2.20 1.72 1.44 State/ Province © Copyright 2020 National Association of College and University Business Officers and TIAA 2.07 4.48 2.08 2.73 3.71 1.85 1.86 3.05 3.26 1.70 2.57 4.92 U.S and Canadian Institutions Listed by Fiscal Year 2019 Market Value of Endowment Assets and Change* in Endowment Market Value from FY18 to FY19 *Note: The change in market value does NOT represent the rate of return for the institution’s investments Rather, the change in the market value of an endowment from FY18 to FY19 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses Rank Institution 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 Kalamazoo College Long Island University Illinois Institute of Technology Washington College The University of Akron Foundation Providence College Loyola University Maryland Inc Hope College Rowan University Allegheny College University of North Carolina at Charlotte Hobart and William Smith Colleges Carleton University# Cal Poly Florida Atlantic University Foundation, Inc University of Maine Foundation North Dakota State University Foundation Drake University University of Ottawa# Columbia Theological Seminary Stevens Institute of Technology John Carroll University St John's Collegexv Stonehill College, Inc Agnes Scott College Florida International University Foundation, Inc Pratt Institute Rose-Hulman Institute of Technology Wheaton College Ball State University Foundation East Carolina University Wofford College University of North Texas Foundation, Inc The University of Scranton Saint John's University Texas State Universityxvi Illinois Wesleyan University University of Montana Foundation Indiana Wesleyan University Goucher College Gustavus Adolphus College Clarkson University State/ Province MI NY IL MD OH RI MD MI NJ PA NC NY ON CA FL ME ND IA ON GA NJ OH MD MA GA FL NY IN MA IN NC SC TX PA MN TX IL MT IN MD MN NY FY19 Endowment Funds ($000) 240,344 238,973 236,887 236,685 235,962 234,228 232,473 232,249 232,094 230,453 230,352 229,107 228,201 227,678 227,520 227,085 226,626 226,155 225,016 224,956 224,304 223,539 217,294 217,240 217,142 216,382 215,667 214,555 212,982 212,834 212,566 211,673 210,624 209,760 208,738 208,459 206,191 205,046 204,472 203,430 203,365 201,698 FY18 Endowment Funds ($000) 240,994 225,534 235,271 226,922 220,789 238,529 228,151 225,656 207,198 220,836 217,594 230,065 208,421 220,535 228,162 220,679 206,650 219,494 218,351 222,489 206,806 225,755 201,017 211,414 229,426 209,237 193,639 208,832 211,881 212,885 200,770 205,991 192,230 205,604 196,766 204,939 205,775 189,510 190,811 214,921 185,271 198,326 © Copyright 2020 National Association of College and University Business Officers and TIAA *Change in Market Value (%) -0.27 5.96 0.69 4.30 6.87 -1.80 1.89 2.92 12.02 4.35 5.86 -0.42 9.49 3.24 -0.28 2.90 9.67 3.03 3.05 1.11 8.46 -0.98 8.10 2.76 -5.35 3.42 11.38 2.74 0.52 -0.02 5.88 2.76 9.57 2.02 6.08 1.72 0.20 8.20 7.16 -5.35 9.77 1.70 U.S and Canadian Institutions Listed by Fiscal Year 2019 Market Value of Endowment Assets and Change* in Endowment Market Value from FY18 to FY19 *Note: The percentage change does NOT represent the rate of return for the institution’s investments Rather, the percentage change in the market value of an endowment from FY18 to FY19 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses Rank Institution 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 Saint Mary's College, Notre Dame IN Hendrix College Xavier University St Mary's University Mills College Simmons University Hardin-Simmons University Pace University Northern Arizona University Foundation Transylvania University Central Michigan University Gallaudet University Lesley University Adelphi University Claremont Graduate University University of South Alabama Bryant University Drew University University of Hartford Hollins University New Mexico State University and New Mexico State University Foundation, Inc University of Redlands Saint Mary's College of California Montana State University Foundation, Inc Baldwin Wallace University California Institute of the Arts Georgia State University Foundation Hampden-Sydney College Sacred Heart University Calvin University Western Kentucky University and Foundations Susquehanna University Augustana College Midwestern University California State University Fresno Foundation Knox College St Ambrose University Columbia College Luther College Washburn University Foundation The University of Central Florida Mennonite Education Agency Investment Fund LLC Saint Anselm College 352 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 FY18 Endowment Funds ($000) 192,618 204,964 179,577 196,013 191,279 194,859 154,625 181,854 186,219 174,647 181,973 182,003 188,812 183,404 186,500 177,817 184,624 175,478 178,755 186,345 175,633 *Change in Market Value (%) IN AR OH TX CA MA TX NY AZ KY MI DC MA NY CA AL RI NJ CT VA NM FY19 Endowment Funds ($000) 201,649 200,680 199,275 196,463 196,404 195,840 194,708 193,049 192,621 191,238 189,322 188,190 187,972 187,211 186,766 185,281 184,753 183,108 182,812 182,729 182,676 CA CA MT OH CA GA VA CT MI KY PA IL IL CA IL IA MO IA KS FL IN NH 182,278 181,313 180,168 179,533 178,839 178,774 177,827 177,133 176,538 175,186 173,197 172,846 170,498 170,315 170,174 170,073 168,869 168,780 166,460 164,722 164,106 164,005 175,943 180,474 178,156 174,763 173,336 167,114 170,668 167,404 160,769 163,151 167,878 168,134 154,812 161,564 160,084 156,949 171,661 168,035 159,487 163,462 162,806 157,861 3.60 0.46 1.13 2.73 3.17 7.00 4.19 5.81 9.81 7.38 3.17 2.80 10.13 5.42 6.30 8.36 -1.63 0.44 4.37 0.77 0.80 3.89 State/ Province © Copyright 2020 National Association of College and University Business Officers and TIAA 4.69 -2.09 10.97 0.23 2.68 0.50 25.92 6.16 3.44 9.50 4.04 3.40 -0.44 2.08 0.14 4.20 0.07 4.35 2.27 -1.94 4.01 U.S and Canadian Institutions Listed by Fiscal Year 2019 Market Value of Endowment Assets and Percentage Change* in Endowment Market Value from FY18 to FY19 *Note: The change in market value does NOT represent the rate of return for the institution’s investments Rather, the change in the market value of an endowment from FY18 to FY19 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses Rank Institution 374 375 376 377 378 379 380 381 382 383 384 385 386 387 388 389 390 391 392 393 University of the Sciences in Philadelphia Embry-Riddle Aeronautical University, Inc Albion College University of Dubuque Ohio Northern Universityxvii Concordia Seminary, St Louis Iona College Meharry Medical College Whitworth University San Jose State University and Tower Foundation Emmanuel College Harding University, Inc Weber State University St Norbert College Asbury Theological Seminary Queens University of Charlotte Southern Illinois University Foundation Austin College Bowling Green State University Foundation The University of Rhode Island Foundation & Alumni Engagement Roanoke College Mount Allison University# Hanover College St Louis College of Pharmacy Illinois State University Foundation Pitzer College Concordia College University of the Incarnate Word Messiah College University of Chattanooga Foundation, Inc Kent State University Foundation University of Mount Union The Marshall University Foundation, Inc Webster University The Culinary Institute of America Alfred University University of Maine System San Francisco State University Foundation Indiana Institute of Technology, Inc Buena Vista University Washington & Jefferson College 394 395 396 397 398 399 400 401 402 403 404 405 406 407 408 409 410 411 412 413 414 State/ Province FY19 Endowment Funds ($000) PA FL MI IA OH MO NY TN WA CA MA AR UT WI KY NC IL TX OH RI 162,527 161,405 161,113 160,530 160,300 160,249 159,938 159,146 156,048 153,212 151,725 151,411 150,522 150,476 150,440 150,237 149,980 149,667 149,438 149,154 FY18 Endowment Funds ($000) 172,140 134,498 167,983 159,857 165,900 150,615 143,741 159,908 151,179 150,056 137,310 141,605 140,781 145,808 148,291 149,744 145,875 141,755 138,038 139,578 VA NB IN MO IL CA MN TX PA TN OH OH WV MO NY NY ME CA IN IA PA 148,794 148,241 146,078 144,776 144,435 144,365 143,479 142,071 141,904 141,886 141,403 140,318 140,181 139,792 138,298 138,254 137,928 137,080 137,039 136,568 134,923 145,446 144,422 143,607 144,532 128,825 141,465 134,703 142,015 142,173 131,752 138,118 137,060 127,891 129,167 136,379 129,318 131,231 90,779 131,111 138,108 136,362 © Copyright 2020 National Association of College and University Business Officers and TIAA *Change in Market Value (%) -5.58 20.01 -4.09 0.42 -3.38 6.40 11.27 -0.48 3.22 2.10 10.50 6.92 6.92 3.20 1.45 0.33 2.81 5.58 8.26 6.86 2.30 2.64 1.72 0.17 12.12 2.05 6.52 0.04 -0.19 7.69 2.38 2.38 9.61 8.23 1.41 6.91 5.10 51.01 4.52 -1.12 -1.06 U.S and Canadian Institutions Listed by Fiscal Year 2019 Market Value of Endowment Assets and Change* in Endowment Market Value from FY18 to FY19 *Note: The change in market value does NOT represent the rate of return for the institution’s investments Rather, the change in the market value of an endowment from FY18 to FY19 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses Rank Institution 415 416 417 418 419 420 421 422 423 424 425 426 427 428 429 430 431 432 McDaniel College South Dakota State University Foundation Grand Valley State University Ursinus College Oklahoma Baptist University Illinois College New Jersey Institute of Technology Canisius College Troy University Foundation University of Northern Iowa Foundation East Tennessee State University Austin Presbyterian Theological Seminary John Brown University Seattle Pacific University Roosevelt University Monmouth College Juniata College The Foundation of the State University of New York at Binghamton, Inc Wittenberg University California State University, Northridge North Central College Sarah Lawrence College Sam Houston State University Westminster College University of North Florida Wentworth Institute of Technology University of the Ozarks Boise State University Foundation, Inc Meredith College Fort Hays State University Foundation Board of Trustees of Beloit College Doane University Michigan Technological University Goshen College George Mason University Foundation, Inc University of Lynchburg Whittier College Union Theological Seminary Elmhurst College University of La Verne Carthage College James Madison University Foundation, Inc Cottey College 433 434 435 436 437 438 439 440 441 442 443 444 445 446 447 448 449 450 451 452 453 454 455 456 457 FY18 Endowment Funds ($000) 131,738 124,098 127,801 131,895 134,477 137,754 120,068 133,912 120,007 127,006 122,862 125,838 120,037 114,116 122,246 118,155 120,924 114,286 *Change in Market Value (%) MD SD MI PA OK IL NJ NY AL IA TN TX AR WA IL IL PA NY FY19 Endowment Funds ($000) 134,764 132,678 132,091 131,213 130,508 129,905 129,455 129,201 129,192 129,019 127,684 127,642 125,570 124,901 123,353 122,619 120,223 119,422 OH CA IL NY TX PA FL MA AR ID NC KS WI NE MI IN VA VA CA NY IL CA WI VA MO 119,174 119,016 118,586 117,046 116,921 116,515 116,186 116,142 115,068 115,056 114,786 114,719 114,121 113,944 113,645 113,643 113,199 112,879 112,868 112,560 112,339 111,994 111,496 111,065 110,200 115,956 110,710 115,883 112,735 118,129 122,798 112,498 112,634 114,828 107,955 112,550 97,611 145,407 112,859 115,254 112,179 91,758 109,550 106,224 111,819 108,545 102,271 108,980 103,924 111,273 2.78 7.50 2.33 3.82 -1.02 -5.12 3.28 3.11 0.21 6.58 1.99 17.53 -21.52 0.96 -1.40 1.30 23.37 3.04 6.26 0.66 3.50 9.51 2.31 6.87 -0.96 State/ Province © Copyright 2020 National Association of College and University Business Officers and TIAA 2.30 6.91 3.36 -0.52 -2.95 -5.70 7.82 -3.52 7.65 1.59 3.92 1.43 4.61 9.45 0.91 3.78 -0.58 4.49 U.S and Canadian Institutions Listed by Fiscal Year 2019 Market Value of Endowment Assets and Change* in Endowment Market Value from FY18 to FY19 *Note: The change in market value does NOT represent the rate of return for the institution’s investments Rather, the change in the market value of an endowment from FY18 to FY19 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses Rank Institution 458 459 460 461 462 463 464 465 466 467 468 469 470 471 472 473 474 475 476 477 478 479 480 481 482 483 484 485 486 487 488 489 490 491 492 493 494 495 496 497 498 499 University of Indianapolis SUNY Health Science Center at Syracuse Luther Seminary California Lutheran University Linfield College Eastern Virginia Medical School Foundation Manhattan College Monmouth University St Edward's University Hood College of Frederick MD Millikin University Capital University Middle Tennessee State University Northern Kentucky University, Foundation, Inc University of North Carolina at Wilmington University of Southern Mississippi Foundation Curry College Noblis, Inc Assumption College California State Polytechnic University, Pomona Otterbein University Trustees of the Hamline University of Minnesota College of Charleston Foundation ArtCenter College of Design Oakland University Taylor University Florida Agricultural and Mechanical University Northwood University St John Fisher College Niagara University Wright State University Foundation, Inc Drury University Bridgewater College Endicott College McMurry University Texas Lutheran University Widener University Maryland Institute College of Art Ripon College Chatham University Franklin University DeSales University State/ Province IN NY MN CA OR VA NY NJ TX MD IL OH TN KY NC MS MA VA MA CA OH MN SC CA MI IN FL MI NY NY OH MO VA MA TX TX PA MD WI PA OH PA FY19 Endowment Funds ($000) 109,448 109,069 108,716 108,602 108,080 107,959 107,174 107,085 107,026 106,905 106,893 106,663 105,575 105,501 104,946 104,878 103,667 102,946 102,942 101,599 101,386 100,550 100,136 99,432 99,399 98,717 98,213 97,869 97,743 97,242 97,080 96,517 95,758 95,673 94,536 94,530 94,454 94,441 94,328 94,216 93,156 91,841 FY18 Endowment Funds ($000) 107,805 100,580 104,834 105,544 124,538 97,967 96,995 99,463 105,114 99,716 108,327 107,914 103,146 106,215 101,729 100,763 98,918 90,903 108,439 99,711 97,776 97,241 92,159 97,518 95,008 95,906 96,350 99,466 93,065 102,392 92,847 97,510 96,963 88,722 90,162 96,707 91,595 89,968 92,791 92,931 91,917 87,843 © Copyright 2020 National Association of College and University Business Officers and TIAA *Change in Market Value (%) 1.52 8.44 3.70 2.90 -13.22 10.20 10.49 7.66 1.82 7.21 -1.32 -1.16 2.35 -0.67 3.16 4.08 4.80 13.25 -5.07 1.89 3.69 3.40 8.66 1.96 4.62 2.93 1.93 -1.61 5.03 -5.03 4.56 -1.02 -1.24 7.83 4.85 -2.25 3.12 4.97 1.66 1.38 1.35 4.55 U.S and Canadian Institutions Listed by Fiscal Year 2019 Market Value of Endowment Assets and Change* in Endowment Market Value from FY18 to FY19 *Note: The change in market value does NOT represent the rate of return for the institution’s investments Rather, the change in the market value of an endowment from FY18 to FY19 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses FY19 FY18 *Change in State/ Endowment Endowment Market Value Rank Institution Funds Funds Province (%) ($000) ($000) 500 Fairleigh Dickinson University NJ 91,625 87,713 4.46 501 Presbyterian College SC 91,533 91,855 -0.35 502 Lake Forest College IL 90,630 92,008 -1.50 503 Kettering University MI 90,353 86,553 4.39 504 University of Northern Colorado Foundation, Inc CO 89,775 87,023 3.16 505 Murray State University KY 89,480 83,203 7.54 506 Saint Michael's College VT 89,061 89,921 -0.96 507 Concordia University WI 88,859 84,911 4.65 508 Western Carolina University NC 88,701 85,641 3.57 509 Marietta College OH 88,469 86,027 2.84 510 Florida Institute of Technology FL 87,759 82,652 6.18 511 Saginaw Valley State University Foundation MI 87,436 86,175 1.46 512 Franklin College IN 87,387 87,619 -0.26 513 Ferris State University MI 87,355 78,749 10.93 514 Roger Williams University RI 86,049 87,782 -1.97 515 University of Evansville IN 85,667 88,762 -3.49 516 Palm Beach Atlantic University FL 85,236 84,139 1.30 517 Arkansas State University System Foundation, Inc AR 84,430 78,091 8.12 518 Lipscomb University TN 84,430 84,634 -0.24 519 Eastern Illinois University Foundation IL 84,387 86,032 -1.91 520 Westminster College of Salt Lake City UT 84,349 81,166 3.92 521 Elizabethtown College PA 83,797 80,710 3.82 522 University of Arkansas Fort Smith Foundation AR 83,733 83,118 0.74 523 College of Saint Benedict MN 83,506 78,105 6.92 524 Brite Divinity School TX 83,303 84,861 -1.84 525 New York Medical College NY 83,043 82,786 0.31 526 Arcadia University PA 82,645 71,753 15.18 527 University of Wisconsin - Eau Claire Foundation, Inc WI 81,094 80,998 0.12 528 Portland State University Foundation OR 80,341 74,206 8.27 529 La Salle University PA 80,311 85,074 -5.60 530 Northern Illinois University Foundation IL 80,065 79,256 1.02 531 Texas Woman's University TX 79,577 71,963 10.58 532 North Park University IL 79,527 76,874 3.45 533 Montclair State University Foundation NJ 79,490 74,310 6.97 534 Muskingum University OH 79,461 79,308 0.19 535 California State University, Long Beach 49er Foundation CA 79,352 77,175 2.82 536 Central College IA 79,161 80,644 -1.84 537 Florida Southern College FL 79,136 77,741 1.79 538 Emporia State University Foundation, Inc KS 79,116 77,134 2.57 539 Westmont College CA 78,908 83,999 -6.06 540 Converse College SC 78,372 78,740 -0.47 541 Guilford College NC 78,308 78,153 0.20 © Copyright 2020 National Association of College and University Business Officers and TIAA U.S and Canadian Institutions Listed by Fiscal Year 2019 Market Value of Endowment Assets and Change in Endowment Market Value from FY18 to FY19 *Note: The change in market value does NOT represent the rate of return for the institution’s investments Rather, the change in the market value of an endowment from FY18 to FY19 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses FY18 FY19 *Change in State/ Endowment Endowment Market Value Rank Institution Funds Funds Province (%) ($000) ($000) 542 Eastern Michigan University Foundation MI 78,171 76,014 2.84 543 Reformed Theological Seminary MS 78,155 79,380 -1.54 544 McCormick Theological Seminary IL 78,025 79,854 -2.29 545 Springfield College MA 77,932 75,776 2.85 546 Wagner College NY 77,564 78,493 -1.18 547 Western Washington University Foundation WA 77,349 71,728 7.84 548 Foundation for California Community Colleges CA 77,308 77,154 0.20 549 Albright College PA 77,103 71,181 8.32 550 Hartwick College NY 76,792 77,304 -0.66 551 Pittsburg State University Foundation, Inc KS 76,528 74,328 2.96 552 University of West Florida Foundation, Inc FL 76,399 75,191 1.61 553 Cornell College IA 76,288 77,722 -1.85 554 University at Albany Foundation NY 75,126 71,701 4.78 555 Valencia College Foundation FL 74,855 74,332 0.70 556 St Bonaventure University NY 74,402 70,192 6.00 557 University of New Orleans Foundation LA 74,206 73,240 1.32 558 College of Central Florida Foundation, Inc FL 72,029 71,664 0.51 559 Lebanon Valley College PA 71,832 70,471 1.93 560 Foundation for the University of the Virgin Islands (FUVI) VI 71,684 61,889 15.83 561 Longwood University Foundation VA 71,363 70,148 1.73 562 Nazareth College of Rochester NY 71,318 69,091 3.22 563 Tennessee Tech University TN 71,287 67,192 6.09 564 Pacific University OR 71,234 68,715 3.67 565 Carroll University WI 71,164 62,143 14.52 566 Flagler College, Inc FL 69,919 68,693 1.79 567 Regis University CO 69,773 65,141 7.11 568 Columbus State University Foundation, Inc GA 69,502 64,475 7.80 569 University of Detroit Mercy MI 69,300 63,253 9.56 570 Eastern Kentucky University Foundation KY 69,139 69,329 -0.27 571 Cal State Fullerton Philanthropic Foundation CA 68,755 64,984 5.80 572 North Carolina A&T State University and Foundation NC 68,459 63,638 7.58 573 Clark College Foundation WA 68,108 65,193 4.47 574 Shenandoah University VA 68,105 66,139 2.97 575 Indiana State University Foundation, Inc IN 67,714 65,986 2.62 576 Keck Graduate Institute CA 67,477 65,512 3.00 577 Rider University NJ 66,593 64,283 3.59 578 Webb Institute NY 66,556 67,110 -0.83 579 Bellarmine University KY 66,331 66,864 -0.80 580 California Baptist University CA 65,618 53,909 21.72 581 Gannon University PA 65,364 63,600 2.77 582 The University Foundation, California State University CA 65,293 64,729 0.87 Chico 583 South Dakota School of Mines & Technology Foundation SD 65,076 60,990 6.70 © Copyright 2020 National Association of College and University Business Officers and TIAA U.S and Canadian Institutions Listed by Fiscal Year 2019 Market Value of Endowment Assets and Change* in Endowment Market Value from FY18 to FY19 *Note: The change in market value does NOT represent the rate of return for the institution’s investments Rather, the change in the market value of an endowment from FY18 to FY19 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses FY19 FY18 *Change in State/ Endowment Endowment Market Value Rank Institution Funds Funds Province (%) ($000) ($000) 584 High Point University NC 64,777 60,778 6.58 585 Manchester University IN 64,470 62,458 3.22 586 Salve Regina University RI 63,790 62,711 1.72 587 Howard Payne University TX 62,865 63,018 -0.24 588 Broward College Foundation, Inc FL 62,188 63,968 -2.78 589 Saint Mary's University of Minnesota MN 61,788 65,102 -5.09 590 University of Northern British Columbia# BC 61,370 59,019 3.99 591 Tennessee State University Foundation TN 61,110 58,697 4.11 592 Eckerd College FL 60,579 58,313 3.89 593 Freed-Hardeman University TN 60,338 56,798 6.23 594 Mount St Joseph University OH 59,654 39,715 50.20 595 Texas Wesleyan University TX 59,523 62,012 -4.01 596 Palmer College of Chiropractic IA 58,825 55,450 6.09 597 New York Chiropractic College NY 58,663 57,950 1.23 598 Minnesota State University Mankato Foundation Inc MN 57,957 57,564 0.68 599 Winthrop University Foundation SC 57,949 54,521 6.29 600 Virginia State University VA 57,383 54,479 5.33 601 Houghton College NY 57,372 56,151 2.17 602 Northampton County Area Community College Foundation PA 57,014 51,901 9.85 603 Minneapolis College of Art and Design MN 56,731 55,257 2.67 604 Western New England University MA 56,683 52,938 7.07 605 Georgia Southern University Foundation, Inc GA 56,324 49,747 13.22 606 Radford University Foundation, Inc VA 56,080 56,530 -0.80 607 Salisbury University Foundation, Inc MD 56,034 53,858 4.04 608 Viterbo University, Inc WI 55,673 53,984 3.13 609 University of Mary Washington VA 55,479 50,641 9.55 610 Wilson College PA 55,338 58,077 -4.72 611 Georgian Court University NJ 54,858 54,635 0.41 612 Misericordia University PA 54,532 52,359 4.15 613 Maryville University MO 54,237 55,046 -1.47 614 Holy Names University CA 54,171 51,918 4.34 615 Wilkes University PA 54,044 51,398 5.15 616 Ringling College of Art and Design, Inc FL 53,537 50,288 6.46 617 University of North Carolina at Asheville NC 53,521 51,396 4.13 618 Ferrum College VA 53,517 52,752 1.45 619 Friends University KS 53,324 51,832 2.88 620 LaGrange College GA 53,005 49,410 7.28 621 Saint Francis University PA 52,713 50,428 4.53 622 Sonoma State University Foundation CA 52,281 49,081 6.52 623 Heidelberg University OH 51,987 52,246 -0.49 624 State University College at Oneonta NY 51,718 50,072 3.29 © Copyright 2020 National Association of College and University Business Officers and TIAA U.S and Canadian Institutions Listed by Fiscal Year 2019 Market Value of Endowment Assets and Change* in Endowment Market Value from FY18 to FY19 *Note: The change does NOT represent the rate of return for the institution’s investments Rather, the change in the market value of an endowment from FY18 to FY19 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses Rank Institution 625 Coastal Educational Foundation (Coastal Carolina University) Graduate Theological Union Samuel Merritt University Warren Wilson College University Foundation at Sacramento State Gateway Seminary Augsburg University William Peace University University of Baltimore Foundation Winston-Salem State University and Foundation Brenau University Bank Street College of Education Bloomsburg University Foundation Salus University Alabama A&M University Hartford Seminary Foundation SUNY Cortland College Foundation, Inc McPherson College Golden Gate University Jacksonville University Erikson Institute Southern Adventist University Morningside College Lasell University Coker University Cleveland Institute of Music Barry University Inc Carroll College Bethany Lutheran College Mount Aloysius College Rust College Concordia University, St Paul San Francisco Conservatory of Music Covenant College California State University Los Angeles Foundation University of Mary Olivet University Oswego College Foundation, Inc Loras College Rivier University CSUSB Philanthropic Foundation The University of Findlay 626 627 628 629 630 631 632 633 634 635 636 637 638 639 640 641 642 643 644 645 646 647 648 649 650 651 652 653 654 655 656 657 658 659 660 661 662 663 664 665 666 FY18 Endowment Funds ($000) 44,670 *Change in Market Value (%) SC FY19 Endowment Funds ($000) 51,483 CA CA NC CA CA MN NC MD NC GA NY PA PA AL CT NY KS CA FL IL TN IA MA SC OH FL MT MN PA MS MN CA GA CA ND IL NY IA NH CA OH 51,475 51,316 51,270 51,241 50,975 50,786 50,222 49,878 49,755 49,482 49,109 49,000 48,896 48,029 47,901 47,652 47,125 46,828 46,743 46,655 46,402 46,271 45,910 45,680 45,622 45,448 44,828 44,117 43,986 43,445 43,415 43,146 42,681 42,528 42,496 42,292 41,850 41,584 41,389 41,118 41,100 51,293 51,862 52,617 48,046 51,745 48,220 35,635 49,001 46,214 47,904 47,734 44,000 46,228 46,169 46,996 45,091 47,295 48,261 44,737 50,470 43,220 46,622 42,507 45,713 46,352 43,981 41,412 44,260 43,616 40,399 41,575 42,871 42,048 40,071 41,158 37,517 37,418 36,104 39,868 39,642 39,459 0.36 -1.05 -2.56 6.65 -1.49 5.32 40.93 1.79 7.66 3.29 2.88 11.36 5.77 4.03 1.93 5.68 -0.36 -2.97 4.48 -7.56 7.36 -0.75 8.01 -0.07 -1.57 3.34 8.25 -0.32 0.85 7.54 4.42 0.64 1.50 6.13 3.25 12.73 11.84 15.18 3.82 3.72 4.16 State/ Province © Copyright 2020 National Association of College and University Business Officers and TIAA 15.25 U.S and Canadian Institutions Listed by Fiscal Year 2019 Endowment Market Value and Percentage Change* in Endowment Market Value from FY18 to FY19 *Note: The change in market value does NOT represent the rate of return for the institution’s investments Rather, the change in the market value of an endowment from FY18 to FY19 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses Rank Institution 667 668 669 670 671 672 673 674 675 676 677 678 679 680 681 682 683 684 685 686 687 688 689 690 691 692 693 694 695 696 697 698 699 700 701 702 703 704 705 706 Molloy College Montana Tech Foundation Marywood University Lorain County Community College Foundation Dominican University Colby-Sawyer College University of New England SUNY Fredonia College Foundation Northwest College Foundation The Sage Colleges Clarion University Foundation, Inc Robert Morris University Shippensburg University Foundation Cedar Crest College Wisconsin Lutheran College Cedarville University Rockhurst University Broome Community College Foundation, Inc SUNY Potsdam College Foundation, Inc National Louis University California College of the Arts Notre Dame of Maryland University Cuesta College Foundation Colorado Mesa University Foundation University of Saint Joseph Delaware Valley University St Mary's College of Maryland Foundation, Inc Central Piedmont Community College Foundation North Iowa Area Community College Foundation The College of New Jersey Foundation, Inc Rocky Mountain College The Worcester State Foundation Inc Kutztown University Foundation, Inc Georgia Southwestern Foundation, Inc Roberts Wesleyan Manhattanville College Sinclair Community College Foundation Southern Connecticut State University Foundation University of Sioux Falls Humboldt State University Foundation State/ Province FY19 Endowment Funds ($000) FY18 Endowment Funds ($000) *Change in Market Value (%) NY MT PA OH IL NH ME NY WY NY PA PA PA PA WI OH MO NY NY IL CA MD CA CO CT PA MD NC IA NJ MT MA PA GA NY NY OH CT SD CA 40,759 40,731 40,574 40,485 40,445 39,449 39,304 38,955 38,942 38,937 38,741 37,013 36,907 36,651 36,629 36,485 36,471 36,241 36,188 36,103 36,040 35,835 35,196 34,875 34,781 33,623 33,370 33,276 32,433 32,189 32,055 32,013 31,867 31,375 31,300 31,170 30,718 30,520 30,327 30,294 38,240 39,158 37,962 39,356 35,577 37,515 37,614 35,354 38,714 36,977 36,580 36,296 35,092 34,689 34,597 30,202 33,199 33,096 33,112 36,458 33,722 36,566 33,882 30,158 33,519 32,859 32,872 30,399 30,295 26,788 30,891 30,520 30,625 30,730 27,570 30,839 30,913 27,957 30,435 30,059 6.58 4.02 6.88 2.87 13.68 5.16 4.49 10.19 0.59 5.30 5.91 1.97 5.17 5.66 5.87 20.80 9.86 9.50 9.29 -0.97 6.87 -2.00 3.88 15.64 3.77 2.33 1.51 9.46 7.06 20.16 3.77 4.89 4.06 2.10 13.53 1.08 -0.63 9.17 -0.35 0.78 © Copyright 2020 National Association of College and University Business Officers and TIAA U.S and Canadian Institutions Listed by Fiscal Year 2019 Endowment Market Value and Percentage Change* in Endowment Market Value from FY18 to FY19 *Note: The change in market value does NOT represent the rate of return for the institution’s investments Rather, the change in the market value of an endowment from FY18 to FY19 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses FY19 FY18 *Change in State/ Endowment Endowment Market Value Rank Institution Funds Funds Province (%) ($000) ($000) 707 Mary Baldwin University VA 30,179 33,353 -9.51 708 St Thomas University FL 29,605 29,003 2.07 709 Culver-Stockton College MO 29,467 28,351 3.93 710 Clarke University IA 29,340 29,217 0.42 711 Walla Walla University WA 28,836 27,433 5.11 712 American University in Bulgaria DC 28,300 27,409 3.25 713 Brevard College NC 28,160 28,719 -1.95 714 Tri-County Technical College Foundation, Inc SC 27,343 25,599 6.81 715 California State University Monterey Bay CA 27,084 23,915 13.25 716 Southern Illinois University Edwardsville Foundation IL 26,568 23,680 12.20 717 California State University San Marcos Foundation CA 26,289 25,007 5.12 718 Lamar University TX 26,222 25,055 4.66 719 Grand View University IA 25,734 25,022 2.85 720 Delta College MI 25,581 24,145 5.95 721 California State University, Bakersfield, Foundation CA 25,474 25,730 -0.99 722 UNC School of the Arts NC 25,458 22,898 11.18 723 Meadville Lombard Theological School IL 25,442 25,182 1.03 724 William Rainey Harper College Educational Foundation IL 25,382 17,459 45.38 725 California State University Foundation CA 25,106 25,070 0.14 726 University of North Carolina at Pembroke NC 24,886 24,028 3.57 727 Utica College NY 24,796 24,456 1.39 728 Spring Hill College AL 24,768 23,347 6.08 729 Vaughn College of Aeronautics and Technology NY 24,465 24,009 1.90 730 Norfolk State University Foundation VA 24,435 24,755 -1.29 731 Fayetteville State University NC 24,341 22,688 7.29 732 Eastern Washington University Foundation WA 24,195 22,574 7.18 733 Marshall B Ketchum University CA 23,988 24,209 -0.91 734 Peirce College PA 23,557 23,261 1.27 735 Chaminade University of Honolulu HI 23,399 22,793 2.66 736 Central Oregon Community College Foundation OR 22,459 21,122 6.33 737 Shepherd University Foundation WV 22,145 16,017 38.26 738 Spartanburg Methodist College SC 22,069 22,227 -0.71 739 LeTourneau University TX 22,055 21,707 1.60 740 Lubbock Christian University TX 22,015 19,695 11.78 741 Plattsburgh College Foundation, Inc NY 21,695 21,105 2.80 742 Ramapo College of New Jersey NJ 21,364 20,657 3.42 743 Averett University VA 21,268 22,369 -4.92 744 Greenville University IL 21,160 20,196 4.77 745 University of St Francis IL 20,877 19,786 5.51 746 Bradford Educational Foundation - University of PA 20,797 19,174 8.46 Pittsburgh at Bradford 747 West Chester University Foundation PA 20,522 15,990 28.34 748 Ohio Dominican University OH 20,161 22,588 -10.74 749 Thomas College ME 19,614 18,060 8.60 © Copyright 2020 National Association of College and University Business Officers and TIAA U.S and Canadian Institutions Listed by Fiscal Year 2019 Endowment Market Value and Change* in Endowment Market Value from FY18 to FY19 *Note: The change in market value does NOT represent the rate of return for the institution’s investments Rather, the change in the market value of an endowment from FY17 to FY18 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses Rank Institution 750 751 752 753 754 755 756 757 758 759 760 761 762 763 764 765 766 767 768 769 770 771 772 773 Shawnee State University Development Foundation Spring Arbor University Defiance College Cal State East Bay Educational Foundation The Foundation for Florida Gateway College Kalamazoo Valley Community College Lakeland University Foundation, Inc Nichols College Trinity Western University# California State University Stanislaus Church Divinity School of the Pacific California State University Channel Islands Dakota State University Foundation Polytechnic University of Puerto Rico Northern Michigan University Faulkner University New England College Massachusetts College of Liberal Arts Foundation, Inc California State University, Dominguez Hills Foundation Northeast State Community College Boston Architectural College Pellissippi State Community College Foundation Weber State University Foundation J Sargeant Reynolds Community College Educational Foundation Cornerstone University Walsh College of Accountancy & Business Administration Blue Ridge Community College Educational Foundation, Inc Midlands Technical College Foundation The California Maritime Academy Foundation, Inc Indiana University of Pennsylvania Centenary University Hillsborough Community College Foundation, Inc Elgin Community College Foundation Metropolitan State University Foundation Mount Saint Mary College Oakton Community College Educational Foundation John Tyler Community College Foundation, Inc 774 775 776 777 778 779 780 781 782 783 784 785 786 Average Median State/ Province FY19 Endowment Funds ($000) OH MI OH CA FL MI WI MA BC CA CA CA SD PR MI AL NH MA CA TN MA TN UT VA 19,300 19,244 19,129 17,838 17,831 17,756 17,731 17,345 16,908 16,552 16,243 16,050 15,811 15,476 15,400 15,240 14,646 13,544 12,543 12,483 11,822 11,604 11,356 11,299 FY18 Endowment Funds ($000) 19,419 17,842 19,159 17,091 16,831 17,599 17,032 15,417 16,033 16,359 23,103 15,718 18,201 14,578 15,436 15,590 14,053 12,840 10,394 10,557 11,841 10,601 11,263 10,574 MI MI 10,434 9,730 10,570 9,404 -1.29 3.46 VA 9,499 8,438 12.58 SC CA PA NJ FL IL MN NY IL VA 9,289 9,247 7,615 7,330 7,219 6,973 6,017 5,998 5,605 3,785 8,074 8,764 7,076 7,077 6,132 6,405 5,650 5,701 5,484 3,662 15.04 5.50 7.62 3.58 17.73 8.86 6.48 5.21 2.20 3.35 - 816,369 148,794 783,183 141,680 4.24 5.02 See next page for explanatory notes and endnotes © Copyright 2020 National Association of College and University Business Officers and TIAA *Change in Market Value (%) -0.61 7.86 -0.16 4.37 5.94 0.89 4.10 12.50 5.46 1.18 -29.69 2.11 -13.13 6.16 -0.23 -2.25 4.22 5.48 20.68 18.24 -0.16 9.46 0.82 6.85 Notes: N/A=Not Available *Endowment market values data for these institutions were added and/or revised after the NTSE data collection period Data for this institution may not match previously released tables # Endowment market value data for Canadian institutions are expressed in U.S dollars, based on the U.S./Canadian dollar exchange rates in effect on or around June 30, 2018 (0.7594) and June 30, 2019 (0.7641), as reported by the Bank of Canada (https://www.bankofcanada.ca/rates/exchange/) Data from Canadian institutions is NOT included in the full 2019 NTSE report This table was prepared in February 2020 Changes to endowment values reported after February are not incorporated in the full 2019 NTSE report Endnotes: i Total includes the endowment assets from The Texas A&M University System and multiple supporting foundations, including the Texas A&M Foundation The full 2019 NTSE report includes separate information for the Texas A&M University System, Texas A&M Foundation, and the Baylor Oral Health Foundation (which provides financial support to the Texas A&M University Baylor College of Dentistry) ii Fiscal year end date for New York University is August 31 but the endowment market values are reported for the year ending June 30 iii Total includes the combined endowment assets of Carnegie Mellon University and a portion of assets held by the Dietrich Foundation reflecting CMU’s allocation as a named beneficiary The full 2019 NTSE report reflects information for the CMU endowment only iv Total includes the combined endowment assets from the University of Illinois and the University of Illinois Foundation The full 2019 NTSE report incorporates separate information for each of these individual institutions v University of Miami's fiscal year-end is 5/31 Endowment values for FY19 and FY18 are reported for May 31, 2019 and May 31, 2018, respectively vi Total endowment includes data from all institutions in the Louisiana State University (LSU) System However, the full 2019 NTSE report is based on data solely from the LSU Foundation, the largest segment vii Total includes combined endowment assets from the Oregon Health and Sciences University Foundation and the Doernbecher Children’s Hospital Foundation viii Total includes the combined endowment assets from the University System of New Hampshire and the University of New Hampshire Foundation The full 2019 NTSE report incorporates separate information for each of these individual institutions ix St John's University's fiscal year-end is 5/31 Endowment values for FY19 and FY18 are reported for May 31, 2019 and May 31, 2018, respectively x Abilene Christian University's fiscal year-end is 5/31 but endowment values are reported for 6/30 xi Chapman University’s fiscal year-end date is 5/31 The endowment values shown are for 5/31/2018 (for FY18) and 5/31/2017 (for FY17) xii Total includes the combined assets from the University of Nevada, Reno (UNR) endowment, UNR Foundation, and the Athletic Association of Nevada, Reno Endowment xiii Willamette University's fiscal year-end is 5/31 but endowment values are reported for the year ending 6/30 xiv Total includes the combined assets from the Old Dominion University endowment, the Educational Foundation, the Athletic Foundation, and the Real Estate Foundation xv Also includes data from the Santa Fe, New Mexico campus xvi Texas State University's fiscal year-end is 8/31 The endowment values for FY19 and FY18 are for August 31, 2019 and August 31, 2018, respectively xvii Ohio Northern University's fiscal year-end is 5/31 but endowment values are reported for 6/30 © Copyright 2020 National Association of College and University Business Officers and TIAA  ... FY19 Endowment Funds ($000) 109 ,448 109 ,069 108 ,716 108 ,602 108 ,080 107 ,959 107 ,174 107 ,085 107 ,026 106 ,905 106 ,893 106 ,663 105 ,575 105 ,501 104 ,946 104 ,878 103 ,667 102 ,946 102 ,942 101 ,599 101 ,386... 110, 200 115,956 110, 710 115,883 112,735 118,129 122,798 112,498 112,634 114,828 107 ,955 112,550 97,611 145,407 112,859 115,254 112,179 91,758 109 ,550 106 ,224 111,819 108 ,545 102 ,271 108 ,980 103 ,924... Endowment Funds ($000) 107 ,805 100 ,580 104 ,834 105 ,544 124,538 97,967 96,995 99,463 105 ,114 99,716 108 ,327 107 ,914 103 ,146 106 ,215 101 ,729 100 ,763 98,918 90,903 108 ,439 99,711 97,776 97,241 92,159