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Endowment Management

College and university endowments are collections of funds that support students, staff, and the institution’s mission. Endowment funds are designed to be sustainable over the long term, typically to honor an institution’s promise to a donor’s intent for their gift in perpetuity. Chief business officers manage endowments to be perpetual, growing, and consistent sources of revenue for colleges and universities, supporting students today and alumni of the future.

Related Reading

Endowment Management, College and University Business Administration

Tax Primer: A Brief Introduction to Higher Education Tax Policy Issues

UPMIFA Resources

On-Demand Webcasts

Hedge Funds and Endowments' Operational Infrastructure

Ethics and Financial Markets: What Every Endowment Management Professional Should Know

Talking Points for Business Officers

Endowments and Charitable Giving


Jacalyn Askin

Senior Fellow, Finance and Campus Management



Final Report for the 2016 NACUBO Commonfund Study of Endowments is Now Available

March 10, 2017

Free to participating institutions, the final report provides information on college and university endowment investment rates of return, asset allocations, and other related issues during FY16.

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  • July 01, 2019

    Treasury and IRS Propose Regulations on Endowment Excise Tax

    The guidance explains how certain colleges and universities should apply the excise tax on endowments enacted as part of the Tax Cuts and Jobs Act.

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  • March 11, 2019

    Final Report for the 2018 NACUBO-TIAA Study of Endowments Now Available

    The publication, which can be purchased online, provides information on college and university endowment investment rates of return, asset allocations, and other related issues during FY18.

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Press Release

  • January 31, 2017

    2016 NACUBO-Commonfund Study of Endowments (Final Data)

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  • August 03, 2016

    NACUBO Offers Resources on College and University Endowments

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  • February 09, 2016

    NACUBO Statement on Endowment Inquiry

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  • January 29, 2015

    Building on 11.7% Gain in FY2013, Educational Endowments' Investment Returns Averaged 15.5% in FY2014

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  • August 28, 2019

    NACUBO-TIAA Study of Endowments

    This annual survey provides comprehensive analysis of investment returns, asset allocations, and governance policies and practices at more than 800 U.S. higher education institution endowments and affiliated foundations, representing nearly $617 billion in endowment assets.

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  • March 25, 2019

    NTSE Frequently Asked Questions

    A list of common questions and answers about the NACUBO-TIAA Study of Endowments

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  • March 14, 2019

    2018 NACUBO-TIAA Study of Endowments Sponsors

    Thanks to the many corporate sponsors for their support of the annual endowment study.

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  • March 14, 2019

    Historic Endowment Study Data

    Historical endowment market values and investment returns, net of fees, for endowment study participants from 1990 to 2017

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  • January 31, 2019

    Public NTSE Tables

    Public NTSE tables provide an overview of investment returns, asset allocations, spending rates and endowment market values at more than 800 higher education institutions and affiliated foundations.

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Upcoming Events

  • September 16, 2019

    2019 Planning and Budgeting Forum

    September 16-17 | Pittsburgh

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  • September 19, 2019

    Legislative Lunchcast: Spotlight on New ED Financial Responsibility Reporting

    September 19 | 1–1:30pm ET

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