U.S.

and Canadian Institutions Listed by Fiscal Year (FY) 2014 Endowment Market Value
and Change* in Endowment Market Value from FY2013 to FY2014

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, 2014 (for FY2014) and June 30, 2013 (for FY2013).
*The change in market values listed for the participating institutions DO NOT represent the
investment rate of return for the endowments investments. Rather, the change in the market
value of an endowment from FY2013 to FY2014 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 may account for
the differences in growth in endowment assets.
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 2015 National Association of College and University Business Officers and Commonfund Institute.

U.S. and Canadian Institutions Listed by Fiscal Year 2014 Endowment Market Value and Change* in
Endowment Market Value from FY2013 to FY2014
*Note: The change in market value does NOT represent the rate of return for the institutions investments. Rather, the change in the
market value of an endowment from FY2013 to FY2014 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

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41

Harvard University
University of Texas System
Yale University
Stanford University
Princeton University
Massachusetts Institute of Technology
The Texas A&M University System and Foundations i
Northwestern University
University of Michigan
University of Pennsylvania
Columbia University
University of Notre Dame
The University of Chicago
University of California
Duke University
Emory University
Washington University in St. Louis
University of Virginia
Cornell University
Rice University
University of Southern California
Dartmouth College
Vanderbilt University
The Ohio State University
University of Pittsburgh
Johns Hopkins University
The Pennsylvania State University
New York University ii
University of Minnesota & Foundations iii
Brown University
University of Washington
University of North Carolina at Chapel Hill & Foundations
Purdue University
University of Wisconsin Foundation
University of Richmond
University of Illinois & Foundation iv
Williams College
Amherst College
Michigan State University
Boston College
Pomona College

State/
Province
MA
TX
CT
CA
NJ
MA
TX
IL
MI
PA
NY
IN
IL
CA
NC
GA
MO
VA
NY
TX
CA
NH
TN
OH
PA
MD
PA
NY
MN
RI
WA
NC
IN
WI
VA
IL
MA
MA
MI
MA
CA

2014
Endowment
Funds
($000s)
35,883,691
25,425,922
23,900,000
21,446,006
20,995,518
12,425,131
11,103,880
9,778,112
9,731,460
9,582,335
9,223,047
8,039,756
7,545,544
7,384,410
7,036,776
6,681,479
6,643,379
5,945,952
5,889,948
5,527,693
4,593,014
4,468,219
4,086,040
3,547,566
3,492,839
3,451,947
3,445.965
3,424,000
3,164,792
2,999,749
2,832,753
2,695,663
2,443,494
2,332,185
2,313,305
2,277,932
2,253,330
2,149,203
2,145,424
2,131,400
2,101,461

2013
Endowment
Funds
($000)
32,334,293
20,448,313
20,780,000
18,688,868
18,200,433
10,857,976
8,732,010
7,883,323
8,382,311
7,741,396
8,197,880
6,856,301
6,668,974
6,377,379
6,040,973
5,816,046
5,651,860
5,166,660
5,272,228
4,836,728
3,868,355
3,733,596
3,673,434
3,149,169
2,975,896
2,987,298
2,956,803
2,949,000
2,757,476
2,699,948
2,346,693
2,381,151
2,182,171
2,020,019
2,023,357
1,925,949
1,996,681
1,823,748
1,637,164
1,809,200
1,823,441

*Change in
Market Value
(%)

Copyright 2015 National Association of College and University Business Officers and Commonfund Institute.

11.0
24.3
15.0
14.8
15.4
14.4
27.2
24.0
16.1
23.8
12.5
17.3
13.1
15.8
16.5
14.9
17.5
15.1
11.7
14.3
18.7
19.7
11.2
12.7
17.4
15.6
16.5
16.1
14.8
11.1
20.7
13.2
12.0
15.5
14.3
18.3
12.9
17.8
31.0
17.8
15.2

U.S. and Canadian Institutions Listed by Fiscal Year 2014 Endowment Market Value and Change* in
Endowment Market Value from FY2013 to FY2014
*Note: The change in market value does NOT represent the rate of return for the institutions investments. Rather, the change in the
market value of an endowment from FY2013 to FY2014 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
71
72
73
74
75
76
77
78
79
80

California Institute of Technology

University of Rochester
Indiana University & Foundations v
The Rockefeller University
Georgia Institute of Technology & Related Foundations
Swarthmore College
Grinnell College
University of Toronto#
Wellesley College
Case Western Reserve University
Smith College
The UCLA Foundation
Boston University
Carnegie Mellon University vi
Tufts University
The George Washington University
University of Nebraska
University of Florida Foundation, Inc.
Virginia Commonwealth University
University of California, Berkeley Foundation
University of Oklahoma
Washington and Lee University
The Kansas University Endowment Association
Southern Methodist University
Georgetown University
Texas Christian University
University of Missouri System
University of Delaware
University of British Columbia#
University of Iowa & Foundation
University of Alabama System
McGill University#
Bowdoin College
Lehigh University
Texas Tech University System
Tulane University
University of Cincinnati
Syracuse University
Trinity University

State/
Province
CA
NY
IN
NY
GA
PA
IA
ON
MA
OH
MA
CA
MA
PA
MA
DC
NE
FL
VA
CA
OK
VA
KS
TX
DC
TX
MO
DE
BC
IA
AL
QC
ME
PA
TX
LA
OH
NY
TX

2014
Endowment
Funds
($000)
2,093,842
2,015,283
1,988,336
1,985,942
1,889,014
1,876,669
1,829,521
1,820,631
1,807,948
1,768,403
1,755,755
1,732,784
1,616,004
1,599,990
1,590,045
1,576,508
1,547,256
1,519,522
1,509,431
1,496,437
1,493,466
1,477,923
1,470,786
1,466,258
1,461,276
1,442,518
1,440,561
1,310,133
1,263,632
1,251,356
1,234,824
1,228,590
1,216,030
1,215,926
1,195,363
1,183,924
1,183,922
1,183,244
1,180,031

2013
Endowment
Funds
($000)
1,849,880
1,730,829
1,735,086
1,772,394
1,714,876
1,634,685
1,553,629
1,593,137
1,550,054
1,678,563
1,557,427
1,526,901
1,403,061
1,371,365
1,440,527
1,375,202
1,338,728
1,359,643
1,326,915
1,243,182
1,324,313
1,345,356
1,288,995
1,268,079
1,286,322
1,256,030
1,259,738
1,171,166
1,061,764
1,094,803
1,054,890
1,056,781
1,038,640
1,103,449
963,585
1,047,813
1,045,606
1,053,214
1,005,691

*Change in
Market Value
(%)

Copyright 2015 National Association of College and University Business Officers and Commonfund Institute.

13.2
16.4
14.6
12.0
10.2
14.8
17.8
14.3
16.6
5.4
12.7
13.5
15.2
16.7
10.4
14.6
15.6
11.8
13.8
20.4
12.8
9.9
14.1
15.6
13.6
14.8
14.4
11.9
19.0
14.3
17.1
16.3
17.1
10.2
24.1
12.9
13.2
12.3
17.3

U.S. and Canadian Institutions Listed by Fiscal Year 2014 Market Value of Endowment Assets and
Percentage Change* in Endowment Market Value from FY2013 to FY2014
*Note: The change in market value does NOT represent the rate of return for the institutions investments. Rather, the change in the
market value of an endowment from FY2013 to FY2014 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
109
110
111
112
113
114
115
116
117
118
119
120
121
122

Baylor University
Wake Forest University
Berea College
University of Kentucky
Yeshiva University
Middlebury College
Saint Louis University
University of Tennessee System
University of Colorado Foundation
Princeton Theological Seminary
Baylor College of Medicine
The University of Tulsa
Carnegie Institution of Washington
Vassar College
The University System of Maryland Foundation, Inc.
University of Alberta#
University of California, San Francisco Foundation
The University of Georgia Foundation
University of Arkansas, Fayetteville
Rutgers, the State University of New Jersey
Berry College, Inc.
North Carolina State University & Related Foundations
University of Louisville Foundation
Santa Clara University
Washington State University
Colgate University
University of Miami
Brandeis University
Hamilton College
Oberlin College
Bryn Mawr College
The University of Utah
Lafayette College
College of William & Mary and Foundations
Virginia Tech Foundation
Carleton College
University of Houston System & Foundations
Pepperdine University
LSU System vii
Iowa State University & Foundation
Denison University
Wesleyan University

State/
Province
TX
NC
KY
KY
NY
VT
MO
TN
CO
NJ
TX
OK
DC
NY
MD
AB
CA
GA
AR
NJ
GA
NC
KY
CA
WA
NY
FL
MA
NY
OH
PA
UT
PA
VA
VA
MN
TX
CA
LA
IA
OH
CT

2014
Endowment
Funds
($000)
1,153,626
1,148,026
1,137,222
1,136,833
1,093,136
1,081,894
1,076,959
1,072,000
1,063,089
1,041,847
1,021,458
1,015,474
980,103
974,180
955,856
955,287
943,804
939,024
929,693
918,575
916,828
885,055
876,825
875,090
868,091
865,664
865,435
861,152
858,839
855,728
854,035
844,761
800,678
797,592
796,437
792,737
789,700
788,574
788,020
777,018
771,760
768,219

2013
Endowment
Funds
($000)
1,050,449
1,061,639
1,012,401
995,295
1,183,499
972,992
956,014
919,408
885,536
930,720
873,721
885,458
854,580
868,741
867,017
848,428
767,718
786,171
819,415
783,492
853,059
769,404
788,529
766,391
777,628
760,579
777,947
766,205
710,428
727,683
710,704
745,553
719,600
697,724
660,340
700,540
717,002
712,163
721,198
673,515
682,557
669,593

*Change in
Market Value
(%)

Copyright 2015 National Association of College and University Business Officers and Commonfund Institute.

9.8
8.1
12.3
14.2
-7.6
11.2
12.7
16.6
20.1
11.9
16.9
14.7
14.7
12.1
10.2
12.6
22.9
19.4
13.5
17.2
7.5
15.0
11.2
14.2
11.6
13.8
11.2
12.4
20.9
17.6
20.2
13.3
11.3
14.3
20.6
13.2
10.1
10.7
9.3
15.4
13.1
14.7

U.S. and Canadian Institutions Listed by Fiscal Year 2014 Market Value of Endowment Assets and
Percentage Change* in Endowment Market Value from FY2013 to FY2014
*Note: The change in market value does NOT represent the rate of return for the institutions investments. Rather, the change in the
market value of an endowment from FY2013 to FY2014 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
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

University of Arizona & Foundation

University of Massachusetts Foundation, Inc.
Queens University#
Macalester College
Rochester Institute of Technology
Bucknell University
The Medical College of Wisconsin, Inc.
Colby College
College of the Holy Cross
The Cooper Union
Northeastern University
Mount Holyoke College
The Principia Corporation
Claremont McKenna College
Oklahoma State Regents for Higher Education
Colorado College
Fordham University
University System of New Hampshire & Foundations viii
Drexel University
Rensselaer Polytechnic Institute
Furman University
Davidson College
St. Johns University
DePauw University
University of Oregon Foundation
Arizona State University & Foundation
University at Buffalo Foundation, Inc.
The Florida State University Foundation
Clemson University & Foundation
Auburn University & Foundation
University of South Carolina & Affiliated Foundations
University of Mississippi Foundation
Howard University
Oklahoma State University Foundation
McMaster University#
National University
Rush University Medical Center
American University of Beirut
Reed College
Trinity College
Loyola University of Chicago
West Virginia University Foundation, Inc.

State/
Province
AZ
MA
ON
MN
NY
PA
WI
ME
MA
NY
MA
MA
MO
CA
OK
CO
NY
NH
PA
NY
SC
NC
NY
IN
OR
AZ
NY
FL
SC
AL
SC
MS
DC
OK
ON
CA
IL
NY
OR
CT
IL
WV

2014
Endowment
Funds
($000)
760,679
757,473
755,140
753,526
752,539
750,913
748,637
740,631
726,053
722,777
713,200
710,130
707,011
699,493
691,705
680,377
675,054
661,660
660,150
659,035
650,035
649,342
644,643
627,746
627,004
625,833
624,791
624,557
623,262
621,106
596,379
594,738
586,104
579,421
578,820
552,329
551,489
549,529
543,025
542,789
539,719
533,627

2013
Endowment
Funds
($000)
611,746
664,240
658,891
686,508
668,406
666,562
597,865
649,992
634,912
641,324
616,618
631,950
638,419
599,147
625,719
599,091
592,538
540,992
586,938
616,836
592,997
564,627
416,231
549,015
558,437
552,789
554,392
548,095
528,697
522,145
544,399
520,216
514,073
517,206
513,056
460,638
500,796
481,180
484,741
473,446
463,860
460,640

*Change in
Market Value
(%)

Copyright 2015 National Association of College and University Business Officers and Commonfund Institute.

24.3
14.0
14.6
9.8
12.6
12.7
25.2
13.9
14.4
12.7
15.7
12.4
10.7
16.7
10.5
13.6
13.9
22.3
12.5
6.8
9.6
15.0
54.9
14.3
12.3
13.2
12.7
14.0
17.9
19.0
9.5
14.3
14.0
12.0
12.8
19.9
10.1
14.2
12.0
14.6
16.4
15.8

U.S. and Canadian Institutions Listed by Fiscal Year 2014 Market Value of Endowment Assets and
Percentage Change* in Endowment Market Value from FY2013 to FY2014
*Note: The change in market value does NOT represent the rate of return for the institutions investments. Rather, the change in the
market value of an endowment from FY2013 to FY2014 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

165
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

Marquette University
Oregon Health and Science University Foundation ix
Ohio University & Foundation
UC San Diego Foundaton
Oregon State University Foundation
Villanova University
University of Dayton
Whitman College
Loma Linda University
Haverford College
The University of Western Ontario#
Whitehead Institute for Biomedical Research
Kansas State University Foundation
University of San Diego
University of Denver (Colorado Seminary)
Miami University Foundation
Dalhousie University#
University of St. Thomas
Mississippi State University & Foundation
Loyola Marymount University
DePaul University
St. Olaf College
Creighton University
Miami Dade College
Worcester Polytechnic Institute
National Academy of Sciences
College of the Ozarks
Lebanese American University
University of New Mexico & Foundation
University of Wyoming Foundation
University of South Florida Foundation Inc.
The University of Toledo & Foundation
VMI Foundation Inc.
Union College
Clark University
Occidental College
Wheaton College
Earlham College
Michigan State University Foundation
Hofstra University
University of Wisconsin System

State/
Province
WI
OR
OH
CA
OR
PA
OH
WA
CA
PA
ON
MA
KS
CA
CO
OH
NS
MN
MS
CA
IL
MN
NE
FL
MA
DC
MO
NY
NM
WY
FL
OH
VA
NY
MA
CA
IL
IN
MI
NY
WI

2014
Endowment
Funds
($000)
531,700
522,384
515,913
512,985
511,427
510,785
510,107
504,524
498,410
494,570
481,245
478,203
473,987
468,766
467,253
464,385
459,475
458,149
456,610
454,241
447,196
446,809
439,784
434,689
433,062
428,000
427,477
424,343
422,934
419,889
417,335
416,153
413,409
410,762
406,407
406,096
405,027
404,999
403,489
400,191
396,947

2013
Endowment
Funds
($000)
457,799
463,968
446,748
438,869
443,826
419,249
442,252
444,603
648,490
434,234
403,588
427,113
364,676
395,589
403,467
416,658
400,021
396,553
394,925
395,462
384,740
375,914
355,802
382,446
389,310
402,338
376,176
359,689
371,362
370,216
363,924
355,943
338,171
353,410
364,907
356,767
352,506
350,566
360,821
347,998
352,086

*Change in
Market Value
(%)

Copyright 2015 National Association of College and University Business Officers and Commonfund Institute.

16.1
12.6
15.5
16.9
15.2
21.8
15.3
13.5
-23.1
13.9
19.2
12.0
30.0
18.5
15.8
11.5
14.9
15.5
15.6
14.9
16.2
18.9
23.6
13.7
11.2
6.4
13.6
18.0
13.9
13.4
14.7
16.9
22.2
16.2
11.4
13.8
14.9
15.5
11.8
15.0
12.7

U.S. and Canadian Institutions Listed by Fiscal Year 2014 Market Value of Endowment Assets and
Change* in Endowment Market Value from FY2013 to FY2014
*Note: The change in market value does NOT represent the rate of return for the institutions investments. Rather, the change in the
market value of an endowment from FY2013 to FY2014 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

206
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

Dickinson College
University of Vermont and State Agricultural College
University of California, Irvine Foundation
Medical College of Virginia Foundation
University of the Pacific
University of Connecticut & Foundations
Olin College of Engineering
Abilene Christian University
Temple University
The University of the South
Rollins College
Wabash College
Spelman College
Quinnipiac University
Simon Fraser University#
University of Victoria Foundation#
Franklin & Marshall College
Rhode Island School of Design
Rhodes College
Skidmore College
Babson College
University of South Alabama Foundation
Brookings Institution
University of Alaska & Foundation
Western Michigan University Foundation x
The University of Puget Sound
UC Davis Foundation
Fairfield University
Medical University of South Carolina Foundation
Wayne State University
Berklee College of Music
Scripps College
The Catholic University of America
The New School
Loyola University New Orleans
University of Nevada and Related Foundations
Hampton University
Bradley University
Gettysburg College
Colorado State University Foundation
St. Lawrence University

State/
Province
PA
VT
CA
VA
CA
CT
MA
TX
PA
TN
FL
IN
GA
CT
BC
BC
PA
RI
TN
NY
MA
AL
DC
AK
MI
WA
CA
CT
SC
MI
MA
CA
DC
NY
LA
NV
VA
IL
PA
CO
NY

2014
Endowment
Funds
($000)
396,265
394,454
387,157
386,981
386,440
383,866
380,328
374,971
374,758
374,302
372,593
371,230
367,037
348,869
343,992
343,021
339,204
337,954
335,079
334,633
329,834
323,136
321,910
320,306
319,997
318,501
313,876
313,093
312,580
311,337
310,650
310,536
308,529
299,890
296,294
295,334
288,370
287,891
285,611
284,495
283,876

2013
Endowment
Funds
($000)
356,739
374,316
330,104
344,632
334,440
344,174
349,371
321,117
323,837
336,527
336,974
348,138
327,171
315,199
288,587
304,232
306,218
313,194
294,367
298,811
273,802
298,536
286,847
287,347
262,300
276,927
240,391
271,561
272,319
276,234
278,112
282,289
264,449
213,863
281,407
259,775
254,103
257,508
251,777
245,887
251,421

*Change in
Market Value
(%)

Copyright 2015 National Association of College and University Business Officers and Commonfund Institute.

11.1
5.4
17.3
12.3
15.5
11.5
8.9
16.8
15.7
11.2
10.6
6.6
12.2
10.7
19.2
12.7
10.8
7.9
13.8
12.0
20.5
8.2
12.2
11.5
22.0
15.0
30.6
15.3
14.8
12.7
11.7
10.0
16.7
40.2
5.3
13.7
13.5
11.8
13.4
15.7
12.9

U.S. and Canadian Institutions Listed by Fiscal Year 2014 Market Value of Endowment Assets and
Percentage Change* in Endowment Market Value from FY2013 to FY2014
*Note: The change in market value does NOT represent the rate of return for the institutions investments. Rather, the change in the
market value of an endowment from FY2013 to FY2014 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

247
248
249
250
251
252
253
254
255
256
257
258
259
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

Harvey Mudd College

Utah State University
Connecticut College
University of San Francisco
Barnard College
Chapman University xi
University of Maryland College Park Foundation
Johnson & Wales University
Agnes Scott College
University of Hawaii Foundation
Colorado School of Mines Foundation, Inc.
The College of Wooster
Seton Hall University
Ithaca College
Southwestern University
Bates College
Centre College
Philadelphia College of Osteopathic Medicine
Duquesne University
Bentley University
Muhlenberg College
The Corporation of Mercer University
UNC Greensboro Investment Fund, Inc.
Lawrence University of Wisconsin
The Citadel & The Citadel Foundation
Nevada System of Higher Education
University of Idaho Foundation, Inc.
Youngstown State University Foundation
Wichita State University Foundation
Willamette University xii
Lewis & Clark College
University of Nevada, Las Vegas Foundation
Goucher College
Illinois Institute of Technology
New Mexico State University & Foundation
University of New Brunswick#
Kalamazoo College
Illinois Wesleyan University
University of Ottawa#
Drew University
SUNY, Stony Brook Foundation

State/
Province
CA
UT
CT
CA
NY
CA
MD
RI
GA
HI
CO
OH
NJ
NY
TX
ME
KY
PA
PA
MA
PA
GA
NC
WI
SC
NV
ID
OH
KS
OR
OR
NV
MD
IL
NM
NB
MI
IL
ON
NJ
NY

2014
Endowment
Funds
($000)
283,696
282,465
277,965
276,943
276,476
273,823
273,090
272,936
272,331
272,280
270,844
269,081
268,960
267,515
265,591
263,892
263,818
261,549
260,632
258,462
257,187
256,919
251,756
249,473
244,543
243,149
240,980
239,342
237,002
234,109
233,680
227,936
227,559
222,986
222,581
222,570
222,048
221,617
221,392
217,082
214,446

2013
Endowment
Funds
($000)
241,584
242,025
237,035
237,324
240,710
229,506
247,896
244,788
251,156
235,383
230,840
240,785
239,733
242,887
252,950
233,804
231,244
202,302
203,875
217,933
197,593
208,286
221,134
212,431
216,686
219,950
209,398
216,245
212,178
214,332
209,688
200,026
197,497
194,497
197,387
189,296
192,295
208,272
192,390
203,337
180,716

*Change in
Market Value
(%)

Copyright 2015 National Association of College and University Business Officers and Commonfund Institute.

17.4
16.7
17.3
16.7
14.9
19.3
10.2
11.5
8.4
15.7
17.3
11.8
12.2
10.1
5.0
12.9
14.1
29.3
27.8
18.6
30.2
23.3
13.8
17.4
12.9
10.5
15.1
10.7
11.7
9.2
11.4
14.0
15.2
14.6
12.8
17.6
15.5
6.4
15.1
6.8
18.7

U.S. and Canadian Institutions Listed by Fiscal Year 2014 Market Value of Endowment Assets and
Change* in Endowment Market Value from FY2013 to FY2014
*Note: The change in market value does NOT represent the rate of return for the institutions investments. Rather, the change in the
market value of an endowment from FY2013 to FY2014 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

288
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

Old Dominion University xiii

Medical College of Georgia Foundation, Inc.
Kenyon College
The University of Akron & Foundation
Ohio Wesleyan University
Saint Josephs University
Florida Atlantic University Foundation, Inc.
Stetson University, Inc.
California Polytechnic State University & Foundation
University of South Dakota Foundation
Hobart and William Smith Colleges
Gallaudet University
Columbia Theological Seminary
Valparaiso University
Washington College
The University of Memphis
University of North Dakota Foundation
John Carroll University
Lycoming College
Loyola University Maryland, Inc.
Rose-Hulman Institute of Technology
Inter American University of Puerto Rico
Hope College
Suffolk University
Wheaton College
Clarkson University
Simmons College
Ball State University Foundation
Wofford College
Stonehill College, Inc.
San Diego State University
Butler University
Mills College
University of Maine Foundation
Lesley University
Elon University
Carleton University#
Claremont Graduate University
Drake University
Albion College
Allegheny College
Hendrix College

State/
Province
VA
GA
OH
OH
OH
PA
FL
FL
CA
SD
NY
DC
GA
IN
MD
TN
ND
OH
PA
MD
IN
PR
MI
MA
MA
NY
MA
IN
SC
MA
CA
IN
CA
ME
MA
NC
ON
CA
IA
MI
PA
AR

2014
Endowment
Funds
($000)
213,687
212,697
212,160
211,787
211,723
209,286
208,521
207,832
207,779
206,978
204,862
203,645
202,890
202,737
201,842
200,750
198,476
198,277
198,093
197,929
196,975
196,472
195,943
194,540
193,545
192,918
192,217
192,215
191,366
190,987
190,608
190,231
189,288
189,151
189,000
188,851
187,878
187,581
186,283
185,337
184,693
181,631

2013
Endowment
Funds
($000)
180,434
142,208
195,217
184,451
189,136
193,170
189,287
173,158
184,048
178,104
175,543
176,080
177,110
177,976
181,670
178,988
162,785
181,004
167,609
177,155
175,815
171,111
163,935
164,688
176,062
169,438
172,031
172,014
166,872
171,223
158,406
165,452
174,543
162,835
170,225
154,286
172,988
169,052
169,021
167,308
162,801
173,281

*Change in
Market Value
(%)

Copyright 2015 National Association of College and University Business Officers and Commonfund Institute.

18.4
49.6
8.7
14.8
11.9
8.3
10.2
20.0
12.9
16.2
16.7
15.7
14.6
13.9
11.1
12.2
21.9
9.5
18.2
11.7
12.0
14.8
19.5
18.1
9.9
13.9
11.7
11.7
14.7
11.5
20.3
15.0
8.4
16.2
11.0
22.4
8.6
11.0
10.2
10.8
13.4
4.8

U.S. and Canadian Institutions Listed by Fiscal Year 2014 Market Value of Endowment Assets and
Change* in Endowment Market Value from FY2013 to FY2014
*Note: The percentage change does NOT represent the rate of return for the institutions investments. Rather, the percentage change
in the market value of an endowment from FY2013 to FY2014 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

330
331
332
333
334
335
336
337
338
339
340
341
342
343
344
345
346
347
348
349
350
351
352
353
354
355
356
357
358
359
360
361
362
363
364
365
366
367
368
369
370
371

Hollins University
University of Montana Foundation
Ohio Northern University
Florida International University Foundation, Inc.
St. Marys University of San Antonio
University of the Sciences in Philadelphia
University of South Alabama
Bryant University
Rowan University Foundation
Transylvania University
Saint Johns University
University of North Carolina at Charlotte
Randolph College
Saint Marys College of California
Stevens Institute of Technology
Gonzaga University xiv
East Carolina University
Washburn University Foundation
The University of Scranton
California State University Fresno Foundation
Texas State University
UC Santa Barbara Foundation
Pace University
Mennonite Education Agency Investment Fund LLC
The University of Central Florida
Xavier University
Asbury Theological Seminary
Pratt Institute
Hanover College
Saint Marys College of Notre Dame
St. Johns CollegeAnnapolis, MD & Santa Fe, NM
Hampden-Sydney College
Susquehanna University
Illinois College
St. Louis College of Pharmacy
Mercy College
Randolph-Macon College
Le Moyne College
Luther College
University of Hartford
Augustana College
University of North Texas

State/
Province
VA
MT
OH
FL
TX
PA
AL
RI
NJ
KY
MN
NC
VA
CA
NJ
WA
NC
KS
PA
CA
TX
CA
NY
IN
FL
OH
KY
NY
IN
IN
MD
VA
PA
IL
MO
NY
VA
NY
IA
CT`
IL
TX

2014
Endowment
Funds
($000)
180,654
176,935
176,710
176,500
174,530
174,231
174,138
172,809
171,063
169,015
168,916
168,855
167,712
166,476
165,973
164,885
164,065
163,847
162,453
162,101
161,264
160,965
157,282
154,626
154,595
153,478
153,105
152,809
151,106
151,102
150,952
150,901
150,064
148,409
147,935
147,765
147,257
147,203
147,079
144,991
144,374
143,486

2013
Endowment
Funds
($000)
164,852
147,538
158,270
149,384
153,674
157,639
160,000
153,536
150,604
147,603
152,164
148,048
136,096
143,903
153,143
137,721
144,701
147,244
145,442
142,839
138,736
140,367
137,634
135,795
135,475
132,471
134,387
123,372
136,790
129,270
133,402
134,228
132,099
140,735
129,431
103,289
131,812
128,218
129,200
127,026
127,736
122,369

*Change in
Market Value
(%)

Copyright 2015 National Association of College and University Business Officers and Commonfund Institute.

9.6
19.9
11.7
18.2
13.6
10.5
8.8
12.6
13.6
14.5
11.0
14.1
23.2
15.7
8.4
19.7
13.4
11.3
11.7
13.5
16.2
14.7
14.3
13.9
14.1
15.9
13.9
23.9
10.5
16.9
13.2
12.4
13.6
5.5
14.3
43.1
11.7
14.8
13.8
14.1
13.0
17.3

U.S. and Canadian Institutions Listed by Fiscal Year 2014 Market Value of Endowment Assets and
Percentage Change* in Endowment Market Value from FY2013 to FY2014
*Note: The change in market value does NOT represent the rate of return for the institutions investments. Rather, the change in the
market value of an endowment from FY2013 to FY2014 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

372
373
374
375
376
377
378
379
380
381
382
383
384
385
386
387
388
389
390
391
392
393
394
395
396
397
398
399
400
401
402
403
404
405
406
407
408
409
410
411
412

Lindenwood University
Mount Allison University#
Columbia College Chicago
Baldwin Wallace University
Gustavus Adolphus College
Montana State University Foundation, Inc.
Messiah College
University of Portland
Hardin-Simmons University
Indiana Wesleyan University
California Institute of the Arts
Sacred Heart University Inc.
Meharry Medical College
Victoria University of the University of Toronto#
Northern Arizona University
Austin College
University of Mount Union
Buena Vista University
Western Kentucky University & Foundations
Pitzer College
Georgia State University Foundation
St. Ambrose University
UC Riverside Foundation
Ursinus College
Roanoke College
Washington and Jefferson College
Webster University
The Culinary Institute of America
Mount St. Marys College
University of Redlands
Florida A&M University Foundation, Inc.
North Dakota State University Development Foundation
Whitworth University
Saint Anselm College
Millikin University
Southern Illinois University Foundation
Knox College
Calvin College
Millsaps College
University of the Incarnate Word
Austin Presbyterian Theological Seminary

State/
Province
MO
NB
IL
OH
MN
MT
PA
OR
TX
IN
CA
CT
TN
ON
AZ
TX
OH
IA
KY
CA
GA
IA
CA
PA
VA
PA
MO
NY
CA
CA
FL
ND
WA
NH
IL
IL
IL
MI
MS
TX
TX

2014
Endowment
Funds
($000)
143,408
142,824
142,663
141,410
141,394
141,066
140,934
140,151
139,972
138,288
137,535
137,027
136,975
136,269
136,074
135,769
135,612
135,570
135,083
134,289
133,296
132,298
131,880
130,175
129,888
128,908
128,572
128,387
127,591
127,522
127,186
126,821
125,935
125,279
124,943
124,801
124,428
123,666
122,388
120,464
120,371

2013
Endowment
Funds
($000)
122,153
123,217
124,490
124,777
123,740
121,755
127,028
118,107
121,058
107,316
115,310
124,280
124,965
105,420
107,275
124,800
123,767
122,301
118,396
118,358
118,825
117,970
106,987
113,957
119,120
115,841
107,483
115,125
108,549
110,785
115,281
113,302
108,081
106,305
113,798
103,066
98,752
110,480
110,456
110,282
107,816

*Change in
Market Value
(%)

Copyright 2015 National Association of College and University Business Officers and Commonfund Institute.

17.4
15.9
14.6
13.3
14.3
15.9
10.9
18.7
15.6
28.9
19.3
10.3
9.6
29.3
26.8
8.8
9.6
10.8
14.1
13.5
12.2
12.1
23.3
14.2
9.0
11.3
19.6
11.5
17.5
15.1
10.3
11.9
16.5
17.8
9.8
21.1
26.0
11.9
10.8
9.2
11.6

U.S. and Canadian Institutions Listed by Fiscal Year 2014 Market Value of Endowment Assets and
Change* in Endowment Market Value from FY2013 to FY2014
*Note: The change in market value does NOT represent the rate of return for the institutions investments. Rather, the change in the
market value of an endowment from FY2013 to FY2014 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

413
414
415
416
417
418
419
420
421
422
423
424
425
426
427
428
429
430
431
432
433
434
435
436
437
438
439
440
441
442
443
444
445
446
447
448
449
450
451
452
453
454

Columbia College
San Jose State University and Tower Foundation
Goshen College
Oklahoma Baptist University
Harding University, Inc.
Alma College
East Tennessee State University
Westminster College
Doane College
Biola University
McDaniel College
Juniata College
St. Francis Xavier University#
University of Chattanooga Foundation Inc.
Weber State University
Concordia College
North Central College
Alfred University
Moravian College
Embry-Riddle Aeronautical University
Union Theological Seminary in the City of New York
Central Michigan University
Marshall University Foundation, Inc.
The College of Idaho
Cottey College
Linfield College
Grand Valley State University
South Dakota State University
University of Northern Iowa Foundation
Ouachita Baptist University
Assumption College
University of the Ozarks
Iona College
Whittier College
Belmont University
Monmouth College
Lenoir-Rhyne University
New Jersey Institute of Technology
Wittenberg University
John Brown University
St. Norbert College
Presbyterian College

State/
Province
MO
CA
IN
OK
AR
MI
TN
PA
NE
CA
MD
PA
NS
TN
UT
MN
IL
NY
PA
FL
NY
MI
WV
ID
MO
OR
MI
SD
IA
AR
MA
AR
NY
CA
TN
IL
NC
NJ
OH
AR
WI
SC

2014
Endowment
Funds
($000)
119,331
119,265
117,507
117,483
116,937
116,462
115,078
113,953
113,722
113,668
113,428
113,277
112,971
112,967
110,819
110,542
109,123
108,874
108,683
107,925
107,900
107,871
106,284
106,192
105,787
103,455
103,153
102,918
102,900
101,098
100,767
100,536
100,296
99,829
99,679
99,186
98,147
98,117
98,040
97,964
97,610
97,595

2013
Endowment
Funds
($000)
108,418
99,869
102,260
107,889
105,005
102,680
105,332
100,800
102,176
93,043
99,635
93,508
90,176
97,739
96,514
87,998
96,483
93,754
98,448
91,686
94,664
92,257
90,637
96,146
96,014
88,192
87,628
88,294
82,689
93,308
92,359
91,663
69,251
88,635
85,445
87,222
93,526
82,965
92,422
86,711
83,796
88,637

*Change in
Market Value
(%)

Copyright 2015 National Association of College and University Business Officers and Commonfund Institute.

10.1
19.4
14.9
8.9
11.4
13.4
9.3
13.0
11.3
22.2
13.8
21.1
25.3
15.6
14.8
25.6
13.1
16.1
10.4
17.7
14.0
16.9
17.3
10.4
10.2
17.3
17.7
16.6
24.4
8.3
9.1
9.7
44.8
12.6
16.7
13.7
4.9
18.3
6.1
13.0
16.5
10.1

U.S. and Canadian Institutions Listed by Fiscal Year 2014 Market Value of Endowment Assets and
Change* in Endowment Market Value from FY2013 to FY2014
*Note: The change in market value does NOT represent the rate of return for the institutions investments. Rather, the change in the
market value of an endowment from FY2013 to FY2014 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

455
456
457
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

Lynchburg College
Chatham University
Long Island University
Emmanuel College
Oklahoma City University
University of North Florida Foundation, Inc.
Northern Kentucky University Foundation, Inc.
Sweet Briar College
St. Edwards University
Hamline University of Minnesota
University of Indianapolis
Niagara University
Michigan Technological University
Texas Lutheran University
Meredith College
Wentworth Institute of Technology
Appalachian State University & Foundation xv
Saint Michaels College
Coe College
Queens University of Charlotte
University of Evansville
Widener University
Roger Williams University
McCormick Theological Seminary
Wright State University Foundation, Inc.
Boise State University Foundation, Inc.
Roosevelt University
Sarah Lawrence College
Middle Tennessee State University
Franklin College
California State University, Northridge
La Salle University
The Foundation for SUNY at Binghamton, Inc.
California State Polytechnic University, Pomona
Drury University
Taylor University
Louisville Presbyterian Theological Seminary
University of St. Thomas
Franklin University
Pacific Lutheran University
University of North Carolina Wilmington
Simpson College

State/
Province
VA
PA
NY
MA
OK
FL
KY
VA
TX
MN
IN
NY
MI
TX
NC
MA
NC
VT
IA
NC
IN
PA
RI
IL
OH
ID
IL
NY
TN
IN
CA
PA
NY
CA
MO
IN
KY
TX
OH
WA
NC
IA

2014
Endowment
Funds
($000)
97,263
97,049
96,987
96,496
94,983
94,884
94,694
94,038
93,343
93,210
93,120
93,067
92,920
92,582
92,360
91,462
91,429
91,349
91,243
91,214
90,417
90,004
89,959
89,819
89,571
88,788
88,585
88,408
88,362
87,613
87,498
87,487
87,378
86,658
86,604
86,226
86,161
86,159
85,817
85,581
85,285
84,842

2013
Endowment
Funds
($000)
80,736
75,090
85,151
72,774
85,254
83,557
82,005
88,058
79,253
81,913
81,521
80,898
83,755
82,734
80,707
81,890
78,587
78,313
87,118
81,173
82,367
80,603
78,978
81,818
81,081
77,826
79,128
75,405
75,710
82,250
72,449
81,487
76,759
69,290
80,660
76,193
83,865
73,894
76,099
77,980
73,765
75,863

*Change in
Market Value
(%)

Copyright 2015 National Association of College and University Business Officers and Commonfund Institute.

20.5
29.2
13.9
32.6
11.4
13.6
15.5
6.8
17.8
13.8
14.2
15.0
10.9
11.9
14.4
11.7
16.3
16.6
4.7
12.4
9.8
11.7
13.9
9.8
10.5
14.1
12.0
17.2
16.7
6.5
20.8
7.4
13.8
25.1
7.4
13.2
2.7
16.6
12.8
9.7
15.6
11.8

U.S. and Canadian Institutions Listed by Fiscal Year 2014 Market Value of Endowment Assets and
Change* in Endowment Market Value from FY2013 to FY2014
*Note: The change in market value does NOT represent the rate of return for the institutions investments. Rather, the change in the
market value of an endowment from FY2013 to FY2014 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.
2014
2013
*Change in
State/
Endowment Endowment Market Value
Rank Institution
Funds
Funds
Province
(%)
($000)
($000)
497
SUNY Upstate Medical Center
NY
84,795
72,438
17.1
498
Lake Forest College
IL
84,763
76,914
10.2
499
Westmont College
CA
84,369
73,918
14.1
500
Oregon University System
OR
83,941
72,557
15.7
501
Hood College of Frederick
MD
83,450
69,428
20.2
502
California Lutheran University
CA
83,254
59,089
40.9
503
University of Dubuque
IA
83,091
76,244
9.0
504
University of Northern Colorado Foundation, Inc.
CO
82,448
73,086
12.8
505
Northwood University
MI
82,392
72,732
13.3
506
Bridgewater College
VA
82,379
70,124
17.5
507
Wagner College
NY
82,141
72,485
13.3
508
Indiana Institute of Technology, Inc.
IN
81,746
72,952
12.1
509
Maryland Institute College of Art
MD
81,633
71,234
14.6
510
Kettering University
MI
81,288
70,740
14.9
511
Carthage College
WI
81,000
64,614
25.4
512
Emporia State University Foundation
KS
79,992
71,009
12.7
513
Guilford College
NC
79,930
72,664
10.0
514
Brite Divinity School
TX
79,233
75,019
5.6
515
The University of Southern Mississippi Foundation
MS
78,673
68,863
14.2
516
Valencia College & Foundation
FL
78,403
70,494
11.2
517
James Madison University Foundation Inc.
VA
78,386
66,978
17.0
518
Marietta College
OH
77,685
68,726
13.0
519
St. Francis College
NY
77,536
70,379
10.2
520
Broward College Foundation
FL
77,440
66,799
15.9
521
Palm Beach Atlantic University
FL
77,091
71,435
7.9
522
McMurry University
TX
76,564
67,803
12.9
523
Missouri State University Foundation
MO
76,106
66,457
14.5
524
New York Medical College
NY
75,697
66,900
13.1
525
Monmouth University
NJ
75,278
66,179
13.7
526
Converse College
SC
75,135
68,290
10.0
527
Muskingum University
OH
75,125
65,219
15.2
528
Tennessee Tech University
TN
74,742
65,922
13.4
529
Eastern Illinois University Foundation
IL
74,569
61,856
20.6
530
Capital University
OH
74,333
65,904
12.8
531
Cornell College
IA
73,773
66,999
10.1
532
Seattle Pacific University
WA
73,582
61,216
20.2
533
Oakland University
MI
73,457
61,024
20.4
534
Westminster College
UT
72,525
62,593
15.9
535
Eastern Virginia Medical School Foundation
VA
72,187
62,715
15.1
536
Saginaw Valley State University Foundation
MI
71,928
60,483
18.9
537
Wilson College
PA
71,902
70,685
1.7
538
Manhattan College
NY
71,827
63,141
13.8

Copyright 2015 National Association of College and University Business Officers and Commonfund Institute.

U.S. and Canadian Institutions Listed by Fiscal Year 2014 Market Value of Endowment Assets and
Change in Endowment Market Value from FY2013 to FY2014
*Note: The change in market value does NOT represent the rate of return for the institutions investments. Rather, the change in the
market value of an endowment from FY2013 to FY2014 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.
2014
2013
*Change in
State/
Endowment Endowment Market Value
Rank Institution
Funds
Funds
Province
(%)
($000)
($000)
539
Hartwick College
NY
70,808
62,868
12.6
540
Augustana College
SD
70,771
62,897
12.5
541
Hiram College
OH
70,719
60,977
16.0
542
Northern Illinois University Foundation
IL
70,682
58,858
20.1
543
Golden Gate University
CA
70,243
65,085
7.9
544
University of Arkansas Fort Smith Foundation, Inc.
AR
69,936
60,435
15.7
545
Lipscomb University
TN
69,753
60,648
15.0
546
George Mason University Foundation, Inc.
VA
69,554
59,261
17.4
547
Pittsburg State University Foundation Inc.
KS
69,414
73,912
-6.1
548
Florida Southern College
FL
68,790
63,799
7.8
549
Wilfrid Laurier University#
ON
68,760
61,634
11.6
550
Murray State University
KY
68,475
59,529
15.0
551
Arcadia University
PA
68,345
58,237
17.4
552
Nazareth College
NY
67,822
59,847
13.3
553
Lamar University Foundation, Inc.
TX
67,790
59,666
13.6
554
Elizabethtown College
PA
67,654
61,034
10.8
555
Kings College
PA
67,426
60,127
12.1
556
College of St. Scholastica
MN
67,074
54,495
23.1
557
DeSales University
PA
66,317
54,843
20.9
558
Eastern Michigan University Foundation
MI
66,301
57,214
15.9
559
San Francisco State University Foundation
CA
65,385
55,210
18.4
560
Rider University
NJ
65,227
57,338
13.8
561
Albright College
PA
65,210
57,381
13.6
562
Maryville College
TN
64,461
58,053
11.0
563
Western Carolina University
NC
64,333
56,502
13.9
564
Fort Hays State University Foundation
KS
64,303
53,852
19.4
565
College of Central Florida Foundation, Inc.
FL
63,969
55,786
14.7
566
Purchase College Foundation
NY
63,965
54,718
16.9
567
Springfield College
MA
63,964
53,492
19.6
568
Florida Institute of Technology
FL
63,423
51,746
22.6
569
University of La Verne
CA
63,244
47,976
31.8
570
Flagler College Inc.
FL
63,166
58,125
8.7
571
University of Northern British Columbia#
BC
63,134
53,277
18.5
572
Pacific University
OR
62,973
56,412
11.6
573
Shenandoah University
VA
62,600
54,868
14.1
574
Endicott College
MA
62,288
51,512
20.9
575
University of WisconsinEau Claire Foundation, Inc.
WI
62,103
50,010
24.2
576
Ana G. Mendez University System
PR
61,976
55,171
12.3
577
The University of West Florida Foundation, Inc.
FL
61,824
53,687
15.2
578
Eastern Kentucky University Foundation
KY
61,516
54,084
13.7
579
Howard Payne University
TX
61,254
49,982
22.6
580
Schreiner University
TX
60,474
57,429
5.3

Copyright 2015 National Association of College and University Business Officers and Commonfund Institute.

U.S. and Canadian Institutions Listed by Fiscal Year 2014 Market Value of Endowment Assets and
Change* in Endowment Market Value from FY2013 to FY2014
*Note: The change in market value does NOT represent the rate of return for the institutions investments. Rather, the change in the
market value of an endowment from FY2013 to FY2014 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.
2014
2013
*Change in
State/
Endowment Endowment Market Value
Rank Institution
Funds
Funds
Province
(%)
($000)
($000)
581
St. Bonaventure University
NY
60,151
53,953
11.5
582
Park University
MO
60,006
51,954
15.5
583
Pennsylvania & Foundation xvi
PA
58,983
50,244
17.4
584
Salve Regina University
RI
58,633
49,967
17.3
585
Montclair State University Foundation, Inc.
NJ
58,573
56,411
3.8
586
Lebanon Valley College
PA
58,366
48,933
19.3
587
Virginia Wesleyan College
VA
57,713
51,827
11.4
588
Wheelock College
MA
57,540
46,659
23.3
589
Clark College Foundation
WA
57,505
50,998
12.8
590
California State University, Long Beach
CA
57,000
50,529
12.8
591
Nebraska Wesleyan University
NE
56,995
49,277
15.7
592
Troy University Foundation
AL
56,610
48,144
17.6
593
Fairleigh Dickinson University
NJ
56,586
44,304
27.7
594
LaGrange College
GA
56,166
53,957
4.1
595
Gannon University
PA
56,142
47,281
18.7
596
College of Saint Benedict
MN
55,949
48,450
15.5
597
Indiana State University Foundation, Inc.
IN
55,927
47,082
18.8
598
Eckerd College
FL
54,489
49,094
11.0
599
Manchester University
IN
54,426
47,294
15.1
600
Longwood University Foundation Inc.
VA
54,073
48,103
12.4
601
Warren Wilson College
NC
53,805
60,955
-11.7
602
Minnesota State University, Mankato
MN
53,057
46,948
13.0
603
Bellarmine University
KY
52,998
45,688
16.0
604
Keck Graduate Institute of Applied Life Sciences
CA
52,679
46,452
13.4
605
The University Foundation, California State University
CA
52,563
47,761
10.1
Chico
606
Lewis University
IL
52,561
46,158
13.9
607
Portland State University Foundation
OR
52,305
44,054
18.7
608
Carroll University
WI
52,173
46,264
12.8
609
New York Chiropractic College
NY
52,040
45,252
15.0
610
Wilkes University
PA
51,920
46,635
11.3
611
Arkansas State University Foundation, Inc.
AR
51,907
43,197
20.2
612
Georgian Court University
NJ
51,288
46,117
11.2
613
Tennessee State University Foundation
TN
50,492
42,970
17.5
614
Cal State Fullerton Philanthropic Foundation
CA
50,112
42,548
17.8
615
University at Albany Foundation
NY
49,522
40,522
22.2
616
Kentucky Community & Technical College System
KY
49,474
41,618
18.9
617
Columbus State University Foundation, Inc.
GA
49,424
42,819
15.4
618
Moody Bible Institute
IL
49,420
43,623
13.3
619
Minneapolis College of Art and Design
MN
49,350
43,098
14.5
620
Western New England University
MA
49,273
41,624
18.4
621
Georgia Southern University Foundation
GA
49,157
42,363
16.0
622
Ferrum College
VA
48,790
43,059
13.3

Copyright 2015 National Association of College and University Business Officers and Commonfund Institute.

U.S. and Canadian Institutions Listed by Fiscal Year 2014 Market Value of Endowment Assets and
Change* in Endowment Market Value from FY2013 to FY2014
*Note: The change does NOT represent the rate of return for the institutions investments. Rather, the change in the market value
of an endowment from FY2013 to FY2014 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

623
624
625
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

SUNY at Oneonta Foundation Corporation

Friends University
Trinity College#
High Point University
Mount Saint Marys University
Morningside College
Western Washington University Foundation
Radford University Foundation, Inc.
Stephens College
Hartford Seminary
Northwestern College
Texas Southern University
Houghton College
University of Mary Washington
Ferris Foundation
Saint Francis University
Graceland University
Rockhurst University
North Carolina A&T State University & Foundation
Shippensburg University Foundation
Bethany Lutheran College, Inc.
Heidelberg University
Freed-Hardeman University
Sonoma State University Academic Foundation Inc.
Ringling College of Art and Design, Inc.
Western Illinois University Foundation
The College of Saint Rose
Concordia University, St. Paul
Cleveland Institute of Music
Winthrop University
Coker College
Northampton County Area Community College
Marlboro College
Maryville University of St. Louis
Brenau University
Lasell College
Carroll College
Florida State College at Jacksonville
San Francisco Conservatory of Music
Misericordia University
University of Mary

State/
Province
NY
KS
ON
NC
MD
IA
WA
VA
MO
CT
IA
TX
NY
VA
MI
PA
IA
MO
NC
PA
MN
OH
TN
CA
FL
IL
NY
MN
OH
SC
SC
PA
VT
MO
GA
MA
MT
FL
CA
PA
ND

2014
Endowment
Funds
($000)
48,779
48,217
48,209
48,088
47,605
47,267
47,233
47,091
46,800
46,767
46,684
46,577
46,461
46,389
46,322
44,863
44,773
44,379
43,785
43,764
43,614
43,212
43,160
43,092
42,940
42,668
42,001
41,183
40,977
40,934
40,818
40,629
40,421
40,328
40,317
40,091
39,868
39,496
39,438
39,367
39,257

2013
Endowment
Funds
($000)
42,023
44,688
45,052
42,681
40,670
43,186
40,846
40,519
41,191
41,353
43,320
42,179
41,632
41,385
40,216
39,118
46,318
39,111
37,337
N/A
39,897
33,845
41,180
37,070
33,833
32,134
36,206
28,849
36,673
34,646
37,660
34,085
38,734
38,072
34,526
33,490
29,671
37,103
34,993
30,695
34,970

*Change in
Market Value
(%)

Copyright 2015 National Association of College and University Business Officers and Commonfund Institute.

16.1
7.9
7.0
12.7
17.1
9.5
15.6
16.2
13.6
13.1
7.8
10.4
11.6
12.1
15.2
14.7
-3.3
13.5
17.3
N/A
9.3
27.7
4.8
16.2
26.9
32.8
16.0
42.8
11.7
18.1
8.4
19.2
4.4
5.9
16.8
19.7
34.4
6.4
12.7
28.2
12.3

U.S. and Canadian Institutions Listed by Fiscal Year 2014 Endowment Market Value and Percentage
Change* in Endowment Market Value from FY2013 to FY2014
*Note: The change in market value does NOT represent the rate of return for the institutions investments. Rather, the change in
the market value of an endowment from FY2013 to FY2014 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.
2014
2013
*Change in
State/
Endowment Endowment Market Value
Rank Institution
Funds
Funds
Province
(%)
($000)
($000)
664
Notre Dame University of Maryland
MD
38,980
33,820
15.3
665
Madonna University
MI
38,578
32,786
17.7
666
Lyon College
AR
38,555
38,705
-0.4
667
Foundation for the University of the Virgin Islands
VI
38,184
25,710
48.5
668
Marymount University
VA
37,795
32,603
15.9
669
Mary Baldwin College
VA
37,724
34,306
10.0
670
Hampshire College
MA
37,567
31,040
21.0
671
College of Mount St. Joseph
OH
37,546
32,996
13.8
672
Jacksonville University
FL
37,417
38,540
-2.9
673
The University of North Carolina at Asheville
NC
37,216
32,952
12.9
674
Oklahoma Christian University
OK
37,077
33,044
12.2
675
University of Central Missouri Foundation
MO
36,960
34,065
8.5
676
Harrisburg Area Community College
PA
36,836
32,905
11.9
677
McKendree University
IL
36,770
30,879
19.1
678
McPherson College
KS
36,200
33,754
7.2
679
Buffalo State College Foundation, Inc.
NY
36,010
28,581
26.0
680
Marywood University
PA
35,894
37,699
-4.8
681
Rivier University
NH
35,852
32,023
12.0
682
University of Jamestown
ND
35,221
N/A
N/A
683
University of Wyoming
WY
35,216
33,858
4.0
684
SUNY CortlandCollege Foundation
NY
35,051
28,405
23.4
685
Montana Tech Foundation
MT
34,680
30,207
14.8
686
Barry University, Inc.
FL
34,517
31,325
10.2
687
Clarke University
IA
34,510
32,990
4.6
688
Winston-Salem State University & Foundation
NC
34,308
29,543
16.1
689
Bridgewater State University Foundation, Inc. xvii
MA
34,202
28,747
19.0
690
The University Foundation at Sacramento State
CA
33,655
29,318
14.8
691
Graduate Theological Union
CA
33,458
29,351
14.0
692
Lamar University
TX
33,259
31,300
6.3
693
Sinclair Community College Foundation
OH
32,913
28,669
14.8
694
Robert Morris University
PA
32,692
27,987
16.8
695
Molloy College
NY
32,511
29,746
9.3
696
Parker University
TX
32,394
28,813
12.4
697
National Louis University
IL
32,302
29,844
8.2
698
Coastal Education Foundation, Inc. xviii
SC
32,229
28,137
14.5
699
Delaware Valley College
PA
32,220
30,302
6.3
700
Cazenovia College
NY
32,209
28,826
11.7
701
Virginia State University
VA
32,198
27,349
17.7
702
Rust College, Inc.
MS
31,796
27,239
16.7
703
Dominican University
IL
31,240
26,147
19.5
704
Saint Peters University
NJ
31,053
28,759
8.0
705
Kentucky Wesleyan University
KY
30,902
29,552
4.6

Copyright 2015 National Association of College and University Business Officers and Commonfund Institute.

U.S. and Canadian Institutions Listed by Fiscal Year 2014 Endowment Market Value and Percentage
Change* in Endowment Market Value from FY2013 to FY2014
*Note: The change in market value does NOT represent the rate of return for the institutions investments. Rather, the change in
the market value of an endowment from FY2013 to FY2014 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.
2014
2013
*Change in
State/
Endowment Endowment Market Value
Rank Institution
Funds
Funds
Province
(%)
($000)
($000)
706
Covenant College
GA
30,808
26,577
15.9
707
St. Marys College of Maryland Foundation
MD
30,577
26,693
14.6
708
The Sage Colleges
NY
30,474
27,234
11.9
709
Mercyhurst University
PA
30,187
27,563
9.5
710
Mount Aloysius College
PA
29,999
23,755
26.3
711
Georgia Southwestern Foundation, Inc.
GA
29,208
25,704
13.6
712
Loras College
IA
28,519
23,270
22.6
713
Central Piedmont Community College Foundation, Inc.
NC
28,163
23,199
21,4
714
Olivet Nazarene University
IL
27,977
23,095
21.1
715
Ohio Dominican University
OH
27,943
24,918
12.1
716
Humboldt State University Advancement Foundation
CA
27,724
24,427
13.5
717
Philadelphia University
PA
27,630
24,581
12.4
718
Neumann University
PA
27,615
24,238
13.9
719
Bloomsburg University Foundation
PA
27,538
24,737
11.3
720
Broome Community College Foundation, Inc.
NY
27,340
17,022
60.6
721
Cuesta College Foundation
CA
27,319
21,220
28.7
722
William Mitchell College of Law
MN
27,271
24,049
13.4
723
The Cedarville University
OH
27,251
23,895
14.0
724
The College of New Jersey Foundation, Inc.
NJ
27,049
22,210
21.8
725
University of Central Oklahoma Foundation
OK
27,003
25,488
5.9
726
Wisconsin Lutheran College, Inc.
WI
26,481
18,994
39.4
727
Rocky Mountain College
MT
26,251
22,958
14.3
728
Rhode Island College Foundation
RI
26,090
22,832
14.3
729
Cedar Crest College
PA
25,980
20,961
23.9
730
Mount Mercy University
IA
25,952
23,505
10.4
731
California State University, Los Angeles
CA
25,864
21,148
22.3
732
Meadville Lombard Theological School
IL
25,695
23,196
10.8
733
SUNY Potsdam College Foundation, Inc.
NY
25,603
22,221
15.2
734
University of Saint Joseph
CT
25,603
23,079
10.9
735
Eastern Mennonite University
VA
25,587
22,325
14.6
736
American University in Bulgaria
DC
25,394
22,029
15.3
737
Alverno College
WI
25,317
22,260
13.7
738
Shepherd University Foundation
WV
25,177
23,532
7.0
739
CSU San Bernardino Philanthropic Foundation
CA
24,458
21,313
14.8
740
Mount Saint Vincent University#
NS
23,797
21,035
13.1
741
Utica College
NY
23,609
21,527
9.7
742
University of Rio Grande
OH
23,551
21,370
10.2
743
California State University Bakersfield Foundation
CA
23,498
20,795
13.0
744
Pacific Union College
CA
23,409
21,550
8.6
745
Bradford Education FoundationUniversity of
PA
23,312
19,473
19.7
Pittsburgh at Bradford
746
Northwest Foundation, Inc. xix
MO
23,303
20,010
16.5
747
California State University San Marcos Foundation
CA
23,296
20,528
13.5

Copyright 2015 National Association of College and University Business Officers and Commonfund Institute.

U.S. and Canadian Institutions Listed by Fiscal Year 2014 Endowment Market Value and Change* in
Endowment Market Value from FY2013 to FY2014
*Note: The change in market value does NOT represent the rate of return for the institutions investments. Rather, the change in
the market value of an endowment from FY 2012 to FY2013 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

748
749
750
751
752
753
754
755
756
757
758
759
760
761
762
763
764
765
766
767
768
769
770
771
772
773
774
775
776
777
778
779
780
781
782
783
784
785
786
787
788
789

Huntington University
Colorado Mesa University Foundation
Worcester State Foundation, Inc.
Culver-Stockton College
Peirce College
St. Thomas University
Walla Walla University
Concordia University Chicago
Vaughn College of Aeronautics and Technology
Spartanburg Methodist College
West Chester University of Pennsylvania
Roberts Wesleyan College
Southern Illinois University Edwardsville Foundation
Kutztown University Foundation, Inc.
Grand View University
Marshall B. Ketchum University
Fitchburg State University
Vancouver Island University#
Tri-County Technical College Foundation, Inc.
North Iowa Area Community College
Husson University
Mount Ida College
Cardinal Stritch University, Inc.
California State University, Office of the Chancellor
College of Saint Elizabeth
Fisk University
Southern Connecticut State University Foundation, Inc.
Fayetteville State University
Oswego College Foundation, Inc.
California State University, Monterey Bay
UW Oshkosh Foundation, Inc.
Plattsburgh College Foundation, Inc,
Delta College
Defiance College
Eastern Washington University Foundation
Regis College
Shawnee State University Development Foundation
LeTourneau University
Pacific Northwest College of Art
Ramapo College of New Jersey
Central Oregon Community College Foundation
Cal State East Bay Educational Foundation

State/
Province
IN
CO
MA
MO
PA
FL
WA
IL
NY
SC
PA
NY
IL
PA
IA
CA
MA
BC
SC
IA
ME
MA
WI
CA
NJ
TN
CT
NC
NY
CA
WI
NY
MI
OH
WA
MA
OH
TX
OR
NJ
OR
CA

2014
Endowment
Funds
($000)
23,262
23,013
22,998
22,761
22,739
22,615
22,379
22,147
21,926
21,257
21,195
21,128
20,853
20,504
20,493
20,278
20,070
19,925
19,820
19,806
19,722
19,692
19,588
19,539
19,527
19,468
19,283
19,245
18,608
18,325
18,179
18,023
17,821
17,761
17,659
17,183
17,016
16,738
16,536
16,446
16,141
15,801

2013
Endowment
Funds
($000)
22,416
19,284
18,242
20,981
19,363
19,496
18,894
18,963
22,590
18,566
18,290
18,757
18,713
17,586
18,018
19,451
17,983
16,721
17,203
16,147
14,467
18,948
27,849
14,361
18,579
17,308
15,866
17,874
15,142
15,954
15,684
15,570
15,195
15,727
15,066
16,227
15,795
13,909
15,944
13,986
14,064
13,449

*Change in
Market Value
(%)

Copyright 2015 National Association of College and University Business Officers and Commonfund Institute.

3.8
19.3
26.1
8.5
17.4
16.0
18.4
16.8
-2.9
14.5
15.9
12.6
11.4
16.6
13.7
4.3
11.6
19.2
15.2
22.7
36.3
3.9
-29.7
36.1
5.1
12.5
21.5
7.7
22.9
14.9
15.9
15.8
17.3
12.9
17.2
5.9
7.7
20.3
3.7
17.6
14.8
17.5

U.S. and Canadian Institutions Listed by Fiscal Year 2014 Endowment Market Value and Change* in
Endowment Market Value from FY2013 to FY2014
*Note: The change does NOT represent the rate of return for the institutions investments. Rather, the change in the market value
of an endowment from FY2013 to FY2014 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.
2013
2014
*Change in
State/
Endowment Endowment Market Value
Rank Institution
Funds
Funds
Province
(%)
($000)
($000)
790
University of St. Francis
IL
15,419
14,197
8.6
791
Spalding University
KY
15,276
12,931
18.1
792
Northern Michigan University
MI
15,215
13,875
9.7
793
Lakeland College
WI
15,047
13,007
15.7
794
Kalamazoo Valley Community College
MI
14,940
12,746
17.2
795
Fitchburg State University Foundation, Inc.
MA
14,888
13,005
14.5
796
Holy Names University
CA
14,887
12,528
18.8
797
Trinity Western University#
BC
14,844
12,209
21.6
798
Schoolcraft College Foundation
MI
14,842
12,652
17.3
799
Olivet College
MI
14,444
11,159
29.4
800
Western University of Health Sciences
CA
14,390
12,528
14.9
801
Thomas College
ME
13,829
13,530
2.7
802
Chaminade University of Honolulu
HI
13,643
11,253
21.2
803
California State University Channel Islands
CA
13,341
11,972
11.4
804
Keuka College
NY
13,318
11,422
16.6
805
The Foundation for Florida Gateway College, Inc.
FL
13,311
11,082
20.1
806
Spring Arbor University
MI
13,304
10,985
21.1
807
Universite de Saint-Bonifac#
MB
13,232
11,374
16.3
808
Polytechnic University of Puerto Rico
PR
13,173
12,719
3.6
809
Holyoke Community College Foundation, Inc.
MA
13,042
10,016
30.2
810
Virginia State University Foundation
VA
12,947
10,842
19.4
811
Mid-America Baptist Theological Seminary
TN
12,698
15,142
-16.1
812
Hesston College
KS
12,518
10,482
19.4
813
Five Colleges, Inc.
MA
12,013
10,849
10.7
814
California State University, Stanislaus
CA
11,954
10,731
11.4
815
New England College
NH
11,915
9,275
28.5
816
California State University, Dominguez Hills Foundation
CA
11,844
11,160
6.1
817
Weber State University Foundation
UT
11,696
10,423
12.2
818
Nipissing University#
ON
11,557
10,927
5.8
819
Boston Architectural College
MA
10,711
9,604
11.5
820
Canton College Foundation, Inc.
NY
10,710
9,355
14.5
821
Saint Mary-of-the-Woods College
IN
10,465
9,523
9.9
822
Centenary College
NJ
10,430
3,337
212.6
823
Foundation for Reading Area Community College
PA
10,416
8,854
17.6
824
Warner Pacific College
OR
10,248
9,632
6.4
825
Massachusetts College of Liberal Arts Foundation, Inc.
MA
10,175
8,894
14.4
826
Dakota State University Foundation
SD
9,794
8,363
17.1
827
Northeast State Community College Foundation
TN
9,560
8,209
16.5
828
Antioch University
OH
9,553
8,440
13.2
829
Houston Community College Foundation
TX
9,328
N/A
N/A

Copyright 2015 National Association of College and University Business Officers and Commonfund Institute.

U.S. and Canadian Institutions Listed by Fiscal Year 2014 Endowment Market Value and Change* in
Endowment Market Value from FY2013 to FY2014
*Note: The change in market value does NOT represent the rate of return for the institutions investments. Rather, the change in
the market value of an endowment from FY2013 to FY2014 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.
2013
2014
*Change in
State/
Endowment Endowment Market Value
Rank Institution
Funds
Funds
Province
(%)
($000)
($000)
830
Florida Memorial University
FL
8,354
9,276
-9.9
831
Pellissippi State Community College Foundation
TN
8,253
6,953
18.7
832
Southeastern University
FL
8,149
6,811
19.6
833
Keystone College
PA
8,107
7,462
8.6
834
Oakton Community College Educational Foundation
IL
8,084
6,862
17.8
835
Mitchell College
CT
7,569
6,262
20.9
836
J. Sargeant Reynolds Community College Educational
VA
7,497
6,335
18.3
Foundation, Inc.
837
Blue Ridge Community College Educational Foundation,
VA
6,872
5,999
14.6
Inc.
838
California Maritime Academy Foundation, Inc.
CA
6,730
5,409
24.4
839
Great Basin College Foundation
NV
6,105
4,582
33.2
840
Harford Community College Foundation
MD
6,022
5,119
17.7
841
Bergen Community College Foundation
NJ
6,015
5,426
10.9
842
College of St. Joseph
VT
5,720
5,198
10.0
843
Elgin Community College
IL
5,280
4,469
18.2
844
Naval Postgraduate School Foundation
CA
5,182
4,461
16.2
845
Hillsborough Community College Foundation
FL
4,787
3,712
28.9
846
Midlands Technical College
SC
4,198
4,004
4.8
847
Lakeland Community College
OH
3,079
2,450
25.6
848
Texas College
TX
2,712
2,410
12.5
849
Labour College
MA
2,561
2,169
18.1
850
Georgia Perimeter College
GA
1,399
1,167
19.8
851
Southern Virginia University
VA
894
714
25.2
Average
Median

---

616,188
112,967

535,740
97,127

15.0
16.3

Notes:
N/A=Not Available.
#

Endowment market value data for Canadian institutions are expressed in U.S. dollars, based on the U.S./Canadian
dollar conversion rates in effect on or around June 30, 2014 (for FY2014) and June 30, 2013 (for FY2013) , as
reported by the Bank of Canada Web site (http://www.bankofcanada.ca/en/rates/exchform.html). Data from
Canadian institutions is NOT included in the full 2014 NCSE report.
This table was prepared in January 2015. Changes to endowment values reported after January may not be reflected
in the full 2014 NCSE report.

Total includes endowment assets from The Texas A&M University System and multiple supporting foundations,
including Texas A&M Foundation. The full 2014 NCSE report incorporates separate information for Texas A&M
University System and Texas A&M Foundation.
ii
Fiscal year end is August 31 but reporting endowment market values for June 30.

Copyright 2015 National Association of College and University Business Officers and Commonfund Institute.

iii

Total includes endowment assets from the University of Minnesota and the University of Minnesota Foundation.
The full 2014 NCSE report incorporates separate information for each of these individual institutions.
iv
Total includes endowment assets from the University of Illinois and the University of Illinois Foundation. The full
2014 NCSE report incorporates separate information for each of these individual institutions.
v
Total includes endowment assets from Indiana University, Indiana University Foundation, and Riley Childrens
Foundation.
vi
The total includes the combined endowment assets of Carnegie Mellon University and a portion of assets held by
the Dietrich Foundation reflecting CMUs allocation as a named beneficiary. The full 2014 NCSE report reflects
information for the CMU endowment only.
vii
Total endowment includes data from all institutions in the LSU System. However, the full 2014 NCSE report is
based on data solely from the LSU Foundation, the largest segment.
viii
Total includes endowment assets from the University System of New Hampshire and the University of New
Hampshire Foundation. The full 2014 NCSE report incorporates separate information for each of these individual
institutions.
ix
Total includes endowment assets from the Oregon Health and Sciences University Foundation and the
Doernbecher Childrens Hospital Foundation.
x
Total includes assets from the Western Michigan Foundation and Paper Technology Foundation.
xi
All amounts are for fiscal year end of May 31.
xii
Fiscal year end is May 31 but reporting endowment values for June 30.
xiii
Total includes endowment assets from the University, the Educational Foundation, the Athletic Foundation, and
the Real Estate Foundation.
xiv
Data do NOT include endowment assets from the Law School Foundation.
xv
Total endowment includes assets from Appalachian State University and Appalachian State University
Foundation. All other sections of the full 2014 NCSE report include information for Appalachian State University
Foundation only except as otherwise noted.
xvi
Total includes endowment assets from Indiana University of Pennsylvania and the Indiana University of
Pennsylvania Foundation. The full 2014 NCSE report incorporates separate information for each of these individual
institutions.
xvii
Totals include endowment assets from the Bridgewater Alumni Association
xviii
Endowment for Coastal Carolina University.
xix
Foundation for the Northwest Missouri State University.

Copyright 2015 National Association of College and University Business Officers and Commonfund Institute.