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Foundation Endowments Post Double-Digit Returns | 2025 CCSF Study

August 19, 2026 |
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Foundation Endowments Post Double-Digit Returns | 2025 CCSF Study
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Foundations’ Endowed Portfolios Produced Double Digit Investment Returns in 2025; Alts Returns Rebound Council on Foundations-Commonfund Study finds

Community Foundations Report Rising Gifts and OCIO Use Continues to Grow

Norwalk, Conn. (August 19, 2026) — In a market environment that again proved supportive despite periodic volatility, average annual returns on foundation endowments landed in double-digit positive territory for the third consecutive year among the 285 foundations surveyed in the annual Council on Foundations–Commonfund Study of Investment of Endowments for Private and Community Foundations® (CCSF; the "Study").

The average 2025 calendar year return on these endowed funds for the 171 participating private foundations was 14.1 percent, up from 10.3 percent reported in the 2024 Study. Similarly, for the 114 participating community foundations, the average 2025 return was 14.7 percent, up from 11.0 percent in 2024. This marks the third year in a row that both foundation segments have reported double-digit returns—the longest such streak in Study history—following the lowest average returns on record in 2022. (All return data reported net of fees.)

Strong one-year numbers bolstered longer-term returns, which reflect foundations' ability to finance their missions and program commitments going forward. Ten-year average annual returns increased for both segments: private foundations reported 9.0 percent (up from 7.3 percent in 2024), and community foundations reported 8.6 percent, up from 7.0 percent in 2024. 

For the second year that the Study has collected this data, private and community foundations reported 15- and 20-year net annualized returns. Private foundations reported 8.1 percent and 7.2 percent on average for the two time periods, respectively as of December 31, 2025, and community foundations reported 7.9 percent and 7.1 percent—continued improvement from last year's inaugural figures of 7.5 and 6.4 percent and 7.2 and 6.3 percent, respectively.

“Foundations are in a strong position to weather whatever volatility comes next, but the long-term picture stands out most," said Kathleen Enright, President and CEO of the Council on Foundations, and George Suttles, Executive Director of Commonfund Institute, in a joint statement. "With two years of 15- and 20-year data now in hand, we're seeing evidence that foundations are able to sustain their endowments over time which enables them to fund in ways that serve communities now and for decades to come.”

With data reported by 285 private and community foundations, representing $126.9 billion in combined assets, the CCSF remains the most comprehensive annual survey of its kind. The 2025 Study marks the 14th year that the Council on Foundations and Commonfund Institute, two leading organizations in the field of foundation investment and governance policies and practices, have partnered to produce this research. The Study reports data from private and community foundations separately to reflect the differing structures of the two foundation types and, for deeper analysis, also breaks both types into three cohorts segmented by endowment size.

Download the full press release for additional highlights from the data collected and analyzed in the 2025 Study.

Media Contacts  

Emily Roy
Prosek Partners
646-818-9232
pro-commonfund@prosek.com

Jason Ludwig
Council on Foundations
202-558-0818
jason.ludwig@cof.org

 

Commonfund Institute

Author

Commonfund Institute

Disclaimer

Certain information contained herein has been obtained from or is based on third-party sources and, although believed to be reliable, has not been independently verified. Such information is as of the date indicated, if indicated, may not be complete, is subject to change and has not necessarily been updated. No representation or warranty, express or implied, is or will be given by The Common Fund for Nonprofit Organizations, any of its affiliates or any of its or their affiliates, trustees, directors, officers, employees or advisers (collectively referred to herein as “Commonfund”) or any other person as to the accuracy or completeness of the information in any third-party materials. Accordingly, Commonfund shall not be liable for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on any statement in, or omission from, such third-party materials, and any such liability is expressly disclaimed.

All rights to the trademarks, copyrights, logos and other intellectual property listed herein belong to their respective owners and the use of such logos hereof does not imply an affiliation with, or endorsement by, the owners of such trademarks, copyrights, logos and other intellectual property.

To the extent views presented forecast market activity, they may be based on many factors in addition to those explicitly stated herein. Forecasts of experts inevitably differ. Views attributed to third-parties are presented to demonstrate the existence of points of view, not as a basis for recommendations or as investment advice. Market and investment views of third-parties presented herein do not necessarily reflect the views of Commonfund, any manager retained by Commonfund to manage any investments for Commonfund (each, a “Manager”) or any fund managed by any Commonfund entity (each, a “Fund”). Accordingly, the views presented herein may not be relied upon as an indication of trading intent on behalf of Commonfund, any Manager or any Fund.

Statements concerning Commonfund’s views of possible future outcomes in any investment asset class or market, or of possible future economic developments, are not intended, and should not be construed, as forecasts or predictions of the future investment performance of any Fund. Such statements are also not intended as recommendations by any Commonfund entity or any Commonfund employee to the recipient of the presentation. It is Commonfund’s policy that investment recommendations to its clients must be based on the investment objectives and risk tolerances of each individual client. All market outlook and similar statements are based upon information reasonably available as of the date of this presentation (unless an earlier date is stated with regard to particular information), and reasonably believed to be accurate by Commonfund. Commonfund disclaims any responsibility to provide the recipient of this presentation with updated or corrected information or statements. Past performance is not indicative of future results. For more information please refer to Important Disclosures.

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