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Foundations' Endowed Portfolios Produced Double-Digit Investment Returns in 2024

August 27, 2025 |
2 minute read
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Foundations' Endowed Portfolios Produced Double-Digit Investment Returns in 2024
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Long-Term Return Data Also Positive Council on Foundations-Commonfund Study finds

Outsourcing on the rise; gifts to community foundations increased

Wilton, Conn. (August 27, 2025) — In the volatile but ultimately supportive market environment of 2024, average annual returns on foundation endowments landed in double-digit positive territory from the previous year for the 255 foundations surveyed in the annual Council on Foundations–Commonfund Study of Investment of Endowments for Private and Community Foundations® (CCSF; the “Study”).

The average 2024 calendar year return on these endowed funds for the 154 private foundations participating in the Study was 10.3 percent, down from 12.6 percent reported for the 2023 Study. Similarly, for the 101 participating community foundations, the average 2024 return was 11.0 percent, from 14.1 percent in 2023. This marks the second year in a row that both foundation segments reported double-digit returns, stabilizing from the dramatic year-over-year swings reported in the prior two studies, including double digit declines in 2022 (all return data reported net of fees).

Strong one-year returns 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 10-year returns of 7.3 percent (up from 7.1 percent in 2023 and matching the rate in 2022) and community foundations reported 10-year returns of 7.0 percent (from 6.2 percent last year and 6.4 percent in 2022).

For the first time in Study history, foundations reported for the 15- and 20-year net annualized returns on their endowments. Private foundations reported 7.5 percent and 6.4 percent on average for the two time periods, respectively, and community foundations reported 7.2 percent and 6.3 percent.

“We’re heartened to see double-digit positive returns for the second year in a row as many foundations increase their giving to further support nonprofit partners,” Kathleen Enright, President and CEO of the Council on Foundations, and George Suttles, Executive Director of Commonfund Institute, said in a joint statement. “As new challenges arise and endowments are inevitably affected by the rising and falling of the markets, we’re confident that foundations will continue to serve as bedrocks for the communities and causes they support, today and tomorrow.”

With data reported by 255 private and community foundations representing $104.9 billion in combined assets, the CCSF is the most comprehensive annual survey of its kind. The 2024 Study marks the 13th year that the Council on Foundations and Commonfund Institute, two leading organizations in 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 2024 Study.

Media Contacts  

Chandler Stearns
Prosek Partners
646-818-9175
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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