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FY23 NACUBO-Commonfund Study Released

February 15, 2024 |
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FY23 NACUBO-Commonfund Study Released
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U.S. Higher Education Endowments Report 7.7% Return for FY23 
While Spending More in Support of Their Missions

50th anniversary NACUBO-Commonfund Study shows participating colleges and universities spent a collective $28.4 billion from their endowments in FY23


WASHINGTON, DC (February 15, 2024)—Data from the 2023 NACUBO-Commonfund Study of Endowments® (NCSE) show that the endowments of 688 participating U.S. colleges and universities and affiliated foundations returned 7.7 percent, net of fees, for FY23 (July 1, 2022, to June 30, 2023), a sharp reversal of the -8.0 percent return reported for FY22.

In total, participating institutions withdrew $28.4 billion from their endowments during the fiscal year, an 8.4 percent year-over-year increase. According to the report, the largest share of institutions’ spending policy distributions in FY23, 47.7 percent, went to student financial aid; other spending was distributed across academic programs and included research (17.5 percent), endowed faculty positions (11.1 percent), operation and maintenance of campus facilities (7.4 percent), and all other purposes (16.4 percent).

“From the point of view of college and university chief business officers, the results of this year’s endowment study are ideal—a sound rate of return demonstrating good fiscal stewardship leading to additional resources available to the students, faculty, and programs that are our core mission,” said NACUBO President and CEO Kara D. Freeman. “Endowments are complex and managing them in the current financial environment can be difficult, but we see from this fiscal year 2023 data that our students, donors and institutions are being well served.”

Download the full press release. 

Request your copy of the latest NACUBO-Commonfund Study of Endowmentes

Media Contacts  

NACUBO
Katy McCreary
Director of Public Relations
kmcreary@nacubo.org

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

 

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.

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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.

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