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Endowments

Question:
How large are the endowments of colleges and universities in the United States?

Response:

At the end of fiscal year 2018, the market value of the endowment funds of colleges and universities was $648 billion, reflecting an increase of 9 percent since the beginning of the fiscal year, when the total was $597 billion. At the end of fiscal year 2018, the 120 institutions with the largest endowments accounted for $482 billion, or about three-fourths of the national total. The five institutions with the largest endowments at the end of fiscal year 2018 were Harvard University ($39 billion), the University of Texas System ($31 billion), Yale University ($29 billion), Stanford University ($26 billion), and Princeton University ($25 billion).

SOURCE: U.S. Department of Education, National Center for Education Statistics. (2021). Digest of Education Statistics, 2019 (NCES 2021-009), Chapter 3.

Endowment funds of the 20 degree-granting postsecondary institutions with the largest endowments, by rank order:
Fiscal year (FY) 2018
Institution Rank order1 Market value of endowment (in thousands of dollars)
Beginning of FY End of FY
United States, all institutions $597,008,695 $648,043,073
Harvard University (MA) 1 37,096,474 39,233,736
University of Texas System Office 2 25,947,842 30,597,370
Yale University (CT) 3 27,216,639 29,444,936
Stanford University (CA) 4 24,784,943 26,464,912
Princeton University (NJ) 5 23,353,233 25,438,281
Massachusetts Institute of Technology 6 14,832,483 16,400,027
University of Pennsylvania 7 12,213,207 13,777,441
Texas A & M University, College Station 8 10,812,432 12,688,651
University of Michigan, Ann Arbor 9 10,777,563 11,733,013
University of Notre Dame (IN) 10 9,684,936 11,065,058
Columbia University in the City of New York (NY) 11 9,996,596 10,869,245
University of California System Admin. Central Office 12 9,837,900 10,828,968
Duke University (NC) 13 7,911,175 8,524,846
Northwestern University (IL) 14 7,947,574 8,386,918
Emory University (GA) 15 7,613,022 7,985,467
Washington University in St. Louis (MO) 16 7,214,958 7,687,392
University of Chicago (IL) 17 6,617,076 7,009,012
Cornell University (NY) 18 6,516,445 6,871,481
University of Virginia, Main Campus 19 6,308,922 6,856,258
Rice University (TX) 20 5,835,568 6,228,857

† Not applicable.
1 Institutions ranked by size of endowment at end of 2018 fiscal year.
NOTE: Degree-granting institutions grant associate's or higher degrees and participate in Title IV federal financial aid programs.
SOURCE: U.S. Department of Education, National Center for Education Statistics. (2021). Digest of Education Statistics, 2019 (NCES 2021-009), Table 333.90.

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