Endowments

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

Response:

At the end of fiscal year 2020, the market value of the endowment funds of colleges and universities was $691 billion, which was 2 percent higher than the beginning of the fiscal year, when the total was $675 billion.

The five institutions with the largest endowments at the end of fiscal year 2020 were Harvard University ($42 billion), Yale University ($31 billion), The University of Texas System ($31 billion), Stanford University ($29 billion), and Princeton University ($26 billion).

Endowment funds of the 20 degree-granting postsecondary institutions with the largest endowments, by rank order: Fiscal year (FY) 2020
Institution	Rank order1	Market value of endowment (in thousands)
		Beginning of FY	End of FY
United States (all institutions)	†	$675,407,269	$691,019,781
Harvard University	1	40,929,700	41,894,380
Yale University	2	30,314,816	31,201,686
The University of Texas System Office	3	29,842,396	30,522,120
Stanford University	4	27,699,834	28,948,111
Princeton University	5	25,623,628	25,944,283
Massachusetts Institute of Technology	6	17,443,750	18,381,518
University of Pennsylvania	7	14,649,761	14,877,363
Texas A & M University–College Station	8	12,632,093	12,720,530
University of Notre Dame	9	11,565,964	12,319,422
University of Michigan–Ann Arbor	10	12,273,834	12,308,473
University of California–System Administration Central Office	11	11,891,155	12,267,010
Columbia University in the City of New York	12	10,950,738	11,257,021
Emory University	13	8,626,248	9,169,028
Washington University in St Louis	14	8,008,925	8,489,294
Northwestern University	15	8,244,818	8,484,706
Duke University	16	8,609,004	8,474,071
University of Chicago	17	7,244,603	7,199,521
University of Virginia–Main Campus	18	6,953,904	7,146,476
Vanderbilt University	19	6,270,877	6,917,371
Cornell University	20	6,974,637	6,882,708

† Not applicable.
¹ Institutions ranked by size of endowment at end of 2020 fiscal year.

NOTE: Data in this table represent the 50 states and the District of Columbia. Degree-granting institutions grant associate's or higher degrees and participate in Title IV federal financial aid programs. In addition to individual degree-granting institution campuses, this table includes two state university systems (University of Texas System Office and University of California System Admin Central Office).

SOURCE: National Center for Education Statistics. (2022). Table 333.90. Endowment funds of the 120 degree-granting postsecondary institutions with the largest endowments, by rank order: Fiscal year 2020 [Data table]. In Digest of education statistics. U.S. Department of Education, Institute of Education Sciences. Retrieved August 22, 2022, from https://nces.ed.gov/programs/digest/d21/tables/dt21_333.90.asp?current=yes.

Related Tables and Figures:  (Listed by Release Date)

• 2022, IPEDS Data Explorer, Amount and % distribution of revenues and expenses of all Title IV institutions and administrative offices, by level and control of institution or administrative office, accounting standards utilized, and source of funds and type of expense: United States, fiscal year 2020
  

Other Resources:  (Listed by Release Date)

• 2022, The Integrated Postsecondary Education Data System (IPEDS): IPEDS is a system of surveys designed to collect data from all primary providers of postsecondary education.