Sample Collection The CASE InfoCenter maintains this collection of endowment investment and spending policies.
Congressional Scrutiny of Endowments
Concerned about the rising cost of college, Congress has been examining the investment and spending practices related to college and university endowments.
Report: College and University Endowment Returns Down Sharply in FY12
Article Results from a recent survey on U.S. university and college endowments are in line with the Voluntary Support of Education survey findings.
Report: U.S. Colleges, Universities See Increase in FY11 Endowment Returns
Article A recently released report shows that endowments at colleges and universities in the United States earned an average return of 19.2 percent during the 2011 fiscal year. This marks the second consecutive increase following a nearly 19 percent decline in fiscal year 2009.
NACUBO, Commonfund Find Endowments Returned 19.8 Percent in FY 2011
Article U.S. college and university endowments saw an average return of 19.8 percent in fiscal year 2011, according to preliminary data from the 2011 National Association of College and University Business Officers and Commonfund Institute’s Endowment Study. The data reflected returns at 284 colleges and universities.
Survey Looks at Institutionally Related Foundation Funding
Article About 72 percent of community college foundations had endowments valued at less than $10 million last fiscal year. The mean amount of private support raised per community college foundation was around $1.8 million. These are among the findings of a 2010 CASE survey of institutionally related foundations affiliated with public institutions of higher education in the United States.
CURRENTS Article This brief article looks at Rye Country Day School's yearly effort to solicit gifts from parents of graduating seniors, thereby expanding its endowment. Parents are encouraged to double their most recent gift to the annual fund. In recent years, parent participation has consistently exceeded 95 percent.
U.S. Colleges, Universities Report Endowment Growth
Article A new study shows that the value of educational endowments grew an average of 11.9 percent during the 2010 fiscal year, representing a sharp improvement over the 18.7 percent decline reported in 2009.
NACUBO-Commonfund Study of Endowments
National Association of College and University Business Officers
NACUBO shares select data on U.S. college and university endowments from the annual NACUBO-Commonfund Study of Endowments and the previously named NACUBO Endowment Study.
Article During the recession, endowments were hit hard by the sharp decline in the value of financial assets and by a reduction in grants, gifts, donations and planned giving resulting from a weak economy. This article from Commonfund's Chronicle Mission Matters (Winter 2011) reports on the conversation of experts who discuss the challenges and opportunities associated with rebuilding nonprofit endowments. CASE President John Lippincott took part in the conversation.
Major Gifts in 2011 and Beyond
Product This webinar discusses the new tax environment, which has created immense opportunities for major gifts for capital campaigns, major gifts programs and endowment campaigns. The speaker discusses how organizations can benefit from this situation and help donors increase their giving. This multimedia file is a recording of a webinar originally presented Feb. 17, 2011.
Spending and Management of Endowments Under UPMIFA: Findings of a Survey of Colleges, Universities and Institutionally Related Foundations
Association of Governing Boards of Universities and Colleges and Commonfund Institute
AGB conducted a survey of U.S. institutions in states that had enacted the Uniform Prudent Management of Institutional Funds Act, or UPMIFA. The survey was conducted to learn how institutions were managing endowment spending under UPMIFA and to inform decision making by boards, finance officers and endowment managers. This page provides a summary of the results, a link to the full survey report and additional resources.
Endowment Levels Up but Canadian Institutions Remain Cautious
Article Endowments have rebounded at many Canadian universities, but most institutions remain concerned about endowment spending and plan to keep cost-saving measures in place.
Glossary of Terms
This extensive glossary defines a variety of financial and endowment management terms.
Some Institutions See Better Endowment Numbers
Article A slight uptick in the stock and bond markets has some U.S. institutions adjusting their projected endowment losses, according to a July 13 Bloomberg article.
Talking Points: Underwater Funds
CURRENTS Article For U.S. institutions, understanding the regulations associated with spending from underwater endowments has never been more important. This Talking Points column discusses what actions are permissible under UMIFA and UPMIFA.
Grassley to Continue Scrutiny of Charities, Including Colleges and Universities
Article In remarks delivered at a March 10 event in Washington, D.C., Sen. Charles Grassley (R-Iowa) said he will continue his diligent oversight of the charitable sector.
These resources explain "underwater" endowment funds and laws that govern expenditure of these funds. Sample spending policies from institutions under UPMIFA and other laws are included.
NACUBO Publishes New Report; Legislators React
Article Recently released data reveal that college and university endowments have taken a significant hit due to the economic downturn.
CURRENTS Article An interview with CASE Director of Government Relations Brian Flahaven provides insight about the federal scrutiny of educational endowments. This version of the interview contains additional information available online only.
President's Perspective: Endowed with Wisdom
CURRENTS Article CASE President John Lippincott describes why legislative attention to educational endowments is both welcome and worrisome.
Closing Remarks: Come Together Over Me
CURRENTS Article The author proposes that the 12 institutions affiliated with the African Methodist Episcopal Church combine their fundraising efforts to create one endowment.
Advance Work: Here's to Your Health
CURRENTS Article The future of these independent schools is looking good.
Closing Remarks: Those Enormous Endowments
CURRENTS Article The endowments of the richest U.S. colleges and universities are big and becoming enormous. The author posits that U.S. higher education is losing its way and proposes a way to rectify the disparity between rich and and not-so-rich institutions.
Talking Points: Endowments 101
CURRENTS Article This Talking Points column discusses the purpose of an endowment, how its spending is determined, and how it works to support the organization's mission.
Advance Work: Gifts that Grow
CURRENTS Article A recent study compares the top five endowments in the United Kingdom to those in the United States.
To Preserve and Protect
CURRENTS Article Endowment management and stewardship are complicated by a wide range of internal and external issues. Today's donors, in addition to wanting more information about how institution leaders are investing and spending their gifts, want to be reassured that the spirit of their gifts is being honored. This article describes the philanthropic climate in which endowment managers are operating and identifies specific strategies that development officers should incorporate into their endowment stewardship efforts.
Talking Points: That Sinking Feeling
CURRENTS Article Recent stock market declines have highlighted a provision of the Uniform Management of Institutional Funds Act (UMIFA) that's causing problems for institutions whose endowed funds have dropped below their historic values--otherwise known as underwater endowments.
Closing Remarks: A Bumpy Ride
CURRENTS Article Advancement and foundation officers’ priority is to protect endowment income for their campuses. As the market downturn has been accompanied by a recession, two of three college and university endowments declined in value in fiscal year 2001—the first such decline since 1984. Here are some tips on how to bear with the natural ups and downs of the market.
AdvanceWork: Sharing the Wealth
CURRENTS Article Problem/Solution