You have /5 articles left.
Sign up for a free account or log in.
The 2022 NACUBO-TIAA Study of Endowments (NTSE) results provide a wealth of data for understanding university wealth. A table I’ve been spending time with is one that gives the fiscal 2022 endowment value per full-time-equivalent student.
The table provides endowment data on 635 institutions, drawn from the 678 institutions that reported data for the NACUBO study. As the Feb. 17 press release that announced the report notes, fiscal year 2022 was a particularly bad year for university endowments. In fiscal ’22, the average endowment lost 8 percent of its value. This compares to average gains of over 30 percent in FY21.
While total endowment size gets the most attention, a better measure might be endowment per full-time student. Universities with large endowments spread over many students are more constrained in how they utilize these funds. University wealth is a determinant and measure of institutional resilience, flexibility, impact and ambitions. The larger the per-student endowment, the longer time frames (measured in decades) colleges and universities can plan for.
What I’m curious to understand is how wealth interacts with, drives and determines institutional strategy. Which way does the causal arrow point?
Are institutional strategies determined by the goal of wealth creation, or does wealth drive strategy? And what do we mean when we say a school is wealthy?
Is a university’s wealth like a person's wealth, or are better analogues to be found in other nonprofit organizations (museums, foundations, etc.) or for-profit companies?
A quick note that these questions and others are inspired in part by a fantastic book I’m now reading, Wealth, Cost and Price in American Higher Education: A Brief History (Johns Hopkins University Press, 2023).
For now, I’m just trying to get my head around universities as viewed through a prism of wealth. As a starting place, I’ll reprint the NACUBO data on endowment per FTE, sorted from high to low.
| Institution name | FY22 total endowment market value (in $1,000s) | FY22 endowment value per full-time-equivalent student ($) |
| The Trustees of Princeton University | $35,794,186 | $4,067,983 |
| Yale University | $41,383,300 | $2,868,064 |
| Stanford University | $36,300,000 | $2,139,952 |
| Massachusetts Institute of Technology | $24,739,862 | $2,090,222 |
| Harvard University | $49,444,494 | $2,013,622 |
| Amherst College | $3,321,853 | $1,685,364 |
| Swarthmore College | $2,725,238 | $1,650,659 |
| Williams College | $3,534,369 | $1,607,993 |
| Pomona College | $2,749,865 | $1,563,312 |
| Columbia Theological Seminary | $262,315 | $1,561,400 |
| California Institute of Technology | $3,635,000 | $1,516,479 |
| Trustees of Grinnell College | $2,484,419 | $1,437,742 |
| University of Notre Dame | $16,729,299 | $1,292,237 |
| Bowdoin College | $2,474,541 | $1,269,647 |
| Austin Presbyterian Theological Seminary | $141,588 | $1,247,470 |
| The Principia Corporation | $855,284 | $1,244,955 |
| Wellesley College | $2,846,865 | $1,196,665 |
| Dartmouth College | $8,065,743 | $1,192,981 |
| Smith College | $2,467,996 | $997,170 |
| Berea College | $1,438,286 | $991,921 |
| Rice University | $7,814,267 | $982,185 |
| Baylor College of Medicine | $1,494,256 | $945,133 |
| The Medical College of Wisconsin | $1,511,835 | $934,963 |
| Washington & Lee University | $1,998,334 | $894,509 |
| University of Richmond | $3,153,393 | $867,110 |
| Trustees of the University of Pennsylvania | $20,724,352 | $839,077 |
| University of California San Francisco Foundation | $2,620,126 | $824,458 |
| Claremont McKenna College | $1,142,670 | $805,832 |
| Washington University | $12,252,329 | $794,729 |
| Vanderbilt University | $10,206,067 | $787,384 |
| Northwestern University | $14,121,488 | $693,590 |
| Christian Theological Seminary | $71,372 | $686,265 |
| Bryn Mawr College | $1,144,940 | $683,139 |
| Duke University | $12,116,260 | $673,013 |
| Emory University | $9,997,742 | $670,300 |
| Davidson College | $1,316,043 | $667,026 |
| Trinity University | $1,704,816 | $646,743 |
| Webb Institute | $65,838 | $627,030 |
| Hamilton College | $1,275,562 | $622,529 |
| Earlham College | $426,217 | $600,306 |
| Brown University | $6,141,243 | $594,046 |
| Meadville Theological School of Lombard College | $29,983 | $557,818 |
| Berry College | $1,236,198 | $544,101 |
| Carleton College | $1,093,698 | $535,077 |
| The President and Trustees of Colby College | $1,122,451 | $496,221 |
| Concordia Seminary | $180,740 | $479,417 |
| Vassar College | $1,196,336 | $475,491 |
| Reed College | $721,766 | $472,360 |
| Denison University | $1,068,552 | $462,176 |
| Wabash College | $385,200 | $459,666 |
| Oregon Health and Science University Foundation | $1,200,089 | $445,908 |
| Harvey Mudd College | $401,525 | $444,559 |
| Whitman College | $683,569 | $440,501 |
| Trustees of Mount Holyoke College | $1,002,549 | $439,136 |
| Haverford College | $618,975 | $436,205 |
| Trustees of Columbia University | $13,279,846 | $434,835 |
| Wesleyan University | $1,485,020 | $431,654 |
| St. John’s College | $202,898 | $430,324 |
| DePauw University | $719,982 | $421,535 |
| Middlebury College | $1,467,208 | $421,248 |
| Virginia Military Institute Foundation | $660,302 | $415,285 |
| Scripps College | $460,616 | $414,223 |
| University of Virginia | $9,858,442 | $410,871 |
| Oberlin College | $1,201,825 | $408,506 |
| Cornell University | $9,838,198 | $395,108 |
| Johns Hopkins University | $8,244,472 | $389,147 |
| Colgate University | $1,197,412 | $379,048 |
| Macalester College | $830,478 | $374,258 |
| The Colorado College | $822,931 | $370,356 |
| Lafayette College | $1,000,969 | $369,089 |
| Trinity College | $780,152 | $363,368 |
| University of Tulsa | $1,269,395 | $345,790 |
| Furman University | $812,285 | $331,952 |
| College of the Holy Cross | $992,627 | $316,325 |
| Centre College of Kentucky | $408,796 | $309,694 |
| Loma Linda University | $1,221,628 | $294,723 |
| University of Michigan | $17,347,188 | $294,469 |
| Lawrence University | $440,839 | $294,285 |
| Occidental College | $575,933 | $291,656 |
| Medical College of Georgia Foundation | $277,725 | $290,204 |
| Bucknell University | $1,070,375 | $286,197 |
| Kenyon College | $517,007 | $276,326 |
| Hollins University | $214,659 | $274,500 |
| Mills College | $191,164 | $273,482 |
| Hampden-Sydney College | $231,544 | $273,369 |
| Dickinson College | $583,477 | $270,379 |
| Carnegie Mellon University | $3,856,808 | $254,810 |
| University of Rochester | $2,739,187 | $254,146 |
| Washington College | $257,248 | $252,452 |
| Lehigh University | $1,679,807 | $247,103 |
| Southwestern University | $366,390 | $245,665 |
| The University of the South | $439,971 | $245,657 |
| Erikson Institute | $55,309 | $241,525 |
| Union College | $498,108 | $239,130 |
| Trustees of Boston College | $3,336,600 | $235,303 |
| Bates College | $418,544 | $229,843 |
| Connecticut College | $416,635 | $229,298 |
| Brandeis University | $1,205,168 | $228,902 |
| St. Olaf College | $666,028 | $224,101 |
| University of Texas System | $42,668,276 | $223,364 |
| Average (all institutions) | $1,185,440 | $218,866 |
| Spelman College | $459,463 | $218,792 |
| Wake Forest University | $1,819,776 | $216,640 |
| Wofford College | $378,837 | $216,231 |
| Ohio Wesleyan University | $277,679 | $207,999 |
| Gateway Seminary | $56,062 | $206,112 |
| Wheaton College | $529,360 | $204,940 |
| Texas Christian University | $2,400,814 | $204,743 |
| University of Puget Sound | $427,977 | $202,449 |
| Agnes Scott College | $218,549 | $202,422 |
| Allegheny College | $264,304 | $198,426 |
| Rhodes College | $394,337 | $195,993 |
| Claremont Graduate University | $193,133 | $194,103 |
| The College of Wooster | $374,948 | $191,789 |
| Case Western Reserve University | $2,188,161 | $190,856 |
| Tufts University | $2,350,755 | $189,089 |
| Southern Methodist University | $1,958,460 | $188,816 |
| Georgetown University | $3,210,032 | $186,272 |
| Franklin and Marshall College | $396,835 | $184,061 |
| Asbury Theological Seminary | $200,735 | $181,825 |
| Santa Clara University | $1,471,579 | $181,789 |
| University of North Carolina at Chapel Hill and Foundations | $5,317,821 | $180,498 |
| Lycoming College | $195,196 | $180,236 |
| Philadelphia College of Osteopathic Medicine | $539,945 | $180,042 |
| Babson College | $660,904 | $178,768 |
| Meharry Medical College | $169,169 | $175,852 |
| University of Health Sciences and Pharmacy in St. Louis | $137,233 | $175,489 |
| University of Pittsburgh | $5,528,910 | $173,190 |
| Medical College of Virginia Foundation | $692,383 | $171,356 |
| Illinois Wesleyan University | $269,723 | $163,172 |
| University of the Ozarks | $126,792 | $162,762 |
| Goucher College | $243,311 | $161,991 |
| Saint John's University | $257,884 | $161,581 |
| Skidmore College | $426,879 | $160,180 |
| Hanover College | $159,263 | $159,422 |
| St. Lawrence University | $352,923 | $157,064 |
| Pepperdine University | $1,205,436 | $155,882 |
| Muhlenberg College | $308,509 | $153,717 |
| Tulane University | $2,051,940 | $152,595 |
| William & Mary and Foundations | $1,301,722 | $150,610 |
| Trustees of Clark University | $487,169 | $150,547 |
| The Texas A&M University System & Related Foundations | $18,243,191 | $149,232 |
| California Institute of the Arts | $211,728 | $148,921 |
| Rhode Island School of Design | $379,013 | $147,132 |
| Cleveland Institute of Music | $50,284 | $147,028 |
| Gettysburg College | $366,383 | $145,563 |
| Wheaton College (Mass.) | $241,464 | $143,243 |
| Teachers College Columbia University | $443,931 | $139,997 |
| Willamette University | $304,324 | $138,644 |
| Abilene Christian University | $675,503 | $138,281 |
| Hobart & William Smith Colleges | $230,797 | $138,119 |
| Randolph-Macon College | $200,256 | $135,951 |
| University of Dubuque | $207,856 | $134,884 |
| Yeshiva University | $681,075 | $134,175 |
| Austin College | $157,925 | $133,806 |
| Illinois College | $146,550 | $133,714 |
| The Citadel | $397,404 | $131,200 |
| Rensselaer Polytechnic Institute | $864,141 | $127,813 |
| Gustavus Adolphus College | $282,614 | $127,018 |
| American University of Beirut | $901,222 | $124,823 |
| Stonehill College | $295,107 | $122,757 |
| Northeast College of Health Sciences | $63,528 | $119,639 |
| Westminster College | $132,583 | $117,642 |
| Albion College | $176,127 | $116,873 |
| Washington & Jefferson College | $130,983 | $114,495 |
| Valparaiso University | $326,748 | $114,368 |
| The Ohio State University | $6,960,782 | $113,333 |
| Saint Louis University | $1,343,808 | $112,077 |
| Eastern Virginia Medical School Foundation | $143,441 | $110,254 |
| University of Iowa and Foundations | $3,054,429 | $109,864 |
| Hampton University | $348,849 | $109,152 |
| Rose-Hulman Institute of Technology | $241,200 | $109,140 |
| Luther College | $187,791 | $108,801 |
| Hardin Simmons University | $200,755 | $108,663 |
| George Washington University | $2,340,361 | $105,369 |
| Presbyterian College | $95,651 | $102,850 |
| Hood College of Frederick Maryland | $122,531 | $102,109 |
| University of the Pacific | $568,233 | $102,053 |
| Boston University | $2,980,503 | $101,593 |
| Saint Anselm College | $194,938 | $100,380 |
| Georgia Institute of Technology and Related Foundations | $2,927,742 | $98,654 |
| West Point Association of Graduates | $422,797 | $98,234 |
| Virginia Wesleyan University | $115,390 | $96,722 |
| Juniata College | $122,117 | $95,255 |
| Queens University of Charlotte | $157,527 | $94,441 |
| Virginia Commonwealth University and Affiliated Entities | $2,408,532 | $94,312 |
| Alfred University | $162,030 | $94,094 |
| University of Denver | $990,340 | $93,156 |
| The Kansas University Endowment Association | $2,279,058 | $93,015 |
| Franklin College | $87,038 | $92,495 |
| University of Minnesota & Foundation | $5,365,669 | $92,433 |
| Baylor University | $1,970,511 | $92,365 |
| Worcester Polytechnic Institute | $589,684 | $91,837 |
| Hope College | $277,244 | $91,651 |
| New York University | $5,148,741 | $89,903 |
| Stetson University | $352,640 | $89,822 |
| John Carroll University | $271,248 | $89,226 |
| Susquehanna University | $190,701 | $89,113 |
| Lewis & Clark College | $306,390 | $88,886 |
| Concordia College | $165,347 | $88,705 |
| Keck Graduate Institute | $50,388 | $87,937 |
| John Brown University | $154,690 | $87,842 |
| Emmanuel College | $160,957 | $87,811 |
| Ursinus College | $132,597 | $86,158 |
| University of Toronto | $2,370,993 | $85,747 |
| Michigan State University | $3,879,500 | $85,614 |
| Syracuse University | $1,793,680 | $85,531 |
| Baker College | $300,243 | $85,224 |
| The Catholic University of America | $344,458 | $84,738 |
| Central College | $97,698 | $84,587 |
| Creighton University | $690,797 | $84,408 |
| St. Norbert College | $163,645 | $84,136 |
| SUNY Health Science Center at Syracuse | $123,807 | $83,880 |
| Augustana College | $196,811 | $83,678 |
| Morehouse College | $186,523 | $83,381 |
| Quinnipiac University | $674,057 | $81,724 |
| Le Moyne College | $232,779 | $81,706 |
| University of St. Thomas | $645,623 | $80,996 |
| Marquette University | $865,300 | $80,952 |
| Rochester Institute of Technology | $1,248,972 | $80,346 |
| St. Mary’s University | $233,509 | $80,106 |
| University of Delaware | $1,781,177 | $79,734 |
| Hofstra University | $737,422 | $79,584 |
| Converse University | $81,004 | $79,338 |
| University of Portland | $297,255 | $79,226 |
| University of Wisconsin Foundation | $3,496,791 | $79,117 |
| Cornell College | $82,015 | $78,784 |
| Doane University | $124,287 | $78,168 |
| Sarah Lawrence College | $134,236 | $77,863 |
| Westmont College | $94,513 | $77,725 |
| UCLA Investment Company | $3,560,694 | $77,406 |
| Houghton University | $65,201 | $76,888 |
| Meredith College | $124,353 | $76,761 |
| Howard University | $862,784 | $75,736 |
| Fairfield University | $398,696 | $75,070 |
| American University | $928,474 | $74,606 |
| Texas Lutheran University | $95,683 | $74,346 |
| Lebanese American University | $587,894 | $73,377 |
| University of Miami | $1,344,284 | $72,719 |
| The University of British Columbia | $1,510,196 | $72,282 |
| University of San Diego | $652,515 | $72,173 |
| University of Wyoming Foundation | $706,786 | $71,996 |
| Roanoke College | $128,602 | $71,885 |
| Lesley University | $186,631 | $71,716 |
| University of Mount Union | $150,993 | $71,358 |
| St. Ambrose University | $192,758 | $71,313 |
| Duquesne University of the Holy Spirit | $564,732 | $70,105 |
| Saint Joseph’s University | $357,720 | $70,059 |
| Warren Wilson College | $55,937 | $69,921 |
| Bradley University | $341,317 | $69,557 |
| Ithaca College | $356,783 | $69,064 |
| Colby-Sawyer College | $55,607 | $68,906 |
| University of Dayton | $771,109 | $68,567 |
| Simpson College | $78,052 | $68,527 |
| Wilson College | $59,401 | $68,199 |
| Whitworth University | $183,144 | $68,159 |
| Bethany Lutheran College | $48,033 | $67,652 |
| Bridgewater College | $97,906 | $67,289 |
| College of Saint Benedict | $102,990 | $66,402 |
| Canisius College | $155,681 | $65,966 |
| McPherson College | $53,372 | $65,167 |
| Loyola University Maryland | $291,014 | $65,104 |
| Fordham University | $972,446 | $64,830 |
| University of California Berkeley Foundation | $2,648,100 | $64,345 |
| University of Lynchburg | $141,097 | $63,730 |
| N.C. State University and Related Foundations | $2,018,242 | $63,715 |
| Ferrum College | $57,950 | $63,264 |
| Buena Vista University | $112,245 | $63,094 |
| Drury University | $96,988 | $63,061 |
| University of Oregon Foundation | $1,405,911 | $63,051 |
| Saint Michael’s College | $94,357 | $63,031 |
| University of Scranton | $258,522 | $62,642 |
| Chapman University | $580,821 | $62,582 |
| Purdue University | $3,675,960 | $62,268 |
| Bryant University | $207,390 | $62,130 |
| Lake Forest College | $103,372 | $62,048 |
| Loyola Marymount University | $611,334 | $62,014 |
| Covenant College | $53,641 | $62,013 |
| Mount Saint Mary’s University Los Angeles | $159,847 | $61,503 |
| University of Redlands | $232,004 | $61,474 |
| Elizabethtown College | $104,882 | $61,120 |
| University of Kentucky | $1,684,532 | $60,934 |
| Oklahoma State University Foundation | $1,543,994 | $60,885 |
| Linfield University | $104,846 | $60,222 |
| Iona University | $192,517 | $60,049 |
| Drake University | $245,420 | $60,005 |
| Baldwin Wallace University | $181,875 | $59,262 |
| The Pennsylvania State University | $4,607,961 | $58,833 |
| Peirce College | $24,552 | $58,595 |
| Art Center College of Design | $127,039 | $58,516 |
| Clarkson University | $216,603 | $58,227 |
| University of Arkansas at Fayetteville and Foundation | $1,465,736 | $58,146 |
| Loyola University New Orleans | $235,726 | $57,989 |
| Berklee College of Music | $389,157 | $57,773 |
| Northwood University | $100,230 | $57,736 |
| Gonzaga University | $399,604 | $57,580 |
| Harding University | $218,767 | $56,109 |
| Culinary Institute of America | $151,101 | $55,963 |
| St. John’s University New York | $868,932 | $55,837 |
| Loyola University of Chicago | $892,934 | $55,136 |
| University of Florida Foundation Inc. | $2,275,517 | $54,408 |
| Heidelberg University | $59,889 | $54,125 |
| California State University Foundation | $31,301 | $53,506 |
| The Foundation for the University of the Virgin Islands Inc. | $50,009 | $52,641 |
| McDaniel College | $133,749 | $52,471 |
| Maryland Institute College of Art | $102,221 | $51,471 |
| Wagner College | $89,494 | $51,286 |
| Regents of the University of California | $15,417,663 | $51,246 |
| Muskingum University | $90,078 | $51,093 |
| Carthage College | $135,839 | $50,952 |
| Iowa State University of Science and Technology | $1,524,695 | $50,876 |
| Carroll College | $55,064 | $50,564 |
| University of San Francisco | $478,444 | $49,724 |
| Butler University | $253,120 | $49,554 |
| Colorado School of Mines Foundation | $353,375 | $49,271 |
| Seattle Pacific University | $161,153 | $49,148 |
| Median (all institutions) | $208,735 | $49,106 |
| Union College (Ne.) | $26,517 | $49,106 |
| Drexel University | $948,413 | $49,069 |
| New York Medical College | $68,155 | $48,821 |
| College of Central Florida Foundation | $82,326 | $48,330 |
| University of Nebraska Board of Regents | $2,058,624 | $47,859 |
| Capital University | $125,444 | $47,830 |
| Morningside University | $56,869 | $47,233 |
| Midwestern University | $342,996 | $47,095 |
| University of Evansville | $98,605 | $46,955 |
| University of Louisville Foundation | $883,606 | $46,712 |
| Kansas State University Foundation | $767,600 | $45,595 |
| Messiah University | $127,166 | $45,126 |
| Friends University | $58,725 | $45,104 |
| North Central College | $118,835 | $44,558 |
| Indiana University Foundation | $3,515,282 | $44,420 |
| Niagara University | $111,005 | $44,296 |
| Elon University | $308,240 | $44,289 |
| Salus University | $52,812 | $43,937 |
| Columbia College | $179,655 | $43,818 |
| Washington State University | $1,200,813 | $43,442 |
| Mercy College | $295,699 | $43,408 |
| Freed-Hardeman University | $73,779 | $43,171 |
| Lebanon Valley College | $81,053 | $43,153 |
| Elmhurst University | $152,577 | $42,811 |
| Texas Tech University System | $1,712,162 | $42,810 |
| University of South Dakota Foundation | $294,571 | $42,470 |
| Wisconsin Lutheran College | $43,865 | $42,382 |
| DePaul University | $825,464 | $42,347 |
| The New School | $421,189 | $42,089 |
| The University of Georgia and Related Foundations | $1,685,035 | $42,002 |
| University of Idaho Foundation | $372,858 | $41,963 |
| Curry College | $85,129 | $40,809 |
| Indiana Institute of Technology | $164,687 | $40,384 |
| Northeastern University | $1,333,608 | $40,173 |
| University of North Dakota Alumni Association & Foundation | $352,099 | $40,034 |
| University of Mississippi Foundation | $780,801 | $40,010 |
| Thomas College | $26,770 | $39,999 |
| Suffolk University | $253,974 | $39,971 |
| Mount St. Joseph University | $60,822 | $39,857 |
| Clemson University Foundation | $994,711 | $39,684 |
| University of Missouri System | $2,144,710 | $39,682 |
| Washburn University Foundation | $167,080 | $39,668 |
| University of Alberta | $1,227,407 | $39,359 |
| Culver-Stockton College | $34,532 | $39,330 |
| University of Toledo Foundation | $551,318 | $39,273 |
| University of Dallas | $85,555 | $39,031 |
| Northwest College Foundation | $44,558 | $38,915 |
| DeSales University | $102,866 | $38,891 |
| University System of New Hampshire & University of New Hampshire Foundation | $856,545 | $38,883 |
| University of Hartford | $190,171 | $38,279 |
| Youngstown State University Foundation | $328,447 | $37,870 |
| Cedar Crest College | $41,508 | $37,838 |
| University of Illinois & Foundation | $3,114,979 | $37,476 |
| Simmons University | $212,282 | $37,341 |
| California Lutheran University | $133,136 | $37,310 |
| Franklin University | $98,539 | $37,171 |
| Stevens Institute of Technology | $269,274 | $36,821 |
| Clarke University | $31,362 | $36,758 |
| Seton Hall University | $312,324 | $36,653 |
| Wentworth Institute of Technology | $143,897 | $36,569 |
| Belmont University | $302,191 | $36,156 |
| Xavier University | $225,434 | $36,139 |
| McGill University | $1,364,260 | $36,008 |
| Flagler College | $93,061 | $35,972 |
| Rocky Mountain College | $37,072 | $35,543 |
| St. Edward’s University | $117,432 | $35,532 |
| McMaster University | $989,231 | $35,374 |
| Auburn University and Foundation | $995,962 | $35,257 |
| The University of Western Ontario | $753,352 | $34,500 |
| North Dakota State University Foundation | $419,224 | $33,643 |
| Long Island University | $361,990 | $33,351 |
| Misericordia University | $61,724 | $33,275 |
| West Virginia University Foundation | $875,112 | $33,222 |
| St. Bonaventure University | $79,475 | $33,004 |
| Rivier University | $54,803 | $32,447 |
| Lasell University | $46,129 | $32,303 |
| UNC School of the Arts | $43,710 | $32,128 |
| Biola University | $152,138 | $32,003 |
| Miami University Foundation | $687,916 | $31,810 |
| The Board of Trustees of the University of Alabama | $1,877,398 | $31,699 |
| Arcadia University | $78,038 | $31,671 |
| Endicott College | $119,158 | $31,664 |
| Western Michigan University Foundation | $504,268 | $31,623 |
| University at Buffalo Foundation | $907,868 | $31,429 |
| Palm Beach Atlantic University | $94,201 | $31,358 |
| Nazareth College of Rochester | $77,919 | $30,884 |
| Saint Francis University | $60,084 | $30,844 |
| Rutgers the State University of New Jersey | $1,862,823 | $30,408 |
| University of New Mexico Foundation | $538,454 | $30,404 |
| The University of Arizona and the University of Arizona Foundation | $1,203,998 | $30,216 |
| Georgian Court University | $48,190 | $30,081 |
| Florida Southern College | $91,156 | $29,829 |
| Baker University | $49,601 | $29,808 |
| Vaughn College of Aeronautics and Technology | $32,867 | $29,583 |
| College of St. Scholastica | $102,960 | $29,316 |
| UC San Diego Foundation | $1,182,890 | $29,261 |
| Milwaukee School of Engineering | $77,285 | $29,044 |
| Sacred Heart University | $238,689 | $29,006 |
| Salve Regina University | $77,430 | $28,935 |
| University of Maine Foundation | $286,775 | $28,888 |
| Oregon State University Foundation | $769,371 | $28,876 |
| American University in Bulgaria | $29,085 | $28,514 |
| Wichita State University Foundation | $320,098 | $28,355 |
| The University of Tennessee System | $1,501,496 | $28,274 |
| Bradford Educational Foundation—University of Pittsburgh at Bradford | $31,517 | $28,216 |
| Ohio University and the Ohio University Foundation | $648,638 | $28,171 |
| Warner Pacific University | $18,162 | $27,856 |
| Carleton University | $253,369 | $27,815 |
| University of South Alabama Foundation | $388,598 | $27,773 |
| Mississippi State University & Foundation | $639,485 | $27,700 |
| Queen’s University | $1,046,511 | $27,697 |
| Spartanburg Methodist College | $24,824 | $26,635 |
| Brenau University | $50,669 | $26,294 |
| University of Nevada Reno Foundation | $458,077 | $26,271 |
| University of Indianapolis | $123,277 | $26,063 |
| Monmouth University | $126,790 | $25,891 |
| Longwood University Foundation | $95,654 | $25,748 |
| Golden Gate University | $42,128 | $25,563 |
| Springfield College | $89,648 | $25,253 |
| University of the Incarnate Word | $170,836 | $25,116 |
| Mount Mercy University | $33,727 | $24,965 |
| Augsburg University | $70,632 | $24,483 |
| Emporia State University Foundation | $97,389 | $24,208 |
| Temple University | $778,415 | $23,924 |
| The University of Montana Foundation | $241,626 | $23,909 |
| Utah State University | $512,439 | $23,797 |
| Montana Tech Foundation | $55,101 | $23,557 |
| Widener University | $113,678 | $23,555 |
| University of North Carolina at Asheville | $70,020 | $23,262 |
| Bellarmine University | $63,783 | $22,829 |
| Roberts Wesleyan College | $38,587 | $22,806 |
| Wayne State University Foundation | $470,581 | $22,784 |
| Florida State University Foundation | $898,120 | $22,686 |
| Northeast Ohio Medical University Foundation | $22,887 | $22,638 |
| Michigan Technological University | $147,631 | $22,625 |
| Louisiana State University System | $1,001,451 | $22,120 |
| South Dakota State University Foundation | $217,559 | $22,105 |
| Lipscomb University | $97,547 | $22,060 |
| University of Victoria Foundation | $352,306 | $22,021 |
| Rowan University | $361,319 | $21,943 |
| Shenandoah University | $71,875 | $21,880 |
| High Point University | $125,078 | $21,636 |
| Nichols College | $27,335 | $21,506 |
| Dominican University | $47,176 | $21,108 |
| Denver Seminary | $14,400 | $20,900 |
| Grand View University | $32,819 | $20,719 |
| The University of Connecticut Foundation | $593,746 | $20,608 |
| University of California Santa Barbara Foundation | $539,242 | $20,598 |
| Olivet Nazarene University Foundation | $51,745 | $20,372 |
| Colorado State University Foundation | $529,782 | $20,248 |
| Webster University | $143,986 | $20,138 |
| Roger Williams University | $93,153 | $19,913 |
| Averett University | $21,802 | $19,659 |
| University of North Carolina at Greensboro Investment Fund | $368,640 | $19,363 |
| Dalhousie University | $593,798 | $19,237 |
| Mary Baldwin University | $32,744 | $19,093 |
| Pace University | $210,437 | $18,878 |
| University of Detroit Mercy | $83,263 | $18,838 |
| Indiana Wesleyan University | $229,902 | $18,798 |
| Regis University | $86,329 | $18,784 |
| Southern Adventist University | $55,057 | $18,556 |
| Rider University | $66,760 | $18,361 |
| University of South Alabama | $221,652 | $18,075 |
| Old Dominion University Educational Foundation£ | $329,751 | $18,070 |
| Chaminade University of Honolulu | $34,667 | $18,009 |
| University of Houston System | $1,004,455 | $17,950 |
| Western New England University | $59,528 | $17,946 |
| Gannon University | $70,969 | $17,845 |
| Concordia University of Wisconsin | $109,299 | $17,723 |
| SUNY Stony Brook Foundation | $475,866 | $17,672 |
| SUNY Potsdam College Foundation | $43,027 | $17,434 |
| Rockhurst University | $45,724 | $17,241 |
| Virginia State University | $69,564 | $17,214 |
| UC Davis Foundation | $634,164 | $17,159 |
| University of South Carolina and Affiliated Foundations | $877,225 | $16,918 |
| University of Nevada Las Vegas Foundation | $367,626 | $16,686 |
| New Mexico State University Foundation | $280,494 | $16,642 |
| Fort Hays State University Foundation | $137,189 | $16,639 |
| University of Chattanooga Foundation | $169,573 | $16,570 |
| Marymount University | $49,286 | $16,358 |
| University of Wisconsin–Eau Claire Foundation | $147,408 | $16,245 |
| Pittsburg State University Foundation | $83,379 | $16,218 |
| The University of Memphis | $256,530 | $16,129 |
| Winthrop University Foundation | $69,394 | $16,086 |
| Eastern Illinois University Foundation | $103,766 | $15,634 |
| Western Kentucky University and Foundations | $209,503 | $15,337 |
| Southern Illinois University Foundation | $172,338 | $15,297 |
| University of Mary (N.D.) | $51,354 | $15,104 |
| Robert Morris University | $47,020 | $15,100 |
| University of Louisiana at Lafayette Foundation | $201,500 | $15,070 |
| New Jersey Institute of Technology | $148,438 | $15,007 |
| University of South Florida Foundation | $604,517 | $14,957 |
| Troy University Foundation | $163,701 | $14,951 |
| Central Michigan University | $230,600 | $14,911 |
| Northwestern Michigan College Foundation | $27,360 | $14,845 |
| University of Northern Colorado Foundation | $100,559 | $14,682 |
| Saginaw Valley State University Foundation | $96,122 | $14,657 |
| Lakeland University Foundation | $18,308 | $14,461 |
| University of Mary Washington Foundation | $60,430 | $14,457 |
| Norfolk State University Foundation | $71,161 | $14,187 |
| Clarion University Foundation Inc. | $43,398 | $14,136 |
| Florida Agricultural and Mechanical University | $111,477 | $13,802 |
| Murray State University | $100,214 | $13,754 |
| Colorado Mesa University Foundation | $42,110 | $13,721 |
| The Ferris Foundation | $113,015 | $13,611 |
| Weber State University | $183,071 | $13,554 |
| North Carolina A&T State University and Foundation | $164,541 | $13,283 |
| Embry-Riddle Aeronautical University | $229,076 | $12,896 |
| Northampton County Area Community College Foundation | $70,533 | $12,801 |
| Columbus State University Foundation | $82,827 | $12,559 |
| LeTourneau University | $25,356 | $12,503 |
| College of Charleston Foundation | $124,191 | $12,403 |
| Molloy University | $44,453 | $12,345 |
| University of St. Francis | $26,620 | $12,256 |
| SUNY Fredonia College Foundation | $42,206 | $12,233 |
| Georgia Southwestern Foundation | $30,645 | $12,103 |
| Fairleigh Dickinson University | $92,360 | $11,846 |
| The Campanile Foundation (supporting San Diego State University) | $380,896 | $11,806 |
| Florida Atlantic University Foundation | $258,117 | $11,602 |
| California Polytechnic State University Foundation | $243,030 | $11,524 |
| SUNY Oneonta Foundation | $66,608 | $11,255 |
| Cedarville University | $47,285 | $11,240 |
| East Carolina University | $259,074 | $11,158 |
| University of North Carolina at Charlotte | $306,481 | $11,105 |
| California Maritime Academy Foundation | $10,397 | $11,084 |
| Wright State University Foundation | $105,661 | $11,055 |
| Indiana State University Foundation | $79,582 | $10,885 |
| Bowling Green State University Foundation | $185,465 | $10,862 |
| University of Southern Mississippi Foundation | $123,990 | $10,530 |
| California Baptist University | $119,107 | $10,500 |
| Arizona State University & Foundation | $1,386,915 | $10,218 |
| Tennessee Technological University Foundation | $85,352 | $10,171 |
| Central Oregon Community College Foundation | $24,297 | $10,166 |
| University of North Carolina at Wilmington | $149,846 | $10,159 |
| University of North Florida Foundation | $132,178 | $10,049 |
| Shippensburg University Foundation | $47,833 | $9,965 |
| Cornerstone University | $16,403 | $9,834 |
| Maryville University of St. Louis | $61,216 | $9,712 |
| Worcester State Foundation | $39,110 | $9,598 |
| Northern Kentucky University Foundation | $119,274 | $9,480 |
| University of Hawaii Foundation | $450,106 | $9,305 |
| Salisbury University Foundation | $64,381 | $9,282 |
| St. Thomas University | $34,405 | $9,266 |
| Sonoma State University Foundation | $60,783 | $9,168 |
| SUNY Cortland | $54,532 | $8,899 |
| Dakota State University Foundation | $17,441 | $8,818 |
| Grand Valley State University | $168,607 | $8,784 |
| National Louis University | $45,820 | $8,746 |
| University of New Brunswick | $278,973 | $8,708 |
| University of Guam | $24,385 | $8,706 |
| College of New Jersey Foundation | $62,831 | $8,530 |
| Cuyahoga Community College Foundation | $87,437 | $8,469 |
| Sam Houston State University | $146,319 | $8,420 |
| Utica University | $31,977 | $8,406 |
| Radford University Foundation | $62,591 | $8,349 |
| Oakland University | $118,117 | $8,286 |
| Boise State University Foundation | $132,069 | $8,198 |
| Husson University | $23,488 | $8,187 |
| The Foundation of the SUNY at Binghamton Inc. | $136,993 | $8,146 |
| The Bloomsburg University Foundation | $60,000 | $8,000 |
| Barry University Inc. | $49,943 | $7,973 |
| Western Washington University Foundation | $109,833 | $7,912 |
| California State University Fresno Foundation | $208,735 | $7,895 |
| Middle Tennessee State University Foundation | $126,863 | $7,564 |
| Tri-County Technical College Foundation | $31,124 | $7,442 |
| Cal Poly Humboldt Foundation | $38,591 | $7,302 |
| Millersville University Foundation | $42,094 | $7,246 |
| Notre Dame of Maryland University | $45,755 | $6,999 |
| Eastern Kentucky University Foundation | $78,781 | $6,972 |
| Texas Woman’s University Foundation | $100,344 | $6,961 |
| Florida International University Foundation Inc. | $284,292 | $6,865 |
| University of West Florida Foundation | $86,875 | $6,549 |
| Blue Ridge Community College Educational Foundation Inc. | $11,254 | $6,372 |
| Coastal Educational Foundation (supporting Coastal Carolina University) | $62,161 | $6,282 |
| Delta College | $28,275 | $6,088 |
| James Madison University Foundation | $123,393 | $5,986 |
| San Francisco State University Foundation | $156,233 | $5,869 |
| San Jose State University and Tower Foundation | $167,381 | $5,851 |
| California State University Channel Islands Foundation | $32,529 | $5,833 |
| Fayetteville State University | $31,971 | $5,737 |
| SUNY Plattsburgh College Foundation | $25,521 | $5,721 |
| California State University Northridge Foundation | $182,829 | $5,675 |
| The University Foundation California State University Chico | $79,303 | $5,617 |
| Kalamazoo Valley Community College | $19,579 | $5,583 |
| Kutztown University Foundation | $37,211 | $5,480 |
| University of Wisconsin System | $703,894 | $5,133 |
| Georgia State University Foundation | $210,450 | $4,752 |
| California State University Monterey Bay | $32,209 | $4,732 |
| Arkansas State University System Foundation | $100,057 | $4,719 |
| Southern Connecticut State University Foundation | $33,644 | $4,700 |
| Ramapo College of New Jersey | $22,652 | $4,654 |
| Minnesota State University Mankato Foundation | $60,415 | $4,623 |
| University of Central Florida Foundation | $215,100 | $4,604 |
| Kent State University Foundation | $158,884 | $4,540 |
| Montclair State University Foundation | $93,263 | $4,239 |
| Polytechnic University of Puerto Rico | $16,286 | $3,961 |
| California State University Bakersfield Foundation | $35,097 | $3,878 |
| Georgia Southern University Foundation | $87,933 | $3,848 |
| Central Piedmont Community College Foundation | $42,828 | $3,716 |
| Trinity Western University | $24,801 | $3,318 |
| California State University Long Beach 49er Foundation | $108,178 | $3,245 |
| Southern Illinois University Edwardsville Foundation | $33,705 | $3,177 |
| CSUSB Philanthropic Foundation | $46,896 | $2,921 |
| Sinclair Community College Foundation | $33,523 | $2,834 |
| University of Northern British Columbia | $74,356 | $2,599 |
| University Foundation at Sacramento State | $68,053 | $2,513 |
| Pellissippi State Community College Foundation | $13,272 | $2,410 |
| California State University Los Angeles Foundation | $53,844 | $2,345 |
| Mount Allison University | $168,138 | $2,332 |
| Kennesaw State University | $89,246 | $2,331 |
| Lakeland Community College | $5,760 | $2,306 |
| California State University San Marcos Foundation | $31,188 | $2,241 |
| Midlands Technical College Foundation | $11,733 | $2,089 |
| California State University Stanislaus Foundation | $17,521 | $2,067 |
| Oakton Community College Educational Foundation | $6,209 | $1,361 |
| California State University Dominguez Hills Philanthropic Foundation | $20,043 | $1,358 |
| Indiana University of Pennsylvania | $8,191 | $1,124 |
| Western Governors University | $1,067 | $8 |
Want articles like this sent straight to your inbox?
Subscribe to a Newsletter
