The University of Chicago’s endowment ended FY25 at $10.9 billion as of June 30 with a 10.2% overall return on investments, reflecting progress in strategically positioning the University to benefit from future growth opportunities.
Annual endowment figures reflect the net impact of fundraising, investment performance and endowment payout, which contribute to the University’s operating budget. Over 15- and 20-year time horizons, the endowment has generated annualized returns of 8.1% and 7.8%, respectively.
The endowment is a permanent resource that is intended to support the University’s activities over the long term, thanks to generous philanthropy over more than a century. By supplying a steady source of income to the operating budget, the endowed funds support a broad range of programs and initiatives at the University and the UChicago Medical Center.
The vast majority of the University’s endowment is legally restricted and must be used for designated purposes. The intentions of donors are always honored, as dictated by ethics and the law. Over the last decade, the University has supported several critical strategic investments from the endowment, including greatly increased financial aid for undergraduate students and expanded support for faculty and graduate students.
Some recent coverage of UChicago’s finances in the news media has included inaccurate statements about the University’s investments. For example:
Start-up investments: The University has invested less than 0.3% of the endowment in start-ups led by UChicago faculty, students, staff and alumni, to support entrepreneurship and the impact of technologies and ideas developed at the University. These investments are ongoing, with positive returns, and are not large enough to drive broader endowment performance.
Cryptocurrency: Contrary to a claim in one news report, the endowment’s modest investments in digital assets have contributed positively to performance to date. The endowment holds these assets alongside a broad selection of investment vehicles to provide a stable and optimal long-term return, and these investments have yielded strong returns, well in excess of those of the overall portfolio, to support UChicago students and faculty.
You may visit the Office of the Provost website for additional information about UChicago’s budget and finances, as well as an FAQ with further clarifications of facts concerning education and research at UChicago.