University of Chicago endowment ended FY21 at $11.6 billion

The University of Chicago consolidated endowment ended FY21 at $11.6 billion as of June 30, 2021, following a 37.6 percent return on investments. The rate of return is the highest for the University since the 1999-2000 period.

Since the market low point of 2009, the endowment has added over $9 billion in net market value, with an 11 percent average annual return during that time.

The University’s investment strategy has evolved over the last decade to manage risk and opportunities for long-term growth. The investments provide a reliable foundation of support for the University community, including a broad range of programs and initiatives at the University and the Medical Center.

Annual endowment figures reflect the net impact of fundraising, investment performance and endowment payout, which contributes to the University’s operating budget. The vast majority of the University’s endowment is legally restricted and must be used for designated purposes. The endowment is a permanent resource that is intended to support the University’s activities over the long term. The University has been able to utilize a higher payout rate from the endowment than many peer institutions have over the last decade, in order to support critical strategic investments, including expanded support for faculty and graduate students, and greatly increased financial aid for undergraduate students.