A recent Cambridge Associates survey of 104 endowments and foundations reveals that most institutions are adhering to their endowment spending policies, with 80% following policy in 2025 and 81% expected to do so in 2026. However, a notable minority—15% in 2025 and 14% anticipating in 2026—are spending beyond policy, primarily due to federal funding cuts […]
October 2025
Margaret Chen, Global Head of the Endowment and Foundation Practice, hosted a webinar in August to discuss endowment/foundation excise tax legislation and key takeaways from the legislative process. Margaret was joined by Tracy Filosa and Chris Houston, who shared insights on the legislation, answered questions, and examined what next steps investors can take, even if […]
August 2025
New tax provisions in legislation recently passed by the US House of Representatives (the House Bill) would impose millions of dollars of new costs on many colleges, universities, and private foundations, if enacted. We recommend four steps nonprofit organizations can consider right now, without being too hasty, to ensure they are well-prepared and responsive should […]
June 2025
The initial months of 2025 have been extraordinary for higher education. Colleges and universities are facing questions about their missions, policies, curricula, and why they have endowments. While endowment wealth is in the headlines and crosshairs, the purpose of endowments can be lost, under the radar one might say. The 2024 Endowment Radar Study highlights […]
March 2025
“Divest now!” Passionate voices are demanding distance between the endowment and investments that can be connected to war and human suffering. Divestment campaigns may seek to influence change, take an ethical investing stance, and/or ensure that the capital of the institution they care about does not fund or profit from a cause or actions they […]
May 2024
Higher costs and higher rates of endowment spending are the major story lines of the 2023 Endowment Radar Study. In 2023, the endowment provided a stable source of funding for the growing costs of private college and university business model (Figure 1). The four components of Endowment Radar measure the endowment’s role in supporting the […]
March 2024
In today’s dynamic funding and operating environment, a lot is at stake for public colleges and universities and their endowments. The public university endowment is more than a static funding source; with strong stewardship, a growing endowment can transform a university’s financial equation. The most forward-thinking public universities use their endowments for far more than […]
January 2024
Inflation is having a moment. After laying low and playing a minor role in institutional financial decisions for decades, inflation has soared, dominating headlines and raising expectations for future costs. In addition to its impact on financial markets and investment portfolios, inflation increases the costs of delivering the nonprofit mission and makes it more challenging […]
May 2023