Average Annual Effective Spending Rates for U.S. College Endowments, FY 2017

Private nonprofit institutions had a higher rate of spending in the 2017 fiscal year than did public institutions. Those with larger endowments spent at a higher rate.

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Note: The effective spending rate is calculated by dividing the distribution for spending into the value of the endowment at the beginning of the fiscal year. Colleges generally devoted the distribution to spending on student financial aid, faculty research, building maintenance, and other campus operations, based on institutional priorities. Data for the 2017 fiscal year, which ended June 30, 2017, came from 809 colleges and universities and their affiliated foundations in the United States, representing nearly $567 billion in endowment assets. More data can be found here. Questions or comments on the Almanac should be sent to the Almanac editor.

Sources: National Association of College and University Business Officers and Commonfund Institute