The University of Chicago announced that its endowment reached $10.9 billion at the end of fiscal year 2025, as of June 30. The university reported a 10.2% overall return on investments for the year.
The annual endowment figures reflect the combined effects of fundraising, investment performance, and payout from the endowment, all of which contribute to the university’s operating budget. Over longer periods, the endowment has achieved annualized returns of 8.1% over 15 years and 7.8% over 20 years.
This year’s investment return was affected by a one-time strategic sale of legacy private market assets, reducing performance from a pre-trade return of 11.1% to the final figure of 10.2%. According to the university, this transaction involved divesting long-held assets that no longer aligned with its long-term strategy.
The university emphasized that its endowment is intended as a permanent resource to support activities over the long term and is made possible through philanthropy spanning more than a century. The funds provide steady income for a wide range of programs and initiatives at both the university and UChicago Medical Center.
Most of the endowment is legally restricted for specific purposes designated by donors, whose intentions are honored according to ethical standards and legal requirements. In recent years, strategic investments from the endowment have included increased financial aid for undergraduates and expanded support for faculty and graduate students.
Addressing recent media reports about its finances, the university clarified certain points regarding its investments:
"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."
Additional information about UChicago’s budget and finances can be found on the Office of the Provost website, including an FAQ addressing questions related to education and research at UChicago.