Key facts

Reported value

USD 353.2 million

As of

FY2025 survey reporting period

Portfolio

Survey respondent endowment

Location

Owosso, MI

Data through FY2025

Balance reference

Endowment size and reporting scope

The USD 353.188 million FY2025 figure follows the survey's respondent, Baker College. The legal filer discussed below can have a different accounting perimeter. Endowed accounts may include both donor-restricted resources and amounts designated for long-term use by a governing board. Investing those accounts together does not remove their spending restrictions. The prior-year USD 350.630 million figure supplies a second closing observation, after the effects of annual support and new gifts. Survey scope and definitions

The FY2025 survey value for Baker College is USD 353.188 million, compared with USD 350.630 million for FY2024. The USD 2.558 million movement is 0.73% of the earlier balance. It includes changes in investments as well as additions and distributions. NACUBO explicitly distinguishes this change in market value from an investment rate of return. FY2025 respondent values and definitions

Spending policy and payout

The FY2025 NCSE $250M to $500M group reports an average effective spending rate of 5.2%. That is a survey-group statistic and is not assigned as Baker College's policy. An institution's own spending rule can use several prior valuation dates, a prior-year dollar draw or additional adjustments. Its approved appropriation and the cash ultimately spent by a department can differ in timing. NCSE spending-rate table

For Baker College, the survey value records a closing balance in FY2025. It does not identify the valuation dates used to calculate a distribution. A policy based on earlier values can produce a different dollar draw from a percentage of the current balance. The peer statistic is retained as a group comparison, with no institution-specific payout inferred. Spending measures

Governance and investment office

The FY2025 respondent is Baker College, located in Owosso, MI. NACUBO classifies it as a private college/university endowment or other non-profit institution. The survey's respondent table identifies the reporting unit but supplies no individual investment-office appointment. Respondent identity and type

Federal excise tax on investment income

Public Law 119-21 changed Section 4968 for tax years beginning after December 31, 2025. Applicable private institutions must have at least 3,000 tuition-paying students in the preceding tax year, with more than half located in the United States, and student-adjusted endowment of at least $500,000. The rates are 1.4% from $500,000 through $750,000 per student, 4% above $750,000 through $2 million, and 8% above $2 million. Enacted law, Section 70415

An institution's tax tier requires its statutory asset base, eligible student count and related-organization treatment. The survey's closing market value does not supply that calculation. No institution-specific rate is assigned without an institutional disclosure. A campus's enrollment in a public fact sheet can differ from the daily-average, full-time-equivalent count required by the law.

The tax applies to net investment income; the statutory asset and student definitions determine applicability and the rate.

FY2025 size-band comparison

The FY2025 survey value of USD 353.188 million places this respondent in the $250M to $500M band. The published band contains 102 respondents and USD 37.1 billion of aggregate assets. Its average five-year annualized net return is 10.0%, and its ten-year average is 7.6%. The size band uses the FY2025 NACUBO balance. NCSE size groups NCSE average net returns

Source: NACUBO · Data through FY2025

The peer mix describes average reported exposures within one size band. It does not reveal individual securities or the availability of cash at a particular institution. Respondents can also use different policy benchmarks. NCSE returns are net of external management fees and expenses for periods ending June 30, 2025; those periods and fee labels govern any numerical return comparison on this page. NCSE allocation definitions

Public records and reporting dates

NACUBO's respondent is Baker College. Annual financial statements and any nonprofit return can cover a different legal entity or a wider group of resources. A university, a supporting foundation and an investment pool can each report its own assets. Total organizational assets also include resources outside the endowment, and the tax-return accounting period can differ from the survey's reporting year. Those distinctions govern how public records are compared. Respondent identity

Related reading

• Endowment directory
• Endowments by state
• Endowments by size
• College endowments
• Michigan State University Research Foundation
• Wichita State University Foundation
• Washington College