Key facts

Reported value

USD 78.2 million

As of

June 30, 2026

Portfolio

Foundation donor-restricted endowment

Location

San Bernardino, CA

Management model

Morgan Stanley Wealth Management outsourced investment office

Data through FY2026

Balance reference

Endowment size and reporting scope

NACUBO places California State University San Bernardino in CA and reports USD 62.983 million in FY2025. The respondent's name defines the unit being compared across the survey columns. A campus, supporting foundation and investment pool can each publish financial information, and their totals can differ. Permanent gifts and board-designated resources also have different spending permissions. The balance therefore describes the reported assets at a date, with no assumption that all of them are available for general operations. Survey scope and definitions

The official USD 78.239 million figure and the FY2025 survey's USD 62.983 million describe their respective dates and reporting categories. The official balance retains its stated label, philanthropic foundation endowment net assets. Official financial scope

Source: NACUBO · Data through FY2026

The FY2025 survey value for California State University San Bernardino is USD 62.983 million, compared with USD 57.615 million for FY2024. The reported balance rose by USD 5.368 million, or 9.32%, from FY2024. 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

The available history begins in FY2016 at USD 23.298 million and ends in FY2025 at USD 62.983 million. The change across those observations is USD 39.685 million. The smallest reported balance in the displayed series is USD 23.298 million in FY2016; the largest is USD 62.983 million in FY2025. The displayed observations are year-end asset balances. NACUBO historical workbook

Spending policy and payout

The FY2026 endowment roll-forward reports USD 2.165120 million appropriated for expenditure, compared with USD 2.230079 million in FY2025. The foundation also reports a separate 1% annual endowment management fee, which totalled USD 638,808 in FY2026. That administrative fee is not added to the appropriation chart. Spending disclosure

Source: csusb.edu · Data through FY2026

Distribution report

For California State University San Bernardino, a closing survey balance and an annual appropriation answer different questions. The survey records how much was held at the reporting date. A spending formula determines support using the valuations specified in that policy. A beneficiary can also spend an approved distribution in a later period. This timing can separate the institution's appropriation from the cash recorded as an expense. Spending measures

Governance and investment office

The FY2026 audit states that the Foundation participates in Morgan Stanley Wealth Management's outsourced chief investment office. The investment advisor and retained managers have discretionary authority within the Investment Policy Statement. The Foundation reports approximately 310 individual funds, all donor-restricted. No individual provider employee is designated as the institution's office head. Investment governance

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

Section 4968 excludes state colleges and universities described in Section 511(a)(2)(B). Supporting foundations retain their own legal and filing identities, with related-organization rules read alongside the public-university exclusion. A foundation's public endowment value does not, by itself, assign it a private-college tax tier.

Net investment income is the tax base; a closing endowment balance is an asset measure.

FY2025 size-band comparison

The FY2025 survey value of USD 62.983 million places this respondent in the $50M to $100M band. The published band contains 96 respondents and USD 7.2 billion of aggregate assets. Its average five-year annualized net return is 10.1%, and its ten-year average is 7.5%. NCSE size groups NCSE average net returns

Source: NACUBO · Data through FY2025

NCSE's allocation categories combine strategies with different liquidity and valuation practices. Its Alternatives group can include private capital, hedge funds and real assets. Matching that broad weight would not establish identical holdings. The chart shows the FY2025 NCSE size group's average allocation. Published category weights are shown with an explicit rounding difference so the full bar totals 100%. NCSE allocation definitions

Public records and reporting dates

The ProPublica nonprofit API identifies the legal filer as Csusb Philanthropic Foundation, EIN 452255077. Its available filing for the year ended June 30, 2023 reports total filer assets of USD 72.318 million, revenue of USD 4.914 million, expenses of USD 5.100 million. These are filer-wide amounts, which can include buildings, operating resources and other assets outside the endowment. The filing period is retained separately from the current investment disclosures. ProPublica structured filing data

Related reading

• Endowment directory
• Endowments by state
• Endowments by size
• University endowments
• Keck Graduate Institute
• Foothill-De Anza Community Colleges Foundation
• California State University Monterey Bay