Key facts

Reported value

USD 45.0 million

As of

June 30, 2025

Portfolio

Endowment market value, rounded official figure

Location

San Marcos, CA

Data through FY2025

Balance reference

Endowment size and reporting scope

The USD 45.073 million survey balance belongs to the respondent named California State University San Marcos Foundation. Donor-restricted resources can be invested beside funds designated by the governing board for long-term use. Each account retains its purpose and beneficiary. A pooled vehicle can also include reserves or other long-term money, which gives its market value a different scope from endowed net assets. The survey balance and any broader investment-pool value are reported separately. Survey scope and definitions

Source: NACUBO · Data through FY2025

The FY2025 survey value for California State University San Marcos Foundation is USD 45.073 million, compared with USD 36.560 million for FY2024. The USD 8.513 million movement is 23.29% 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

The available history begins in FY2016 at USD 22.009 million and ends in FY2025 at USD 45.073 million. The change across those observations is USD 23.064 million. The smallest reported balance in the displayed series is USD 22.009 million in FY2016; the largest is USD 45.073 million in FY2025. The displayed observations are year-end asset balances. NACUBO historical workbook

Spending policy and payout

The official FY2025 endowment page reports more than $1.3 million in support for programs, scholarships and other initiatives. This is a lower-bound description, so it is retained in words without converting it to an exact dollar bar. Spending disclosure

For California State University San Marcos Foundation, 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 CSUSM Foundation manages the endowment using a diversified long-term investment strategy. The university describes the endowment as permanent funding for scholarships, academic programs, research and faculty support. 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.

These rates apply to net investment income. Statutory student counts and related-organization rules govern the calculation.

FY2025 size-band comparison

The FY2025 survey value of USD 45.073 million places this respondent in the Under $50M band. The published band contains 76 respondents and USD 2.4 billion of aggregate assets. Its average five-year annualized net return is 10.0%, and its ten-year average is 7.5%. The size band uses the FY2025 NACUBO balance. 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 displayed mix is a survey average, not this institution's target 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 California State University San Marcos Foundation, EIN 800390564. Its available filing for the year ended June 30, 2023 reports total filer assets of USD 50.872 million, revenue of USD 7.581 million, expenses of USD 5.360 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

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