Key facts

Reported value

USD 78.0 million

As of

FY2025 survey reporting period

Portfolio

Survey respondent endowment

Location

Helena, MT

Spending policy

Approximately 5% of three-year average fair market value

Data through FY2025

Balance reference

Endowment size and reporting scope

NACUBO places Carroll College in MT and reports USD 77.957 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

Source: NACUBO · Data through FY2025

The FY2025 survey value for Carroll College is USD 77.957 million, compared with USD 77.719 million for FY2024. The reported balance rose by USD 0.238 million, or 0.31%, 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 35.911 million and ends in FY2025 at USD 77.957 million. The change across those observations is USD 42.046 million. The smallest reported balance in the displayed series is USD 35.911 million in FY2016; the largest is USD 77.957 million in FY2025. The displayed observations are year-end asset balances. NACUBO historical workbook

Spending policy and payout

Carroll College describes an annual distribution of approximately 5% of the endowment's three-year average fair market value. Approved uses follow donor restrictions and can include scholarships, academic support and faculty enrichment. The chart shows the approximate policy rate on the stated average valuation base. It does not estimate a dollar draw by multiplying the latest closing balance. Spending disclosure

Source: NACUBO · Data through FY2025

A distribution from an endowed account remains subject to that account's purpose. For Carroll College, the FY2025 asset figure alone cannot establish either the next approved draw or the part available for unrestricted operations. A policy based on several earlier valuations can produce a different dollar appropriation from a percentage of today's closing balance. The survey group's effective rate has its own measurement basis. Spending measures

Governance and investment office

NACUBO's FY2025 table identifies Carroll College in Helena, MT. Its respondent category is Private college/university endowment or Other non-profit institution. NACUBO does not identify an investment-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

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.

Section 4968 taxes net investment income; the spending policy governs distributions.

FY2025 size-band comparison

The FY2025 survey value of USD 77.957 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

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

The ProPublica nonprofit API identifies the legal filer as Carroll College, EIN 810231774. Its available filing for the year ended June 30, 2024 reports total filer assets of USD 153.022 million, revenue of USD 75.696 million, expenses of USD 70.615 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
• College endowments
• Montana Technological University
• Radford University Foundation
• Wilson College