Key facts

Reported value

USD 1.39 billion

As of

June 30, 2026

Portfolio

Endowment net assets, rounded official value

Location

Worcester, MA

Data through FY2026

Balance reference

Endowment size and reporting scope

A financial report can present both investment assets and endowment net assets. Related receivables, assets held by outside trustees and board-designated funds can affect those totals. The accounting category and valuation date are part of the figure's meaning. New gifts, transfers and authorized support also change the closing balance. A larger year-end balance does not establish the percentage investment return achieved during that year. Survey scope and definitions

The official USD 1,390.000 million figure and the FY2025 survey's USD 1,207.691 million describe their respective dates and reporting categories. The official balance retains its stated label, endowment net assets, rounded official value. A change in currency, period or included accounts can produce a different total; the figures are presented separately. Official financial scope

Source: NACUBO · Data through FY2026

The FY2025 survey value for College of the Holy Cross is USD 1,207.691 million, compared with USD 1,109.264 million for FY2024. The USD 98.427 million movement is 8.87% 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 680.993 million and ends in FY2025 at USD 1,207.691 million. The change across those observations is USD 526.698 million. The smallest reported balance in the displayed series is USD 680.993 million in FY2016; the largest is USD 1,207.691 million in FY2025. These are closing asset values. They do not show how much of a year's movement came from new gifts, spending or investment results. NACUBO historical workbook

Spending policy and payout

Holy Cross reports $53.0 million appropriated from endowment in FY2026. It separately reports $52.0 million of endowment support in operating results. Those amounts have different accounting scopes, so the spending graphic follows the appropriation measure. Spending disclosure

Source: holycross.edu · Data through FY2026

Distribution report

A policy percentage and a budget-support percentage use different denominators. The first applies to the policy's asset base; the second compares endowment support with the institution's revenue or expenditure. Gifts for a specific scholarship or program also limit how its distribution can be used. Pooled investment management does not turn restricted support into money available for any operating purpose. Spending measures

Governance and investment office

The college publishes audited statements and a fiscal-year financial summary. Its Investment Committee establishes allocation policy with attention to liquidity, purchasing power and risk tolerance. The statements distinguish the university's investment results from movements in the pension plan. 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 These rates apply to net investment income, using the law's prior-year asset and student-count definitions.

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.

FY2025 size-band comparison

The FY2025 survey value of USD 1,207.691 million places this respondent in the $1B to $5B band. The published band contains 125 respondents and USD 268.0 billion of aggregate assets. Its average five-year annualized net return is 10.8%, and its ten-year average is 8.0%. The size classification follows the survey-year balance even where an official disclosure on this page uses a later year or a different portfolio scope. 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 Trustees Of The College Of The Holy Cross, EIN 042103558. Its available filing for the year ended June 30, 2023 reports total filer assets of USD 1,609.954 million, revenue of USD 308.222 million, expenses of USD 317.229 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

• MA endowments
• Comparable endowment sizes
• Endowment directory
• Endowments by state
• Endowments by size
• College endowments
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• Brandeis University
• Babson College