Key facts

Reported value

USD 1.11 billion

As of

June 30, 2025

Portfolio

Endowment investment portfolio

Location

Colorado Springs, CO

Spending policy

5% on the stated policy base

Management model

Outsourced CIO partner: Partners Capital Investment Group

Data through FY2025

Balance reference

Endowment size and reporting scope

The reported balance is a stock of assets measured at a date. Annual support and investment income are flows across a fiscal year. Donor-restricted funds and board-designated funds can share an investment vehicle while retaining different spending permissions. A consolidated balance sheet also includes buildings, receivables and liabilities, which are outside an endowment-only figure. Pool value and the legal institution's net assets therefore require separate labels. Survey scope and definitions

The official USD 1,109.000 million figure and the FY2025 survey's USD 1,061.013 million describe their respective dates and reporting categories. The official balance retains its stated label, endowment and perpetual trusts, 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 FY2025

The FY2025 survey value for Colorado College is USD 1,061.013 million, compared with USD 989.703 million for FY2024. The USD 71.310 million movement is 7.21% 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 683.225 million and ends in FY2025 at USD 1,061.013 million. The change across those observations is USD 377.788 million. The smallest reported balance in the displayed series is USD 683.225 million in FY2016; the largest is USD 1,061.013 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

Investment returns

Performance report

Fee basis: Net annual return.

A trailing multi-year return is an annualized compound result over the period shown. The one-year figure covers the final year. These periods overlap, so their returns are not added. A published dollar investment gain can reflect accounting categories and cash flows that differ from the percentage performance calculation. Return definitions and reporting basis

Asset allocation

Source: coloradocollege.edu · Data through FY2025

Published portfolio asset allocation in the FY2025 annual endowment report. Allocation report

Spending policy and payout

The college reports a $45.1 million fiscal-year payout. Its policy applies 5% to a trailing 12-quarter average as of the prior December 31, with limits on annual changes. It subtracts 5% of each allocated payout as a management and related-expense surcharge. That surcharge is 5% of the payout, not 5% of the endowment. Spending disclosure

Source: coloradocollege.edu · Data through FY2025

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 Board of Trustees Committee on Investments oversees the program. The college identifies Partners Capital Investment Group as its outsourced CIO partner and describes monitoring 66 external investment firms. Donor purposes continue to apply to the underlying accounts. 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 1,061.013 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

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 Colorado College Th, EIN 840402510. Its available filing for the year ended June 30, 2023 reports total filer assets of USD 1,399.097 million, revenue of USD 263.303 million, expenses of USD 232.068 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

• Comparable endowment sizes
• Endowment directory
• Endowments by state
• Endowments by size
• College endowments
• University of Denver
• University System of New Hampshire & University of New Hampshire Foundation
• The University of Western Ontario