Key facts

Reported value

USD 640.9 million

As of

June 30, 2025

Portfolio

Endowment and funds functioning as endowment

Location

Pittsburgh, PA

Spending policy

4.25% on the stated policy base

Data through FY2025

Balance reference

Endowment size and reporting scope

For Duquesne University, the common-year comparison starts with USD 631.031 million in FY2024. The FY2025 balance is USD 739.918 million. Those closing values describe the named respondent's resources. Gifts and distributions affect the change alongside investments, so the 17.26% movement cannot establish a portfolio return. Survey scope and definitions

The official USD 640.939 million figure and the FY2025 survey's USD 739.918 million describe their respective dates and reporting categories. The official balance retains its stated label, endowment and funds functioning as endowment. 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 Duquesne University is USD 739.918 million, compared with USD 631.031 million for FY2024. The USD 108.887 million movement is 17.26% 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 280.034 million and ends in FY2025 at USD 739.918 million. The change across those observations is USD 459.884 million. The smallest reported balance in the displayed series is USD 280.034 million in FY2016; the largest is USD 739.918 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

The FY2025 spending policy applies 4.25% to the average fair market value of the previous 16 quarters ended December 31, 2023. Duquesne separates its spending policy from investment policy. Its audit also identifies a board-designated teach-out reserve, which is subject to accreditation-related conditions. Spending disclosure

Source: NACUBO · Data through FY2025

For Duquesne University, the displayed 4.25% rate applies to the institution's stated policy base. Multiplying it by the USD 739.918 million FY2025 survey balance would ignore the averaging dates or other terms of that policy. The profile therefore preserves the percentage and its stated denominator. Spending measures

Governance and investment office

Duquesne's Board of Directors can designate funds for long-term purposes. The audited investment policy permits global equity and debt securities, real assets and alternative investments. The endowment and long-term working-capital accounts retain distinct labels in the financial statements. 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.

The tax is imposed on net investment income. Student-adjusted endowment uses prior-year fair values for assets other than those used directly for exempt purposes. The statute also contains student-count and related-organization provisions. A spending policy applies to an institution's chosen asset base, while the tax applies to investment income under federal rules.

FY2025 size-band comparison

The FY2025 survey value of USD 739.918 million places this respondent in the $500M to $1B band. The published band contains 74 respondents and USD 54.8 billion of aggregate assets. Its average five-year annualized net return is 10.7%, and its ten-year average is 7.8%. 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

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 Duquesne University Of The Holy Spirit, EIN 251035663. Its available filing for the year ended June 30, 2023 reports total filer assets of USD 1,090.118 million, revenue of USD 543.327 million, expenses of USD 438.490 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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