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Georgetown University: endowment and investment office
Georgetown University reports USD 4.84 billion in university endowment net assets for June 30, 2026. Balance source
Georgetown's audited statements report $4,844.735 million in endowment net assets at June 30, 2026, compared with $3,951.364 million in FY2025. The endowment includes $2,993.812 million in donor-restricted funds and $1,850.923 million in board-designated funds. Pooled endowment investments total $4,797.845 million; separately held life-income and other funds make up the remainder. These amounts identify endowment assets rather than all university investments. Official report
Key facts
- Reported value
- USD 4.84 billion
- As of
- June 30, 2026
- Portfolio
- Endowment
- Investment office
- Georgetown University Investment Office
Endowment size and reporting scope
The latest balance is labelled university endowment net assets and is dated June 30, 2026. The return series identifies the portfolio as Endowment. The historical survey below retains the respondent scope reported to NACUBO. A pooled investment vehicle can include working capital, reserves or assets for associated organizations alongside endowed gifts. Each participating fund owns its own economic interest in that vehicle. The pool's market value, the institution's endowment balance and the investment manager's corporate assets describe different quantities. Official report
| Fiscal year | Survey endowment, USD millions |
|---|---|
| FY2016 | 1,483.5 |
| FY2017 | 1,661.7 |
| FY2018 | 1,769.6 |
| FY2019 | 1,822.5 |
| FY2020 | 1,863.7 |
| FY2021 | 2,592.0 |
| FY2022 | 3,210.0 |
| FY2023 | 3,299.0 |
| FY2024 | 3,638.4 |
| FY2025 | 3,951.4 |
The endowment's reported survey value moved from USD 1,483.5 million to USD 3,951.4 million across these observations. This 166.4% change includes gains and losses on investments along with gifts, spending and transfers. NACUBO historical values FY2025 respondent table
Spending policy and payout
Georgetown's formula-based income distribution was $171.919 million in FY2026, compared with $160.279 million in FY2025. The report separately includes $52.936 million of internal investment management fees, endowment management expenses and other internal allocations in total pooled payout. Its endowment note records $225.783 million in total earnings allocated for operations, including separately held investments. Those measures have different scopes and are kept separate. Spending disclosure
| Fiscal year | Formula-based income distribution, USD millions |
|---|---|
| FY2025 | 160.279 |
| FY2026 | 171.919 |
Distribution report Distribution report
Spending reaches the beneficiary through the institution's appropriation process. Donor purposes continue to govern the use of the money after it leaves the investment pool. The reported payout and policy percentage answer different questions because their periods and denominators differ. Distribution basis
Governance and investment office
Georgetown's Investment Office manages the endowment under the university's investment and spending policies. The audited statements distinguish donor-restricted and board-designated funds, describe the pooled-unit structure and record annual appropriations. Its total-return spending policy operates independently of the portfolio's current yield and appreciation. Investment governance
Federal excise tax on investment income
Public Law 119-21 changed IRC 4968 for tax years beginning after December 31, 2025. An applicable institution must have at least 3,000 tuition-paying students in the preceding tax year, with more than half located in the United States. Its student-adjusted endowment must be at least $500,000. The rate is 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
The tax applies to net investment income. Student-adjusted endowment uses the prior year's fair value of assets other than those used directly for exempt purposes, with statutory student-count and related-organization rules. Dividing the headline endowment by a fall enrollment number can give a different result. A rate on investment income also differs from a spending-policy percentage applied to average assets.
FY2025 size-band comparison
The FY2025 NACUBO respondent value of USD 3,951.4 million places this reporting entity in the $1B to $5B band. The published group contains 125 respondents. Its average annualized five-year return was 10.8%, its ten-year average was 8.0%, and its average effective spending rate was 4.5%. These are survey averages for FY2025. Respondent counts Average net returns Spending-rate table
| NCSE measure | FY2025 average |
|---|---|
| One-year net return | 11.0% |
| Five-year annualized net return | 10.8% |
| Ten-year annualized net return | 8.0% |
| Effective spending rate | 4.5% |
NCSE's figures are size-band averages, rather than medians or the institution's policy targets. The allocation graphic uses the published survey categories and identifies the rounding difference. A single year's result and a trailing annualized return measure different periods. Survey allocation definitions
Public records and reporting dates
The official investment report supplies the portfolio figures and measurement dates on this page. The institution or related reporting entity also has a public nonprofit filing record. Tax-return assets and expenses cover that legal filer and can be broader than its endowment. Nonprofit filing record
Sources
- https://ocfo.georgetown.edu/general-accounting-office/financial-statements-reports-disclosures-and-plans/
- https://edge.sitecorecloud.io/nacubo1-nacubo-prd-dc8b/media/Nacubo/Documents/research/Final-Endowment-Market-Values--2023-to-1974-Revised.xlsx
- https://edge.sitecorecloud.io/nacubo1-nacubo-prd-dc8b/media/Nacubo/Documents/EndowmentFiles/2025-NCSE-Endowment-Market-Values-for-US-and-Canadian-Institutions-FINAL.xlsx
- https://investments.georgetown.edu/annual-report/
- https://www.congress.gov/119/plaws/publ21/PLAW-119publ21.pdf
- https://edge.sitecorecloud.io/nacubo1-nacubo-prd-dc8b/media/Nacubo/Documents/EndowmentFiles/2025-NCSE-Public-Tables--Number-of-NCSE-Participants-FINAL.pdf
- https://edge.sitecorecloud.io/nacubo1-nacubo-prd-dc8b/media/Nacubo/Documents/EndowmentFiles/2025-NCSE-Public-Tables--10-Year-Returns-by-Size-and-Type-FINAL.pdf
- https://edge.sitecorecloud.io/nacubo1-nacubo-prd-dc8b/media/Nacubo/Documents/EndowmentFiles/2025-NCSE-Public-Tables--Spending-Rates-FINAL.pdf
- https://edge.sitecorecloud.io/nacubo1-nacubo-prd-dc8b/media/Nacubo/Documents/EndowmentFiles/2025-NCSE-Public-Tables--Summary-Asset-Allocations-FINAL.pdf
- https://projects.propublica.org/nonprofits/organizations/530196603
- https://endowments.com/
- https://familyoffices.com/
Related profiles
- Williams College (USD 3.93 billion)
- Amherst College (USD 3.90 billion)
- Boston University (USD 4.70 billion)
- Boston College (USD 5.19 billion)
- Carnegie Mellon University (USD 4.04 billion)
- California Institute of Technology (USD 4.32 billion)
