Key facts

Reported value

USD 167.2 million

As of

FY2025 survey reporting period

Portfolio

Survey respondent endowment

Location

Hanover, IN

Data through FY2025

Balance reference

Endowment size and reporting scope

For Hanover College, the FY2025 survey records assets of USD 167.190 million. This is a closing asset balance. New gifts, investment results and distributions can all change it during the year. The respondent may hold endowed funds directly or through an affiliated organization. Restrictions attached to those funds continue to govern their use after they are invested together. Total institutional assets can also include buildings and operating resources. Survey scope and definitions

Source: NACUBO · Data through FY2025

The FY2025 survey value for Hanover College is USD 167.190 million, compared with USD 163.733 million for FY2024. The USD 3.457 million movement is 2.11% 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 136.171 million and ends in FY2025 at USD 167.190 million. The change across those observations is USD 31.019 million. The smallest reported balance in the displayed series is USD 136.171 million in FY2016; the largest is USD 182.593 million in FY2021. NACUBO historical workbook

Spending policy and payout

The FY2025 NCSE $100M to $250M group reports an average effective spending rate of 4.9%. That is a survey-group statistic and is not assigned as Hanover College's policy. An institution's own spending rule can use several prior valuation dates, a prior-year dollar draw or additional adjustments. Its approved appropriation and the cash ultimately spent by a department can differ in timing. NCSE spending-rate table

For Hanover College, an appropriation can precede a beneficiary's expenditure. Its timing can differ from the cash expense recorded by the institution. Spending measures

Governance and investment office

The FY2025 respondent is Hanover College, located in Hanover, IN. NACUBO classifies it as a private university or college endowment. The survey does not identify a current 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.

A tax rate on net investment income has a different denominator from an endowment payout rate. Section 4968 uses prior-year assets other than those used directly for exempt purposes and specifies how students are counted. Related organizations can affect the calculation. Headline assets divided by a fall enrollment figure do not reproduce every statutory step.

FY2025 size-band comparison

The FY2025 survey value of USD 167.190 million places this respondent in the $100M to $250M band. The published band contains 154 respondents and USD 24.5 billion of aggregate assets. Its average five-year annualized net return is 9.6%, and its ten-year average is 7.4%. The size band uses the FY2025 NACUBO balance. 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 Hanover College Trustees, EIN 350868096. Its available filing for the year ended June 30, 2023 reports total filer assets of USD 245.224 million, revenue of USD 70.572 million, expenses of USD 78.646 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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