Key facts

Reported value

USD 751.2 million

As of

June 30, 2025

Portfolio

Total endowment

Location

Haverford, PA

Management model

Investure; separately held trust retained

Data through FY2025

Balance reference

Endowment size and reporting scope

At USD 755.248 million, Haverford College's survey balance measures assets at a reporting date. The prior-year observation is USD 706.504 million. Neither amount measures unrestricted operating cash. A fund's donor purpose can limit spending even when its investments participate in a common pool. Survey scope and definitions

The official USD 751.200 million figure and the FY2025 survey's USD 755.248 million describe their respective dates and reporting categories. The official balance retains its stated label, total endowment market value, 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 Haverford College is USD 755.248 million, compared with USD 706.504 million for FY2024. The USD 48.744 million movement is 6.90% 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 471.744 million and ends in FY2025 at USD 755.248 million. The change across those observations is USD 283.504 million. The smallest reported balance in the displayed series is USD 471.744 million in FY2016; the largest is USD 755.248 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 of all fees and expenses.

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: haverford.edu · Data through FY2025

Actual allocation at June 30, 2025. Published categories sum to 99.8%; 0.2% reconciles rounding to the reported 100% total and is not a holding. Allocation report

Spending policy and payout

The FY2025 letter reports $29.8 million in spending and other withdrawals. It describes the spending withdrawal as 23% of operating revenues and reports a 4.4% one-year endowment spending rate on the stated beginning-value basis. The combined withdrawal figure and the reported spending-rate measure retain their different definitions. Spending disclosure

Source: haverford.edu · Data through FY2025

Distribution report

The Haverford College chart uses the institution's stated FY2025 support measure of USD 29.800000 million. That annual flow is shown separately from the closing asset balance. A department's eventual expenditure can occur after an allocation or appropriation, and donor purposes continue to govern how the support is used. Spending measures

Governance and investment office

Haverford selected Investure as its investment office in late 2022. Investure manages the endowment assets outside a separately held trust. The College's Investment Committee and Board of Managers retain fiduciary responsibility and approve the portfolio's policy direction. 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.

Annual support and federal tax measure different flows. A 5% spending rule, where an institution uses one, does not imply a 5% income-tax rate. The law's student-adjusted asset measure excludes assets used directly for exempt purposes and incorporates related-organization rules. Individual tax treatment follows that statutory calculation and the institution's own circumstances.

FY2025 size-band comparison

The FY2025 survey value of USD 755.248 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

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 Corporation Of Haverford College, EIN 236002304. Its available filing for the year ended June 30, 2023 reports total filer assets of USD 883.366 million, revenue of USD 211.707 million, expenses of USD 163.519 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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