Key facts

Reported value

USD 1.20 billion

As of

FY2025 survey reporting period

Portfolio

Survey respondent endowment

Location

Easton, PA

Investment office

Lafayette College Investment Office

Office head

Krishna Memani, chief investment officer; as of Nov. 2, 2026

Data through FY2025

Balance reference

Endowment size and reporting scope

The survey's respondent name determines the scope of the historical comparison. A campus and its supporting foundation can submit a combined amount or appear under separate names. Gifts remain subject to their terms even when the investments are pooled. The wider institution also owns assets used for its operations. Those operating assets are not automatically part of a permanent endowment or its investment portfolio. Survey scope and definitions

Source: NACUBO · Data through FY2025

The FY2025 survey value for Lafayette College is USD 1,200.555 million, compared with USD 1,124.647 million for FY2024. The USD 75.908 million movement is 6.75% 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 733.244 million and ends in FY2025 at USD 1,200.555 million. The change across those observations is USD 467.311 million. The smallest reported balance in the displayed series is USD 733.244 million in FY2016; the largest is USD 1,200.555 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 NCSE $1B to $5B group reports an average effective spending rate of 4.5%. That is a survey-group statistic and is not assigned as Lafayette 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 spent by a department can differ in timing. NCSE spending-rate table

The size of a spending account is separate from the current market value of its underlying endowment. A transfer from the investment pool authorizes support for the account's purpose. A smoothing formula can delay the effect of market gains or losses on that support. Unspent distributions can also remain available for a beneficiary beyond the year of appropriation. Spending measures

Governance and investment office

Lafayette's official leadership page identifies its CIO and investment-office contact. The appointment source establishes current office responsibility as of the stated access date. Historical balance comparisons follow NACUBO's respondent values and retain their fiscal years. Investment governance

The current official source names Krishna Memani, chief investment officer. This office information is stated as of November 2, 2026. Office leadership

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 1,200.555 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

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 Lafayette College, EIN 240795686. Its available filing for the year ended June 30, 2023 reports total filer assets of USD 1,649.595 million, revenue of USD 258.967 million, expenses of USD 258.408 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

• PA endowments
• Comparable endowment sizes
• Endowment directory
• Endowments by state
• Endowments by size
• College endowments
• Bucknell University
• Drexel University
• Bryn Mawr College