Key facts

Reported value

USD 110.7 million

As of

June 30, 2025

Portfolio

Invested endowment net assets excluding outside trusts

Location

Annville, PA

Data through FY2025

Balance reference

Endowment size and reporting scope

The USD 110.662 million survey balance belongs to the respondent named Lebanon Valley College. Donor-restricted resources can be invested beside funds designated by the governing board for long-term use. Each account retains its purpose and beneficiary. A pooled vehicle can also include reserves or other long-term money, which gives its market value a different scope from endowed net assets. Survey scope and definitions

Source: NACUBO · Data through FY2025

The FY2025 survey value for Lebanon Valley College is USD 110.662 million, compared with USD 98.355 million for FY2024. The reported balance rose by USD 12.307 million, or 12.51%, from FY2024. 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 reported endowment changed from USD 60.271 million in FY2016 to USD 110.662 million in FY2025, a difference of USD 50.391 million. This series measures year-end assets after gifts and distributions. NACUBO historical workbook

Spending policy and payout

The audit authorizes expenditures up to the full 7% statutory limit for undesignated assets and 4.50% for restricted endowment assets, using the prior three calendar years' average fair value. Its investment-objective note separately references a 4.75% spending assumption. Actual appropriations were $3.878616 million in FY2025 and $3.589450 million in FY2024. The chart shows those audited amounts. Spending disclosure

Source: lvc.edu · Data through FY2025

Distribution report

For Lebanon Valley 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 college's board authorizes endowment expenditures within Pennsylvania law. The financial statements describe a total-return investment strategy and a policy benchmark combining global equities, short-term bonds and funds of hedge funds. Benchmark percentages describe performance measurement and are not treated as actual portfolio weights. 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

The survey balance alone does not establish this institution's Section 4968 liability. The calculation also requires the statutory asset base, eligible student count and related-organization treatment. No institution-specific tax rate is assigned here.

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 110.662 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%. 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 chart shows the FY2025 NCSE $100M to $250M group's average 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 Lebanon Valley College, EIN 231352354. Its available filing for the year ended June 30, 2023 reports total filer assets of USD 254.715 million, revenue of USD 111.498 million, expenses of USD 113.043 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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