Key facts

Reported value

USD 1.14 billion

As of

June 30, 2025

Portfolio

Endowment

Location

Milwaukee, WI

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

The official USD 1,138.420 million figure and the FY2025 survey's USD 1,131.419 million describe their respective dates and reporting categories. The official balance retains its stated label, endowment net assets. 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 Marquette University is USD 1,131.419 million, compared with USD 996.986 million for FY2024. The USD 134.433 million movement is 13.48% 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 550.106 million and ends in FY2025 at USD 1,131.419 million. The change across those observations is USD 581.313 million. The smallest reported balance in the displayed series is USD 550.106 million in FY2016; the largest is USD 1,131.419 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

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

Spending policy and payout

Marquette appropriated $46.016 million from endowment in FY2025 and $43.405 million in FY2024. Its policy describes a prior-year dollar allocation with adjustments for new gifts and inflation. The formula's growth factors are different from a percentage charged against current total assets. Spending disclosure

Source: marquette.edu · Data through FY2025

Distribution report

A policy percentage and a budget-support percentage use different denominators. The first applies to the policy's asset base; the second compares endowment support with the institution's revenue or expenditure. Gifts for a specific scholarship or program also limit how its distribution can be used. Pooled investment management does not turn restricted support into money available for any operating purpose. Spending measures

Governance and investment office

The CIO recommends endowment policy to the Investment Committee, which presents it to the Board of Trustees for approval. The university publishes separate guidance on spending policy and gifts, with individual donor accounts governing the purposes supported. 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 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 1,131.419 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 Marquette University, EIN 390806251. Its available filing for the year ended June 30, 2023 reports total filer assets of USD 1,955.063 million, revenue of USD 709.992 million, expenses of USD 652.702 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

• WI endowments
• Comparable endowment sizes
• Endowment directory
• Endowments by state
• Endowments by size
• University endowments
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