Key facts

Reported value

USD 114.1 million

As of

FY2025 survey reporting period

Portfolio

Survey respondent endowment

Location

Baltimore, MD

Data through FY2025

Balance reference

Endowment size and reporting scope

For Maryland Institute College of Art, the FY2025 survey records assets of USD 114.136 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 Maryland Institute College of Art is USD 114.136 million, compared with USD 119.386 million for FY2024. The reported balance fell by USD 5.250 million, or 4.40%, 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 79.765 million in FY2016 to USD 114.136 million in FY2025, a difference of USD 34.371 million. This series measures year-end assets after gifts and distributions. 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 Maryland Institute College of Art'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 Maryland Institute College of Art, 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

NACUBO's FY2025 table identifies Maryland Institute College of Art as a survey respondent in Baltimore, MD. It reports endowment market value and changes between survey years. The respondent table supplies no current investment-office appointment. 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.

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 114.136 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 Maryland Institute, EIN 520591661. Its available filing for the year ended May 31, 2023 reports total filer assets of USD 319.809 million, revenue of USD 122.163 million, expenses of USD 122.582 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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