Key facts

Reported value

CAD 2.60 billion

As of

April 30, 2026

Portfolio

McGill Endowment Fund

Location

Montreal, QC

Investment office

McGill Office of Investments

Office head

Sophie Leblanc, head of the Office of Investments; as of Nov. 2, 2026

Data through FY2026

Balance reference

Endowment size and reporting scope

An endowment can contain many individual accounts with different donor purposes. Investing them together changes how assets are managed, while the accounts continue to record each beneficiary's interest. The market value of a pooled vehicle can also include reserves or other long-term funds. An endowment balance, a managed pool and total organizational assets can consequently differ even when all figures are reported accurately. Survey scope and definitions

The official CAD 2,600.000 million figure and the FY2025 survey's USD 1,745.940 million describe their respective dates and reporting categories. The official balance retains its stated label, endowment fund, rounded official cad 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 FY2026

The FY2025 survey value for McGill University is USD 1,745.940 million, compared with USD 1,578.165 million for FY2024. The USD 167.775 million movement is 10.63% 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 1,121.053 million and ends in FY2025 at USD 1,745.940 million. The change across those observations is USD 624.887 million. The smallest reported balance in the displayed series is USD 1,121.053 million in FY2016; the largest is USD 1,745.940 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

The survey expresses Canadian institutions' balances in U.S. dollars using the conversion conventions stated in the workbook. Exchange-rate movements can affect changes between fiscal years. The official Canadian-dollar balance elsewhere on this page retains its own currency and fiscal date. The U.S. historical values are not spliced into a Canadian-dollar line.

Investment returns

Performance report

Fee basis: Gross of investment fees.

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

McGill reports CAD 82 million distributed in FY2026. Its Endowment Funds Policy bases university spending on a rolling average of the previous four years' unit-end values. The report's combined allowance for distributions, fees and university contributions should not be read as a single cash payout percentage. Spending disclosure

Source: mcgill.ca · Data through FY2026

Distribution report

Annual support depends on both spending authority and investment liquidity. A formula determines the permitted draw, while investment redemptions and cash reserves provide the money. Private-fund capital calls and redemption limits affect timing. A closing market value does not measure those near-term demands, and an accounting appropriation does not identify every department's expenditure date. Spending measures

Governance and investment office

The Investment Committee of McGill's Board of Governors oversees the fund. The Office of Investments manages investment activity and administration within that framework. The current FY2026 report identifies Sophie Leblanc as the office's leader. Investment governance

The current official source names Sophie Leblanc, head of the Office of Investments. 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.

McGill University is a Canadian institution. The U.S. private-college schedule does not classify its Canadian endowment as a U.S. private-college portfolio. Its Canadian fiscal-year balance and the survey's U.S.-dollar conversion also use different currency conventions. No U.S. institution-specific tier is assigned here.

Reporting comparisons

The U.S. NCSE size-band averages are based on U.S. respondents. This Canadian institution is outside those published comparison groups. The historical dollar series above follows NACUBO's conversion convention; a Canadian investment return follows its stated portfolio currency and fiscal year-end. An April or March reporting period does not match the U.S. June 30 endpoint. Currency and date alignment are needed before comparing percentage performance. NCSE universe and return periods

Public records and reporting dates

NACUBO's respondent is McGill University. Annual financial statements and any nonprofit return can cover a different legal entity or a wider group of resources. A university, a supporting foundation and an investment pool can each report its own assets. Total organizational assets also include resources outside the endowment, and the tax-return accounting period can differ from the survey's reporting year. Those distinctions govern how public records are compared. Respondent identity

Related reading

• Comparable endowment sizes
• Endowment directory
• Endowments by state
• Endowments by size
• University endowments
• Arizona State University
• Middlebury College
• University of Cincinnati