Key facts

Reported value

USD 100.6 million

As of

June 30, 2026

Portfolio

Total endowment funds including outside trusts

Location

New Concord, OH

Spending policy

4.5% on the stated policy base

Data through FY2026

Balance reference

Endowment size and reporting scope

NACUBO places Muskingum University in OH and reports USD 101.108 million in FY2025. The respondent's name defines the unit being compared across the survey columns. A campus, supporting foundation and investment pool can each publish financial information, and their totals can differ. Permanent gifts and board-designated resources also have different spending permissions. The balance therefore describes the reported assets at a date, with no assumption that all of them are available for general operations. Survey scope and definitions

The official USD 100.599 million figure and the FY2025 survey's USD 101.108 million describe their respective dates and reporting categories. The official balance retains its stated label, total endowment funds including outside trusts. Official financial scope

Source: NACUBO · Data through FY2026

The FY2025 survey value for Muskingum University is USD 101.108 million, compared with USD 96.032 million for FY2024. The reported balance rose by USD 5.076 million, or 5.29%, 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 available history begins in FY2016 at USD 71.950 million and ends in FY2025 at USD 101.108 million. The change across those observations is USD 29.158 million. The smallest reported balance in the displayed series is USD 71.950 million in FY2016; the largest is USD 101.108 million in FY2025. The displayed observations are year-end asset balances. NACUBO historical workbook

Spending policy and payout

The university's policy permits up to 4.5% of the prior five-year quarterly average endowment market value. Its stated effective spending rates were 4.23% in FY2026 and 4.19% in FY2025. The FY2026 chart includes $3.929064 million of regular appropriations and the separate $5.9 million board-designated appropriation. FY2025 includes $3.720014 million of regular appropriations. The exceptional draw is included explicitly, so the dollar bars should not be read as the policy percentage alone. Spending disclosure

Source: muskingum.edu · Data through FY2026

Distribution report

A distribution from an endowed account remains subject to that account's purpose. For Muskingum University, the FY2025 asset figure alone cannot establish either the next approved draw or the part available for unrestricted operations. A policy based on several earlier valuations can produce a different dollar appropriation from a percentage of today's closing balance. The survey group's effective rate has its own measurement basis. Spending measures

Governance and investment office

Muskingum's trustees approve spending and the investment policy. The audit describes mutual funds held primarily at Park National Bank alongside hedge and private equity funds managed elsewhere. It sets strategic allocation ranges and compares results with a blended benchmark. These ranges govern investment risk; they are separate from actual asset weights at the reporting date. 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

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.

Section 4968 taxes net investment income; the spending policy governs distributions.

FY2025 size-band comparison

The FY2025 survey value of USD 101.108 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

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 Muskingum University, EIN 314379515. Its available filing for the year ended June 30, 2023 reports total filer assets of USD 211.323 million, revenue of USD 65.902 million, expenses of USD 68.856 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

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