Key facts

Reported value

USD 1.67 billion

As of

June 30, 2025

Portfolio

University endowment

Location

Santa Clara, CA

Investment office

Santa Clara University Investment Office

Spending policy

Approximately 4.5% under current published guidance

Data through FY2025

Balance reference

Endowment size and reporting scope

The reported balance is a stock of assets measured at a date. Annual support and investment income are flows across a fiscal year. Donor-restricted funds and board-designated funds can share an investment vehicle while retaining different spending permissions. A consolidated balance sheet also includes buildings, receivables and liabilities, which are outside an endowment-only figure. Pool value and the legal institution's net assets therefore require separate labels. Survey scope and definitions

Source: NACUBO · Data through FY2025

The FY2025 survey value for Santa Clara University is USD 1,668.622 million, compared with USD 1,555.250 million for FY2024. The USD 113.372 million movement is 7.29% 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 840.706 million and ends in FY2025 at USD 1,668.622 million. The change across those observations is USD 827.916 million. The smallest reported balance in the displayed series is USD 840.706 million in FY2016; the largest is USD 1,668.622 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

Santa Clara's FY2025 endowment report records $60 million contributed to current operations, or 9% of the university operating budget. The current distribution guidance describes approximately 4.5% annually. The $444 million of support recorded between July 2015 and June 2025 is a decade-wide total. Spending disclosure

Source: santaclara.mythoshq.com · Data through FY2025

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 Board of Trustees oversees Santa Clara and its endowment. It delegates investment oversight to the Investment Committee and vice president of finance. The Investment Office manages daily operations under the board-approved Investment Policy Statement. 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 1,668.622 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

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 displayed mix is a survey average, not this institution's target 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

NACUBO's respondent is Santa Clara 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

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• Comparable endowment sizes
• Endowment directory
• Endowments by state
• Endowments by size
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