Key facts

Reported value

USD 609.0 million

As of

June 30, 2025

Portfolio

College endowment net assets

Location

Atlanta, GA

Data through FY2025

Balance reference

Endowment size and reporting scope

For Spelman College, the common-year comparison starts with USD 506.709 million in FY2024. The FY2025 balance is USD 566.970 million. Those closing values describe the named respondent's resources. Gifts and distributions affect the change alongside investments, so the 11.89% movement cannot establish a portfolio return. Survey scope and definitions

The official USD 609.040 million figure and the FY2025 survey's USD 566.970 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 Spelman College is USD 566.970 million, compared with USD 506.709 million for FY2024. The USD 60.261 million movement is 11.89% 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 346.787 million and ends in FY2025 at USD 566.970 million. The change across those observations is USD 220.183 million. The smallest reported balance in the displayed series is USD 346.787 million in FY2016; the largest is USD 566.970 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

Spending policy and payout

Spelman's policy appropriates 4.70% of a weighted average of endowment values as of September 30 in the four preceding fiscal years. FY2025 operating endowment spending was $24.744965 million. The audit separately describes additional capital-campaign withdrawals, so those withdrawals are not merged into the operating support series. Spending disclosure

Source: spelman.edu · Data through FY2025

Distribution report

The Spelman College chart uses the institution's stated FY2025 support measure of USD 24.744965 million. That annual flow is shown separately from the closing asset balance. A department's eventual expenditure can occur after an allocation or appropriation, and donor purposes continue to govern how the support is used. Spending measures

Governance and investment office

Spelman's Board of Trustees designates some funds to function as endowments. Its audit describes prudence factors under Georgia's institutional funds law. Donor restrictions govern the beneficiary purposes of scholarships, faculty support and other endowed accounts. 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.

The tax is imposed on net investment income. Student-adjusted endowment uses prior-year fair values for assets other than those used directly for exempt purposes. The statute also contains student-count and related-organization provisions. A spending policy applies to an institution's chosen asset base, while the tax applies to investment income under federal rules.

FY2025 size-band comparison

The FY2025 survey value of USD 566.970 million places this respondent in the $500M to $1B band. The published band contains 74 respondents and USD 54.8 billion of aggregate assets. Its average five-year annualized net return is 10.7%, and its ten-year average is 7.8%. 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

The ProPublica nonprofit API identifies the legal filer as Spelman College, EIN 580566243. Its available filing for the year ended June 30, 2023 reports total filer assets of USD 870.927 million, revenue of USD 194.372 million, expenses of USD 160.810 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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