UCLA Foundation: endowment and investment office

UCLA Foundation reports USD 4.77 billion in nacubo respondent endowment value for FY2025 survey reporting date. Balance source

The UC annual endowment report separately lists UCLA Foundation. It reports a market value of $4,766.8 million for that foundation and gives its own return history. The foundation is separate from UCLA campus assets held in UC pools and from the full University of California system. Official report

Key facts

Reported value
USD 4.77 billion
As of
FY2025 survey reporting date
Portfolio
UCLA Foundation
Investment office
UCLA Foundation investment program
Portfolio facts. UCLA Foundation
Portfolio facts. UCLA Foundation
Data through FY2025

Balance reference

Endowment size and reporting scope

The survey identifies the respondent as UCLA Foundation. Its investment report uses the portfolio name UCLA Foundation. The balance history follows the survey respondent, while performance follows the named portfolio. Endowed gifts may carry individual purposes even when they are invested together. The investment office can pool those funds for management and still account for each beneficiary separately. A change in the endowment balance includes gifts, appropriations and transfers alongside gains and losses on investments. Official report

Endowment value over time. UCLA Foundation. NACUBO respondent values; USD millions. Gifts and spending affect balances.
Endowment value over time. UCLA Foundation. NACUBO respondent values; USD millions. Gifts and spending affect balances.
Source: NACUBO · Data through FY2025
Fiscal yearSurvey endowment, USD millions
FY20161,803.7
FY20172,062.6
FY20182,522.6
FY20192,746.9
FY20202,880.2
FY20213,892.7
FY20223,560.7
FY20233,873.1
FY20244,298.6
FY20254,766.8

Across the reported FY2016 to FY2025 observations, the survey balance changed by USD 2,963.1 million (164.3%). This is balance growth; it includes the effect of new capital and distributions. NACUBO historical values FY2025 respondent table

Investment returns

PortfolioPeriod endHorizonReported return
UCLA FoundationJune 30, 20251 year11.6%
UCLA FoundationJune 30, 20255 years, annualized9.6%
UCLA FoundationJune 30, 202510 years, annualized7.3%

Performance report

Fee basis: Net returns, per UC endowment report.

The 1-year result is 11.6%, while the 10-year result is 7.3% annually. The trailing periods share the same end date and overlap; their percentages are not added together. A long-term annualized return describes compound growth over the full period. The year-end asset balance also reflects money entering or leaving the portfolio. Return series

Spending policy and payout

The report states a long-term objective of earning a real return sufficient to cover the foundation's spending rate, after costs and inflation. The return objective is not reported as an actual spending rate. Spending disclosure

A distribution is money made available for the fund's designated use. A policy rate uses the averaging base defined by the institution. Dividing the distribution by the latest closing balance would create another measure, so the published formula and the reported dollar amount retain their own labels. Distribution basis

Governance and investment office

The foundation has its own reporting entity and taxpayer identifier. The UC annual endowment report provides foundation-level investment information within its system-wide disclosures. Investment governance

Federal excise tax on investment income

The university endowment excise tax in IRC 4968 excludes state colleges and universities described in IRC 511(a)(2)(B). An affiliated foundation is a separate legal organization, rather than itself a tuition-charging college. Related-organization attribution rules must be read with that public-university exclusion. A foundation's Form 990 does not establish a private-college tax tier. Public Law 119-21, Section 70415

The 2025 law created private-college rates of 1.4%, 4% and 8% for tax years beginning after December 31, 2025. Those rates tax net investment income, not total assets. The ordinary private-foundation rate of 1.39% belongs to a different tax regime; it is not automatically imposed on every university-affiliated foundation. The institutional and foundation balances on this page keep their respective reporting scopes. IRS private-foundation rules

FY2025 size-band comparison

The FY2025 NACUBO respondent value of USD 4,766.8 million places this reporting entity in the $1B to $5B band. The published group contains 125 respondents. Its average annualized five-year return was 10.8%, its ten-year average was 8.0%, and its average effective spending rate was 4.5%. These are survey averages for FY2025. Respondent counts Average net returns Spending-rate table

NCSE measureFY2025 average
One-year net return11.0%
Five-year annualized net return10.8%
Ten-year annualized net return8.0%
Effective spending rate4.5%
Net returns and size-band average. FY2025 endpoints only; UCLA Foundation. Net returns, per UC endowment report.
Net returns and size-band average. FY2025 endpoints only; UCLA Foundation. Net returns, per UC endowment report.
Source: NACUBO · Data through FY2025
Size-band asset mix. FY2025 NCSE $1B to $5B average. Survey weights, separate from institution holdings.
Size-band asset mix. FY2025 NCSE $1B to $5B average. Survey weights, separate from institution holdings.
Source: NACUBO · Data through FY2025

NCSE returns are net of external management fees and expenses for periods ended June 30, 2025. A portfolio reported on another cost convention or fiscal-year end describes a different result. Survey allocation definitions

Public records and reporting dates

The official investment report supplies the portfolio figures and measurement dates on this page. The institution or related reporting entity also has a public nonprofit filing record. Tax-return assets and expenses cover that legal filer and can be broader than its endowment. Nonprofit filing record

Sources

  1. https://edge.sitecorecloud.io/nacubo1-nacubo-prd-dc8b/media/Nacubo/Documents/EndowmentFiles/2025-NCSE-Endowment-Market-Values-for-US-and-Canadian-Institutions-FINAL.xlsx
  2. https://ucop.edu/investment-office/investment-reports/annual-reports/annual-endowment-report-2024-25.pdf
  3. https://edge.sitecorecloud.io/nacubo1-nacubo-prd-dc8b/media/Nacubo/Documents/research/Final-Endowment-Market-Values--2023-to-1974-Revised.xlsx
  4. https://www.congress.gov/119/plaws/publ21/PLAW-119publ21.pdf
  5. https://www.irs.gov/charities-non-profits/irc-section-4940d-exemption-for-certain-operating-foundations
  6. https://edge.sitecorecloud.io/nacubo1-nacubo-prd-dc8b/media/Nacubo/Documents/EndowmentFiles/2025-NCSE-Public-Tables--Number-of-NCSE-Participants-FINAL.pdf
  7. https://edge.sitecorecloud.io/nacubo1-nacubo-prd-dc8b/media/Nacubo/Documents/EndowmentFiles/2025-NCSE-Public-Tables--10-Year-Returns-by-Size-and-Type-FINAL.pdf
  8. https://edge.sitecorecloud.io/nacubo1-nacubo-prd-dc8b/media/Nacubo/Documents/EndowmentFiles/2025-NCSE-Public-Tables--Spending-Rates-FINAL.pdf
  9. https://edge.sitecorecloud.io/nacubo1-nacubo-prd-dc8b/media/Nacubo/Documents/EndowmentFiles/2025-NCSE-Public-Tables--Summary-Asset-Allocations-FINAL.pdf
  10. https://projects.propublica.org/nonprofits/organizations/952250801
  11. https://endowments.com/
  12. https://familyoffices.com/

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