Key facts

Reported value

USD 1.80 billion

As of

June 30, 2025

Portfolio

Villard Investment Pool

Investment office

UO Foundation; Jasper Ridge Partners

Spending policy

Approximately 4% under current board policy

Management model

Outsourced investment manager: Jasper Ridge Partners

Data through FY2025

Balance reference

Endowment size and reporting scope

A managed pool is an investment vehicle with participating accounts. Its market value can include assets whose owner intends to spend them on a different timetable from a perpetual gift. The endowment balance identifies the funds held for endowed purposes; the wider institutional balance sheet also includes buildings, receivables and obligations. Donor restrictions attach to the account and its use of income even when investments are selected together. Accounting scope therefore remains part of the meaning of each reported figure. Financial reporting basis

The latest balance is labelled foundation endowment, rounded official value and is dated June 30, 2025. The return series identifies the portfolio as Villard Investment Pool. The historical survey below retains the respondent scope reported to NACUBO. A pooled investment vehicle can include working capital, reserves or assets for associated organizations alongside endowed gifts. Each participating fund owns its own economic interest in that vehicle. The pool's market value, the institution's endowment balance and the investment manager's corporate assets describe different quantities. Official report

Source: NACUBO · Data through FY2025

The survey series begins at USD 758.7 million in FY2016 and ends at USD 1,843.2 million in FY2025. Its USD 1,084.5 million change is measured after gifts, spending and other balance movements. NACUBO historical values FY2025 respondent table

Investment returns

Performance report

Fee basis: Net of fees.

Asset allocation

Source: uofoundation.org · Data through FY2025

Actual Villard Investment Pool allocation at June 30, 2025. Allocation report

Spending policy and payout

The current board-approved spending policy provides approximately 4% annual support from endowed funds. The foundation describes 35% of endowed purposes as student scholarships, 29% as faculty support, 14% as research, 1% as facilities and equipment, and 21% as other university support. These categories describe beneficiary purposes rather than the asset mix. Spending disclosure

The policy formula controls how the operating budget receives support across market cycles. Its averaging base can differ from the latest fiscal-year-end balance. The dollar distribution records support for a stated year, while a budget-support percentage measures the institution's reliance on that support. Distribution basis

The operating budget records the use of endowment support alongside other revenue. The share of a budget supplied by the endowment measures institutional reliance. The spending-policy rate instead measures an appropriation against the institution's stated asset base. The two percentages can move differently when expenses or other revenues change. A reported dollar distribution is useful alongside both, provided that the reporting period and beneficiary scope stay attached to it. Spending and reporting scope

Governance and investment office

The foundation moved to outsourced investment management on July 1, 2021. Jasper Ridge Partners manages investments within foundation policy, while foundation leadership and its Investment Committee oversee the relationship. The Board of Trustees retains fiduciary responsibility for assets and approved guidelines. Investment governance

Federal excise tax on investment income

Public Law 119-21 changed Section 4968 for tax years beginning after December 31, 2025. The private-college schedule requires at least 3,000 tuition-paying students in the preceding tax year, 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

This respondent includes a public university and affiliated charitable organizations. State colleges and universities described in Section 511(a)(2)(B) are excluded from Section 4968. An affiliated foundation is a separate legal organization. Its public-charity filing status does not itself establish liability for the private-foundation investment-income tax or a private-college tier. Related-organization rules must be read with the public-university exclusion.

The statutory asset base excludes assets used directly for exempt purposes and uses prior-year values and the statutory student-count rules. A survey endowment divided by a fall enrollment count does not reproduce that calculation. An endowment appropriation rate uses a different denominator from a tax rate on investment income.

FY2025 size-band comparison

The FY2025 NACUBO respondent value of USD 1,843.2 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

Source: NACUBO · Data through FY2025

Source: NACUBO · Data through FY2025

Source: NACUBO · Data through FY2025

The size band follows the survey's FY2025 respondent balance. It does not change when a newer pool figure covers additional assets. Survey respondent values and managed-pool values retain their separate scopes. Survey allocation definitions

The NCSE allocation groups combine several underlying investment strategies. Alternatives can include private capital, hedge funds and real assets, so matching that broad percentage does not imply matching individual holdings or liquidity. The size-band return is an average of respondent results. It describes a survey group for a common period and does not replace the institution's own investment-policy benchmark. Trailing five- and ten-year returns are annualized compound results, while the one-year return measures the final fiscal year alone. NCSE definitions

Public records and reporting dates

The ProPublica API identifies the legal filer as University Of Oregon Foundation, EIN 936015767. Its available Form 990 data for the fiscal year ended June 30, 2023 report total filer assets of USD 2,366.013 million, revenue of USD 190.959 million, expenses of USD 156.114 million. These figures cover the legal filer. Its assets and operating activity can include resources outside the endowment, and this filing period predates the investment figures above. ProPublica structured filing data

Related reading

• Endowment size bands
• Endowments.com
• FamilyOffices.com