Key facts

Reported value

USD 750.3 million

As of

June 30, 2025

Portfolio

Institute endowment

Location

Cambridge, MA

Data through FY2025

Balance reference

Endowment size and reporting scope

For Whitehead Institute for Biomedical Research, the common-year comparison starts with USD 715.839 million in FY2024. The FY2025 balance is USD 750.335 million. Those closing values describe the named respondent's resources. Gifts and distributions affect the change alongside investments, so the 4.82% movement cannot establish a portfolio return. Survey scope and definitions

Source: NACUBO · Data through FY2025

The FY2025 survey value for Whitehead Institute for Biomedical Research is USD 750.335 million, compared with USD 715.839 million for FY2024. The USD 34.496 million movement is 4.82% 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 437.671 million and ends in FY2025 at USD 750.335 million. The change across those observations is USD 312.664 million. The smallest reported balance in the displayed series is USD 437.671 million in FY2016; the largest is USD 750.335 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

The FY2025 endowment roll-forward designates $27.467979 million of investment return for operations and appropriates $1.020372 million from donor-restricted funds. Their combined $28.488351 million is shown with that combined label. Net assets redesignated during the year are a separate movement. Spending disclosure

Source: wi.mit.edu · Data through FY2025

Distribution report

The Whitehead Institute for Biomedical Research chart uses the institution's stated FY2025 support measure of USD 28.488351 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

Whitehead's audit describes donor-restricted endowment and funds designated by its Board of Directors to function as endowment. The investment objective addresses long-term asset growth in support of biomedical research. Research-institute financial reporting is kept separate from university tuition and enrollment measures. 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

This respondent is a scientific research institution. Its survey inclusion does not establish that it is an applicable tuition-charging educational institution under Section 4968. The private-foundation investment-income rules are a separate tax regime. No private-college tier is assigned from its endowment size.

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 750.335 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 Whitehead Institute For Biomedical Research, EIN 061043412. Its available filing for the year ended June 30, 2023 reports total filer assets of USD 842.417 million, revenue of USD 120.193 million, expenses of USD 122.900 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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