Endowments

As a member of the University of Denver Board of Trustees and Chair of the Investment Committee, I am pleased to share information about the University’s endowment for the Fiscal Year ending June 30, 2024.

We continue to build on our strong working relationship with Investure, our outsourced investment office. This is our eighth year of partnership with Investure. As a firm, they have $18 billion in assets under management and a team of 40 professionals that work with a dedicated DU staff.  Investure provides outsourced investment services to nine colleges and universities and seven foundations,  in addition to DU. 

During the fiscal year ending June 30, 2024, the University’s endowment produced a positive net return of 9.35% after fees and expenses. While official 2024 peer data is not yet available, this return would compare very favorably with the returns achieved by private universities with much larger and more mature endowments. Five-year peer data would have DU’s endowment performing slightly above the median for all universities. This was during a period when we were building private market investments from 6% to over 40% of the overall portfolio.

It is an honor for all those on the Investment Committee, the Chief Financial Officer’s Office and the Advancement Office to support the management of the endowment. We also want to thank our donors, alumni, friends, and partners for supporting these efforts through their generosity. 

FY24 Endowment Facts and Figures

A critical source of support for DU today and in perpetuity. 

Endowment Impact

Endowment FAQ

• What is an endowment?

  An endowed fund is a gift held in perpetuity for the purpose of institutional support and growth. The endowment is the aggregated collection of all endowed funds gifted to the University by generous donors, of which many are dedicated to specific purposes defined by the donor. The gift principal (initial dollar amount) is invested, while a percentage of the fund’s current market value is released for direct spending on the selected endeavor. 

• How are the funds managed?

  Each endowed fund is administered according to the provisions of a written agreement approved by the donor and the University at the time the fund is established. This agreement sets forth the name and purpose of the endowment and is developed through discussions with the donor in conjunction with the Office of Advancement.

  Endowed funds are pooled for investment to contain costs and maximize returns. Separate accounting is maintained for each endowed fund to track growth, expenditures and additional contributions — thereby preserving the identity and purpose of each fund. The investment pool is overseen by the University’s Investment Committee, which employed the services of Investure, LLC, a leading investment firm, to actively manage the University's Endowment Investments. Earnings in excess of the amount expended from each fund (a maximum of 4.5%) are retained in the fund to provide the basis for continued growth.

• How can I establish an endowed fund?

  A $50,000 minimum commitment is required to establish a new endowed fund that can be funded with a one-time gift, pledged over the course of five years, or deferred through a bequest or estate gift. Check out the many ways you can give to DU here.

  
  Certain endowed gift types have minimum commitments above $50,000. The Office of Advancement is available to help you maximize the impact you can have through an endowed fund. Please contact donorrelations@du.edu to learn more.

• How can I find out the status of my endowed fund?

  The Office of Advancement provides donors of endowed funds with an annual financial report after the close of each fiscal year that details the performance of their specific endowment, what expenditures occurred, in addition to information on the performance of the overall DU endowment. Our fiscal year runs from July 1 – June 30. For questions of more information about annual reporting please contact donorrelations@du.edu.

• DU Endowment Policies

  University of Denver Investment Policy

  The University of Denver’s investment philosophy is to maximize return on assets by exercising an appropriate level of risk; benefiting current and future generations of students and honoring a donor’s intent for the gift and growth of their investment. The University manages stock market volatility by maintaining a diversified portfolio, including equities, fixed income, real estate, and other investments. However, diversification alone will not prevent the endowment from sustaining losses during market downturns. The University of Denver’s endowment distribution policy insulates its budget from short-term fluctuations in the financial markets by using a conservative spending rate formula. These funds are pooled for investment to minimize costs and maximize returns. A separate account is maintained for each endowed fund to track growth, expenditures, and additional contributions—thereby preserving the identity and purpose of each fund. The investment pool is overseen by the University’s Investment Committee, which employs the services of Investure LLC, a leading investment firm, to actively manage the University’s Endowment Investments. Earnings in excess of the amount expended from each fund are retained in the fund to provide the basis for continued growth.

   

  Spending Policy

  The University of Denver’s endowment spending rate policy is currently 4.5% of an individual endowment fund’s market value. The majority of these funds include true endowments, made up of gifts restricted by donors to provide long-term funding for designated purposes. Donors frequently specify a particular purpose for gifts, creating endowments to fund scholarships and fellowships, professorships, and other University programs. Although distinct in purpose or restriction, endowed funds are commingled in an investment pool but tracked on an individual account basis.

   

  Campaign Investment Fund

  As we continue to deepen our commitment to building a global culture of engagement and philanthropy, 5% of philanthropic gifts received on or after January 1, 2018, will be allocated to support fundraising and engagement efforts. Additionally, the University will commit a portion of annual reserve funding to support campaign operations. The combined funding from these two sources constitute the Campaign Investment Fund.