Endowment Performance

Endowment Performance

Grinnell’s investment strategy is designed to achieve strong risk-adjusted returns over a multi-year horizon rather than maximizing returns in any single year. Investment income has historically been particularly important in the growth of Grinnell’s resources. Over the past decade, the endowment generated investment gains in excess of $1.6 billion and provided over $775 million to support Grinnell’s institutional mission. As of June 30, 2024, the endowment’s annualized three-, five-, and ten-year returns were 0.2%, 9.0%, and 7.7%, respectively.

During FY 2024 the endowment’s market value increased $164.9 million with an ending value of $2.67 billion as of June 30, 2024. Inflows to the endowment included $259.9 million in investment gains and $5.3 million in philanthropic gifts. Total payout in support of the operating budget and reserves were $112.5 million. Reserves provide resources for unforeseen circumstances such as weather damage or the pandemic.

Impact

Grinnell College enrolls exceptional students without consideration of their financial status. For the 2024-25 academic year, the College has awarded $77.2 million in institutional financial aid, meeting 100% of demonstrated financial need without loans. Among current Grinnell students, 68% receive need-based financial aid with an average aid package of $67,476. Approximately 14.5% of the scholarships awarded by Grinnell are supported by philanthropy from donors. After just three years of Grinnell’s no-loan financial aid policy, the Class of 2024 graduated with an average debt of $15,946, compared to the national average of $37,850.

Overall, distributions from the Grinnell College endowment currently funds 60.9% of the College’s annual operating budget, the highest proportion among Grinnell’s 17 peer institutions. This dependence means that Grinnell is tied with Princeton University as the most endowment-dependent college or university in the U.S.