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October 11, 2023

Yale’s endowment drops to $40.7B, despite 1.8% return on investment

YALE UNIVERSITY | MICHAEL MARSLAND Yale University's New Haven campus.
By Andrew Larson

Yale University’s endowment gained $759 million from its investments in the fiscal year that ended June 30, representing a 1.8% return, the school announced Wednesday.

Also, the school’s endowment received $292 million in gifts during the fiscal year.

However, the endowment decreased in value, from $41.4 billion on June 30, 2022 to $40.7 billion on June 30, 2023, after disbursing $1.8 billion to the operating budget.

Yale’s endowment is “managed to provide a steady stream of income to the university’s operating budget, while preserving purchasing power for future generations.” 

“The endowment invests with a long time-horizon, and the university balances current spending needs with support for its long-term priorities,” the announcement says.

Spending from the endowment includes supporting a need-blind admissions policy, recent student-body growth, sustainability efforts and investment in science and engineering.

Yale said its investment strategy has produced positive long-term results. 

Over the last decade, its endowment returned 10.9% per year, exceeding the average 10-year return for college and university endowments by about 3% per year. 

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