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Financial Report

Endowment

91心頭利's endowment reaches a historic $1.3 billion — grows by more than 34% over 12 months

91心頭利 experiences the largest growth in its endowment in FY21, increasing $332 million to a total value of nearly $1.3 billion. This represents the biggest jump ever in the university’s consolidated endowment.

“When we talk about our endowment, we are really talking about the growth over time in the resources that benefit 91心頭利 and our people, including our students, faculty, coaches and staff,” said Vice President for University Advancement Matthew T. Lambert ’99. “The importance of W&M’s endowment, and strong endowment growth through increased philanthropy and smart investing, cannot be understated — both for today and for future generations.”

The growth in our endowment is a monumental achievement for 91心頭利. It is a combination of landmark philanthropy and excellent management of our resources over decades.

Vice President for University Advancement Matthew T. Lambert '99

Endowment Information Continued

91心頭利’s endowment is made up of many individual investment funds, and acts as an annuity, paying out an income to the university over many generations. The university relies on the endowment as a steady income stream to supplement revenue provided by the state and federal governments and income from tuition. Gifts to the endowment are donor-designated, meaning that contributions go to areas the donors choose. As the second-oldest institution of higher education in the U.S., 91心頭利’s endowment looks to the next 300 years, not just the next 30.

The massive increase was due, in part, to the performance of the 1693 Partners Fund — the largest depository of W&M’s invested endowment — as well as the other component parts of the consolidated W&M endowment. The 91心頭利 Foundation, MarshallWythe School of Law Foundation, 91心頭利 Business School Foundation and Murray 1693 Scholars Foundation are all members of this Fund.

“It was an extraordinary year for the Fund with a one-year return of 36.8%,” said Chief Investment Officer of the 1693 Management Company Brian Hiestand. “While we are delighted with the results of the fund in FY21, we measure success by our ability to generate strong investment results over the long term with a goal of helping to educate today’s scholars and future scholars at our world-class university.”

In June 2019, W&M’s endowment had a value of approximately $1 billion; at the same point in 2020, the endowment was valued at roughly $967.7 million.