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U.S.

and Canadian Institutions Listed by Fiscal Year 2012 Endowment Market Value and Percentage Change* in Endowment Market Value from FY 2011 to FY 2012

Before reviewing the data on the following pages, please note: The percentage change values listed for the participating institutions DO NOT represent the rate of return for the endowments investments. Rather, the percentage change in the market value of an endowment from FY 2011 to FY 2012 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses. The market values also include the estimated valuations of real estate and other illiquid assets, which may have large increases or decreases in value during a relatively short period of time. In addition, transfers to the endowment from other institutional budget accounts may account for the differences in growth in endowment assets. These factors suggest that any large increases or decreases in endowments over the past year may be exaggerated. As such, large percentage changes should be interpreted very cautiously.

Copyright 2013 National Association of College and University Business Officers and Commonfund Institute.

U.S. and Canadian Institutions Listed by Fiscal Year 2012 Endowment Market Value and Percentage Change* in Endowment Market Value from FY 2011 to FY 2012
*Note: The percentage change does NOT represent the rate of return for the institutions investments. Rather, the percentage change in the market value of an endowment from FY 2011 to FY 2012 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses. Rank 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 Institution Harvard University Yale University University of Texas System Stanford University Princeton University Massachusetts Institute of Technology University of Michigan Columbia University Texas A&M University System & Foundations i Northwestern University University of Pennsylvania University of Chicago University of Notre Dame University of California Duke University Emory University Washington University in St. Louis Cornell University University of Virginia Rice University University of Southern California Dartmouth College Vanderbilt University New York University University of Pittsburgh Johns Hopkins University University of Minnesota & Foundations ii Brown University Ohio State University University of North Carolina at Chapel Hill & Foundations University of Washington Purdue University University of Richmond University of Wisconsin Foundation Williams College Pennsylvania State University California Institute of Technology Pomona College University of Illinois & Foundation iii Rockefeller University Boston College State/ Province MA CT TX CA NJ MA MI NY TX IL PA IL IN CA NC GA MO NY VA TX CA NH TN NY PA MD MN RI OH NC WA IN VA WI MA PA CA CA IL NY MA 2012 Endowment Funds ($000s) 30,435,375 19,345,000 18,263,850 17,035,804 16,954,128 10,149,564 7,691,052 7,654,152 7,638,555 7,118,595 6,754,658 6,570,875 6,329,866 5,962,906 5,555,196 5,461,158 5,225,992 4,946,954 4,788,852 4,418,595 3,488,933 3,486,383 3,399,293 2,755,000 2,618,436 2,593,316 2,494,050 2,460,131 2,366,033 2,179,177 2,111,332 1.916,968 1,868,083 1,812,056 1,799,377 1,779,958 1,746,526 1,679,640 1,667,397 1,661,571 1,645,900 2011 Endowment Funds ($000) 31,728,080 19,374,000 17,148,649 16,502,606 17,109,508 9,712,628 7,834,752 7,789,579 6,999,517 7,182,745 6,582,029 6,575,126 6,259,598 6,342,217 5,747,377 5,400,367 5,280,143 5,059,406 4,760,515 4,451,452 3,517,173 3,413,406 3,414,514 2,827,000 2,527,398 2,598,467 2,503,305 2,653,514 2,120,714 2,260,970 2,154,494 2,001,601 1,877,193 1,872,933 1,784,305 1,725,138 1,772,369 1,700,454 1,600,603 1,746,363 1,726,100 *Percentage Change (%) -4.1 -0.1 6.5 3.2 -0.9 4.5 -1.8 -1.7 9.1 -0.9 2.6 -0.1 1.1 -6.0 -3.3 1.1 -1.0 -2.2 0.6 -0.7 -0.8 2.1 -0.4 -2.5 3.6 -0.2 -0.4 -7.3 11.6 -3.6 -2.0 -4.2 -0.5 -3.3 0.8 3.2 -1.5 -1.2 4.2 -4.9 -4.6

Copyright 2013 National Association of College and University Business Officers and Commonfund Institute.

U.S. and Canadian Institutions Listed by Fiscal Year 2012 Endowment Market Value and Percentage Change* in Endowment Market Value from FY 2011 to FY 2012
*Note: The percentage change does NOT represent the rate of return for the institutions investments. Rather, the percentage change in the market value of an endowment from FY 2011 to FY 2012 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses. Rank 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 Institution Amherst College Georgia Institute of Technology & Foundations Case Western Reserve University University of Rochester Indiana University & Foundation Swarthmore College University of Toronto# Wellesley College Smith College Michigan State University Grinnell College Tufts University UCLA Foundation George Washington University University of Florida Foundation, Inc. Washington and Lee University University of Nebraska Kansas University Endowment Association Texas Christian University Southern Methodist University University of Oklahoma University of Missouri System Georgetown University Boston University UC Berkeley Foundation University of Delaware Yeshiva University Lehigh University University of British Columbia# Wake Forest University Carnegie Mellon University University of Alabama System University of Iowa & Foundation University of Cincinnati Baylor University Tulane University McGill University# Berea College Syracuse University State/ Province MA GA OH NY IN PA ON MA MA MI IA MA CA DC FL VA NE KS TX TX OK MO DC MA CA DE NY PA BC NC PA AL IA OH TX LA QC KY NY 2012 Endowment Funds ($000) 1,640,666 1,608,248 1,600,013 1,581,773 1,576,615 1,498,775 1,485,927 1,444,613 1,409,755 1,407,483 1,383,856 1,351,166 1,331,408 1,305,892 1,263,277 1,261,553 1,215,402 1,182,333 1,180,481 1,177,176 1,172,463 1,171,758 1,141,752 1,103,652 1,089,411 1,087,870 1,054,052 1,035,593 1,029,199 1,000,133 987,054 986,495 981,104 976,814 964,161 960,972 957,968 942,618 940,056 2011 Endowment Funds ($000) 1,641,511 1,619,719 1,703,165 1,622,812 1,574,815 1,508,483 1,599,134 1,499,872 1,439,485 1,400,380 1,500,219 1,403,883 1,486,244 1,331,101 1,295,313 1,218,132 1,241,577 1,250,443 1,193,790 1,196,508 1,212,023 1,119,032 1,160,291 1,159,583 1,053,661 1,138,204 1,069,642 1,077,430 1,149,367 1,032,452 1,017,338 995,147 1,044,097 1,004,368 1,003,929 1,014,985 993,107 978,735 913,662 *Percentage Change (%) -0.1 -0.7 -6.1 -2.5 0.1 -0.6 -7.1 -3.7 -2.1 0.5 -7.8 -3.8 -10.4 -1.9 -2.5 3.6 -2.1 -5.4 -1.1 -1.6 -3.3 4.7 -1.6 -4.8 3.4 -4.4 -1.5 -3.9 -10.5 -3.1 -3.0 -0.9 -6.0 -2.7 -4.0 -5.3 -3.5 -3.7 2.9

Copyright 2013 National Association of College and University Business Officers and Commonfund Institute.

U.S. and Canadian Institutions Listed by Fiscal Year 2012 Market Value of Endowment Assets and Percentage Change* in Endowment Market Value from FY 2011 to FY 2012
*Note: The percentage change does NOT represent the rate of return for the institutions investments. Rather, the percentage change in the market value of an endowment from FY 2011 to FY 2012 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses. Rank 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 Institution Trinity University (TX) Bowdoin University University of Kentucky Middlebury College Texas Tech University System Princeton Theological Seminary Saint Louis University The Brookings Institution University of Tennessee System Berry College, Inc. University of Maryland Foundation, Inc. Vassar College Carnegie Institution of Washington Baylor College of Medicine University of Tulsa University of Colorado Foundation University of Arkansas, Fayetteville University of Alberta# University of Georgia Foundation Washington State University University of Louisville Foundation Rutgers, the State University of New Jersey Santa Clara University Colgate University University of Miami University of California, San Francisco Foundation Oklahoma State University & Foundation Oberlin College Brandeis University University of Utah LSU System University of Houston System & Foundations Denison University Carleton College Bryn Mawr College College of William and Mary & Foundations Cooper Union NC State University & Related Foundations Hamilton College Macalester College+ Rochester Institute of Technology Pepperdine University State/ Province TX ME KY VT TX NJ MO DC TN GA MD NY DC TX OK CO AR AB GA WA KY NJ CA NY FL CA OK OH MA UT LA TX OH MN PA VA NY NC NY MN NY CA 2012 Endowment Funds ($000) 908,416 902,364 900,158 879,690 869,006 867,626 852,842 844,203 826,701 813,969 812,871 804,912 794,882 789,997 784,546 771,320 770,550 764,569 744,305 737,409 726,244 693,515 688,118 687,344 678,694 675,180 675,030 674,587 674,522 670,411 665,764 652,106 645,851 645,654 645,426 644,233 641,324 635,326 635,235 634,526 627,786 607,953 2011 Endowment Funds ($000) 854,895 904,215 915,924 907,668 890,930 914,713 880,251 275,357 848,329 752,544 791,809 814,130 792,211 838,481 800,925 784,580 788,668 815,274 745,765 722,717 772,157 698,507 716,821 693,436 719,852 643,107 681,744 699,895 703,666 668,683 672,790 662,984 654,584 653,465 671,103 624,726 607,135 617,632 657,529 654,230 639,673 604,635 *Percentage Change (%) 6.3 -0.2 -1.7 -3.1 -2.5 -5.1 -3.1 206.6 -2.5 8.2 2.7 -1.1 0.1 -5.8 -2.0 -1.7 -2.3 -6.2 -0.2 2.0 -5.9 -0.7 -4.0 -0.9 -5.7 5.0 -1.0 -3.6 -4.1 0.3 -1.0 -1.6 -1.3 -1.2 -3.8 3.1 5.6 2.9 -3.4 -3.0 -1.9 0.5

Copyright 2013 National Association of College and University Business Officers and Commonfund Institute.

U.S. and Canadian Institutions Listed by Fiscal Year 2012 Market Value of Endowment Assets and Percentage Change* in Endowment Market Value from FY 2011 to FY 2012
*Note: The percentage change does NOT represent the rate of return for the institutions investments. Rather, the percentage change in the market value of an endowment from FY 2011 to FY 2012 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses. Rank 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 Institution Iowa State University & Foundation Wesleyan University Colby College Bucknell University Loma Linda University Queens University# Virginia Tech Foundation The Principia Corporation College of the Holy Cross Rensselaer Polytechnic Institute Mount Holyoke College Northeastern University University of Massachusetts Foundation, Inc. University of Arizona & Foundation Lafayette College Drexel University Furman University Colorado College Claremont McKenna College University of South Carolina System & Foundations Davidson College University at Buffalo Foundation, Inc. Arizona State University & Foundation American University of Beirut McMaster University# Florida State University Foundation University of Calgary# Fordham University University System of New Hampshire & Foundations iv American University in Cairo DePauw University Clemson University & Foundation University of Oregon Foundation Medical College of Wisconsin, Inc. University of Mississippi Foundation Auburn University & Foundation Howard University Rush University Medical Center Oklahoma State Regents for Higher Education Reed College Virginia Commonwealth University Oregon Health and Science University Foundation State/ Province IA CT ME PA CA ON VA MO MA NY MA MA MA AZ PA PA SC CO CA SC NC NY AZ NY ON FL AB NY NH NY IN SC OR WI MS AL DC IL OK OR VA OR 2012 Endowment Funds ($000) 604,897 600,529 599,557 599,216 597,669 595,627 594,776 593,054 589,769 583,350 582,623 566,767 565,092 563,655 556,918 555,381 550,266 533,206 520,583 513,936 511,393 511,020 500,667 498,982 498,427 497,709 491,957 491,585 490,080 485,000 483,047 482,866 477,599 470,510 461,913 461,727 460,712 457,217 447,484 439,705 438,140 433,288 2011 Endowment Funds ($000) 612,283 589,811 611,441 575,367 552,452 633,784 600,648 679,232 607,712 621,916 602,481 588,400 529,262 552,351 559,797 525,211 572,162 541,998 543,236 494,358 509,583 494,791 514,724 415,924 521,307 525,260 511,495 457,980 362,547 480,000 500,921 473,748 467,211 487,921 469,006 471,851 523,411 463,028 442,985 398,583 349,699 455,721 *Percentage Change (%) -1.2 1.8 -1.9 4.1 8.2 -6.0 -1.0 -12.7 -3.0 -6.2 -3.3 -3.7 6.8 2.0 -0.5 5.7 -3.8 -1.6 -4.2 4.0 0.4 3.3 -2.7 20.0 -4.4 -5.2 -3.8 7.3 35.2 1.0 -3.6 1.9 2.2 -3.6 -1.5 -2.1 -12.0 -1.3 1.0 10.3 25.3 -4.9

Copyright 2013 National Association of College and University Business Officers and Commonfund Institute.

U.S. and Canadian Institutions Listed by Fiscal Year 2012 Market Value of Endowment Assets and Percentage Change* in Endowment Market Value from FY 2011 to FY 2012
*Note: The percentage change does NOT represent the rate of return for the institutions investments. Rather, the percentage change in the market value of an endowment from FY 2011 to FY 2012 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses. Rank 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 Institution Trinity College American University West Virginia University Foundation, Inc. Ohio University & Foundation Loyola University of Chicago Marquette University Oregon State University Foundation National University Whitman College University of Dayton Haverford College Miami University Foundation University of Manitoba# University of Denver (Colorado Seminary) UC San Diego Foundation Creighton University Villanova University Dalhousie University# Lebanese American University Loyola Marymount University University of St. Thomas (MN) Worcester Polytechnic Institute St. Johns University DePaul University University of San Diego Mississippi State University & Foundation University of New Mexico & Foundation Franklin W. Olin College of Engineering Miami Dade College Rollins College University of South Florida Foundation St. Olaf College Occidental College Kansas State University Foundation University of Wisconsin System Dickinson College University of Vermont & State Agricultural College University of Wyoming Foundation Wabash College Earlham College University of the South State/ Province CT DC WV OH IL WI OR CA WA OH PA OH MB CO CA NE PA NS NY CA MN MA NY IL CA MS NM MA FL FL FL MN CA KS WI PA VT WY IN IN TN 2012 Endowment Funds ($000) 422,513 419,500 417,504 408,987 408,036 407,040 403,606 402,954 400,968 397,794 387,564 387,222 383,672 373,395 371,109 368,787 366,106 364,597 362,161 361,096 358,847 358,640 350,486 349,234 345,593 343,857 343,321 338,212 336,106 334,745 334,132 333,460 330,720 329,240 327,854 325,684 325,555 325,456 324,996 324,381 318,951 2011 Endowment Funds ($000) 416,528 421,000 392,001 336,000 390,394 401,208 411,964 400,663 395,840 414,504 402,730 403,070 390,957 345,214 378,506 375,221 370,292 382,130 366,943 374,438 371,938 374,430 359,494 348,255 326,821 346,676 349,145 369,065 348,686 349,115 349,320 342,729 342,393 337,460 341,718 326,551 343,050 321,781 340,720 328,455 318,710 *Percentage Change (%) 1.4 -0.4 6.5 21.7 4.5 1.5 -2.0 0.6 1.3 -4.0 -3.8 -3.9 -1.9 8.2 -2.0 -1.7 -1.1 -4.6 -1.3 -3.6 -3.5 -4.2 -2.5 0.3 5.7 -0.8 -1.7 -8.4 -3.6 -4.1 -4.3 -2.7 -3.4 -2.4 -4.1 -0.3 -5.1 1.1 -4.6 -1.2 0.1

Copyright 2013 National Association of College and University Business Officers and Commonfund Institute.

U.S. and Canadian Institutions Listed by Fiscal Year 2012 Market Value of Endowment Assets and Percentage Change* in Endowment Market Value from FY 2011 to FY 2012
*Note: The percentage change does NOT represent the rate of return for the institutions investments. Rather, the percentage change in the market value of an endowment from FY 2011 to FY 2012 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses. Rank 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 Institution Union College Michigan State University Foundation Wheaton College (IL) University of Connecticut & Foundations University of Toledo & Foundation Clark University Spelman College Hofstra University University of California, Irvine Foundation Abilene Christian University Medical College of Virginia Foundation College of the Ozarks Rhode Island School of Design University of Victoria Foundation# Franklin & Marshall College University of South Alabama Foundation Skidmore College Temple University VMI Foundation Inc. Quinnipiac University Rhodes College University of Alaska & Foundation Scripps College Loyola University New Orleans Simon Fraser University# Southwestern University University of Puget Sound Berklee College of Music Wayne State University Fairfield University Johnson & Wales University Catholic University of America Medical University of South Carolina Foundation Agnes Scott College University of Nevada, Reno Foundation and Athletic Association Babson College Bradley University Hampton University The College of Wooster St. Lawrence University Gettysburg College State/ Province NY MI IL CT OH MA GA NY CA TX VA MO RI BC PA AL NY PA VA CT TN AK CA LA BC TX WA MA MI CT RI DC SC GA NV MA IL VA OH NY PA 2012 Endowment Funds ($000) 316,818 313,617 312,802 311,331 310,914 309,755 309,139 308,640 300,220 299,110 298,225 298,049 297,207 291,362 285,108 283,761 283,059 277,479 272,298 272,088 271,509 263,983 256,997 253,369 252,744 250,623 250,468 248,371 247,111 245,284 240,317 239,500 239,472 239,288 238,286 237,538 236,435 232,551 232,076 230,276 229,115 2011 Endowment Funds ($000) 321,902 317,721 322,603 312,329 197,374 320,453 326,929 274,262 301,211 299,109 256,462 330,524 318,678 304,940 303,321 283,496 299,365 280,731 300,372 277,466 283,372 257,781 266,869 266,205 255,984 268,983 251,291 245,068 251,309 254,004 246,444 225,081 230,286 257,860 235,404 241,367 241,941 240,014 247,480 239,822 237,706 *Percentage Change (%) -1.6 -1.3 -3.0 -0.3 57.5 -3.3 -5.4 12.5 -0.3 0.0 16.3 -9.8 -6.7 -4.5 -6.0 0.1 -5.4 -1.2 -9.3 -1.9 -4.2 2.4 -3.7 -4.8 -1.3 -6.8 -0.3 1.3 -1.7 -3.4 -2.5 6.4 4.0 -7.2 1.2 -1.6 -2.3 -3.1 -6.2 -4.0 -3.6

Copyright 2013 National Association of College and University Business Officers and Commonfund Institute.

U.S. and Canadian Institutions Listed by Fiscal Year 2012 Market Value of Endowment Assets and Percentage Change* in Endowment Market Value from FY 2011 to FY 2012
*Note: The percentage change does NOT represent the rate of return for the institutions investments. Rather, the percentage change in the market value of an endowment from FY 2011 to FY 2012 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses. Rank 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 Institution Harvey Mudd College Colorado State University Foundation University of Maryland College Park Foundation, Inc. Seton Hall University Barnard College Bates College University of Hawaii Foundation Connecticut College Utah State University Nevada System of Higher Education v Youngstown State University Foundation University of San Francisco Centre College of Kentucky University of Saskatchewan# Williamette University The New School UC Davis Foundation Western Michigan University Foundation Colorado School of Mines Foundation, Inc. The Citadel Ithaca College Carleton University# University of the Pacific Wichita State University Foundation University of Memphis UNC at Greensboro Investment Fund, Inc. Lawrence University of Wisconsin Bentley University Mercer University Drew University Illinois Wesleyan University University of Idaho Foundation, Inc. Chapman University Lewis & Clark College Kenyon College Goucher College New Mexico State University & Foundation Regent University Philadelphia College of Osteopathic Medicine Illinois Institute of Technology University of Ottawa# State/ Province CA CO MD NJ NY ME HI CT UT NV OH CA KY SK OR NY CA MI CO SC NY ON CA KS TN NC WI MA GA NJ IL ID CA OR OH MD NM VA PA IL ON 2012 Endowment Funds ($000) 225,509 225,362 225,053 224,532 216,447 216,156 211,970 211,151 209,188 208,000 207,000 206,605 206,169 205,312 205,186 204,783 204,131 204,124 204,083 203,989 202,870 201,785 200,467 199,316 198,362 198,036 194,312 192,708 191,665 190,616 189,764 188,511 188,070 186,616 184,782 183,717 181,134 181,046 180,919 180,231 180,022 2011 Endowment Funds ($000) 243,125 221,231 225,257 231,734 218,478 231,451 215,119 212,622 208,986 217,000 189,916 213,177 212,957 215,544 226,567 216,082 201,135 198,436 196,068 208,456 208,913 250,851 212,176 208,667 195,060 204,577 214,651 199,966 196,964 194,344 185,785 192,003 190,612 201,610 179,923 188,336 186,737 193,921 162,281 194,206 187,095 *Percentage Change (%) -7.2 1.9 -0.1 -3.1 -0.9 -6.6 -1.5 -0.7 0.1 -4.1 9.0 -3.1 -3.2 -4.7 -9.4 -5.2 1.5 2.9 4.1 -2.1 -2.9 -19.6 -5.5 -4.5 1.7 -3.2 -9.5 -3.6 -2.7 -1.9 2.1 -1.8 -1.3 -7.4 2.7 -2.5 -3.0 -6.6 11.5 -7.2 -3.8

Copyright 2013 National Association of College and University Business Officers and Commonfund Institute.

U.S. and Canadian Institutions Listed by Fiscal Year 2012 Market Value of Endowment Assets and Percentage Change* in Endowment Market Value from FY 2011 to FY 2012
*Note: The percentage change does NOT represent the rate of return for the institutions investments. Rather, the percentage change in the market value of an endowment from FY 2011 to FY 2012 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses. Rank 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 Institution University of New Brunswick# UNLV Foundation Duquesne University Ohio Wesleyan University Florida Atlantic University Foundation, Inc. Kalamazoo College Saint Josephs University University of Akron & Foundation California Polytechnic State University & Foundation Old Dominion University Washington College Mills College Ball State University Foundation Columbia Theological Seminary Valparaiso University Rose-Hulman Institute of Technology Hobart and William Smith Colleges John Carroll University Simmons College Wheaton College (MA) Claremont Graduate University Clarkson University Hendrix College University of South Dakota Foundation Lesley University Loyola University Maryland Albion College Lycoming College SUNY, Stony Brook Foundation Hollins University Gallaudet University Drake University Universidad Interamericana de Puerto Rico, Inc. Wofford College Hope College Ohio Northern University Muhlenberg College Butler University University of Maine Foundation University of the Sciences in Philadelphia Stetson University, Inc. Stonehill College State/ Province NB NV PA OH FL MI PA OH CA VA MD CA IN GA IN IN NY OH MA MA CA NY AR SD MA MD MI PA NY VA DC IA PR SC MI OH PA IN ME PA FL MA 2012 Endowment Funds ($000) 178,768 177,697 177,211 175,871 172,231 169,496 168,834 168,657 168,372 168,087 167,178 165,768 165,450 165,132 163,530 163,278 161,338 159,892 159,647 159,484 158,491 158,330 157,993 157,953 156,354 156,122 156,008 155,222 155,172 154,465 152,163 151,994 151,453 151,173 150,928 150,035 149,467 149,004 148,298 147,781 147,683 146,702 2011 Endowment Funds ($000) 186,786 168,560 171,120 186,706 179,739 155,218 173,115 186,530 173,419 170,176 173,557 183,397 161,671 172,900 163,721 178,196 174,646 169,294 165,341 164,948 167,654 165,144 170,587 155,901 163,936 165,933 162,366 152,275 139,026 152,718 162,610 153,128 153,531 161,344 153,813 143,786 150,241 157,549 149,060 153,964 143,914 151,226 *Percentage Change (%) -4.3 5.4 3.6 -5.8 -4.2 9.2 -2.5 -9.6 -2.9 -1.2 -3.7 -9.6 2.3 -4.5 -0.1 -8.4 -7.6 -5.6 -3.4 -3.3 -5.5 -4.1 -7.4 1.3 -4.6 -5.9 -3.9 1.9 11.6 1.1 -5.8 -0.7 -1.4 -6.3 -1.9 4.3 -0.5 -5.4 -0.5 -4.0 2.6 -3.0

Copyright 2013 National Association of College and University Business Officers and Commonfund Institute.

U.S. and Canadian Institutions Listed by Fiscal Year 2012 Market Value of Endowment Assets and Percentage Change* in Endowment Market Value from FY 2011 to FY 2012
*Note: The percentage change does NOT represent the rate of return for the institutions investments. Rather, the percentage change in the market value of an endowment from FY 2011 to FY 2012 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses. Rank 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 Institution Allegheny College Bryant University St. Johns University (MN) Rowan University Foundation University of North Dakota Foundation Stevens Institute of Technology University of South Alabama Washburn University Foundation San Diego State University University of North Carolina at Charlotte Randolph College St. Marys University of San Antonio, TX University of Montana Foundation Florida International University Foundation, Inc. Elon University California State University Fresno Foundation Asbury Theological Seminary Bowling Green State University Foundation, Inc. Hampden-Sydney College Suffolk University Hanover College Transylvania University East Carolina University Mennonite Education Agency Investment Fund LLC Illinois College University of Scranton St. Johns College-Annapolis & Santa Fe vi Messiah College University of Central Florida (UCF) Foundation, Inc. Saint Marys College of California Gonzaga University Pace University Saint Marys College, Notre Dame, IN Montana State University Foundation, Inc. Susquehanna University Austin College Randolph-Macon College Texas State University-San Marcos Luther College Le Moyne College Medical College of Georgia Foundation, Inc. Xavier University State/ Province PA RI MN NJ ND NJ AL KS CA NC VA TX MT FL NC CA KY OH VA MA IN KY NC IN IL PA MD PA FL CA WA NY IN MT PA TX VA TX IA NY GA OH 2012 Endowment Funds ($000) 146,516 141,803 141,510 140,542 140,260 140,236 140,000 137,477 136,408 136,067 135,271 134,369 133,008 132,554 131,212 129,448 129,445 129,430 128,988 128,935 127,858 127,771 127,681 127,417 126,041 125,154 124,888 123,841 122,609 122,591 122,378 121,762 119,910 119,821 119,543 119,457 118,586 118,570 118,131 117,867 117,426 117,353 2011 Endowment Funds ($000) 153,505 148,715 144,114 142,999 122,283 144,042 132,000 142,790 135,191 140,913 149,230 146,361 136,310 135,996 120,491 127,293 137,246 141,788 131,304 128,044 137,301 124,764 128,551 138,636 124,899 131,881 129,942 130,236 125,669 128,905 121,220 124,109 127,990 115,687 115,854 124,895 120,319 119,711 116,745 122,975 121,259 119,509 *Percentage Change (%) -4.6 -4.6 -1.8 -1.7 14.7 -2.6 6.1 -3.7 0.9 -3.4 -9.4 -8.2 -2.4 -2.5 8.9 1.7 -5.7 -8.7 -1.8 0.7 -6.9 2.4 -0.7 -8.1 0.9 -5.1 -3.9 -4.9 -2.4 -4.9 1.0 -1.9 -6.3 3.6 3.2 -4.4 -1.4 -1.0 1.2 -4.2 -3.2 -1.8

Copyright 2013 National Association of College and University Business Officers and Commonfund Institute.

U.S. and Canadian Institutions Listed by Fiscal Year 2012 Market Value of Endowment Assets and Percentage Change* in Endowment Market Value from FY 2011 to FY 2012
*Note: The percentage change does NOT represent the rate of return for the institutions investments. Rather, the percentage change in the market value of an endowment from FY 2011 to FY 2012 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses. Rank 372 373 374 375 376 377 378 379 380 381 382 383 384 385 386 387 388 389 390 391 392 393 394 395 396 397 398 399 400 401 402 403 404 405 406 407 408 409 410 411 412 Institution Beloit College Mount Allison University# University of Mount Union Augustana College St. Louis College of Pharmacy Buena Vista University Baldwin Wallace University Roanoke College California Institute of Art Sacred Heart University University of North Texas System Meharry Medical College University of Hartford Georgia State University Foundation Gustavus Adolphus College Western Kentucky University & Foundations Pitzer College Columbia College Chicago UC Santa Barbara Foundation Lindenwood University Florida A&M University Foundation, Inc. Millikin University University of Portland St. Ambrose University Ursinus College University of Redlands Washington and Jefferson College Hardin-Simmons University Austin Presbyterian Theological Seminary Saint Anselm College Culinary Institute of America North Dakota State University Development Foundation East Tennessee State University Harding University, Inc. Whitworth University University of Incarnate Word Pratt Institute Alma College UC Riverside Foundation Goshen College Elmhurst College State/ Province WI NB OH IL MO IA OH VA CA CT TX TN CT GA MN KY CA IL CA MO FL IL OR IA PA CA PA TX TX NH NY ND TN AR WA TX NY MI CA IN IL 2012 Endowment Funds ($000) 116,521 116,450 116,402 115,912 115,572 114,246 113,889 113,871 113,190 112,728 112,594 112,455 112,389 112,140 111,472 111,043 110,203 109,160 109,022 108,946 107,743 105,514 105,449 105,247 105,149 103,849 103,817 103,262 101,659 101,494 101,105 100,561 100,112 99,123 98,870 98,163 97,600 96,531 95,234 94,011 93,968 2011 Endowment Funds ($000) 115,217 119,872 118,865 118,922 111,758 124,746 119,746 115,379 118,898 108,337 108,663 107,529 114,316 113,199 109,372 114,415 113,731 110,722 116,022 113,332 111,516 106,159 100,179 107,281 109,401 109,423 105,450 106,336 104,034 100,513 92,228 103,043 96,822 101,537 99,247 89,219 99,014 100,964 96,644 99,291 96,127 *Percentage Change (%) 1.1 -2.9 -2.1 -2.5 3.4 -8.4 -4.9 -1.3 -4.8 4.1 3.6 4.6 -1.7 -0.9 1.9 -2.9 -3.1 -1.4 -6.0 -3.9 -3.4 -0.6 5.3 -1.9 -3.9 -5.1 -1.5 -2.9 -2.3 1.0 9.6 -2.4 3.4 -2.4 -0.4 10.0 -1.4 -4.4 -1.5 -5.3 -2.2

Copyright 2013 National Association of College and University Business Officers and Commonfund Institute.

U.S. and Canadian Institutions Listed by Fiscal Year 2012 Market Value of Endowment Assets and Percentage Change* in Endowment Market Value from FY 2011 to FY 2012
*Note: The percentage change does NOT represent the rate of return for the institutions investments. Rather, the percentage change in the market value of an endowment from FY 2011 to FY 2012 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses. Rank 413 414 415 416 417 418 419 420 421 422 423 424 425 426 427 428 429 430 431 432 433 434 435 436 437 438 439 440 441 442 443 444 445 446 447 448 449 450 451 452 453 454 Institution Northern Arizona University Foundation University of Rhode Island Columbia College Southern Illinois University Foundation Millsaps College Moravian College Wittenberg University Doane College University of Chattanooga Foundation Cottey College North Central College Louisville Presbyterian Theological Seminary McDaniel College Webster University Westminster College (Pennsylvania) University of the Ozarks College of Idaho Ouachita Baptist University Alfred University Canisius College Sweet Briar College Knox College Illinois State University Foundation Queens University of Charlotte Coe College Marshall University Foundation, Inc. Saint Francis Xavier University# Central Michigan University Franklin College Emory & Henry College Presbyterian College Juniata College Biola University Assumption College Texas Lutheran University Concordia College Long Island University Linfield College McCormick Theological Seminary Monmouth College (Illinois) Whittier College Oklahoma City University State/ Province AZ RI MO IL MS PA OH NE TN MO IL KY MD MO PA AR ID AR NY NY VA IL IL NC IA WV NS MI IN VA SC PA CA MA TX MN NY OR IL IL CA OK 2012 Endowment Funds ($000) 93,753 93,659 93,482 93,347 91,629 91,586 90,879 90,341 90,176 90,051 89,942 89,365 88,364 87,609 87,205 86,793 86,456 86,354 85,945 85,478 84,725 84,363 84,318 84,049 84,023 83,119 82,080 81,027 79,997 79,931 79,883 79,378 79,330 79,159 78,957 78,695 78,325 78,107 77,883 77,726 77,659 77,121 2011 Endowment Funds ($000) 91,700 93,659 81,616 96,817 96,107 91,490 96,083 90,405 94,602 95,652 93,440 88,000 88,841 84,921 90,035 90,917 91,810 89,359 89,706 88,527 93,811 84,085 88,600 83,267 77,851 83,810 85,919 85,267 79,857 83,421 79,726 76,871 74,578 81,320 80,477 84,727 84,292 81,346 85,137 73,641 77,249 79,791 *Percentage Change (%) 2.2 -0.1 14.5 -3.6 -4.7 0.1 -5.4 -0.1 -4.7 -5.9 -3.7 1.6 -0.5 3.2 -3.3 -4.5 -5.8 -3.4 -4.2 -3.4 -9.7 0.3 -4.8 0.9 7.9 -0.8 -4.5 -5.0 0.2 -4.2 0.2 3.3 6.4 -2.7 -1.9 -7.1 -7.1 -4.0 -8.5 5.5 0.5 -3.3

Copyright 2013 National Association of College and University Business Officers and Commonfund Institute.

U.S. and Canadian Institutions Listed by Fiscal Year 2012 Market Value of Endowment Assets and Percentage Change* in Endowment Market Value from FY 2011 to FY 2012
*Note: The percentage change does NOT represent the rate of return for the institutions investments. Rather, the percentage change in the market value of an endowment from FY 2010 to FY 2011 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses. Rank 455 456 457 458 459 460 461 462 463 464 465 466 467 468 469 470 471 472 473 474 475 476 477 478 479 480 481 482 483 484 485 486 487 488 489 490 491 492 493 494 495 496 Institution Michigan Technological University Belmont University Wright State University Foundation, Inc. South Dakota State University Weber State University University of North Florida Foundation, Inc. Meredith College San Jose State University & Tower Foundation Roosevelt University Wentworth Institute of Technology New Jersey Institute of Technology Lynchburg College Drury University Grand Valley State University Northern Kentucky University Foundation, Inc. Hamline University of Minnesota Pacific Lutheran University St. Norbert College John Brown University Widener University Appalachian State University & Foundation Niagara University La Salle University University of Northern Colorado Foundation Lake Forest College University of Indianapolis University of Evansville Chatham University Boise State University Foundation, Inc. Westmont College Saint Michaels College Oklahoma Christian University Simpson College University of Dubuque Indiana Wesleyan University Northwood University Central College Palm Beach Atlantic University Taylor University Sarah Lawrence College Wilson College Emporia State University Foundation, Inc. State/ Province MI TN OH SD UT FL NC CA IL MA NJ VA MO MI KY MN WA WI AR PA NC NY PA CO IL IN IN PA ID CA VT OK IA IA IN MI IA FL IN NY PA KS 2012 Endowment Funds ($000) 76,548 75,978 75,369 75,090 74,923 74,889 74,828 74,813 74,426 74,417 74,248 74,074 74,067 73,788 73,621 73,462 73,220 72,956 72,800 72,640 72,183 72,152 71,685 71,498 71,101 70,880 70,537 70,353 70,281 70,245 69,719 69,110 69,015 68,734 68,126 68,118 67,648 67,529 67,505 67,438 67,366 67,291 2011 Endowment Funds ($000) 78,699 76,010 77,081 72,181 75,217 77,414 79,519 73,100 78,675 77,478 74,978 78,283 77,526 74,106 69,115 74,041 75,369 72,286 61,894 78,681 69,551 77,510 74,227 76,493 70,653 72,857 74,910 72,894 72,507 68,278 71,232 65,058 71,397 72,364 68,655 69,390 73,053 67,320 73,119 74,225 71,440 67,569 *Percentage Change (%) -2.7 0.0 -2.2 4.0 -0.4 -3.3 -5.9 2.3 -5.4 -4.0 -1.0 -5.4 -4.5 -0.4 6.5 -0.8 -2.9 0.9 17.6 -7.7 3.8 -6.9 -3.4 -6.5 0.6 -2.7 -5.8 -3.5 -3.1 2.9 -2.1 6.2 -3.3 -5.0 -0.8 -1.8 -7.4 0.3 -7.7 -9.1 -5.7 -0.4

Copyright 2013 National Association of College and University Business Officers and Commonfund Institute.

U.S. and Canadian Institutions Listed by Fiscal Year 2012 Market Value of Endowment Assets and Percentage Change* in Endowment Market Value from FY 2011 to FY 2012
*Note: The percentage change does NOT represent the rate of return for the institutions investments. Rather, the percentage change in the market value of an endowment from FY 2011 to FY 2012 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses. 2012 2011 *Percentage State/ Endowment Endowment Change Rank Institution Funds Funds Province (%) ($000) ($000) 497 Morehouse School of Medicine GA 66,925 72,916 -8.2 498 Franklin University OH 66,791 64,761 3.1 499 University of St. Thomas (TX) TX 66,346 62344 6.4 500 Guilford College NC 65,932 67,656 -2.5 501 University of North Carolina Wilmington NC 65,928 62,826 4.9 502 York College of Pennsylvania PA 65,737 68,506 -4.0 503 St. Francis College NY 65,357 67,364 -3.0 504 Valencia College & Foundation FL 64,981 71,011 -8.5 505 Brite Divinity School TX 64,941 72,064 -9.9 506 Emmanuel College MA 64,685 64,501 0.3 507 Middle Tennessee State University TN 64,668 64,570 0.2 508 Oregon University System OR 64,624 66,278 -2.5 509 The Foundation of SUNY at Binghamton, Inc. NY 64,577 66,804 -3.3 510 Wagner College NY 64,355 64,443 -0.1 511 Converse College SC 64,202 68,518 -6.3 512 Maryland Institute College of Art MD 64,201 67,059 -4.3 513 Mercy College NY 64,043 31,114 105.8 514 Kettering University MI 63,760 66,443 -4.0 515 Broward College Foundation, Inc. FL 63,731 70,439 -9.5 516 Cornell College IA 63,667 65,046 -2.1 517 California State University Northridge CA 63,640 67,905 -6.3 518 Bridgewater College VA 62,823 63,735 -1.4 519 Ripon College WI 62,251 62,343 -0.1 520 McMurry University TX 62,220 62,903 -1.1 521 Hood College of Frederick MD MD 62,064 63,440 -2.2 522 University of Southern Mississippi Foundation MS 61,447 63,838 -3.7 523 Golden Gate University CA 61,244 59,824 2.4 524 Missouri State University Foundation MO 61,166 59,838 2.2 525 New York Medical College NY 61,148 62,836 -2.7 526 Marietta College OH 61,018 63,341 -3.8 527 Capital University OH 60,643 61,949 -2.1 528 Muskingum University OH 59,791 63,644 -6.1 529 SUNY Upstate Medical University NY 59,582 60.137 -0.9 530 James Madison University Foundation, Inc. VA 59,578 57,738 3.2 531 Tennessee Tech University TN 58,780 59,449 -1.1 532 Hiram College OH 58,736 62,655 -6.3 533 Westminster College UT 58,682 60,251 -2.6 534 Monmouth University NJ 58,591 59,928 -2.2 535 Warren Wilson College NC 58,018 51,940 11.7 536 Hartwick College NY 57,689 61,162 -5.7 537 Kings College PA 57,290 55,643 3.0 538 Pittsburg State University Foundation, Inc. KS 57,241 59,333 -3.5

Copyright 2013 National Association of College and University Business Officers and Commonfund Institute.

U.S. and Canadian Institutions Listed by Fiscal Year 2012 Market Value of Endowment Assets and Percentage Change in Endowment Market Value from FY 2011 to FY 2012
*Note: The percentage change does NOT represent the rate of return for the institutions investments. Rather, the percentage change in the market value of an endowment from FY 2011 to FY 2012 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses. 2012 2011 *Percentage State/ Endowment Endowment Change Rank Institution Funds Funds Province (%) ($000) ($000) 539 Manhattan College NY 56,904 55,846 1.9 540 Lipscomb University TN 56,747 59,577 -4.8 541 Moody Bible Institute IL 56,592 52,362 8.1 542 Eastern Illinois University Foundation IL 56,454 51,343 10.0 543 Nazareth College NY 55,587 56,715 -2.0 544 California State Polytechnic University, Pomona CA 55,580 49,984 11.2 545 Florida Southern College FL 55,474 54,581 1.6 546 Augustana College SD 54,986 56,671 -3.0 547 Oakland University MI 54,986 56,320 -2.4 548 Carthage College WI 54,832 51,870 5.7 549 Elizabethtown College PA 54,756 56,478 -3.0 550 Maryville College TN 54,222 54,451 -0.4 551 University of Arkansas Fort Smith Foundation, Inc. AR 53,576 53,199 -0.4 552 Eastern Virginia Medical School Foundation VA 53,320 46,011 15.9 553 California Lutheran University CA 53,110 55,139 -3.7 554 St. Edwards University TX 52,972 54,057 -2.0 555 Arcadia University PA 52,942 55,477 -4.6 556 Iona College NY 52,861 49,732 6.3 557 Shenandoah University VA 52,670 53,303 -1.2 558 LaGrange College GA 52,469 57,776 -9.2 559 Western Carolina University NC 52,455 46,578 12.6 560 Albright College PA 52,216 52,617 -0.8 561 Saginaw Valley State University Foundation MI 52,210 50,503 3.4 562 George Mason University Foundation, Inc. VA 51,846 51,608 0.5 563 Pacific University OR 51,255 53,272 -3.8 564 San Francisco State University Foundation vii CA 51,203 48,954 4.6 565 Northern Illinois University Foundation IL 51,135 49,890 2.5 566 Eastern Michigan University Foundation MI 50,562 47,101 7.3 567 Fort Hays State University Foundation KS 50,457 50,624 -0.3 568 Rider University NJ 50,287 52,520 -4.3 569 Montclair State University & Foundation NJ 52,978 51,525 -2.8 570 Schreiner University TX 50,083 51,921 -3.5 571 College of Central Florida Foundation Inc. FL 49,719 49,442 0.6 572 Seattle Pacific University WA 49,060 49,578 -1.0 573 Florida Institute of Technology FL 48,845 49,603 -1.5 574 Ana G. Mendez University System PR 48,788 48,952 -0.3 575 College of St. Scholastica, Inc. MN 48,750 48,136 1.3 576 St. Bonaventure University NY 48,655 47,097 3.3 577 Eastern Kentucky University Foundation KY 48,650 49,012 -0.7 578 Lamar University Foundation, Inc. TX 48,571 41,708 16.5 579 University of Northern British Columbia# BC 48,449 54,757 -11.5 580 Lebanon Valley College PA 47,827 49,249 -2.9

Copyright 2013 National Association of College and University Business Officers and Commonfund Institute.

U.S. and Canadian Institutions Listed by Fiscal Year 2012 Market Value of Endowment Assets and Percentage Change* in Endowment Market Value from FY 2011 to FY 2012
*Note: The percentage change does NOT represent the rate of return for the institutions investments. Rather, the percentage change in the market value of an endowment from FY 2011 to FY 2012 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses. 2012 2011 *Percentage State/ Endowment Endowment Change Rank Institution Funds Funds Province (%) ($000) ($000) 581 DeSales University PA 47,738 47,091 1.4 582 University of West Florida Foundation, Inc. FL 47,676 55,688 -14.4 583 Clark College Foundation WA 47,319 48,250 -1.9 584 Purchase College Foundation NY 47,155 46,208 2.1 585 Indiana University of Pennsylvania & Foundation viii PA 47,020 48,807 -3.7 586 Nebraska Wesleyan University NE 46,774 47,476 -1.5 587 Springfield College MA 46,532 46,119 0.9 588 Eckerd College FL 45,268 47,475 -4.6 589 Endicott College MA 44,884 38,697 16.0 590 Western Washington University Foundation WA 44,734 45,986 -2.7 591 Salve Regina University RI 44,393 43,715 1.6 592 California State University, Long Beach Foundation CA 44,084 46,269 -4.7 593 Birmingham-Southern College AL 43,636 52,256 -16.5 594 Wilkes University PA 43,423 44,829 -3.1 595 Keck Graduate Institute of Applied Life Sciences CA 43,308 44,581 -2.9 596 Longwood University Foundation, Inc. VA 43,228 42,314 2.2 597 Georgian Court University NJ 42,954 44,246 -2.9 598 Manchester University IN 42,936 42,884 0.1 599 Wheelock College MA 42,862 45,420 -5.6 600 Indiana State University Foundation, Inc. IN 42,472 45,966 -7.6 601 Mount St. Marys University MD 42,316 43,729 -3.2 602 College of Saint Benedict MN 42,224 43,378 -2.7 603 University Foundation, California State University Chico CA 42,174 43,021 -2.0 604 New York Chiropractic College NY 41,861 44,722 -6.4 605 Bethune-Cookman University FL 41,818 42,486 -1.6 606 Minnesota State University, Mankato MN 41,644 39,194 6.2 607 Carroll University WI 41,570 41,922 -0.8 608 Northwestern College IA 41,318 42,660 -3.1 609 Gannon University PA 41,278 40,418 2.1 610 Lewis University IL 40,830 39,831 2.5 611 Bellarmine University KY 40,393 42,300 -4.5 612 Friends University KS 40,294 41,686 -3.3 613 Indiana Institute of Technology IN 40,226 41,065 -2.0 614 William Peace University NC 40,111 43,563 -7.9 615 Portland State University Foundation OR 39,412 40,860 -3.5 616 Arkansas State University Foundation, Inc. AR 39,408 39,479 -0.2 617 Ferrum College VA 39,339 41,512 -5.2 618 Graceland University IA 38,751 41,445 -6.5 619 Morningside College IA 38,693 37,636 2.8 620 SUNY College at Oneonta Foundation Corporation NY 38,456 33,003 16.5 621 Columbus State University Foundation, Inc. GA 38,365 38,102 0.7 622 Georgia Southern University Foundation GA 38,197 39,918 -4.3

Copyright 2013 National Association of College and University Business Officers and Commonfund Institute.

U.S. and Canadian Institutions Listed by Fiscal Year 2012 Market Value of Endowment Assets and Percentage Change* in Endowment Market Value from FY 2011 to FY 2012
*Note: The percentage change does NOT represent the rate of return for the institutions investments. Rather, the percentage change in the market value of an endowment from FY 2011 to FY 2012 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses. Rank 623 624 625 626 627 628 629 630 631 632 633 634 635 636 637 638 639 640 641 642 643 644 645 646 647 648 649 650 651 652 653 654 655 656 657 658 659 660 661 662 663 Institution Houghton College Texas Southern University Tennessee State University Foundation Western New England University Asbury University Marywood University Hartford Seminary Rockhurst University University of La Verne Marlboro College Radford University Foundation, Inc. Cleveland Institute of Music High Point University University of Mary Washington Florida State College at Jacksonville Kentucky Community & Technical College System Jacksonville University Freed-Hardeman University University at Albany Foundation The Ferris Foundation Maryville University of St. Louis Sonoma State University Academic Foundation Fairleigh Dickinson University University of Charleston California State University, Fullerton Saint Francis University University of Wyoming San Francisco Conservatory of Music Troy University Foundation Delaware Valley College Shippensburg University Foundation College of Saint Rose Mary Baldwin College Harrisburg Area Community College McPherson College Viterbo University, Inc. Notre Dame of Maryland University Hampshire College Northampton County Area Community College Foundation Heidelberg University Brenau University State/ Province NY TX TN MA KY PA CT MO CA VT VA OH NC VA FL KY FL TN NY MI MO CA NJ WV CA PA WY CA AL PA PA NY VA PA KS WI MD MA PA OH GA 2012 Endowment Funds ($000) 38,144 37,962 37,897 37,786 37,696 37,688 37,453 37,417 37,359 37,191 37,027 36,725 36,365 36,201 35,810 35,726 35,399 35,228 35,190 35,183 35,054 35,018 34,904 34,700 34,277 34,159 33,074 33,032 32,873 32,844 32,069 31,925 31,874 31,769 31,545 31,527 31,292 31,103 30,296 30,102 30,044 2011 Endowment Funds ($000) 39,660 36,194 38,130 39,345 38,003 38,461 38,431 36,312 36,629 40,748 36,047 31,038 37,717 36,528 34,551 35,329 30,473 34,712 35,454 36,703 36,068 34,221 31,274 34,957 32,340 34,153 31,779 33,502 30,640 34,146 32,681 31,644 32,163 31,863 33,827 36,792 32,571 28,917 29,979 31,469 31,310 *Percentage Change (%) -3.8 4.9 -0.6 -4.0 -0.8 -2.0 -2.5 3.0 2.0 -8.7 2.7 18.3 -3.6 -0.9 3.6 1.1 16.2 3.1 -0.7 -4.1 -2.8 2.3 11.6 -0.7 6.0 0.0 4.1 -1.4 7.3 -3.8 -1.9 0.8 -0.9 -0.3 -6.7 -14.3 -3.9 7.6 1.1 -4.3 -4.0

Copyright 2013 National Association of College and University Business Officers and Commonfund Institute.

U.S. and Canadian Institutions Listed by Fiscal Year 2012 Endowment Market Value and Percentage Change* in Endowment Market Value from FY 2011 to FY 2012
*Note: The percentage change does NOT represent the rate of return for the institutions investments. Rather, the percentage change in the market value of an endowment from FY 2011 to FY 2012 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses. 2012 2011 *Percentage State/ Endowment Endowment Change Rank Institution Funds Funds Province (%) ($000) ($000) 664 Lasell College MA 29,988 29,775 0.7 665 Clarke University IA 29,898 30,689 -2.6 666 Augsburg College (MN) MN 29,778 33,268 -10.5 667 Barry University FL 29,714 26,812 10.8 668 Rivier University NH 29,280 29,261 0.1 669 College of Mount St. Joseph OH 29,090 27,440 6.0 670 Madonna University MI 28,949 28,983 -0.1 671 University of Central Missouri Foundation MO 28,889 27,826 3.8 672 Carroll College MT 28,706 23,654 21.4 673 Rocky Mountain College MT 28,522 28,365 0.6 674 Lamar University TX 28,364 27,738 2.3 675 University Foundation at Sacramento State CA 28,317 28,820 -1.7 676 National Louis University IL 28,218 29,343 -3.8 677 New College Foundation, Inc. FL 28,170 29,670 -5.1 678 Foundation for Santa Barbara City College CA 28,120 31,077 -9.5 679 North Carolina A&T State University NC 28,041 25,178 11.4 680 Western Illinois University Foundation IL 28,025 27,876 0.5 681 University of North Carolina at Asheville NC 27,723 27,054 2.5 682 Montana Tech Foundation MT 27,375 27,994 -2.2 683 Jamestown College ND 27,091 28,230 -4.0 684 Lawrence Technological University MI 26,973 29,123 -7.4 685 Thunderbird School of Global Management AZ 26,972 19,210 40.4 686 Graduate Theological Union CA 26,843 28,397 -5.5 687 Concordia University, St. Paul MN 26,777 25,220 6.2 688 Cazenovia College NY 26,204 27,671 -5.3 689 Sinclair Community College Foundation OH 26,193 26,042 0.6 690 Winston-Salem State University & Foundation NC 25,966 25,323 2.5 691 Rust College, Inc. MS 25,755 22,462 14.7 692 The Farone Foundation DC 25,617 24,341 5.2 693 Robert Morris University PA 25,465 26,185 -2.7 694 Misericordia University PA 25,434 24,807 2.5 695 SUNY Fredonia College Foundation NY 24,928 24,027 3.7 696 St. Marys of Maryland Foundation, Inc. MD 24,550 N/A N/A 697 Covenant College GA 24,389 25,392 -4.0 698 Ringling College of Art and Design FL 24,166 24,366 -0.8 699 Buffalo State College Foundation, Inc. NY 24,057 22,732 5.8 700 Virginia State University VA 24,002 22,574 6.3 701 Georgia Southwestern Foundation, Inc. GA 23,708 24,632 -3.7 702 Averett University VA 23,559 24,661 -4.5 703 Dominican University IL 23,319 24,315 -4.1 704 SUNY Cortland Foundation GA 23,195 21,620 7.3 705 Mercyhurst University PA 23,164 24,447 -5.3

Copyright 2013 National Association of College and University Business Officers and Commonfund Institute.

U.S. and Canadian Institutions Listed by Fiscal Year 2012 Endowment Market Value and Percentage Change* in Endowment Market Value from FY 2011 to FY 2012
*Note: The percentage change does NOT represent the rate of return for the institutions investments. Rather, the percentage change in the market value of an endowment from FY 2011 to FY 2012 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses. 2012 2011 *Percentage State/ Endowment Endowment Change Rank Institution Funds Funds Province (%) ($000) ($000) 706 Marymount University VA 22,957 23,083 -0.5 707 Ohio Dominican University OH 22,784 24,273 -6.1 708 Philadelphia University PA 22,564 23,091 -2.3 709 Mount Mercy University IA 22,387 20,851 7.4 710 Neumann University PA 22,293 21,766 2.4 711 Humboldt State University Advancement Foundation CA 22,270 22,007 1.2 712 Central Piedmont Community College Foundation, Inc. NC 22,119 23,157 -4.5 713 Shepherd University WV 22,078 20,578 7.3 714 University of Saint Joseph CT 21,663 21,406 1.2 715 West Chester University of Pennsylvania & Foundation ix PA 21,621 21,010 2.9 716 William Mitchell College of Law MN 21,543 21,536 0.0 717 Vaughn College of Aeronautics and Technology NY 21,463 21,343 0.6 718 Pacific Union College CA 21,285 23,362 -8.9 719 The Sage Colleges NY 20,990 20,972 0.1 720 Rhode Island College Foundation RI 20,833 21,013 -0.9 721 Eastern Mennonite University VA 20,828 21,438 -2.8 722 Huntington University IN 20,637 20,569 0.3 723 Loras College IA 20,557 20,476 0.4 724 Olivet Nazarene University IL 20,311 19,930 1.9 725 Trevecca Nazarene University TN 20,114 19,252 4.5 726 Mount Aloyius College PA 20,013 19,449 2.9 727 Utica College NY 20,006 20,197 -0.9 728 College of New Rochelle NY 19,902 21,941 -9.3 729 Alverno College WI 19,844 20,911 -5.1 730 Northland College WI 22,696 19,813 14.5 731 Cedarville University OH 19,792 20,272 -2.4 732 College of New Jersey Foundation, Inc. NJ 19,740 19,143 3.1 733 Culver-Stockton College MO 19,657 21,091 -6.8 734 Methodist University, Inc. NC 19,483 18,968 2.7 735 College of Saint Elizabeth NJ 19,432 20,932 -7.2 736 CSU San Bernardino Philanthropic Foundation CA 19,171 19,681 -2.6 737 Cedar Crest College PA 18,940 19,793 -4.3 738 Thomas M. Cooley Law School MI 18,847 18,479 2.0 739 California State University, Los Angeles CA 18,559 19,240 -3.5 740 American University in Bulgaria DC 18,554 17,387 6.7 741 Wisconsin Lutheran College, Inc. WI 18,553 19,892 -6.7 742 SUNY Potsdam College Foundation, Inc. NY 18,293 18,553 -1.4 743 Roberts Wesleyan College NY 18,197 16,433 10.7 744 Southern California College of Optometry CA 18,123 16,467 10.1 745 George Fox University OR 18,038 18,618 -3.1 746 St. Thomas University (FL) FL 18,005 18,621 -3.3 747 Golden Gate Baptist Theological Seminary CA 17,891 14,602 23.1

Copyright 2013 National Association of College and University Business Officers and Commonfund Institute.

U.S. and Canadian Institutions Listed by Fiscal Year 2012 Endowment Market Value and Percentage Change* in Endowment Market Value from FY 2011 to FY 2012
*Note: The percentage change does NOT represent the rate of return for the institutions investments. Rather, the percentage change in the market value of an endowment from FY 2011 to FY 2012 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses. Rank 748 749 750 751 752 753 754 755 756 757 758 759 760 761 762 763 764 765 766 767 768 769 770 771 772 773 774 775 776 777 778 779 780 781 782 783 784 785 786 787 788 789 Institution California State University Bakersfield Foundation Colorado Mesa University Foundation CSU San Marcos Foundation Walla Walla University Peirce College Fitchburg State University Spartanburg Methodist College Southern New Hampshire University Foothill De Anza Community College Grand View University Southern Illinois University Edwardsville Foundation Kutztown University Foundation, Inc. Fayetteville State University Tri-County Technical College Foundation, Inc. Regis College Pacific Northwest College of Art Defiance College California State University, Monterey Bay Plattsburgh College Foundation Empire State College Foundation Southern Connecticut State University Foundation, Inc. UW Oshkosh Foundation, Inc. Delta College Western Connecticut State University Ramapo College of New Jersey Northern Michigan University Clark State Community College & Foundation Austin Peay State University Foundation Oswego College Foundation, Inc. Lakeland College North Iowa Area Community College Foundation Fitchburg State University Foundation, Inc. Mount Ida College Alamo Community College District Spalding University Kalamazoo Valley Community College Foundation Schoolcraft College Foundation Shawnee State University Development Foundation California State University, Officer of the Chancellor Central Oregon Community College Foundation Saint Mary-of-the-Woods College McLennan Community College Foundation State/ Province CA CO CA WA PA MA SC NH CA IA IL PA NC SC MA OR OH CA NY NY CT WI MI CT NJ MI OH TN NY WI IA MA MA TX KY MI MI OH CA OR IN TX 2012 Endowment Funds ($000) 17,961 17,344 17,263 17,194 17,090 17,078 16,969 16,760 16,500 16,434 16,351 16,018 15,835 15,639 15,353 14,797 14,297 14,020 13,833 13,749 13,617 13,548 13,358 12,764 12,674 12,600 12,149 12,148 12,107 12,095 12,007 11,988 11,732 11,656 11,366 11,237 11,218 11,008 10,933 10,815 10,801 10,760 2011 Endowment Funds ($000) 17,887 13,817 17,921 17,660 16,717 13,812 17,944 16,523 13,830 15,514 16,375 15,076 15,081 15,877 14,821 14,531 14,737 13,022 14,075 14,406 13,691 13,660 13,897 12,811 11,832 13,370 12,301 11,912 11,514 12,082 11,508 10,502 11,727 11,901 11,517 11,373 10,659 11,557 11,181 10,946 11,049 9,650 *Percentage Change (%) 0.4 25.5 -3.7 -2.6 2.2 23.6 -5.4 1.4 19.3 5.9 -0.1 6.2 5.0 -1.5 3.6 1.8 -3.0 7.7 -1.7 -4.6 -0.5 -0.8 -3.9 -0.4 7.1 -5.8 -1.2 2.0 5.2 0.1 4.3 14.1 0.0 -2.1 -1.3 -1.2 5.2 -4.7 -2.2 -1.2 -2.2 11.5

Copyright 2013 National Association of College and University Business Officers and Commonfund Institute.

U.S. and Canadian Institutions Listed by Fiscal Year 2012 Endowment Market Value and Percentage Change* in Endowment Market Value from FY 2011 to FY 2012
*Note: The percentage change does NOT represent the rate of return for the institutions investments. Rather, the percentage change in the market value of an endowment from FY 2011 to FY 2012 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses. 2011 2012 *Percentage State/ Endowment Endowment Change Rank Institution Funds Funds Province (%) ($000) ($000) 790 Trinity Western University# BC 10,562 10,996 -3.9 791 LeTourneau University TX 10,511 10,029 4.8 792 Metropolitan College of New York NY 10,496 10,059 4.3 793 Cal State East Bay Educational Foundation CA 10,369 10,023 3.5 794 Pensacola State College Foundation, Inc. FL 10,355 10,084 2.7 795 Five Colleges, Inc. MA 10,209 10,617 -3.8 796 Florida Memorial University FL 10,183 9,759 4.3 797 Chaminade University of Honolulu HI 10,164 9,305 9.2 798 California State University Dominguez Hills Foundation CA 10,159 9,052 12.2 799 Dickinson State University Foundation ND 10,001 8,822 13.4 800 Keuka College NY 9,982 8,741 14.2 801 Weber State University Foundation UT 9,637 10,367 -7.0 802 The Foundation for Florida Gateway College, Inc. FL 9,588 9,674 -0.9 803 Virginia State University Foundation VA 9,288 8,127 14.3 804 California State University Stanislaus Foundation CA 9,232 10,518 -12.2 805 California State University, Channel Islands CA 9,226 9,890 -6.7 806 Olivet College MI 9,207 9,271 -0.7 807 University of Southern Nevada NV 9,156 9,766 -6.2 808 Spring Arbor University MI 8,963 9,512 -5.8 809 Briar Cliff University IA 8,919 9,453 -5.7 810 Boston Architectural College MA 8,674 8,688 -0.2 811 Holyoke Community College Foundation MA 8,427 8,680 -2.9 812 Western University of Health Sciences CA 8,424 8,845 -4.8 813 Pacific Lutheran Theological Seminary CA 8,159 8,054 1.3 814 Foundation for Reading Area Community College PA 7,867 7,693 2.3 815 Dakota State University SD 7,749 7,686 0.8 816 Skagit Valley College Foundation WA 7,621 7,594 0.4 817 Denver Seminary CO 7,562 6,967 8.5 818 Walsh College MI 7,307 6,023 21.3 819 Northeast State Community College TN 6,885 6,199 11.1 820 Austin Peay State University TN 6,818 6,742 1.1 821 Keystone College PA 6,741 7,166 -5.9 822 Oakton Community College Educational Foundation IL 6,468 7,195 -10.1 823 Cornerstone University MI 6,387 N/A N/A 824 Pellissippi State Community College Foundation TN 5,917 5,694 3.9 825 Mitchell College CT 5,880 5,918 -0.6 826 Capitol College MD 5,265 5,200 1.3 827 J. Sargeant Reynolds Community College Educational Foundation VA 5,233 4,968 5.3 828 Metropolitan State University Foundation MN 4,711 4,974 -5.3 829 Harford Community College Foundation MD 4,686 4,767 -1.7

Copyright 2013 National Association of College and University Business Officers and Commonfund Institute.

U.S. and Canadian Institutions Listed by Fiscal Year 2012 Endowment Market Value and Percentage Change in Endowment Market Value from FY 2011 to FY 2012
*Note: The percentage change does NOT represent the rate of return for the institutions investments. Rather, the percentage change in the market value of an endowment from FY 2011 to FY 2012 reflects the net impact of: 1) withdrawals to fund institutional operations and capital expenses; 2) the payment of endowment management and investment fees; 3) additions from donor gifts and other contributions; and 4) investment gains or losses. 2011 2012 *Percentage State/ Endowment Endowment Change Rank Institution Funds Funds Province (%) ($000) ($000) 830 Asheville-Buncombe Technical Community College NC 4,529 4,681 -3.2 831 College of St. Joseph VT 4,492 4,471 0.5 832 La Roche College PA 4,413 4,384 0.7 833 Midlands Technical College Foundation SC 4,225 3,934 7.4 834 Naval Postgraduate School Foundation (NPSF) CA 4,016 4,143 -3.1 835 California Maritime Academy Foundation, Inc. CA 3,720 3,289 13.1 836 Houston Community College Foundation TX 3,663 2,937 24.7 837 Elgin Community College Foundation IL 3,400 3,045 11.7 838 Hillsborough Community College Foundation FL 3,251 3,163 2.8 839 Centenary College NJ 2,829 2,911 -2.8 840 Texas College TX 2,065 1,830 12.8 841 Laboure College MA 1,993 1,967 1.3 842 Georgia Perimeter College GA 1,029 854 20.6 843 Southern Virginia University VA 610 574 6.2

Average Median Notes: N/A=Not Available.

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491,637 90,051

494,928 91,700

-0.7 -1.8

Endowment market value data for Canadian institutions are expressed in U.S. dollars, based on the U.S./Canadian dollar conversion rates in effect on June 30, 2011 (for FY 2011) and June 30, 2012 (for FY 2012) , as reported by the Bank of Canada Web site (http://www.bankofcanada.ca/en/rates/exchform.html). Data from Canadian institutions is NOT included in the full 2012 NCSE report. +Endowment market values received January 2013. No other data for this institution are included with the 831 U.S. institutions in the full 2012 NCSE report. This table was prepared in January 2013. Changes to endowment values reported after January may not be reflected in the full 2012 NCSE report.

Total includes endowment assets from Texas A&M Foundation and Baylor Oral Health Foundation. The full 2012 NCSE report include separate information for each of these individual institutions. ii Includes combined endowment assets for the Regents of the University of Minnesota, University of Minnesota Foundation, and Minnesota Medical Foundation. The full 2012 NCSE report include separate information for each of these individual institutions. iii Total includes the combined assets from University of Illinois and the University of Illinois Foundation. The full 2012 NCSE report include separate information for each of these individual institutions. iv Total includes the combined assets of University of New Hampshire Foundation, Inc. and University System of New Hampshire and Affiliated Foundations. The full 2012 NCSE report include separate information for each of these individual institutions.

Copyright 2013 National Association of College and University Business Officers and Commonfund Institute.

Amount includes endowment assets held for the UNLV Foundation and the University of Nevada Reno Foundation and Athletic Association. vi Total endowment and all information in the 2012 NCSE report includes data from three combined endowment funds from the campuses of St. Johns College of Annapolis and St. Johns College of Santa Fe. vii Total endowment and all data in the full 2012 NCSE report include data for San Francisco State University. viii Total includes the combined assets from Indiana University of Pennsylvania and Foundation for Indiana University of Pennsylvania. The full 2012 NCSE report include separate information for each of these individual institutions. ix Total includes assets from West Chester University and West Chester University Foundation. The full 2012 NCSE report include separate information for each of these individual institutions.

Copyright 2013 National Association of College and University Business Officers and Commonfund Institute.

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