Study: Educational Endowments' Investment Returns Averaged 15.5 Percent in FY2014

As noted, participating institutions reported that an average of 9.2 percent of their operating budget was funded by their endowment compared with 8.8 percent reported a year ago. The largest institutions, those with assets over $1 billion, relied on the endowment to fund 16.9 percent of their operating budget in FY2014, while at institutions with assets under $25 million the endowment funded just 4.2 percent of the operating budget.