Harvard

Here's how much endowments at the 20 richest colleges in Mass. grew

Endowments have spiked in recent years, reflecting both rising donations and strong investment returns

By Grant Welker • Published February 8, 2024 • Updated on February 8, 2024 at 8:56 am

In a file photo, a sculler rows on the Charles River past the Harvard University campus in Cambridge, Massachusetts, U.S., on Tuesday, June 30, 2015. Harvard University, established in 1636, is the United States' oldest institution of higher learning. Photographer: Victor J. Blue/Bloomberg via Getty Images — Getty Images

Endowments at the 20 richest colleges in Massachusetts rose nearly 30% in three years, according to a Boston Business Journal analysis of U.S. Department of Education data.

In all, 13 colleges across the state have endowments of at least $1 billion, more than 10% of the 127 nationwide that meet that milestone. Massachusetts also claims two of the top five: Harvard, which has far and away the largest college endowment anywhere at more than $50 billion; and MIT, with nearly $25 billion.

Endowments have spiked in recent years, reflecting both rising donations and strong investment returns. The strong investment returns last year was a turnaround from the previous year, when there was an average decline of 6.9% from fiscal 2021 to 2022 among the 20 richest Massachusetts colleges.

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