Facts & Figures

Performance Summary

March 31, 2016 (PDF)

Middlebury Announces Fiscal 2015 Endowment Results

MIDDLEBURY, Vt. – Middlebury’s endowment generated an investment return of 6.9 percent in the fiscal year that ended June 30, 2015. The annualized return over the past 10 years is 8.7 percent. Both figures are net of fees.

The annual and 10-year returns both surpassed Middlebury’s own benchmark (75 percent global equity/25 percent Treasury securities) of 1.9 percent for the year and 6.9 percent over 10 years. The 10-year return also outperformed the 7.9 percent return of the S&P 500 Stock Index.

Middlebury’s endowment is managed by Investure, a firm based in Charlottesville, Virginia, that manages the endowments — with a total value of $13 billion — of 14 colleges and foundations. Investure began managing the Middlebury endowment on May 31, 2005. 

On June 30, the value of Middlebury’s endowment stood at $1.10 billion — up $19.1 million from a year earlier. The change in the endowment from year to year is determined by investment gains and losses plus new gifts, minus the annual payout to help fund the operations of the institution.

Last year the annual payout from the endowment contributed $57.1 million toward Middlebury’s $310 million operating expenditures.

The Middlebury endowment supports all of Middlebury’s schools, including the undergraduate College, Middlebury Institute of International Studies at Monterey, Middlebury Language Schools, Schools Abroad, Bread Loaf School of English, Bread Loaf Writers’ Conferences, and School of the Environment.

“We continue to be pleased with the performance of our endowment under Investure’s management,” said Patrick Norton, Middlebury’s vice president for finance and treasurer. “As always, we’re grateful for the critical support from Middlebury alumni, parents, and friends. Thanks in part to their generosity, our endowment has continued to grow.”

Office of Finance and Administration

Old Chapel 102
Middlebury, VT 05753
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