Key Takeaways
- • Miami University Foundation's $1.1 billion endowment posted a net return of 14.1% for fiscal year 2025 (ending June 30), outperforming its 12% total portfolio policy benchmark by 210 basis points.
- • The Foundation's combined financial assets exceeded $2 billion for the first time, driven by strong investment performance and donor fundraising contributions totaling approximately $700 million in fiscal year 2024.
- • The pooled investment fund (PIF) and Tier III investments both delivered strong absolute and relative returns, with the endowment distributing $27.5 million to support university operations, scholarships, and academic programs in FY 2025.
- • Strategic Investment Group (SIG) served as the external chief investment officer, managing the diversified capital stack comprising operating cash, non-endowment investments, and the endowment pool.
- • The 14.1% return significantly exceeded the average net endowment return of 4.3% across all nonprofits, positioning Miami University's investment program in the upper performance quartile for university endowments.
Summary
Miami University Foundation achieved robust investment performance in fiscal year 2025, with its $1.1 billion endowment generating a net return of 14.1% for the year ending June 30, 2025. This result exceeded the Foundation's total portfolio policy benchmark of 12% by 210 basis points, demonstrating effective portfolio management and favorable market conditions during the period. According to the Investment Subcommittee meeting minutes from September 16, 2025, both the Tier III and Pooled Investment Fund (PIF) posted strong absolute and relative returns, contributing to the overall outperformance.
The Foundation reached a significant institutional milestone, with combined financial assets for Miami University and the Miami University Foundation surpassing $2 billion for the first time. This achievement reflects not only investment gains but also substantial donor support, with the university surpassing $700 million in fundraising for fiscal year 2024. The endowment distribution for FY 2025 totaled $27.5 million, supporting scholarships, academic programs, and research initiatives across the institution.
Strategic Investment Group (SIG) provided external chief investment officer services throughout the fiscal year, with representatives including Leah Posadas and Marcus Krygier attending investment oversight meetings. The Foundation's enterprise-wide capital structure comprises three components: operating cash (which ran ahead of forecast through June 30), non-endowment investments, and the endowment pool. This diversified approach, combined with disciplined governance and a long-term investment perspective, contributed to returns that substantially exceed the 4.3% average net return across all nonprofit endowments.
The 14.1% fiscal year return positions Miami University among top-performing university endowments, reflecting both sound asset allocation strategy and favorable equity and alternative asset performance during the period. The Investment Subcommittee, chaired by National Trustee Biff Bowman, continues to review performance on a quarterly basis with detailed endowment updates, maintaining transparency with stakeholders regarding portfolio performance and market context.
The Foundation reached a significant institutional milestone, with combined financial assets for Miami University and the Miami University Foundation surpassing $2 billion for the first time. This achievement reflects not only investment gains but also substantial donor support, with the university surpassing $700 million in fundraising for fiscal year 2024. The endowment distribution for FY 2025 totaled $27.5 million, supporting scholarships, academic programs, and research initiatives across the institution.
Strategic Investment Group (SIG) provided external chief investment officer services throughout the fiscal year, with representatives including Leah Posadas and Marcus Krygier attending investment oversight meetings. The Foundation's enterprise-wide capital structure comprises three components: operating cash (which ran ahead of forecast through June 30), non-endowment investments, and the endowment pool. This diversified approach, combined with disciplined governance and a long-term investment perspective, contributed to returns that substantially exceed the 4.3% average net return across all nonprofit endowments.
The 14.1% fiscal year return positions Miami University among top-performing university endowments, reflecting both sound asset allocation strategy and favorable equity and alternative asset performance during the period. The Investment Subcommittee, chaired by National Trustee Biff Bowman, continues to review performance on a quarterly basis with detailed endowment updates, maintaining transparency with stakeholders regarding portfolio performance and market context.
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