Frequently Asked Questions
What is an endowment?
An endowment is a permanent fund created through private donations to support specific programs and purposes designated by the donor. The assets are invested, and a portion of the fund’s value is distributed quarterly to support its intended purpose. Earnings beyond the annual distribution are reinvested to grow the fund’s market value, ensuring long-term support for generations to come.
INVESTMENT
How are endowed funds invested?
Endowed funds are pooled and invested collectively in the University of Washington’s Consolidated Endowment Fund (CEF)—similar to how a mutual fund works. Each gift to an endowed fund purchases units in the CEF. As the market value of the CEF changes, so does the value of each unit, which in turn affects the value of each individual endowed fund.
The University of Washington Investment Management Company (UWINCO) manages all investment assets, including the endowment. UWINCO operates independently within the University and focuses on balancing long-term growth with the preservation of donor contributions.The endowment portfolio is guided by a core objective: to provide sustainable support for endowed programs in perpetuity.
The Board of Regents, in collaboration with the UWINCO Board, sets and reviews the asset allocation strategy annually to ensure it aligns with the University’s long-term goals and market conditions. Our long-term strategy emphasizes an equity-oriented portfolio, while maintaining sufficient liquidity to meet the CEF’s funding needs.
What is the FY25 endowment spending policy?
For fiscal year 2025, the total spending rate is 4.5%, which includes:
- 3.6% distributed to support programs
- 0.9% administrative fee
Why isn’t my June gift listed in my individual report?
The annual CEF report includes gifts invested during the fiscal year (April 1–March 31). Gifts received between April 1 and June 30 are invested in the first quarter of the following fiscal year and will appear in next year’s report.
How often are units purchased?
Units are purchased quarterly—on January 1, April 1, July 1, and October 1—for gifts received during the preceding quarter. These units are purchased at the CEF unit value calculated by UWINCO.
New gifts added to the principal increase the amount distributed to support the fund’s purpose in future quarters.
Where can I learn more about this year’s investment performance?
The UW Advancement and Treasury Offices publish a full annual web report highlighting the CEF’s investment performance and impact on University programs.
ENDOWMENT GIFTS
How do I make an additional gift to an endowed fund?
You can give online via My UW Giving or by mailing a check with the fund name and any specific instructions to:
UW Office of Gift Services
Box 359505
Seattle, WA 98195
If you’re giving through a Donor Advised Fund or another method, please include a note with the fund name and if you wish the gift to be directed to the endowment’s spendable account. By default, gifts given to an endowment are invested in the principal, unless specifically directed to the spendable portion.
ADDITIONAL INFORMATION
Who should I contact with questions about the CEF?
Contact Robert Bradshaw in the UW Treasury Office at robertcb@uw.edu or 206-221-6752.
Who should I contact with questions about my specific endowment(s)?
Your individual endowment report includes contact information for the advancement officer in the benefiting area. They can answer questions about the impact of your gift on the program.
You may also reach out to the Office of Endowments and Donor Services at steward@uw.edu or 1-800-332-0565 for assistance.