Understanding Kenyon’s Endowment
Endowments are investments in the future. Like a 401(k), the funds are invested and a portion of the earnings can be spent each year. Kenyon spends roughly 5% of these earnings annually, representing just over 10% of the operating budget. Notably, unlike a 401(k), when an endowed fund is created, Kenyon and other non-profit organizations commit to preserving the principal donated in perpetuity.
The vast majority of endowed funds support scholarships.
Kenyon’s endowment benefits from significant donor support. It contains more than 700 distinct restricted funds that have been designated to a specific purpose by donors. It also has a large unrestricted portion, the returns of which can be spent in alignment with college priorities. The vast majority of endowed funds support scholarships.
Kenyon operates on a fiscal year beginning July 1. As of June 30, 2024, the value of Kenyon’s endowment was $626 million, which represents decades of growth accelerated by fundraising campaigns. Most recently, the Our Path Forward to the Bicentennial campaign — which inspired giving of $532 million overall — added $138 million in new invested funds to the endowment.
The endowment helps Kenyon admit students regardless of need.
Continuing to grow Kenyon’s endowment, which is modest compared to our peers, will provide sustainable, renewable income, reducing the College’s dependence on tuition revenue. That, combined with continued support of annual funds like the Kenyon Fund, are key to keeping costs down and admitting students regardless of need.
Read about Kenyon’s endowment management, risk and profile strategy.
Third Century Founders
With our historic campus transformed to support living and learning in the 21st century, and our faculty advancing the superb academics for which Kenyon is known, we are turning our focus to positioning Kenyon for our third century. Central to our future vitality is growing the endowment through investments in innovative enhancements. In April 2025, we announced a new Third Century Founders initiative to raise $100 million for the endowment in two years.
Kenyon Launches New Interdisciplinary Initiative
A $25 million lead gift from Trustee Matthew Voorhees ’95 invests in the future of the liberal arts.