The MSU Common Investment Fund (CIF) is the combined pool of the university’s long-term investments. As of June 30, 2025, it was valued at more than $4.6 billion. Over the past five years, the funds generated more than $1.2 billion for student scholarships, endowed professor support, program support and other annual university expenses.
For our fiscal year ending June 30, 2025, the endowment performance was 10.7%, exceeding our expected spending policy of 4.4% plus inflation of 3.1% for the year. This performance raised the total assets of the endowment to $4.6 billion, a $188 million increase from FY 2024, while providing income of $307 million to the university for spending, an all-time high.
Common Investment Fund Performance
Donor-funded endowments at the university work much like a mutual fund—each new endowment gift buys shares, or units, in the university’s Common Investment Fund (CIF). When an endowed fund is established for a specific purpose (such as scholarships, program assistance, etc.), the spending distribution is directed to that purpose. The spending distribution provided to each endowed fund is based on the number of units the fund owns and is distributed according to the university’s endowment spending policy.
MSU has a fiduciary responsibility to preserve the purchasing power of its endowed funds in perpetuity so that they will forever provide resources to important purposes that donors have chosen to support through their generous gifts. The current spending policy, which is set by the Board of Trustees, is 4.8% of the average value of the endowment over the last five years.
Endowment Value Over Time
As of June 30, 2025
For more information or questions related to endowments, please contact Lyndsay Cook, senior director of donor services, at cookly@msu.edu.
If you would like more information on establishing a new endowment through a gift to MSU, please contact MSU University Advancement at (517) 884-1000 or contact the development officer in the unit you wish to support.
Download the Common Investment Fund report.
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