Dartmouth’s endowment generated a return of 46.5% for fiscal year 2021, which ended on June 30, 2021. The endowment has produced annual returns of 12.8% over the past 10 years. Its total value is now $8.5 billion.

“It has been inspiring to see the Dartmouth community rise to the challenges of the last 18 months,” says President Philip J. Hanlon ’77. “This is a moment to recognize the contributions of the community by investing in Dartmouth’s strategic priorities and its people.”

Through the endowment, Dartmouth will continue to invest in key long-term initiatives, such as creating a more welcoming and inclusive community; ensuring the mental and physical health of students, faculty, and staff; and positioning the institution for continued success in a rapidly changing higher-education landscape. These initiatives, as well as Dartmouth’s unwavering commitment to undergraduate financial aid, are supported by the current fiscal year’s approved endowment distribution of $335 million—almost one-third of the annual operating budget.

“The growth of the endowment is fueled by the generosity of our donors, a strong market performance, and a talented investment office,” says Hanlon. “As a result, we have the financial flexibility to not only safeguard the future but address current pressing needs.”

In addition to investments with a longer time horizon, Dartmouth is announcing the following:

• Effective immediately, as part of the undergraduate financial aid calculation, the expected parent contribution for families making up to $65,000 with typical assets will be eliminated. All undergraduates covered by the new policy will receive updated aid awards Monday, Oct. 11.
• By the end of the calendar year, all eligible employees will receive a bonus equal to 3% of their FY 21 base earnings.
• The hourly minimum wage for student workers will rise from $7.75 to $11.50.
• Graduate students who receive stipends will be awarded a $1,000 bonus.

These expenditures come in addition to the previously announced Infrastructure Renewal Fund (IRF) approved by the board of trustees in March. The new fund, from which $31 million is allocated for this year, increases annual financing from the endowment for investment in areas such as housing and a green energy system. Over the coming decade, the IRF will allow for more than $500 million of additional renewal projects.

“Dartmouth is an extraordinary place and as president I could not be more impressed or prouder of the resiliency exhibited by the community during these historic times,” says President Hanlon.