$36 billon and counting: How the largest college endowment in California compares to the Ivy League
Stanford, Caltech, and USC are among California’s richest universities, but how do they compare to Ivy League powerhouses like Harvard and Yale? We break down the numbers and the trends.
When it comes to elite higher education, California and the Ivy League often dominate the conversation—but their financial foundations tell very different stories.
According to new data from CollegeRaptor, California’s top colleges continue to post multi-billion dollar endowments. But can any come close to unseating the East Coast's financial titans in 2025?
What Are Endowments?
A college endowment is a financial fund made up of donations, investments, and other assets that schools use to support their long-term goals. These funds are typically invested, and the returns help finance everything from scholarships and faculty salaries to building maintenance and research programs.
Endowments are a key indicator of a university’s financial health. The larger the endowment, the more flexibility an institution has during economic downturns—and the more likely it is to provide generous financial aid to students. Many endowments are also restricted, meaning they can only be used for specific purposes defined by donors.
Endowment Comparison: Top California vs. Ivy League Schools (2025)
The table below highlights 19 college endowments in the United States as of May 2025: the 10 largest endowments in California, and the 1o largest endowments nationwide. Only Stanford appears on both lists.
The table reflects each school’s total endowment value, their national or state rank, and the year-over-year percentage change since 2024. The data reveals not just the size of these funds, but how schools fared during a turbulent year for higher education investments.
| School Name | Region | Rank | Endowment (2025) | Change from 2024 |
|---|---|---|---|---|
| Harvard University | Ivy League | 1 | $50,877,680,000 | ↓ 4.3% |
| Yale University | Ivy League | 2 | $41,383,260,000 | ↓ 2.1% |
| Stanford University | California | 3 | $36,338,794,000 | ↓ 3.8% |
| Princeton University | Ivy League | 4 | $35,126,217,000 | ↓ 5.1% |
| MIT | Northeast | 5 | $24,600,809,000 | ↓ 10.2% |
| University of Pennsylvania | Ivy League | 6 | $20,724,351,000 | ↑ 1.0% |
| Texas A&M University | Other | 7 | $17,219,500,588 | ↑ 1.9% |
| University of Notre Dame | Other | 8 | $17,101,110,000 | ↓ 7.0% |
| University of Michigan-Ann Arbor | Other | 9 | $17,095,088,000 | ↑ 1.8% |
| Columbia University (NYC) | Ivy League | 10 | $13,279,846,000 | ↓ 7.5% |
| University of Southern California | California | 2 (CA) | $7,400,081,000 | ↓ 8.9% |
| Caltech | California | 3 (CA) | $3,390,504,000 | ↓ 15.7% |
| UCLA | California | 4 (CA) | $2,903,804,000 | ↓ 8.2% |
| Pomona College | California | 5 (CA) | $2,764,972,000 | ↓ 8.8% |
| UC Berkeley | California | 6 (CA) | $2,727,165,000 | ↓ 8.7% |
| Santa Clara University | California | 7 (CA) | $1,471,579,000 | ↓ 4.3% |
| Soka University of America | California | 8 (CA) | $1,400,587,000 | ↓ 10.5% |
| Claremont McKenna College | California | 9 (CA) | $1,224,986,000 | ↓ 6.7% |
| National University | California | 10 (CA) | $1,209,313,516 | ↓ 14.6% |
Stanford Remains California’s Endowment Powerhouse
Stanford University leads all California schools by a wide margin, with a $36.3 billion endowment—good for third-largest in the nation, behind only Harvard ($50.9B) and Yale ($41.4B). Even as Stanford reported a modest 3.8% drop in endowment value from the previous year, its financial clout remains unmatched west of the Mississippi.
Stanford’s endowment supports a sprawling research enterprise, extensive student aid programs, and long-term investments in AI, medicine, and climate solutions. In fact, its endowment rivals the GDP of some small countries.
Caltech Posts One of the Nation’s Steepest Declines
While Stanford held relatively steady, Caltech’s endowment fell by 15.7%—the largest percentage drop of any top-10 school in California or the Ivy League. Now sitting at $3.39 billion, Caltech’s endowment is still formidable for its size, but the decrease raises questions about how smaller, research-intensive schools are navigating volatile markets.
The Pasadena-based science and engineering institute isn’t alone in facing losses. MIT, another tech-heavy school, saw a 10.2% drop to $24.6 billion. But Caltech’s decline stands out, especially given its prior reputation for weathering economic headwinds with precision.
California’s Broader Endowment Picture: Resilience with Room to Grow
Other California institutions like USC ($7.4B), UCLA ($2.9B), and Pomona College ($2.76B) also reported year-over-year endowment declines, generally ranging from 8–9%. These drops mirror national trends, but highlight a structural challenge: no California school besides Stanford ranks in the nation’s top five by endowment.
In contrast, Ivy League schools such as Princeton ($35.1B), Columbia ($13.3B), and Penn ($20.7B) continue to operate on massive reserves—with some even growing. The University of Pennsylvania was the only top-six Ivy to post an increase (1%) this cycle.
Despite the disparity, California colleges are actively working to reduce volatility. Many have diversified their investment portfolios, shifted toward more ESG-aligned assets, and doubled down on alumni outreach to build long-term financial support. Still, maintaining competitiveness in research and faculty recruitment may hinge on whether these strategies can stabilize future endowment performance.
Final Thoughts
The bottom line? California’s elite colleges remain financially strong, but when it comes to endowment size, the Ivy League still holds the crown. Stanford is the clear outlier in the Golden State, operating in the same financial tier as Harvard and Yale. But for other California institutions, bridging the gap will require careful investment strategies—and perhaps, more aggressive fundraising in the years ahead.
