Receiving an entrance award changed everything. Instead of choosing a university based on cost and proximity to home, I was able to choose the best path for my future—an opportunity that has been truly life-changing.
Endowment Report
Donors contributing to the Queen’s Endowment are part of a community that believes in discovery, opportunity, and progress.
Your generosity helps create the conditions for students, faculty, and researchers to thrive and to pursue solutions that matter—now and for generations to come.
Thank you for your commitment to meaningful change and a brighter future for us all.
Total Assets
$1,721,000,000
as of April 30, 2025
$43,342,348
Total gifts received to endowed funds in the 2024–2025 fiscal year
Arjun, Endowed Student Award recipient, 2024–25
8.0%
Annualized return over the past 10 years
For the 2024–2025 Fiscal Year
Donors ensure the long-term growth of the endowment, creating impact that will be as significant in the future as it is today.
-
1,745Donors
-
522Funds
$561M
Distributed Over the past 15 years
Second-highest funds per full-time equivalent student among Canadian universities*
*Source: 2024 CAUBO Investment Survey (>5,000 students)
-
McGill University
$67,415 -
Queen’s University
$55,968 -
Dalhousie University
$52,282 -
University of Alberta
$44,349 -
University of British Columbia
$44,244 -
University of Toronto
$42,030 -
University of Calgary
$40,328 -
McMaster University
$39,052 -
University of Manitoba
$38,478 -
Western University
$35,243
$1.721B
Market Value of the Endowment
(As of April 30, 2025, after distributions)
| Year | Value |
|---|---|
| 2001 | $412M |
| 2002 | $446M |
| 2003 | $413M |
| 2004 | $462M |
| 2005 | $515M |
| 2006 | $572M |
| 2007 | $648M |
| 2008 | $625M |
| 2009 | $473M |
| 2010 | $566M |
| 2011 | $613M |
| 2012 | $611M |
| 2013 | $694M |
| 2014 | $787M |
| 2015 | $896M |
| 2016 | $919M |
| 2017 | $1028M |
| 2018 | $1075M |
| 2019 | $1137M |
| 2020 | $1131M |
| 2021 | $1378M |
| 2022 | $1409M |
| 2023 | $1457M |
| 2024 | $1599M |
| 2025 | $1721M |
Donor support has not only lightened my financial burden but has profoundly shaped my journey, allowing me to fully embrace my education, pursue enriching experiences, and grow both academically and personally. It has instilled a deep sense of gratitude and responsibility, inspiring me to give back and create opportunities for others, just as this generosity has done for me.
Hudson, Endowed Student Award recipient, 2024–25
Endowment Payout
Fiscal year is from May 1 to April 30.
-
$42M2020
-
$45M2021
-
$50M2022
-
$56M2023
-
$59M2024
-
$62M2025
Asset Mix
(As of April 30, 2025)
| Asset | Percentage |
|---|---|
| Global Equity | 56.2% |
| Private Equity | 4.3% |
| Small-Cap Equity | 5.7% |
| Canadian Fixed Income | 11.4% |
| Absolute Return Fixed Income | 4.1% |
| Infrastructure | 8.3% |
| Real Estate | 5.3% |
| Cash and Short-Term Investments | 4.7% |
Endowments are a powerful expression of shared purpose. Through these enduring gifts, donors strengthen Queen’s academic mission by advancing knowledge, supporting students, and enabling work that helps build a better future for communities here and around the world.
Patrick Deane, Principal and Vice-Chancellor
Carbon Footprint vs. Benchmark Over Time
Three years ago, our endowment’s carbon footprint was 14% above the benchmark index. See how we invest responsibly.
| Percentage | Data | Legend | |
|---|---|---|---|
| 20% | 14% | -12% | |
| 15% | |||
| 10% | |||
| 5% | |||
| 0 | Benchmark | ||
| -5% | |||
| -10% | |||
| -15% | |||
| -20% | |||
| -25% | 2030 Target | ||
| 2021-12-31 | 2024-12-31 | ||
Growth of $1,000 Invested in the Fund After Distributions
(As of April 30, 2025)
| Month | Endowment $2019 | Inflation $1729 |
|---|---|---|
| 2000-04 | $1000 | $1000 |
| 2000-05 | $1030 | $1004 |
| 2000-06 | $1022 | $1011 |
| 2000-07 | $1015 | $1014 |
| 2000-08 | $1042 | $1013 |
| 2000-09 | $1058 | $1017 |
| 2000-10 | $1072 | $1019 |
| 2000-11 | $1064 | $1022 |
| 2000-12 | $1098 | $1023 |
| 2001-01 | $1086 | $1019 |
| 2001-02 | $1085 | $1024 |
| 2001-03 | $1081 | $1028 |
| 2001-04 | $1087 | $1035 |
| 2001-05 | $1109 | $1043 |
| 2001-06 | $1066 | $1044 |
| 2001-07 | $1086 | $1041 |
| 2001-08 | $1086 | $1041 |
| 2001-09 | $1062 | $1043 |
| 2001-10 | $1074 | $1038 |
| 2001-11 | $1099 | $1029 |
| 2001-12 | $1119 | $1031 |
| 2002-01 | $1106 | $1033 |
| 2002-02 | $1115 | $1039 |
| 2002-03 | $1131 | $1047 |
| 2002-04 | $1107 | $1053 |
| 2002-05 | $1107 | $1055 |
| 2002-06 | $1067 | $1057 |
| 2002-07 | $1038 | $1063 |
| 2002-08 | $1042 | $1068 |
| 2002-09 | $990 | $1068 |
| 2002-10 | $1000 | $1071 |
| 2002-11 | $1019 | $1074 |
| 2002-12 | $1016 | $1070 |
| 2003-01 | $983 | $1079 |
| 2003-02 | $961 | $1088 |
| 2003-03 | $959 | $1091 |
| 2003-04 | $986 | $1084 |
| 2003-05 | $1011 | $1085 |
| 2003-06 | $1011 | $1085 |
| 2003-07 | $1020 | $1086 |
| 2003-08 | $1021 | $1089 |
| 2003-09 | $1020 | $1091 |
| 2003-10 | $1036 | $1088 |
| 2003-11 | $1042 | $1091 |
| 2003-12 | $1085 | $1092 |
| 2004-01 | $1109 | $1093 |
| 2004-02 | $1130 | $1095 |
| 2004-03 | $1114 | $1099 |
| 2004-04 | $1113 | $1102 |
| 2004-05 | $1111 | $1111 |
| 2004-06 | $1117 | $1112 |
| 2004-07 | $1106 | $1111 |
| 2004-08 | $1103 | $1109 |
| 2004-09 | $1102 | $1111 |
| 2004-10 | $1107 | $1113 |
| 2004-11 | $1121 | $1117 |
| 2004-12 | $1152 | $1115 |
| 2005-01 | $1158 | $1114 |
| 2005-02 | $1178 | $1119 |
| 2005-03 | $1166 | $1125 |
| 2005-04 | $1165 | $1128 |
| 2005-05 | $1182 | $1129 |
| 2005-06 | $1187 | $1131 |
| 2005-07 | $1211 | $1133 |
| 2005-08 | $1208 | $1138 |
| 2005-09 | $1206 | $1147 |
| 2005-10 | $1176 | $1142 |
| 2005-11 | $1193 | $1140 |
| 2005-12 | $1214 | $1139 |
| 2006-01 | $1239 | $1145 |
| 2006-02 | $1232 | $1143 |
| 2006-03 | $1255 | $1149 |
| 2006-04 | $1251 | $1156 |
| 2006-05 | $1212 | $1161 |
| 2006-06 | $1211 | $1159 |
| 2006-07 | $1230 | $1160 |
| 2006-08 | $1244 | $1162 |
| 2006-09 | $1249 | $1156 |
| 2006-10 | $1280 | $1153 |
| 2006-11 | $1312 | $1156 |
| 2006-12 | $1334 | $1158 |
| 2007-01 | $1346 | $1158 |
| 2007-02 | $1342 | $1166 |
| 2007-03 | $1346 | $1176 |
| 2007-04 | $1362 | $1181 |
| 2007-05 | $1365 | $1186 |
| 2007-06 | $1354 | $1184 |
| 2007-07 | $1337 | $1185 |
| 2007-08 | $1323 | $1182 |
| 2007-09 | $1332 | $1184 |
| 2007-10 | $1344 | $1181 |
| 2007-11 | $1316 | $1184 |
| 2007-12 | $1309 | $1185 |
| 2008-01 | $1246 | $1183 |
| 2008-02 | $1234 | $1187 |
| 2008-03 | $1236 | $1192 |
| 2008-04 | $1273 | $1201 |
| 2008-05 | $1284 | $1213 |
| 2008-06 | $1230 | $1221 |
| 2008-07 | $1202 | $1225 |
| 2008-08 | $1206 | $1223 |
| 2008-09 | $1084 | $1224 |
| 2008-10 | $988 | $1212 |
| 2008-11 | $958 | $1207 |
| 2008-12 | $971 | $1199 |
| 2009-01 | $920 | $1196 |
| 2009-02 | $868 | $1204 |
| 2009-03 | $903 | $1206 |
| 2009-04 | $930 | $1205 |
| 2009-05 | $960 | $1214 |
| 2009-06 | $972 | $1218 |
| 2009-07 | $992 | $1214 |
| 2009-08 | $1016 | $1214 |
| 2009-09 | $1040 | $1214 |
| 2009-10 | $1012 | $1213 |
| 2009-11 | $1030 | $1219 |
| 2009-12 | $1049 | $1215 |
| 2010-01 | $1023 | $1218 |
| 2010-02 | $1030 | $1223 |
| 2010-03 | $1053 | $1223 |
| 2010-04 | $1055 | $1228 |
| 2010-05 | $1012 | $1231 |
| 2010-06 | $983 | $1230 |
| 2010-07 | $1016 | $1236 |
| 2010-08 | $1007 | $1235 |
| 2010-09 | $1043 | $1237 |
| 2010-10 | $1059 | $1242 |
| 2010-11 | $1048 | $1243 |
| 2010-12 | $1080 | $1243 |
| 2011-01 | $1091 | $1247 |
| 2011-02 | $1104 | $1250 |
| 2011-03 | $1101 | $1263 |
| 2011-04 | $1107 | $1268 |
| 2011-05 | $1101 | $1276 |
| 2011-06 | $1088 | $1268 |
| 2011-07 | $1067 | $1270 |
| 2011-08 | $1028 | $1273 |
| 2011-09 | $989 | $1276 |
| 2011-10 | $1029 | $1278 |
| 2011-11 | $1024 | $1279 |
| 2011-12 | $1026 | $1272 |
| 2012-01 | $1050 | $1277 |
| 2012-02 | $1070 | $1283 |
| 2012-03 | $1080 | $1288 |
| 2012-04 | $1070 | $1293 |
| 2012-05 | $1030 | $1292 |
| 2012-06 | $1051 | $1287 |
| 2012-07 | $1057 | $1286 |
| 2012-08 | $1063 | $1289 |
| 2012-09 | $1079 | $1291 |
| 2012-10 | $1079 | $1293 |
| 2012-11 | $1081 | $1290 |
| 2012-12 | $1098 | $1283 |
| 2013-01 | $1133 | $1284 |
| 2013-02 | $1154 | $1298 |
| 2013-03 | $1167 | $1301 |
| 2013-04 | $1180 | $1298 |
| 2013-05 | $1186 | $1302 |
| 2013-06 | $1166 | $1302 |
| 2013-07 | $1191 | $1303 |
| 2013-08 | $1181 | $1303 |
| 2013-09 | $1202 | $1305 |
| 2013-10 | $1241 | $1302 |
| 2013-11 | $1256 | $1302 |
| 2013-12 | $1271 | $1298 |
| 2014-01 | $1266 | $1303 |
| 2014-02 | $1294 | $1313 |
| 2014-03 | $1301 | $1321 |
| 2014-04 | $1311 | $1325 |
| 2014-05 | $1320 | $1331 |
| 2014-06 | $1331 | $1332 |
| 2014-07 | $1330 | $1330 |
| 2014-08 | $1351 | $1330 |
| 2014-09 | $1333 | $1331 |
| 2014-10 | $1341 | $1332 |
| 2014-11 | $1366 | $1327 |
| 2014-12 | $1365 | $1317 |
| 2015-01 | $1400 | $1315 |
| 2015-02 | $1433 | $1327 |
| 2015-03 | $1430 | $1337 |
| 2015-04 | $1415 | $1335 |
| 2015-05 | $1440 | $1343 |
| 2015-06 | $1414 | $1346 |
| 2015-07 | $1448 | $1347 |
| 2015-08 | $1409 | $1347 |
| 2015-09 | $1386 | $1345 |
| 2015-10 | $1414 | $1346 |
| 2015-11 | $1422 | $1345 |
| 2015-12 | $1425 | $1339 |
| 2016-01 | $1400 | $1342 |
| 2016-02 | $1380 | $1345 |
| 2016-03 | $1404 | $1353 |
| 2016-04 | $1399 | $1358 |
| 2016-05 | $1427 | $1363 |
| 2016-06 | $1427 | $1366 |
| 2016-07 | $1456 | $1364 |
| 2016-08 | $1463 | $1362 |
| 2016-09 | $1465 | $1363 |
| 2016-10 | $1459 | $1366 |
| 2016-11 | $1466 | $1361 |
| 2016-12 | $1481 | $1359 |
| 2017-01 | $1478 | $1370 |
| 2017-02 | $1504 | $1372 |
| 2017-03 | $1514 | $1375 |
| 2017-04 | $1527 | $1380 |
| 2017-05 | $1538 | $1381 |
| 2017-06 | $1514 | $1380 |
| 2017-07 | $1504 | $1380 |
| 2017-08 | $1511 | $1381 |
| 2017-09 | $1522 | $1384 |
| 2017-10 | $1547 | $1385 |
| 2017-11 | $1559 | $1389 |
| 2017-12 | $1560 | $1384 |
| 2018-01 | $1570 | $1394 |
| 2018-02 | $1551 | $1402 |
| 2018-03 | $1542 | $1406 |
| 2018-04 | $1547 | $1411 |
| 2018-05 | $1559 | $1412 |
| 2018-06 | $1565 | $1414 |
| 2018-07 | $1579 | $1421 |
| 2018-08 | $1586 | $1420 |
| 2018-09 | $1577 | $1415 |
| 2018-10 | $1524 | $1419 |
| 2018-11 | $1540 | $1413 |
| 2018-12 | $1495 | $1412 |
| 2019-01 | $1533 | $1414 |
| 2019-02 | $1556 | $1423 |
| 2019-03 | $1572 | $1433 |
| 2019-04 | $1587 | $1439 |
| 2019-05 | $1558 | $1446 |
| 2019-06 | $1581 | $1442 |
| 2019-07 | $1581 | $1450 |
| 2019-08 | $1575 | $1448 |
| 2019-09 | $1585 | $1441 |
| 2019-10 | $1588 | $1446 |
| 2019-11 | $1615 | $1443 |
| 2019-12 | $1622 | $1443 |
| 2020-01 | $1625 | $1448 |
| 2020-02 | $1569 | $1454 |
| 2020-03 | $1448 | $1446 |
| 2020-04 | $1536 | $1436 |
| 2020-05 | $1570 | $1440 |
| 2020-06 | $1575 | $1452 |
| 2020-07 | $1613 | $1452 |
| 2020-08 | $1646 | $1450 |
| 2020-09 | $1629 | $1449 |
| 2020-10 | $1598 | $1455 |
| 2020-11 | $1698 | $1457 |
| 2020-12 | $1732 | $1454 |
| 2021-01 | $1728 | $1462 |
| 2021-02 | $1756 | $1470 |
| 2021-03 | $1792 | $1477 |
| 2021-04 | $1817 | $1485 |
| 2021-05 | $1827 | $1492 |
| 2021-06 | $1865 | $1496 |
| 2021-07 | $1873 | $1506 |
| 2021-08 | $1894 | $1509 |
| 2021-09 | $1866 | $1512 |
| 2021-10 | $1900 | $1523 |
| 2021-11 | $1898 | $1526 |
| 2021-12 | $1940 | $1524 |
| 2022-01 | $1885 | $1538 |
| 2022-02 | $1860 | $1553 |
| 2022-03 | $1871 | $1576 |
| 2022-04 | $1788 | $1585 |
| 2022-05 | $1784 | $1607 |
| 2022-06 | $1702 | $1618 |
| 2022-07 | $1770 | $1620 |
| 2022-08 | $1743 | $1615 |
| 2022-09 | $1666 | $1616 |
| 2022-10 | $1716 | $1628 |
| 2022-11 | $1790 | $1630 |
| 2022-12 | $1735 | $1620 |
| 2023-01 | $1798 | $1629 |
| 2023-02 | $1780 | $1635 |
| 2023-03 | $1791 | $1643 |
| 2023-04 | $1801 | $1655 |
| 2023-05 | $1789 | $1661 |
| 2023-06 | $1833 | $1663 |
| 2023-07 | $1863 | $1673 |
| 2023-08 | $1836 | $1679 |
| 2023-09 | $1778 | $1677 |
| 2023-10 | $1752 | $1678 |
| 2023-11 | $1836 | $1680 |
| 2023-12 | $1873 | $1675 |
| 2024-01 | $1880 | $1675 |
| 2024-02 | $1935 | $1680 |
| 2024-03 | $1968 | $1691 |
| 2024-04 | $1930 | $1699 |
| 2024-05 | $2014 | $1709 |
| 2024-06 | $2000 | $1708 |
| 2024-07 | $2030 | $1715 |
| 2024-08 | $2029 | $1712 |
| 2024-09 | $2057 | $1705 |
| 2024-10 | $2055 | $1712 |
| 2024-11 | $2111 | $1712 |
| 2024-12 | $2094 | $1706 |
| 2025-01 | $2137 | $1707 |
| 2025-02 | $2105 | $1725 |
| 2025-03 | $2060 | $1730 |
| 2025-04 | $2019 | $1729 |
Investment Committee Members
The members of the investment committee effective July 1, 2025.
Chair
- T. Mattina
Vice-Chair
- S. Murray
Secretary
- B. O’Neill
Ex Officio
- D. Court
- D. Janiec
- S. Rogers
Appointed
- N. Arruda
- M. Brophy
- C. Budd
- O. Cheung
- C. Matthews
- T. Mattina
- S. Murray
- D. Walker
See How the Queen’s Endowment Works.
From all of us at Queen’s University, thank you!
Â鶹ÍøÕ¾ is situated on traditional Anishinaabe and Haudenosaunee Territory.
