A Message on the Foundation's Endowment Strategy and Progress 

Members of the University of Illinois Community, 

Earning and maintaining the trust of our donors and University community is a responsibility we never take for granted. We remain committed to responsible stewardship, honoring donor intent, and providing sustainable, long‑term support to the University of Illinois System for generations to come. 

As we have shared openly with our Board and University leadership, the endowment's historical investment performance has fallen short of expectations, including relative to the benchmark the Foundation set for itself. We do not dispute that performance gap. Every dollar matters when it comes to supporting scholarships, faculty, and University programs, which is precisely why strengthening investment performance has been a priority for several years. 

Beginning in 2020, the Foundation undertook a comprehensive review of its investment office program, leading to significant changes in investment leadership and strategy in 2022. Since then, we have substantially repositioned the portfolio, including the sale of underperforming legacy investments and the redeployment of capital into new opportunities. The current private‑market portfolio has also been constructed differently, with greater exposure to venture capital and growth equity as part of a more balanced investment approach. 

Our strategy combines low‑cost passive investments where appropriate with selective active management across public and private markets. This diversified approach is designed to balance growth, risk, and liquidity while providing consistent financial support to the University of Illinois System over time. 

Recent results provide encouraging evidence of progress, although we recognize there is more work ahead. 

During our recent fall Board meeting the Board reviewed the investment program, including historical performance, progress under the current strategy, and expectations for the future, and expressed confidence in the investment team, and direction of the portfolio. We remain focused on delivering stronger long‑term results through an unwavering conviction to employing disciplined and rigorous Board oversight and governance. 

The University of Illinois Foundation closed FY2026 with a record‑setting $748.3 million in new commitments, reflecting the extraordinary generosity of our donors and their continued confidence in the future of the University of Illinois System. This milestone underscores the trust placed in the Foundation to steward these resources responsibly and translate philanthropic support into lasting impact for students, faculty, research, and our broader University community. 

James H. Moore 
President and CEO
University of Illinois Foundation