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Nonprofiteer
← OXFORD FUNDS ENDOWMENT MASTER

Form 990 for tax year 2024

Filed by OXFORD FUNDS ENDOWMENT MASTER.

Totals

Total revenue
$438,364,978
Total expenses
$346,508,057
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$9,631,458
Investment income
$421,071,972
Other revenue
$7,661,548
Total assets, end of year
$8,069,564,158
Total liabilities, end of year
$43,995,172
Net assets or fund balances, end of year
$8,025,568,986
Program services expenses (Part IX)
$310,331,063
Management and general expenses
$36,176,994
Fundraising expenses
$0
Program service expenses (Part III)
$310,331,063

Program services were 89.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: SALE OF FUND UNITS

    total $9,631,458 · related or exempt $9,631,458

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $23,029,225 · unrelated business $412,501 · excluded $22,616,724

  • 6a · Gross rents

    real property $15,292,479

  • 6b · Less rental expenses

    real property $8,136,567

  • 6c · Rental income or loss

    real property $7,155,912 · personal property $0

  • 6d · Net rental income or loss

    total $7,155,912 · excluded $7,155,912

  • 7a · Gross sales of assets other than inventory

    securities $398,042,747

  • 7c · Gain or loss

    securities $398,042,747 · other assets $0

  • 7d · Net gain or loss

    total $398,042,747 · excluded $398,042,747

  • 11a · Other revenue: REBATE INCOME

    total $505,636 · excluded $505,636

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $505,636

Functional expenses

Part IX, the statement of functional expenses.

  • 6 · Compensation of disqualified persons

    total $38,738 · management and general $38,738

  • 11a · Fees: management

    total $1,750,590 · management and general $1,750,590

  • 11c · Fees: accounting

    total $779,648 · management and general $779,648

  • 11f · Fees: investment management

    total $32,340,676 · management and general $32,340,676

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 20 · Interest

    total $155,960 · management and general $155,960

  • 24a · Other expenses: DISTRIBUTIONS TO UNITHOLDERS

    total $310,331,063 · program services $310,331,063

  • 24b · Other expenses: DEPOSITORY FEES

    total $999,957 · management and general $999,957

  • 24c · Other expenses: Custodian Fees

    total $74,742 · management and general $74,742

  • 24d · Other expenses: OTHER MISC EXPENSES

    total $36,683 · management and general $36,683

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $456,805,401 · end of year $154,318,760

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $321,194,561

  • 10b · Land, buildings and equipment: accumulated depreciation

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $318,082,080 · end of year $321,194,561

  • 12 · Investments: other securities

    beginning of year $6,624,380,151 · end of year $7,380,998,528

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $195,426,216 · end of year $213,052,309

  • 17 · Accounts payable and accrued expenses

    beginning of year $36,945,076 · end of year $43,995,172

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $7,557,748,772 · end of year $8,025,568,986

Mission and programs · 2024

Mission

THE ENDOWMENT MASTER'S PURPOSE AND ACTIVITY IS TO BENEFIT THE CHANCELLOR, MASTERS AND SCHOLARS OF THE UNIVERSITY OF OXFORD (UNIVERSITY OF OXFORD), AN ORGANIZATION RECOGNIZED BY THE IRS AS AN EDUCATIONAL ORGANIZATION DESCRIBED IN IRC SECTION 170(B)(1)(A)(II) THAT IS TAX-EXEMPT UNDER IRC SECTION 501(C)(3). THE UNIVERSITY OF OXFORD HAS ESTABLISHED ENDOWMENT MASTER AS A CRITICAL COMPONENT OF ITS INVESTMENT STRUCTURE. THE INVESTMENT STRUCTURE, AND ENDOWMENT MASTER'S ACTIVITIES, ARE DESIGNED TO OPTIMIZE INVESTMENT RETURNS ON A PORTION OF THE UNIVERSITY OF OXFORD'S ASSETS. ENDOWMENT MASTER ALSO ALLOWS CERTAIN OTHER CHARITIES TO INVEST WITH ENDOWMENT MASTER THROUGH THE OXFORD FUNDS: NON-COLLEGIATE FEEDER, ALLOWING THEM TO MAKE USE OF ENDOWMENT MASTER'S INFRASTRUCTURE AND INVESTMENT SERVICES ALREADY PROVIDED TO THE OXFORD FUNDS: COLLEGIATE FEEDER.

Activities or mission (Part I)

ENDOWMENT MASTER WAS ESTABLISHED TO MANAGE THE ENDOWMENT FUNDS OF THE UNIVERSITY OF OXFORD IN ORDER TO PROVIDE FOR THE ECONOMIC BENEFIT OF THE UNIVERSITY OF OXFORD.

  • ENDOWMENT MASTER'S PURPOSE IS TO PROVIDE SUPPORT TO THE UNIVERSITY OF OXFORD THROUGH ITS INVESTMENT RETURNS. THERE WAS $310,331,063 OF DISTRIBUTIONS TO UNITHOLDERS OF THE FUNDS FOR THE YEAR 2024.

    Expenses $310,331,063 · Revenue $9,631,458

As filed on the 2024 return.

Listed in Part VII

  • TOF CORPORATE TRUSTEE LIMITED

    CORPORATE TRUSTEE

    Total calculated
    $38,738
    From this org
    $38,738
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • OXFORD UNIVERSITY ENDOWMENT MANAGEMENT

    C Corporation · INVESTMENT MGMT · UK

    Directly controlled by na

  • TOF CORPORATE TRUSTEE LTD

    C Corporation · CORPORATE TRUST · UK

    Directly controlled by NA

  • ENDOWMENT ESTATES LIMITED

    C Corporation · INVESTMENT MGMT · UK · 100% owned · controlled entity

    Directly controlled by TOFEM

  • ECOSYSTEM CAPITAL LIMITED

    C Corporation · INVESTMENT MGMT · UK · 100% owned · controlled entity

    Directly controlled by TOFEM

Provenance

Return type
form_990
Tax year
2024
Filed
16 November 2025
IRS schema version
2024v5.1
Source object
202503209349301810

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