Endowment Transparency Act

The Endowment Transparency Act (S 2187) requires colleges and universities participating in federal student aid programs (Title IV) to publicly disclose detailed information about their endowment investments. Specifically, institutions must report total assets managed by investment advisers - broken down by asset class and whether advisers are minority- or women-owned - along with the number of advisers by gender and race, and the percentage of bond issuances underwritten by minority- or women-owned firms. This data will be published annually on the College Navigator website within one year of the bill’s enactment. The Minority Business Development Agency must then analyze the data and issue biennial reports with recommendations to increase the use of minority- and women-owned investment firms, while also convening conferences to share best practices.