The University of Notre Dame released its 2024 annual report to faculty and staff on Jan. 16, 2025.
Notre Dame reported a record-breaking $591 million in philanthropic contributions, a 48% increase from the previous year. The University’s endowment achieved a 10% return, a marked increase from last year’s 1.32% return. The endowment’s payout for fiscal year 2024 totaled $607 million, with $232 million allocated to scholarships and fellowships. Over half of the incoming undergraduate class received need-based financial aid, reinforcing the University’s commitment to accessibility.
Additionally, total operating revenues reached $1.76 billion, a 7.5% increase from 2023, while operating expenses were $1.67 billion. Investments in academic and research programs accounted for the majority of expenses, totaling over $1 billion.
The University awarded 4,038 degrees in 2024, a new record. Research awards surpassed $223 million, marking the fourth consecutive year of surpassing $200 million, supported by significant federal funding from the National Science Foundation and other agencies. In total, 1,130 research proposals were submitted, marking a 31% increase year-over-year.
Under the current strategic framework, the University launched new multidisciplinary initiatives addressing global challenges in poverty, democracy, sustainability and health. Notable advancements include the ongoing expansion of the McCourtney Research Complex and the establishment of a need-blind, loan-free admissions policy for domestic and international students, set to take effect in 2025.
The fiscal 2024 year saw $215 million in capital investments, including the opening of the Raclin Murphy Museum of Art and progress on the Southeast Campus Geothermal Plant. The latter is a cornerstone of Notre Dame’s commitment to achieving carbon neutrality by 2050.
University president Fr. Robert Dowd emphasized the University’s dedication to creating a community of learning and service.
“Rooted in our Catholic mission, let us together be that great force for good that our founder, Rev. Edward Sorin, C.S.C., envisioned,” he wrote.
