A Message from David Palmer, Vice-President, Advancement, University of Toronto

A cornerstone of U of T’s efforts to foster excellence in learning, teaching and research is our Endowment.* The generous support of philanthropic donors is a critical foundation for our university’s high standards and for the outsized contributions our students, faculty, and alumni make to Canada and the world. Endowed gifts – invested to extend their value in perpetuity – build capacity for immediate investment in teaching and research priorities, enabling us to respond nimbly to rapidly evolving global challenges while sustaining life-changing opportunities for students over time.

Since its founding as U of T’s investment asset manager in 2000, UTAM has judiciously managed the Endowment to meet current needs while achieving significant returns over the long term. In UTAM’s first 25 years, the total value of the Endowment more than tripled, growing from just under $1.2 billion in May 2000 to over $3.9 billion by the end of U of T’s 2024–2025 fiscal year. Annual distributions from the Endowment totalled $1.8 billion over that period, providing vital support to students, faculty, academic programs and research. Of this total, more than $800 million was allocated to scholarships, bursaries and other types of direct financial support for students. U of T’s longstanding access guarantee – our pledge that no domestic student who has been offered admission will be turned away due to a lack of financial means – is strongly anchored in the Endowment.

The Investment Impact stories showcased on UTAM’s website highlight benefits that will endure far into the future. They reinforce the critical point that U of T’s financial sustainability – and the pursuit of our mission – are measured not in years, but in generations. This fundamental insight is summed up in U of T’s motto, velut arbor aevo: “may it grow as a tree through the ages.” The Endowment doesn’t simply fund current needs – it will keep on growing, under UTAM’s stewardship, so that future students and faculty can continue to transform the world for the better.

Nearly 17,500 donors gave to the university during our 2024–2025 fiscal year, and the total number of individual endowed funds grew to 7,500. Since its inception, the Endowment has been supported by over 90,000 donors across Canada and around the world. Their generous gifts of all sizes have been essential to the fulfilment of our mission. And their belief in the value of investing in the future is an inspiration to the entire U of T community.

Since 2021, the focal point for donor support has been our Defy Gravity campaign, which aims to raise an unprecedented $4 billion in support of teaching and research efforts targeting urgent social, environmental, economic and health-related challenges. The breadth and tempo of support for the campaign have been extraordinary: as of December 31, 2025, donors had given more than $2.5 billion, much of it in the form of long-term gifts that will further grow the Endowment.** At the same time, we’d reached 90% of our alumni engagement goals for the campaign. This reflects the deep and abiding affinity for the university and its community among our global network of passionate and involved alumni.

As we prepare to celebrate U of T’s 200th anniversary in 2027, the robust donor support and alumni engagement that have always been core to our story is stronger than ever and gaining momentum. Our students, faculty members and researchers, alumni and donors can be confident that the Endowment, under UTAM’s astute investment management, will sustain and amplify the impact of their efforts as our university enters its third century.