This research brief provides summary data on the size of endowments of U.S. colleges and universities. It notes the estimated market value of endowments, examines their growth from 1977 to 1987, contrasts data from independent institutions to those from public colleges and universities, indicates the heavy concentration of endowment in a relatively limited number of institutions, and notes the per student value of endowments and their contribution to current institutional revenues. Highlights reveal that: (1) the estimated market value of endowments at U.S. colleges and universities totaled $58.2 billion at the end of fiscal year 1987, with 82 percent of funds held by independent colleges and universities; (2) endowment per full-time-equivalent student increased by nearly 73 percent in constant dollars between 1977 and 1987; (3) annual endowment earnings (in constant dollars) that were contributed to institutions' current operating revenues increased from 1977-87 by about two-thirds; and (4) endowment earnings currently represent about half of 1 percent of current funds revenues in the public sector and 5.2 percent in the independent sector. The brief concludes that, nationally, endowment income cannot be looked upon as a major source of funding. Contains 4 end notes, descriptions of 8 data sources, and 10 references. (JDD)