The "2021 NACUBO-TIAA Study of Endowments" (NTSE) provides the most comprehensive analysis of endowment investment returns, asset allocations, and governance policies and practices at hundreds of U.S. higher education institutions and affiliated foundations. The report provides extensive data to help institutions evaluate their investment returns and compare results by endowment size and institution type. [Additional sponsorship for this report came from Russell Investments, State Street Global Advisors, Crewcial Partners, SEI Investments, and Signatory Capital Advisors. For "2020 NACUBO-TIAA Study of Endowments," see ED612013.]