Iowa State University Foundation (ISU Foundation) manages an endowment fund that is based in Ames, Iowa. Established in 1932, each endowed fund is managed and tracked separately within the foundation's financial system. All individual endowed funds are invested as a combined pool, with each fund owning a pro-rata share of the total value and receiving a pro-rata share of the pool's overall investment return. The foundation's investment and spending guidelines are overseen by the investment committee of the board of directors.Iowa State University Foundation's investment portfolio is valued at $930.8 million as of June 30, 2020, with investments in domestic and international equity, natural resources, infrastructure, fixed income, private equity, real estate, hedge funds, cash, and other investments.