Elon University manages an endowment fund based in Elon, North Carolina. The university's endowment supports the people, programs, and facilities of the university in perpetuity. Through investment earnings and charitable gifts, Elon seeks to grow its endowment to support scholarships for students, professorships, and other opportunities to develop faculty, new initiatives, and maintenance of its facilities. The endowment is managed by the board of trustees.Elon University Endowment's investment portfolio is valued at $269.95 million, with investments in equity, fixed income, alternatives, and cash.