Luther College manages an endowment fund that is based in Decorah, Iowa. The college's endowment consists of approximately 800 individual funds established for a variety of purposes. Its endowment includes both donor-restricted endowment funds and funds designated by the governing board to function as endowments. The endowment fund provides annual funding in the form of income from investments, gifts, and donations from alumnae which supports the strategic initiatives of the college. The endowment is governed by the college's board of regents.Luther College Endowment's investment portfolio is valued at $165.31 million with investments in private equity, real estate, hedge funds, real assets, natural resources, publicly-traded equities, fixed income securities, and cash.