The final 2016 report provides the most comprehensive analysis of endowment investment returns, asset allocations, and governance policies and practices at 805 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. More than 110 figures -- tables, charts, and graphs -- include data on investment performance, asset allocation, spending rates and policies, institutional debt, management expenses, and governance issues. [For the 2015 report, see ED595078.]