We are pleased to report that the endowments of the University and its Foundations performed well, when compared to other endowments, in a very volatile market during the Foundation's fiscal year 2022 (January 1, 2022-December 31, 2022). Although the endowments declined by 9.64% over the year, our 10-year performance of 7.82% still exceeded our long-term 7.0% goal. We are also pleased that our June 30, 2022, performance was in the top 10% of investment returns reported by 690 Colleges and Universities in a national survey.
Over the long term, we, like most endowment managers, are cautious about future market conditions, as evidenced by the market's performance over the last eighteen to twenty-four months. We continue to identify and fund high quality, diversified investments in both public and private markets that include equity, fixed income and real assets. We remain disciplined in our approach, knowing that the markets cannot be timed, and we are committed to a strategic asset allocation that provides risk-reducing diversification. The Foundation will continue in its goal of structuring an investment program that will provide future generations of Monarchs with enhanced and substantial private financial support.