These are the 20 largest endowments and foundations in the US

They have billions of dollars under management and investments in areas as varied as coal, US Treasury bonds, and sub-Saharan Africa real estate.No, these aren't private equity or Wall Street's biggest hedge funds.These are nonprofit organizations serving higher education, healthcare, and the arts.Based on second-quarter data from 2014, the finance research and data site Graypools compiled a list dominated by higher-education institutions and interspersed with healthcare funds, art-preservation societies, and financing cooperatives.Here are the top 20 foundations and endowments in the US by gross assets, based on their regulatory filings with the IRS.Note: Gross assets data comes from Graypools, which may "significantly inflate an organization's "size" by failing to adjust for fully-secured liabilities, such as mortgages on development real estate."1. President and Fellows of Harvard CollegeAbout: This refers toa portion ofHarvard University's endowment fund.ThePresident and Fellows of Harvard Collegeisapermanent endowment, made up of some 12,000 funds set up to support professorships, financial aid, fellowships, and student activities. It is run by Harvard University's governing body, the 12-member President and Fellows of Harvard College.Harvard distributed about $1.5 billion in the 2012 fiscal yeara third of its operating revenue.Gross Assets: $56.37 billion2. Kaiser Foundation HospitalsAbout:Kaiser Foundation Hospitals is anonprofit entity under the umbrella of the healthcare giant Kaiser Permanentethatoffers a network of hospitals, physicians, and healthcare plans.Kaiser Foundation Hospitals is partnered with several healthcare providers around the country, with some10.1 million members in itsnetwork.The gross assets represent the value of the network's 38 hospitals, 600-plus medical office buildings, and the land they sit on, said Marc Brown, manager of the media-relations department at Kaiser Permanente.Gross Assets: $20.81billion3. Yale University Investment fundAbout: Yale University's investment fund reported a 20-year return of 13.9% per annum, giving $20.6 billion in relative value added support to the Ivy League.The University estimates that in the fiscal year that ended in June 2014, the endowment's invested donations under management totaled $23.9 billion.The revenues go toward professorships, scholarships and prizes, maintenance, books, and more.Gross Assets: $28.32 billion See the rest of the story at Business Insider NOW WATCH: People were baffled by 50 sharks circling in shallow waters off the English coast
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