In recent years financial markets and businesses either outside or inside the country, have achieved substantial growth. But to some extent, non-profit institutions and companies in Iran left out of this growth. Regarding the development of instrumental and institutional innovations in financial markets that happens due to establishment of mutual funds, the fundraising ability of mutual funds and potentials of their mechanisms such as diversification and separability and on the other hand, the difficulties of non-profit institutions with funding have directed the attention toward the creation and establishment of nonprofit investment funds. There is an expectation that some weaknesses in the functioning of nonprofit organizations such as inability to finance operations and some constraints in maintaining liquidity, to be compensate with the specific advantages of investment funds (investment funds as a nonprofit). In Iran, most of the non-profit institutions such as endowment institutions try to earn suitable returns by investing in real-estate (returns earned due to high inflation). But in the years ahead, social goals of endowment and the possibility of the establishment of endowment funds through the capital markets can also create significant opportunities. Therefore, studying of performance and other properties of non-profit funds could be important. Given the novelty of these financial instruments, it can be expected that in the future by cultural development and providing better information for donors and managers of endowed institutions, their performance improves.