Although minority-serving institutions (MSIs) educate nearly one fifth of the nation's college students, there is to date little research on MSI's return on investment (ROI). To address this, the University of Pennsylvania and Educational Testing Service commissioned four papers focusing on the ROI for MSIs, which were presented originally in December 2015 at the National Convening on Return on Investment for Minority Serving Institutions. This report contains the four papers presented at the seminar, as well as an introduction: (1) Introduction (Marybeth Gasman, Andrés Castro Samayoa, William C. Boland, Amanda Washington, Chris D. Jimenez, & Paola Esmieu); (2) Return on Investment for Hispanic-Serving Institutions in Texas: A Comparative Analysis of Institutional Types (Toby J. Park, Stella M. Flores, Christopher J. Ryan, Jr., & Chris D. Jimenez); (3) Reframing Return on Investments for Tribal Colleges and Universities: Aligning Analyses With Tribal Priorities and Educational Missions (Stephanie Carroll Rainie & Ginger C. Stull); (4) A Return on Investment Analysis for Black Graduates of Historically Black Colleges and Universities: Insights From Three Studies (Terrell L. Strayhorn); and (5) The Return on Investment for an AANAPISI-Funded Program: Outcomes for Asian American and Pacific Islander Community College Students (Cynthia M. Alcantar, Margary Martin, Bach Mai Dolly Nguyen, Robert T. Teranishi, & Jossie Muñoz).