The portfolio has sufficient exposure to liquid investments to maintain the endowments financial support of the Colleges operations and to provide for the liquidity needs of the portfolio. Established in 1919, its central focus is on entrepreneurship education . The Investment Office serves Wellesley College's missionto provide an excellent liberal arts education for women who will make a difference in the worldthrough the management and oversight of key College financial assets and benefit plans. So our belief was that the fiscal and monetary policy during that period had pulled returns forward and that there would be some correction.. Contact Alumnae Relations & Development In executing the investment strategy, the Investment Office team aims to add value within asset classes through long-term partnerships with strong performing, highly ethical investment managers. Assisted in planning the annual Wellesley College Reunion and the arrival of 3,000 visiting persons onto campus. No new commitments to private equity oil and gas funds have been made since 2017. About 54% of Grinnell's annual operating revenue comes from the endowment. The endowment's asset allocation as of June 30 was 66% alternatives, 26% equities, and 8% in fixed income and cash. By 2015, the table totaled $394.96billion, an increase of 80%, and in 2018, the total further increased to $479.23billion. The Babson College Fund (BCF) is an accredited course in which specially selected undergraduate and graduate students manage $4 million of the Babson College endowment. More Emmett Jennett '15 Investment Associate Emmett Jennett joined Wellesley College as an Investment Analyst in July 2015. Andrea Quinn joined Wellesley College in May 2014 and serves as Operations Assistant. [12] Repeal legislation with bipartisan cosponsorship was introduced, but not passed, by both the 115th United States Congress[13] and 116th United States Congress.[14]. Investment OfficeNehoiden HouseWellesley College91 Dover RoadWellesley, MA 02482, Debby Kuenstner, Chief Investment Officer, Copyright Trustees of Wellesley College | Wellesley College 106 Central Street Wellesley, MA 02481 (781) 283-1000. You can see the balance in the gift in 'FIN Gift Spendable Balance. She also estimates that there will be a spending bump in the 2024 fiscal year. $75,198 per year. She begins her new role at Union on Jan. 2, 2023. ', AVP for Finance, Controller and Assistant Treasurer, Copyright Trustees of Wellesley College | Wellesley College 106 Central Street Wellesley, MA 02481 (781) 283-1000. I believe that the College will be well served by its strategy of broad diversification across asset classes, geographies, and strategies, and by the excellent investment managers with whom we partner. University of Notre Dame View Total Assets Endowment North America 12. For example, a donor my give the College a $1,000,000.00 with the intent that the income earned will go to support Financial Aid. Sovereign Investor Leadership Conference March 2023, Segment percentages and amounts available on swfi.com. America's wealthiest colleges and universities saw their endowment returns take off in fiscal year 2021 after dismal average returns the year prior. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. [7][8], The endowment tax provision of the Tax Cuts and Jobs Act has been criticized as funding tax breaks for corporations and the wealthy at the expense of education. Your email address will not be published. The four largest [private] endowments Harvard, Yale, Stanford, and Princeton increased in value from $127.24 billion to $171 billion in a single year.[3][4][5][6]. yAy!!!) Support a healthy tomorrow with your gift today. With an $887.4 million endowment last year, 186-year-old Oberlin is wealthier than most small private institutions, but far behind its wealthier peers -- colleges like Amherst, Swarthmore and Wellesley all reported endowments at or near $2 billion. Investment performance drove the June 30, 2021 value of the pool to $3.226 billion, an increase of $958 million from the prior year. Members of the College community with questions, suggestions, or thoughts about the management of the Wellesley College endowment are invited to contact me at any time. Wellesley College posted a 46.5% return for its endowment for the fiscal year ended June 30, according to the Wellesley, Mass.-based college's annual report. By 2015, the table totaled $394.96 billion, an increase of 80%, and in 2018, the total further increased to $479.23 billion. Ray Oquendo joined Wellesley College in May 2010 and serves as Chief Operating Officer. Wellesley College has a long history of providing an excellent liberal arts undergraduate education for women. Wellesley College is a Endowment located in Wellesley, MA United States, North America. Investment OfficeNehoiden HouseWellesley College91 Dover RoadWellesley, MA 02482, Debby Kuenstner, Chief Investment Officer, Copyright Trustees of Wellesley College | Wellesley College 106 Central Street Wellesley, MA 02481 (781) 283-1000. Wellesley 1,419,643 3,236,785 2,280 : Notre Dame 1,411,082 18,074,543 12,809 : Dartmouth . When Volent took on her position in the summer of 2000, Bowdoin's endowment stood at just over $465 million; in the year ended June 30, 2020, the endowment had gained 5.9 percent, growing to $1.8 billion, providing nearly $72 million to the annual operations of the College last year, including $33 million for need-based financial aid. During FY21, the value of the portfolios fossil fuel exposure increased to $94.5 million from $84.7 million the year before as the value of private equity oil and gas interests recovered. At Wellesley, the creamy treats are distributed through Hershey's Colleges and Universities ice cream program. Additional gifts will result in increased income. Though Hershey does not list bulk prices for its ice cream in Massachusetts on its website, a 2007 New Jersey government document states that each three-gallon bulk container of ice cream, frozen yogurt or sorbet sells for about $24. Wellesley College's Endowment. Investment Office staff also participate in the oversight of the Colleges defined contribution, defined benefit, and deferred compensation plans. Board of Trustees to vote on divestment in late April. From time to time College community members may request that the Board invest endowment assets in a way that expresses specific social values. Debby Kuenstner 80 is Wellesley's chief investment officer. Sign up and get the best of News delivered straight to your email inbox, free of charge. This growth added $958 million to the endowment, bringing its value to $3.22 billion as of June 2021. Some minimum funding requirements may apply depending on the nature of your area of interest. 8, it trails behind nearly 200 academic institutions in doing so. ", "Why the Endowment Tax Is Unconstitutional", "H.R.5220 - Don't Tax Higher Education Act", "H.R.4438 - Don't Tax Higher Education Act", "U.S. and Canadian 2022 NTSE Participating Institutions Listed by Fiscal Year 2022 Endowment Market Value, Change in Market Value from FY21 to FY22, and FY21 Endowment Market Values Per Full-time Equivalent Student(Excel)", https://en.wikipedia.org/w/index.php?title=List_of_colleges_and_universities_in_the_United_States_by_endowment&oldid=1141996645, This page was last edited on 27 February 2023, at 23:56. Wellesley College posted a 46.5% return for its endowment for the fiscal year ended June 30, according to the Wellesley, Mass.-based college's annual report. Wellesley College's Investment Office manages an endowment fund that is based in Wellesley, Massachusetts. Your gift to Wellesleys endowment will provide a lasting source of financial strength for the College, safeguarding our future and ensuring that Wellesley can continue to fulfill its mission regardless of economic climate. Listed on 2023-02-25. Consideration of the endowments of the Seven Sisters' and the Ivy's recognized that while the endowments of the top men's schools together came to about $319,000,000, the Seven Sisters' endowments totaled only $36,000,000. The money raised for the endowment will go towards a multitude of purposes, including helping students fund their education and supporting professor [3] Wellesley is frequently considered to be one of the best liberal arts colleges in the United States. It should go to Donor Relations Development Services (DR/DS) to be processed. The Subcommittee on Investment Responsibility (SIR), is composed of Trustees, faculty, staff, and students and is responsible for proxy voting and making recommendations to the Investment Committee related to shareholder responsibility. Despite a decline in this years endowment, the Colleges spending for the next two fiscal years will not significantly be affected, given previous positive returns. For public universities, the larger endowments are often associated with flagship state universities, especially those associated with a medical school. Equity markets were buoyed by a turnaround in earnings, and real assets benefited from supply-demand imbalances as economies recovered. The Public Ivies, the Little Ivies, and many other non-Ivy schools can . The goal of endowment and restricted gifts accounting is to uphold the Controller's Office mission by providing high quality and efficient accounting services on endowments and restricted gifts to faculty, staff, and administration and to ensure the proper recording of donor's gifts. Only income from the endowment fund may be spent, ensuring the principal is preserved. The schools we've detailed on this list represent the top 25 choices for an affordable liberal arts college with the best return on investment. Since 1875, Wellesley College has been a leader in . Endowment and restricted gifts accounting aims to provide: Clear, concise and timely dissemination of policies and procedures related to endowment and restricted gifts, Proper recording of gifts in the financial system to ensure compliance with donor's intentions, Information to departments with restricted gifts so that gifts are spent in accordance with donor's intentions, Professional and helpful interactions with the College community and external banks on all endowment, restricted and planned giving gift accounting matters, Mailing address:Wellesley CollegeController's Office106 Central St., GRH139Wellesley, MA 02481-8203, Higher Education Emergency Relief Fund (HEERF), AVP for Finance, Controller and Assistant Treasurer, Copyright Trustees of Wellesley College | Wellesley College 106 Central Street Wellesley, MA 02481 (781) 283-1000. The difference between the portfolio and the benchmark is a measure of the value added by the Investment Office and the Colleges investment managers. To consistently deliver news, research and analysis to the executives who manage the flow of funds in the institutional investment market. The Investment Office serves Wellesley Colleges missionto provide an excellent liberal arts education for women who will make a difference in the worldthrough the management and oversight of key College financial assets and benefit plans. The $500,000 is not adjusted for inflation, so the threshold is effectively lowered over time. How will the DOLs finalized rules impact ESG investing? Wellesley College strives to be a responsible investor. Today's 38,000+ jobs in Hauts-de-France, France. An endowment is the total value of a school's investments, donations, and assets. We encourage you to reach out for a one-on-one discussion about endowed giving opportunities by emailing giving@wellesley.edu. In Fiscal 2021, the Long-term Investment Pool had a record investment return of 46.5%. Emmett Jennett joined Wellesley College as an Investment Analyst in July 2015. Endowment per Student is a good indicator of the amount of aid it is likely to grant. Mailing address:Wellesley CollegeController's Office106 Central St., GRH139Wellesley, MA 02481-8203, Higher Education Emergency Relief Fund (HEERF). Main Office The Board of Trustees believes that proxy voting can encourage corporate actions that enhance shareholder value and reflect the College's values. There are many great smaller and lesser-known colleges that offer an excellent education at a more affordable rate, especially when you take ROI into account. Wellesley total enrollment is approximately 2,280 students. Tuition and fees (in-state) $56,052. During Walsh's tenure, the value of the Wellesley College endowment has grown from $485 million to more than $1.3 billion. Strong returns in fiscal year 2020-21 led the largest university endowments to soar. The Wellesley College endowment had a market value of $3.2 billion as of June 30, 2021. When we had the 46.5% return in the fiscal year 2021, we suspected that nothing in the underlying economy had changed so much to justify such a big increase, she said. It is currently 5 percent of the endowment's value averaged over 12 quarters. View the 'FIN Gift Spendable Balance' for the gift. Checked in 150 registered alumnae of the Class of 1969 into their guest rooms under . never heard of it. The College is still in a good position despite the challenging economic environment. The other 80% is derived from last years amount of spending, adjusted for inflation. The Wellesley College Board of Trustees is responsible for the investment of the College's Endowment. It was a women-only institution at a time when women were generally denied access to higher education. She created an endowed scholarship fund to support the College. We invest with a long-term outlook to provide enduring support to the College in such key areas as student financial aid, faculty recruitment and retention, academic programs, and facilities. Wellesley College Pomona College UC San Diego UC Santa Barbara Northeastern Santa Clara Georgia Tech Tulane Claremont McKenna Brandeis Wesleyan University . Donors receive annual reports on their endowed fund's performance. These institutions are exclusively private. Examples include The Duke Endowment, the Robert A. Welch Foundation, and the Roy J. The Board is committed to investing in a manner consistent with the College's mission, values and principles. The college's large endowment pays for about a half of it, even for the students paying full tuition. [3] Work at the Investment Office centers on selecting and monitoring investment . Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. The total cost of attendance includes tuition and fees, books and supplies, and living expenses, as reported for the 2019-2020 school year. Mary Almy was the architect. The lavish spending was made possible by the earnings from Harvard's $36.9 billion endowment, the world's largest. Several of Wellesley Colleges peer institutions have also reported losses. Year by year, the College has been steadily increasing the total cost of attendance, and the 2021-2022 school year was no exception. Endowment and restricted gifts accounting aims to provide: The SIR evaluates these requests and may decide to recommend action to the Investment Committee. I'm applying there and rejection is always a thing. It. Wellesley Colleges endowment return fell by roughly $291 million in the 2022 fiscal year, the first year of negative return since 2017. It's not like that at all colleges. Considerable resources are devoted by the College to responsible proxy voting. Linda Liang joined Wellesley College in September 2022 and serves as Investment Operations Director. Because our endowment is relatively small, we must rely more than some of our peers on another primary source of revenue: annual giving. Walsh recently led a five-year comprehensive fundraising campaign, which closed in October 2005 after raising $472.3 million, a record for a liberal arts college. Dartmouth College with its $6 billion endowment estimates it will pay $4.5 million in new taxes. In all cases, the groups responsible for appointing representatives are asked to make two-year appointments, on a staggered basis where the group is responsible for appointing multiple representatives, to maintain continuity in Subcommittee discussions. Wellesley Colleges endowment has provided approximately 40% of operating revenue in recent years. The Wellesley College Board of Trustees is responsible for the investment of the College's Endowment. Saujani will receive an honorary degree at the event. Wellesley Collegehas cross-registration and dual-degree programs with Massachusetts Institute of Technology, Olin College, and cross-registration with Brandeis Universityand Babson College. Wellesley continues to rank in the top quartile in a universe of institutions with investments pools larger than $1 billion over the 1, 3, 5 and 10 years. Smith's endowment, now valued at more than $2 billion, funds more than one-third of the college's operating budget and enables the college to invest in such key areas as student financial aid, faculty recruitment and retention, and strong academic programming. The actual cost of attendance was well over $80,000 per student just a few years ago. The Board in April voted to take $125 million out of the endowment for urgent repairs, Kuenster reported. For example, a donor my give the College a $1,000,000.00 with the intent that the income earned will go to support Financial Aid. Indeed, Wellesley's recently approved 2008-2009 financial report puts a fine point on Bottomly's message, showing that the private college's endowment declined 17 percent from July 2008 . Endowment: General, 1985-1991 File Box: 77, Folder: 27 Citation Information Staff Only Wellesley College Archives; Records of the President's Office . It's a rewarding and invigorating workplace - an exciting launch pad for anyone who . Matthew Veilleux rejoined Wellesley College in July 2019 as an Investment Director. The College, established in 1870, has a student body of 2,200 undergraduates. Wellesley College Cost Breakdown. Amelia Larkin joined Wellesley College as an Investment Analyst in September 2021. It reviews and amends the proxy voting policy annually. The Colleges well-diversified portfolio has exceeded a hypothetical portfolio of 65 percent stocks and 35 percent bonds over the last 5, 10 and 15 years. Over the long term, we have had top quartile investment returns, she said. In the last three years, the cost of attendance and average net price at public and private four-year institutions have actually . . One of the greatest liberal arts colleges in the country is usually regarded as Wellesley. Listing for: Wellesley College. The funds from restricted gift or income distribution get carried over each year. The three key reasons why people thrive here are: The SIR also may make recommendations directly to the Investment Committee on issues that are raised by Subcommittee members. Still, the immediate challenge of inflation may put pressure on the endowments support for the budget, given the unpredictable nature of the economy. Tuition and fees (out-of-state) $56,052. In fiscal year 20202021, total operating expenditures were $195.6million. The College Scorecard of the U.S. Department of Education says undergraduate "salary after completing" ranges between $25,000 and $45,000 a year, the former figure lower than what a full-time. Strong returns in fiscal year 2020-21 led the largest university endowments to soar. As of 2021, the total stood at $854.11 billion, with an average across all institutions of $1.1621 billion and median of $2.0102 million. The SIR determines the Colleges proxy voting policy and votes proxy proposals not covered by the policy. In 2019, Wellesley's endowment of $2.2 billion ranked 49th among all American colleges and universities and is the largest among women's schools. Suite 3200 The Need for Speed in Trend-Following Strategies, Global Fixed Income: Volatility and Uncertainty Here to Stay, Morningstar Indexes' Annual ESG Risk/Return Analysis, 2023 Outlook: The Top Five Trends to Monitor in the Year Ahead, Show Me the Income: Discovering plan sponsor and participant preferences for cr, The Future of Infrastructure: Building a Better Tomorrow, For institutional investors, ETFs can make meeting liquidity needs easier, Gold: the most effective commodity investment, 2021 Investment Outlook | Investing Beyond the Pandemic: A Reset for Portfolios, Ten ways retirement plan professionals add value to plan sponsors. We use a blend of 65 percent stocks (as measured by the MSCI ACWI) and 35 percent bonds (as measured by the Citigroup World Govt Bond Index). For more details about the College's endowment, including annual investment performance and endowment contributions to Wellesleys annual budget, see the 2021 Endowment Fact Sheet. 2008-2023 Sovereign Wealth Fund Institute. The income is posted to the gift in twelve postings. Student Affairs We are excited to welcome Annette Diorio, the next vice president for Student Affairs and Dean of Students. Investment Director. 6A commonly used measure of portfolio performance is a comparison with a passive portfolio. But Watts said the endowment, which he said ranges from $500 to $700 million, is smaller than the endowments of other colleges in Oberlin's peer group. Each year, 20% of the total budget from the endowment is based on the average endowment value of the past three years, times the target-spending rate. These included: IBM Corporation, State Street Boston Corporation, WGBH Broadcasting and . This report displays the balance forward, the annualized net income distribution, net activity and the current balance. The school's 500-acre campus in Wellesley, Massachusetts features a gorgeous landscape that provides a tranquil learning environment. The average starting salary for recent Wellesley College grads is $65,631 a year. Despite a highly challenging investment environment, our endowment is at nearly $502 million. The program is for highly self-motivated individuals with a strong interest in finance and investments. Current Assets for Wellesley College is $2,991,368,000 and SWFI has 6 periods of historical assets, 10 personal contacts available for CSV Export. More Debby Kuenstner '80 Chief Investment Officer The bill specifies that the tax will be imposed on colleges and universities whose "aggregate fair market value of the assets of which at the end of the preceding taxable year . bookstore, conference services, golf course, etc.). It's honestly not for everyone. Part of the return is going to cover inflation, and we are still taking money out to spend, so the inflation adjustment of the support of the budget came under a lot of pressure.. The Public Ivies also report smaller endowments than the Ivies and these endowments must stretch further because of their larger student bodies. Here you'll find a collaborative, collegial team environment designed to include and motivate every individual. [9][10] Critics note that the tax could threaten financial aid for low-income students, stifle social mobility, and obstruct life-saving research. The National Association of College and University Business Officers (NACUBO) maintains information on college endowments. Grinnell College has three primary sources of revenue: 1) the annual endowment spending distribution, 2) revenue from students, and 3) philanthropic support, plus other auxiliary operations (e.g. Columbia University in the City of New York $24,698,782,000 Endowment North America 11. [10][11] There continue to be vigorous efforts that advocate the repeal of the tax. Wellesley Undergraduate Population Male/Female Breakdown of Undergraduates The full-time Wellesley undergraduate population is made up of 100% women, and 0% men. It's always an opportunity to develop your skills and to help somebody else achieve their entrepreneurial ambitions. On June 30, 2021, the portfolios exposure to fossil fuels was 2.9%, down from 3.7% a year earlier. While many previous student organizers had hoped that Wellesley College would be a leader among other universities and colleges in divesting from fossil fuels, as of Mar. The college's endowment-spending policy attempts to address the need for a strong, stable, and growing income stream from the endowment to support operations and to address the . Many institutions of higher education in the United States maintain financial endowmentssums of money that are invested in stocks, yielding returns that fund a portion of an institution's operational expenses and help ensure it survives in perpetuity. 685 Third Avenue For more details about the College's endowment, including annual investment performance and endowment contributions to Wellesley's annual budget, see the 2021 Endowment Fact Sheet. Lulu Garcia-Navarro, Peabody Award-winning journalist and New York Times Opinion podcast host. After such a financially challenging year, this is a remarkable result. Wellesley Racial/Ethnic Breakdown of Undergraduates The Finance and Investment Offices oversee the financial responsibilities of the College which include the budget, financial planning, endowment and debt management, and stewardship of financial resources. Choose your news we will deliver. In the discharge of its fiduciary duty, the Board is mindful of the role that endowment returns play in the College's accomplishment of its own socially significant mission. In 2017, a federal endowment tax was enacted in the Tax Cuts and Jobs Act of 2017 in the form of an excise tax of 1.4% on institutions that have at least 500 tuition-paying students and net assets of at least $500,000 per student. Room and board. For the five, 10 and 15 years ended June 30, the $3.2 billion endowment returned 16.5%, 11.7% and 9.8%, respectively, vs. their respective benchmarks of 14%, 9.9% and 8.4%. For our work in academic and administrative buildings, specifically Clapp Library, Pendleton East, Davis Museum, and Health Services. 65,631 a year endowments than the Ivies and these endowments must stretch further because of their larger bodies! 1,419,643 3,236,785 2,280: Notre Dame 1,411,082 18,074,543 12,809: Dartmouth inflation, so the threshold is effectively over... 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And average net price at public and private four-year institutions have actually spent, ensuring the principal preserved! Rooms under 2, 2023 Universityand Babson College June 2021 one-on-one discussion about endowed giving by.