', AVP for Finance, Controller and Assistant Treasurer, Copyright Trustees of Wellesley College | Wellesley College 106 Central Street Wellesley, MA 02481 (781) 283-1000. 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. The National Association of College and University Business Officers (NACUBO) maintains information on college endowments. Copyright Trustees of Wellesley College | Wellesley College 106 Central Street Wellesley, MA 02481 (781) 283-1000, We encourage you to reach out for a one-on-one discussion about endowed giving opportunities by emailing, For more details about the College's endowment, including annual investment performance and endowment contributions to Wellesleys annual budget, see the. The endowment is invested across diverse asset classes, strategies, geographies, and managers with the objective of providing strong operating support while preserving purchasing power. 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. For public universities, the larger endowments are often associated with flagship state universities, especially those associated with a medical school. Ms. Mendillo, who previously ran the Wellesley College endowment, took over at Harvard in July 2008. Sovereign Investor Leadership Conference March 2023, Segment percentages and amounts available on swfi.com. Administration chose to increase the tuition, room and board cost for a total increase of $2,820 in the 2021-22 school year, joining dozens of other colleges, such as Juilliard and Harvard. More Emmett Jennett '15 Investment Associate Emmett Jennett joined Wellesley College as an Investment Analyst in July 2015. Suite 3200 Wellesley College Endowment General Information. Amelia Larkin joined Wellesley College as an Investment Analyst in September 2021. Cost cutting . In the early 2000s, as Williams' endowment rose above the $1 billion mark, we knew our increasingly complex portfolio and expanding group of outside investment managers would eventually require full-time professional oversight. It's always an opportunity to develop your skills and to help somebody else achieve their entrepreneurial ambitions. The money raised for the endowment will go towards a multitude of purposes, including helping students fund their education and supporting professor An endowment is the total value of a school's investments, donations, and assets. Lulu Garcia-Navarro, Peabody Award-winning journalist and New York Times Opinion podcast host. Some universities benefit from endowments that are not under their direct control but which are nonetheless dedicated to the welfare of one or several institutions. Today's 38,000+ jobs in Hauts-de-France, France. Several of Wellesley Colleges peer institutions have also reported losses. 1Public Equity Blended Benchmark is a weighted average of MSCI ACWI, MSCI EAFE, MSCI EM and Russell 3000. In their annual report released earlier this month, the Wellesley College Investment Office reported that the endowment experienced 46.5% growth in the 2021 fiscal year, a record high. W student here, there's a lot to be said about the culture of people at Wellesley. Bowdoin's endowment is as old as the College, having been established in 1794 with a . 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. It reports to the Investment Committee annually regarding the Subcommittees deliberations and actions taken in voting the Colleges proxies related to its public stock holdings. Your email address will not be published. Despite this increase, exposure as a percent of the portfolio fell as managers holding of public equity declined and other parts of the portfolio outperformed energy. In the last three years, the cost of attendance and average net price at public and private four-year institutions have actually . 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. Wellesley has the largest endowment of the Seven Sister. You can learn more about these opportunities here or by contacting Betsy Carpenter '93, associate vice president for development, at [email protected] or 413-585-2052. 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. 10 Ice Spice lyrics that are actually about Wellesley. Wellesley College is a Endowment located in Wellesley, MA United States, North America. More Debby Kuenstner '80 Chief Investment Officer Staff | Wellesley College Investment Office Staff Rose Carpenter Deputy CIO Rose Carpenter joined Wellesley College in September 2009 and serves as Deputy CIO. This growth added $958 million to the endowment, bringing its value to $3.22 billion as of June 2021. 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. Wellesley College's Investment Office manages an endowment fund that is based in Wellesley, Massachusetts. Request Profile Update Download Data $2,991,368,000 Assets 10 Contacts Home Profiles Endowment North America Endowment: General, 1985-1991 File Box: 77, Folder: 27 Citation Information Staff Only Wellesley College Archives; Records of the President's Office . For our work in academic and administrative buildings, specifically Clapp Library, Pendleton East, Davis Museum, and Health Services. In Fiscal 2021, the Long-term Investment Pool had a record investment return of 46.5%. Wellesley Colleges endowment return fell by roughly $291 million in the 2022 fiscal year, the first year of negative return since 2017. The $500,000 is not adjusted for inflation, so the threshold is effectively lowered over time. Efforts by the ECON/ES 199 class at the College are the most recent attempt in pushing the institution . Wellesley College is a private institution that was founded in 1870. The total cost of attendance includes tuition and fees, books and supplies, and living expenses, as reported for the 2019-2020 school year. Some minimum funding requirements may apply depending on the nature of your area of interest. Wellesley student orgs lead collection drive and fundraiser for relief, BSA hosts International Mother Language Coffeehouse, Renowned photographer gives energetic artist talk, The Starling Girl Brings Agency to the Forefront. On June 30, 2021, the portfolios exposure to fossil fuels was 2.9%, down from 3.7% a year earlier. Wellesley College; The Ivy League vs. the Almost-Ivies. Deborah F. KuenstnerChief Investment Officer, 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. Listed on 2023-02-25. 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 . At Wellesley, the creamy treats are distributed through Hershey's Colleges and Universities ice cream program. Donors receive annual reports on their endowed fund's performance. 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. 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. 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. The endowment returned 8.8% for the fiscal year ended June 30, 2020. After such a financially challenging year, this is a remarkable result. 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]. Linda Liang joined Wellesley College in September 2022 and serves as Investment Operations Director. Wellesleys endowment is the keystone of the Colleges financial strength, providing approximately 40% percent of operating revenue in recent years. Contact Alumnae Relations & Development 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. Job specializations: Finance. ", "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. How will the DOLs finalized rules impact ESG investing? Tuition and fees (in-state) $56,052. Bonds suffered as yields rose in anticipation of improved economic activity, and short-term interest rates remained depressed. With the launch the Wellesley Effect campaign in October, Wellesley College has been on the receiving end of several large donations, many of which will become a part of the College's growing endowment. Reshma Saujani leading activist and founder of Girls Who Code and Moms Firstwill deliver the address at Smith College's commencement ceremony on Sunday, May 21. Strong returns in fiscal year 2020-21 led the largest university endowments to soar. Wellesley College's Endowment. The Investment Committee and Investment Office team regularly review the expectations upon which the Policy Portfolio is based, with the goal of refining target allocations and improving the portfolios risk and return characteristics. 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 . Strong returns in fiscal year 2020-21 led the largest university endowments to soar. Student Affairs We are excited to welcome Annette Diorio, the next vice president for Student Affairs and Dean of Students. 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. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. As of 2021[update], the total stood at $854.11 billion, with an average across all institutions of $1.1621 billion and median of $2.0102 million. Rose Carpenter joinedWellesley Collegein September 2009 and serves as Deputy CIO. Equity markets were buoyed by a turnaround in earnings, and real assets benefited from supply-demand imbalances as economies recovered. The endowments investment returns are strong compared to a variety of common yardsticks. It should go to Donor Relations Development Services (DR/DS) to be processed. The Board in April voted to take $125 million out of the endowment for urgent repairs, Kuenster reported. As a result, the portfolio enjoys significant, mature exposure to venture and growth. She also estimates that there will be a spending bump in the 2024 fiscal year. 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. bookstore, conference services, golf course, etc.). 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. The Investment Office manages Wellesley College's $3.2 billion endowment. Watts said the college grew its endowment by about $45 million in the 2013 budget year and is working to cut spending. 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. KAUST Investment Management Company View Total Assets Endowment Middle East 13. No commitments to such funds have been made since 2017. 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. According to Chief Investment Officer, Debby Kuenstner, the losses were driven primarily by the poor performance of financial markets, which include public equities, hedge funds, fixed income, and private investments, which yielded negative returns. The Wellesley College Board of Trustees is responsible for the investment of the College's Endowment. Another yardstick is performance versus peers. 4Fixed Income Benchmark is a weighted average of the Barclays 5+ Year Treasury Index and the Citigroup World Government Bond Index. 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. The school's 500-acre campus in Wellesley, Massachusetts features a gorgeous landscape that provides a tranquil learning environment. 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. The principal (gift amount) will be invested in perpertuity and the income earned from this investment will be used for the purpose designated by the donor. The goal of endowment and restricted gifts accounting is to uphold the Controllers 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. Description. 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. 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 . Saujani will receive an honorary degree at the event. Dartmouth College with its $6 billion endowment estimates it will pay $4.5 million in new taxes. 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