Name: Albion College
Assets Under Management: $277.2 Million (Source: Albion College on 6/30/2010)
Portfolio Insights: Albion College (College) is a Michigan nonprofit, nonstock educational corporation that operates a private, selective, coeducational, residential institution of higher education affiliated with the United Methodist Church but non-sectarian in practice. The College is accredited by the Commission on Institutions of Higher Education of the North Central Association of Colleges and Schools.
The College’s endowments consist of 637 individual donor-restricted funds established for a variety of purposes. As required by GAAP, net assets associated with endowment funds are classified and reported based on the existence or absence of donor-imposed restrictions. (Source)
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Top Albion College Endowment Fund Headlines:
1) Albion College has developed a sustainability policy and includes sustainability components in the campus master plan and strategic plan. The Sustainability Council recently produced a climate action plan and has worked to install water bottle refill stations around campus. The college purchases Energy Star appliances, computers, and lighting. (Source)
2) Albion College is pleased to announce the appointment of Richard Zera as its first director of enterprise technology and chief information officer.
Mike Frandsen, vice president for finance and administration, notes that while the title is a new one for Albion, “the position isn’t really new. We’re emphasizing the fact that IT is not a back-office function,” Frandsen explained. “Rich heads a comprehensive division that impacts the entire enterprise. He’s a great hire for Albion.”
“I’m excited to be here, because of the manner in which faculty and staff respect each other, and care so very much about students and their success,” said Zera. “I’m hoping to build a shared vision with faculty and staff, where technology energizes the academic and administrative missions of the College.” (Source)
3) Albion College has a pioneering heritage, originally serving the educational needs of settlers’ children and Indians alike. Albion also is one of the earliest Midwest schools to introduce coeducation. Thanks to the efforts of Methodists who were early settlers of Michigan Territory, the College was awarded a charter by the Michigan Territorial Legislature in 1835. In 1850, the legislature approved the founding of the “Albion Female Collegiate Institute,” and in 1857 the two institutions merged under the name of “The Wesleyan Seminary and Female College at Albion.” On February 25, 1861, Albion was fully authorized by the State Legislature to confer a full four-year college degree upon both men and women. (Source)
4) Albion College was founded on the frontier of Michigan Territory nearly 180 years ago with a single primary purpose: to enhance, enrich, and empower its community, benefiting those who made the bold decision to head west and find the best place to build better lives for themselves and their families.
Well into the 21st century, that purpose is just as relevant. We still imagine ourselves as a frontier college. The frontiers are different—driven by intellectual, societal, and technological forces—and our mission is much broader, but our founders’ extraordinary efforts serve as a valuable guide. They confronted their challenges, and our community today is doing the same—like many communities across America facing similar challenges.
That means bold decisions must continue to be made, and Albion students, graduates, faculty, and staff together are doing just that. They are thoughtfully addressing the issues and making the decisions that not only are building our local and regional communities, but enriching society nationally and internationally. (Source)
5) The philosophy and mission of Albion College are reflected in four primary goals of the Music Department: To be an artistic presence on the campus and to share the rich heritage of great music with students, faculty and community; To expose students to and involve them with the creative process through music, to heighten students’ sensitivity to themselves and others, and to introduce them to a broad range of significant music; To develop an understanding of music, impart knowledge of music and increase musical skills by means of courses offered within the framework of the liberal arts; To provide courses and curricula for music majors so they may have the necessary foundation for graduate study, teaching, performing, or other career-oriented goals. (Source)