Name: Alfred University
Assets Under Management: $241.4 Billion (Source:Alfred University on 6/30/2012)
Portfolio Insights: “Alfred University (the University) is a not-for-profit, coeducational institution of higher education located in Alfred, New York. The University is comprised of the privately endowed colleges of Liberal Arts and Sciences, Engineering and Business, as well as two statutory units – the School of Art and Design and selected programs within the School of Engineering – that the University administers under a contract with the State University of New York (the State).
The University’s endowment consists of investments that are managed to achieve a maximum long-term total return. The University’s Board of Trustees has authorized a policy permitting the use of total returns at a rate (spending rate) of approximately 5% of the average quarterly market value of its investment portfolio for the most recent three calendar years. To the extent that the total return requirement for the current year is not fulfilled by interest and dividends, the University utilizes the appreciation of its endowment and similar net assets for operating purposes.” (Source)
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Top Alfred University Endowment Fund Headlines:
1) A $35 million gift to Alfred University to support its visual and performing arts programs has the power to transform the 169-year-institution, said President Charles M. Edmondson in announcing the gift at a campus-wide meeting earlier today. The gift is the largest ever in AU’s history, and may be one of the largest endowment gifts made to a U.S. institution to support arts education. Faculty, staff and students were invited to Holmes Auditorium in Harder Hall to hear that the University’s most generous donor, Dr. Marlin Miller, Jr., a 1954 graduate of AU, as well as a member of its Board of Trustees and former chairman of the board, and his wife, Regina, will give a total of $35 million to support the University’s visual and performing arts programs. The commitment was made a year ago, Edmondson said, but at the Millers’ request was not announced to the Board of Trustees and campus until now. (Source)
2) Alfred University is an educational and research institution. The university’s colleges and schools include the College of Business, College of Liberal Arts and Sciences, College of Engineering and Professional Studies, College of Ceramics, School of Art and Design, School of Ceramic Engineering and Materials Science, and the Graduate School. Alfred University was founded in 1836 and is based in Alfred, New York. It has endowment assets worth $87.4 million. (Source)
3) W. Richard Stephens Jr., who is currently provost at Catawba College in Salisbury, NC, will join the administrative team at Alfred University as provost and vice president for Academic Affairs, effective July 1.
Stephens will succeed William F. Hall, who is retiring after 33 years at Alfred University, where he has been provost and academic vice president for the past three years.
“We appreciate Bill Hall’s service to Alfred University and we will miss him, personally and professionally, but we are pleased to be able to fill this critical role with Rick Stephens, a seasoned chief academic officer,” said President Charles M. Edmondson. (Source)
4) Alfred University will be nationally recognized as a preeminent, small comprehensive university dedicated to inspiring individuals and preparing them to excel intellectually and personally.
Alfred University aims to provide academically challenging programs in a student-centered environment in order to prepare well-educated, independent thinkers ready for lives of continuous intellectual and personal growth. We are committed to both teaching and research, and are devoted to the pursuit of technical expertise, artistic creativity and humanistic learning. (Source)
5) Dr. Charles M. Edmondson became the 13th president of Alfred University on July 1, 2000, after serving as vice president for Academic Affairs and provost at Rollins College in Winter Park, FL, for seven years.
President Edmondson had served Rollins College in various capacities over the past 30 years. Administrative positions included associate provost (1992-93); dean of the Hamilton Holt School (evening programs for adult students, 1991-93); and director of College Planning (1988-90). He joined the faculty at Rollins College in 1970 as an assistant professor of History, and was made a full professor in 1981. His research has focused on Soviet history.
President Edmondson was a visiting professor at Wuhan University, Wuchang, Hubei Province, People’s Republic of China, in 1983. He was named a Phi Beta Delta International Scholar in 1992, and received a Pew Faculty Fellowship in International Relations from the Pew Memorial Trust and the John F. Kennedy School of Government at Harvard University, 1991-92, and an Arthur Vining Davis Fellowship, 1991-92. (Source)