Name: Ana G. Mendez University System
Assets Under Management: $263 Million (Source: Ana G. Mendez University System on 6/31/2012)
Portfolio Insights: “Audited financial statements of Sistema Universitario Ana G. Mendez (SUAGM or the Institution) as of and for the years ended July 31, 2012 and 2011.
The increase in unrestricted net assets for 2011 (references to a year mean the fiscal year ended on July 31 of that calendar year) was a positive change in net assets of $31.3 million, while the change in unrestricted net assets for 2010 was a net gain of $28.9 million (an increase of 8% or $2.4 million). Total unrestricted revenues, gains and other support were 9% higher in 2011 than in 2010, increasing from $239.6 million to $261 .9 million.” (Source)
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Top Ana G. Mendez University System Endowment Fund Headlines:
1) The Ana G. Méndez University System (SUAGM) is the fastest growing educational system in Puerto Rico accredited by the Middle States Commission on Higher Education, which provides that all its degrees are valid in the United States. It has four main institutions, fifteen universities around Puerto Rico and four campuses in the United States.
THE SUAGM was founded in 1949 and this year marks 65 years of being a nonprofit institution of higher education whose mission is to promote development and cultural, social and economic wellbeing, by offering a great number of academic programs. (Source)
2) Four leading local universities grew their endowment funds 13.6% in 2010, reaching a combined $264 million by the end of that year, defying the island’s five-year recession, CARIBBEAN BUSINESS has learned. To say the feat has not been easy is the understatement of the year.
“Finding new donors has become increasingly difficult,” said José Jaime Rivera, president of Universidad del Sagrado Corazón (USC), a sentiment echoed by officials of the University of Puerto Rico (UPR), Universidad Interamericana de Puerto Rico (Inter) and Ana G. Méndez University System (Suagm by its Spanish acronym).
Endowments are private contributions to universities, allowing the latter to fund operations, student grants and infrastructure improvements. Suagm moved two years ago to actively manage its fund, establishing an investment committee that meets monthly to evaluate and reallocate, when necessary, the investment portfolio. (Source)
3) By 2020, the Ana G. Méndez University System (AGMUS) will be recognized as an institution of excellence in learning, research and in public service, with great social responsibility and growing global projection. AGMUS will stand out for its decisive contribution to the economic and social development of Puerto Rico, providing innovative solutions to the developmental needs of the Island, and will be recognized as the leading institution serving the educational needs of Hispanic communities outside Puerto Rico, in the United States and other communities it serves. AGMUS will be characterized as a transformative entity of constant innovation and sound financial strength, focused on the human being, and making effective use of its technological, physical and managerial resources in support of its mission. (Source)
4) Texas’ first dual-language college campus has opened in Dallas, offering half of its academic programs in Spanish and half in English.
The Ana G. Mendez University System was founded in 1949 and has 21 locations throughout Puerto Rico and the United States. It first launched its dual-language model in 2003 and since its inception, the program has graduated more than 2,500 students.
“Many Hispanics are underemployed because they lack the degrees and English skills necessary for better paying jobs or career advancement,” said Luis Zayas, vice president of national and international affairs for AGMUS. “At AGMUS, we’re breaking down the barriers that typically discourage the Hispanic community from pursuing a college degree and helping them become fully bilingual professionals.”
Its newest 39,000-square-foot campus at 3010 N. Stemmons Freeway will be staffed by bilingual faculty with masters’ or doctoral degrees. Registration started Jan. 5 and students can apply at any time. (Source)
5) The Puerto Rico-based Ana G. Méndez University System (SUAGM, as it known by its initials in Spanish) inaugurated its Capital Area Campus on a rainy day last November, in the presence of Maryland Labor Secretary Alex Sánchez and Montgomery County councilwoman Nancy Navarro, among other officials. It already boasts 165 students taking classes in both English and Spanish. This is the fourth facility outside Puerto Rico; the other three are all located in Florida.
Classes began Jan. 23 at the gleaming new Maryland campus, which occupies 20,000 square feet and consists of 10 classrooms as well as a computer lab, language lab, nursing lab, learning resources center, conference room and administrative offices. By 2015, SUAGM expects to have 473 students here, pursuing bachelor’s and master’s degrees in everything from accounting and management to criminal justice and nursing. The university has the option to acquire another 10,000 square feet of space as it expands, to accommodate as many as 700 students.
On Thursday night, José F. Méndez, president of SUAGM, welcomed a long list of local, state and foreign dignitaries to the new campus. (Source)