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Assumption College Endowment Fund

Name: Assumption College

Assets Under Management: $186.4 Million (Source: Assumption College on 5/31/2012)

Annual Report: Assumption College Financial Statements May 31, 2012 and 2011

Portfolio Insights: “Assumption College (the “College”), founded in 1904, is a Catholic, nonprofit, coeducational college located in Worcester, Massachusetts on a 175-acre campus. The College’s portfolio is managed by outside investment managers who operate under the oversight of the Investment Committee of the Board of Trustees.

The College endowment funds consist of approximately 130 individual accounts established for a variety of purposes. The endowment consists of donor restricted endowment funds and funds designated by the Board of Trustees to function as endowmen ts. Net assets associated with endowment funds, including funds designated by the Board of Trustees to function as endowments, are classified and reported based on the existence or absence of donor imposed restrictions.” (Source)

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Top Assumption College Endowment Fund Headlines:

1) Assumption College announced on Sept. 11, 2014, that its endowment has exceeded $101 million for the first time in the College’s history and that it has raised more than $4 million from generous donors who support the Assumption College mission.

In only eight years, Assumption’s endowment has nearly doubled—from $55,157,607 in 2006 to $101 million. The endowment supports student financial aid, faculty development; and the enhancement of academic programs, athletics and co-curricular activities at Assumption.

“Assumption College is blessed with generous alumni, parents’ of students, and friends who support the mission of the College to form graduates known for critical intelligence, thoughtful citizenship and compassionate service,” said Assumption College President Francesco C. Cesareo, Ph.D. “Through responsible stewardship of the gifts provided to the College, the endowment has experienced record growth, providing students and faculty with critical financial resources to advance their education or scholarship. The College is well-positioned for continued growth of its academic programs and expansion of educational facilities.” (Source)

2) Assumption College of Worcester has maintained its “A-minus” credit rating from Standard & Poor’s after an assessment of the school’s finances, which includes a record endowment fund balance, the school announced. This is the second consecutive fiscal year Assumption has earned the rating, the school said in a statement. The college’s endowment, with a market value of $101 million, grew 9.9 percent over fiscal 2013, and it turned in its 38th consecutive balanced annual budget. The 2014 fiscal year didn’t come without its challenges, as Assumption laid off 15 staff members in February. (Source)

3) The Assumption College men’s soccer team has raised and donated over $1,000 to the Great Strides Cystic Fibrosis Foundation following the 2014 fall season. The Hounds worked together with the Great Strides Cystic Fibrosis Foundation and the Agape Latte group to support and raise awareness for cystic fibrosis throughout various efforts during the fall. (Source)

4) Worcester’s Assumption College has been named to the top “Regional Universities” list in U.S. News & World Report’s 2015 Best Colleges guide.

Assumption is ranked at No. 31 among approximately 200 regional universities in the North that offer bachelor and master’s degrees. Today’s announcement follows last month’s recognition of Assumption by The Princeton Review for being one of the best colleges in the nation. Assumption was also named last month a “College of Distinction” for its innovative, teacher-centered undergraduate education and preparing our graduates for real-world success.

“Once again, U.S. News & World Report has recognized the strength and value of an Assumption College liberal arts education,” said Assumption College President Francesco C. Cesareo, Ph.D. (Source)

5) Assumption College President Francesco Cesareo, Ph.D., announced on Jan. 17, 2014, the appointment of Peter Wells as vice president for administration and finance/treasurer, effective June 1. In this position, Wells, a certified public accountant, will oversee the College’s financial functions, including accounting, treasuring, investments, budgeting and audits. He will have oversight of the annual operating budget, the endowment, and have operating responsibility for the departments of Buildings and Grounds, Campus Police, Human Resources and Administrative Services.

“As the College’s director of finance since 2012 and years of senior financial leadership with the American Red Cross, Peter is well-prepared to assume his new duties to provide College leadership with sound financial advisement,” said Cesareo. “Peter’s market acumen and familiarity with the financial operations of the College will serve Assumption well.” (Source)

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