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Bates College Endowment Fund

Name: Bates College Investment Society Constitution

Assets Under Management: $449.9 Million (Source: Bates College on 8/6/2014)

Annual Report: Bates College Financial Statements June 30, 2013 and 2012

Portfolio Insights: “Bates College (the “College”) is a private, coeducational, liberal arts college located in Lewiston, Maine. The College provides academic, residential and other services to a diverse student population of approximately 1,750.

The accompanying financial statements have been prepared on the accrual basis of accounting and in accordance with accounting principles generally accepted in the United States of America. The College displays its activities and net assets in three classes: unrestricted, temporarily restricted and permanently restricted.” (Source)

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Top Bates College Endowment Fund Headlines:

1) The Bates College endowment grew to $231 million, largely thanks to an investment return of nearly 20 percent. Higher education analysts credit much of the double-digit rate increases to a stock market that up until recent months was on the rebound.

“There are many, many signals that go out from a robust endowment,” said William Jarvis. He is managing director of the Commonfund Institute, which estimates that endowments typically account for more than 10% of operating revenue at colleges, money used for everything from financial aid to athletic fields. (Source)

2) Bates College is a liberal arts college dedicated to the principle of active engagement. Bates was founded in 1855 by Maine abolitionists, and Bates graduates have always included men and women from diverse racial, ethnic and religious backgrounds. Today the College has around 1,700 students. The endowment provides resources to Bates College and its academic and administrative leadership. (Source)

3) In 2008, UMaine and Bates College were the first two institutions in Maine to receive the Carnegie Community Engagement Classification. The 2015 reclassification is valid until 2025.

Today, five colleges and universities in Maine — UMaine, Bates, Saint Joseph’s College, Unity College and the University of Maine at Machias — are among the 361 institutions nationwide that have achieved the Community Engagement Classification from the Carnegie Foundation. (Source)

4) The goal of the Bates College Investment Club (BCIC) is to maximize the capital appreciation of a diversified portfolio of equities (common or preferred) and fixed income securities, including those convertible into equities. While the goal each academic year is to exceed the broad market averages, such as the S&P 500 and the NYSE Composite, the minimum goal is to increase the value of the portfolio, net of the annual contribution required by the BCIC Constitution in support of the Bates College financial aid program. (Source)

5) Bates College is a welcoming community whose members care deeply about the rigorous, challenging, and rewarding life of ideas and principles, and value their exchange and examination. Bates helps students discover their strengths, investigate unquestioned assumptions and make a meaningful impact during their years on campus and throughout alumni life. (Source)

About Richard C. Wilson