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Boise State University Foundation, Inc. Endowment Fund

Name: Boise State University Foundation

Assets Under Management: $672.2 Million (Source: Boise State University Foundation, Inc. on 6/30/2014)

Annual Report: Boise State University Report of Independent Auditors and Financial Statements June 30, 2014 and 2013 Including Single Audit Reports For The Year Ended June 30, 2014

Portfolio Insights: “Boise State University (the “University”) is a publicly supported, multi-disciplinary institution of higher education recognized by the Carnegie Foundation for outreach and community engagement. The University has the largest student enrollment of any university in Idaho, with an official enrollment of 22,003 for the fall semester of fiscal year 2014 (Fall 2013 ) as compared to 22,678 for fiscal year 2013 (Fall 2012 ).

Investments in equity and debt securities that have readily determinable fair values are recorded at quoted market prices. Investment securities without quoted market prices are valued at estimated fair value using appropriate valuation methods that consider the underlying assets and financial reports.” (Source)

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Top Boise State University Foundation, Inc. Endowment Fund Headlines:

1) The $2 million loan, invested through the Boise State University Foundation’s endowment in 2011, has earned more than $131,000 which will be used by the university’s College of Health Sciences to create 10 scholarships for graduate students and 31 undergraduate scholarships for students pursuing nursing and other health-related degrees. The scholarships will primarily be awarded based on financial need. These scholarships will be the first awarded at Boise State through this program. (Source)

2) Chris J. Anton has been appointed chief operating officer of the Boise State University Foundation, a nonprofit organization that inspires, generates and prudently manages private support for Boise State. In his new position, Anton is responsible for leading the foundation’s operations. He reports directly to the board of directors, while consulting regularly with university leadership to ensure coordinated and complementary advancement efforts on behalf of the university. In his role, and in conjunction with the board of directors, he provides vision, identifies objectives and leads the foundation in a manner consistent with its purpose, mission and goals. Most recently, Anton served as senior investment advisor for ClearRock Capital, which provides wealth management solutions for nonprofit organizations, individuals, families, trusts, estates and retirement plans. Before that, Anton served as the College of Idaho’s vice president of finance and administration for seven years. (Source)

3) Boise State University recently was awarded a $1 million endowment from the Bernard Osher Foundation to provide about 25 scholarships annually for students who are re-entering college.

Previously, the Osher Foundation has provided annual funding for the scholarships through a $50,000 grant, with all of the funding being distributed as scholarships each year. With this gift, the Boise State University Foundation will invest the money though its endowment and provide scholarships with the annual interest earnings, preserving the gift as principal in perpetuity.

“These scholarships are a wonderful development for adult learners who are returning to the classroom after time away,” said Mark Wheeler, Boise State’s dean of Extended Studies. “This particular group often has a high need for scholarship assistance but a difficult time finding scholarships for which they qualify. This program will provide re-entry students with scholarships for generations.”

The gift is the most recent recognition of Boise State’s partnership with the Osher Foundation, which previously provided a $1 million endowment for the operation of the Osher Lifelong Learning Institute at Boise State, the only Osher Institute in Idaho. The recent gift also addresses a key strategic focus for Boise State – support for scholarships. (Source)

4) Boise State University Foundation, Boise, Idaho, hired Mellon Capital Management to run $30 million in indexed mutual funds: a Russell 3000 fund, EAFE fund and Lehman Aggregate bond fund. No breakout was given on how much would go into each.

The $40 million endowment also hired Key Trust to run $10 million in an S&P 500 index fund, said a foundation spokeswoman.

Funding comes from two active managers she did not name; the Money Market Directory lists the foundation’s active managers as Burroughs & Hutchinson and Mountain Pacific Investment Advisors.

The change to passive management was made because investing in index funds is cheaper and the record indicates index funds are going to do better than active managers, said Robert Fritsch, executive director of the endowment. (Source)

5) Aug 26, 2013 – The Boise State University Foundation has appointed is board of directors for the 2013-14 academic year.

New board members are John Grizzaffi, president and general manager of Stein Distributing Company; Jay Hawkins, vice president of Micron Technology; George Juetten, retired executive vice president and chief financial officer of Washington Group International; and Dr. Louis “Jim” Voulelis, president of Anesthesia Associates of Boise.

New board officers are Chairwoman Joy M. Kealey, owner of Chicago Connection; Vice Chairman A.J. Balukoff, president of the Boise School District board of trustees; Secretary Linda Yanke, president of Yanke Machine Shop; and Treasurer Jason M. Coronado, managing partner for Deloitte Tax LLP. (Source)

About Richard C. Wilson