Name: Finance Office – Bridgewater College
Assets Under Management: $76.1 Million (Source: Bridgewater College on 6/30/2010)
Annual Report: Bridgewater College Financial Report June 30, 2010
Portfolio Insights: “Bridgewater College (the “College”) is a private, undergraduate, coeducational liberal arts college located in Bridgewater, Virginia. The College’s curriculum emphasizes the liberal arts and sciences. The College has adopted investment and spending policies for endowment assets that attempt to provide a predictable stream of funding to programs supported by its endowment while seeking to maintain the purchasing power of the endowment assets.
The College invests long-term assets with multiple investment managers to achieve a diversified portfolio in accordance with its investment policies. In accordance with the requirements of the Fair Value Measurements and Disclosures standard, a significant portion of the College’s investments are classified as having used Level 3 inputs.” (Source)
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Top Bridgewater College Endowment Fund Headlines:
1) Bridgewater College, 14 other private, nonprofit colleges in the Council of Independent Colleges in Virginia (CICV) and the U.S. Department of Energy have joined forces to help develop comprehensive plans for implementing solar power on area campuses. Money for the three-year program will come through the CICV via an $807,000 award provided by the Department of Energy SunShot Initiative.
The program will help Bridgewater and partner schools navigate complex legal, regulatory and technical challenges associated with installing solar-powered systems. It will also provide group purchasing to achieve price reductions for hardware and installation services and create a learning network accessible by other organizations considering solar power.
Consulting services will be provided to CICV by Optony, Inc., a global consulting firm focused on solar energy.
“Bridgewater College was one of the key members of the project development team from start to project implementation” said Teshome Molalenge, director, center for sustainability, at Bridgewater. “The funding will help Bridgewater and its fellow CICV colleges mitigate the high cost of solar technology, clear technical, legal and regulatory hurdles and provide multiple learning opportunities for students and employees alike.” (Source)
2) Bridgewater College has some bragging rights when it comes to sustainable transportation. The college is the only owner in the state of Virginia of the world’s most energy-efficient vehicle. The call it the ELF, which stands for “electric, light, fun.”
“She’s so magnificent and she’s so easy to operate. She’s just beautiful,” said Teshome Molalenge, director of the Center for Sustainability. The vehicle draws power from a variety of sources: it’s topped with solar panels, the battery can be charged by pedaling, and it can be plugged into an electrical outlet. “It gets 1800 miles to the gallon, even though technically no gallons,” said Stephen Miller, a senior student and recycling coordinator at Bridgewater College.
But is the carbon fiber, maintenance-free vehicle a bike or a car?
“It really feels like a combination of both. And I’ve never experienced that in a vehicle before,” Miller said. (Source)
3) The mission of Bridgewater College is to educate and develop the whole person. Our graduates will be equipped to become leaders, living ethical, healthy, useful and fulfilling lives with a strong sense of personal accountability and civic responsibility. This mission is carried out in a learning community, with Christian values, high standards of integrity and excellence, affirming and challenging each member. (Source)
4) As Bridgewater College coaching and teaching legend Harry G.M. “Doc” Jopson celebrates his 100th birthday on June 23, some of his former students and other supporters of the college have created an endowed fund to support Bridgewater’s track and cross country programs.
Jopson, who came to Bridgewater College in 1936 to head up its biology department, also reinvigorated the college’s defunct track program and transformed it into a championship-winning juggernaut. He also founded the cross country program. By the time Jopson retired in 1981, his runners had chalked up two dozen undefeated track seasons and dozens of conference and state championships.
Jopson himself was selected the Old Dominion Athletic Conference (ODAC) Track Coach of the Year from 1978-1981. (Source)
5) An accomplished academic leader, Dr. David W. Bushman brings extensive experience in higher education administration and in the classroom to Bridgewater College as its ninth president.
Dr. Bushman came to BC from Mount St. Mary’s University in Emmitsburg, Md. where he was the founding dean of the university’s School of Natural Science and Mathematics. In this role, he oversaw numerous academic programs and new academic program development as well as strategic and communications planning and fundraising for the school.
Prior to leading Mount St. Mary’s School of Natural Science and Mathematics, Dr. Bushman served as president of Lees-McRae College in Banner Elk, N.C. While at Lees-McRae, Dr. Bushman oversaw the college’s successful bid for re-accreditation from Southern Association of Colleges and Schools (SACS) and developed and implemented a new strategic plan for the institution. During his time at the helm, Lees-McRae engaged in a number of significant campus renovation projects, implemented curricular and co-curricular enhancements, and increased its freshman retention rate significantly. (Source)