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Bryn Mawr College Endowment Fund

Name: Bryn Mawr College

Assets Under Management: $715 Million (Source: Bryn Mawr Collegeon 6/30/2013)

Annual Report: FY13 – Bryn Mawr College

Portfolio Insights: “Students on average pay half the cost of their Bryn Mawr education. Student revenue (tuition, room and board) provided 50% of the operating revenue, and is the largest revenue source for the College. Philanthropy subsidized 39% of College operations through gifts and endowment income, which provided a per student subsidy of $26,000.

Bryn Mawr Fund gifts provided a $4,000 per student subsidy. Slade Society donors contributed 73% of the total Bryn Mawr Fund. As a result of the recession and the aging demographic of most generous Bryn Mawr Fund donors, the number of Slade donors has declined from 614 in 2007 to 551 in FY13. The number of Slade donors increased by 27 from FY12, but the average gift declined by $250.” (Source)

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Top Bryn Mawr College Endowment Fund Headlines:

1) Sep 11, 2014 – At Bryn Mawr College, he oversaw an $850 million endowment, managed cash, issued debt and was responsible for budgeting and strategic planning. His efforts in modernizing Bryn Mawr’s financial structure were credited with Bryn Mawr being one of the few colleges whose debt rating was upgraded during the recession. Prior to joining Bryn Mawr College, Griffith served in various financial roles at the University of New Hampshire for more than 15 years. He began his career at Coopers & Lybrand. In announcing Griffith’s appointment, Jonathan J. Hirtle, CEO of Hirtle Callaghan said: “In these extraordinarily challenging times for higher education, everyone associated with endowment management must do more. Simply put, that means higher returns with less risk. (Source)

2) Bryn Mawr College has adopted a formal sustainability policy and a sustainability plan. The College Sustainability Committee recently expanded the role of residence hall recycling reps, provided reusable water bottles to every student, and moved the campus to single-stream recycling. (Source)

3) Bryn Mawr College (the College) is a private institution of higher education located in Bryn Mawr, Pennsylvania. The College has been granted tax-exempt status as a non-profit organization under Section 501 (c) (3) of the Internal Revenue Code. The Undergraduate College offers a four-year, liberal arts curriculum to women and has cooperative exchanges for academic courses, library use and certain other administrative functions with other area schools. (Source)

4) Lotte Insurance is planning to make its first overseas investments in hedge funds within the next 12 months. The South Korea-based insurance company plans to invest up to $20mn in one or two direct hedge funds managed by overseas fund managers with a track record of at least two years. Bryn Mawr College Endowment is looking to add one to two new managers, or $3-10mn in capital, to its hedge fund holdings in the next 12 months. The endowment invests in the asset class through direct single managers and typically seeks North American investment exposure. When selecting prospective managers, the endowment has a preference for managers with a track record of at least three years. The endowment is willing to consider any strategies recommended by its investment consultant, Cambridge Associates. (Source)

5) Bryn Mawr College (1885) was founded upon an endowment from Dr. Joseph Wright Taylor, a Quaker businessman and physician. Dr. Taylor had observed the frustration of a daughter of a Baltimore friend who was unable to study at the graduate level. That young woman, Martha Carey Thomas, enrolled at the University of Zurich, graduating summa cum laude with a Ph.D. Taylor, a devoted member of the Society of Friends, died in 1880. He bequeathed the bulk of his estate to fund an institution “for the advanced education of females” providing “all the advantages of a College education which are so freely offered to young men.” (Nearby Haverford College, another Quaker institution, had begun in 1833). Bryn Mawr’s first president was Dr. James E. Rhoads, also a Quaker with close ties to Haverford College; the first dean was M. Carey Thomas. After Dr. Rhoads’ resignation, Ms. Thomas began a lengthy tenure (1894-1922). It was she who gave Bryn Mawr its special identity as a college determined to prove that women could successfully complete a curriculum as rigorous as any offered to men in the best universities. (Source)

About Richard C. Wilson