Name: California State University, Long Beach
Assets Under Management: $168.9 Million (Source: California State University, Long Beach on 6/30/2012)
Portfolio Insights: “The California State University, Long Beach Foundation is a nonprofit, tax-exempt corporation, incorporated in the state of California on October 3, 1956. In November 2011, the corporation amended its articles of incorporation and changed its name to the California State University, Long Beach Research Foundation (the Foundation).
Long-term investments were $4.7 million in 2012 and $4.2 million in 2011. These investments consist of funds that have been allocated by the Foundation for long-term investment purposes without donor restrictions.” (Source)
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Top California State University, Long Beach Endowment Fund Headlines:
1) Jane Close Conoley, Ph.D. was selected by The California State University (CSU) Board of Trustees in January 2014 as the newest president of California State University, Long Beach (CSULB) and officially took office on July 15. Conoley is the first woman to be appointed president of CSULB and the seventh president overall in the 65-year history of the campus.
Immediately prior to coming to CSULB, Conoley served as dean of the Gevirtz Graduate School of Education at the University of California, Santa Barbara (UCSB). She also served from November 2012 to August 2013 as the interim Chancellor of UC Riverside.
Since 2006, along with serving as dean, Conoley was a professor of counseling, clinical and school psychology. Prior to her service at UCSB, she served as dean and professor of educational psychology at Texas A&M University (1996-2005) and associate dean for research at the University of Nebraska-Lincoln’s Teachers College (1989-94). In addition, she held faculty positions at Texas Woman’s University and Syracuse University. (Source)
2) The CSULB 49er Foundation, Long Beach, Calif., is searching for an investment consultant, said Michael T. Losquadro, chief operating officer.
The foundation manages a $58.5 million endowment for California State University, Long Beach. Incumbent consultant Wells Fargo Advisors is invited to rebid.
Wells Fargo also served as the consultant for the CSULB Research Foundation before endowment assets were transferred to the 49er Foundation a couple of years ago. The board of directors wants to take a “fresh look” and see what other firms can provide the services, Mr. Losquadro said. (Source)
3) Dr. David Dowell was appointed Interim Provost and Senior Vice President for Academic Affairs in June 2013, after serving as Vice Provost for Planning and Budgets and Director of Strategic Planning.
As Vice Provost for 11 years, Dr. Dowell led the Division of Academic Affairs through several years of difficult state reductions. He led enrollment planning through those difficult budget years and actually improved class availability during that time. He also guided efforts to completely revamp CSULB admissions processes, creating a model now being emulated by other campuses. Additionally, he led divisional facilities planning now leading to a complete remodel of the Liberal Arts Buildings—2 through 4 complex.
In his role as Director of Strategic Planning, Dr. Dowell reported directly to two presidents on matters related to admissions, enrollment management, campus environment, and strategic priorities and goals. (Source)
4) Employee volunteers from Mitsubishi Electric’s Cypress, California headquarters and students from California State University Long Beach’s Disabled Student Services donated their time last week to install a solar electric system on the roof of a Long Beach home. GRID Alternatives Greater Los Angeles, a non-profit organization that works with volunteers to install solar electric systems for low-income families, led the installation.
Mitsubishi Electric US, Inc., a manufacturer of solar modules and other premier electronics, sponsored the installation of the bundled solar electric system, incorporating equipment donated by Mitsubishi Electric, Solectria Renewables and Orion Solar Racking. (Source)
5) The CSULB endowment grew by $5.7 million last year, the largest one-year increase in the university’s history. Now standing at more than $35 million, the endowment funds student scholarships, faculty chairs and other programs, he said.
“I also attribute (the improved fundraising numbers) to the fact that we do have wonderful alumni and friends who are more eager to not only find out about our momentum as a university, but join in on the success of our campus,” Alexander said. (Source)