Name: Carthage College
Assets Under Management: $225.6 Million (Source: Carthage College on 8/6/2014)
Portfolio Insights: Carthage College (“the College”) is a four-year liberal arts college affiliated with the Evangelical Lutheran Church in America. The accounting policies of the College reflect practices common to colleges and universities and conform to generally accepted accounting principles. The College’s endowment consists of approximately 255 individual funds established for a variety of purposes. Its endowment includes both donor-restricted endowment funds and funds designated by the governing board to function as endowments. (Source)
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Top Carthage College Endowment Fund Headlines:
1) A composer, musician, and scholar, Gregory S. Woodward is the 22nd president of Carthage College. Since taking office in August 2012, Dr. Woodward has worked to strengthen campus-wide engagement, establishing new events for students and forming representative bodies for staff and faculty members. He was inaugurated on April 27, 2013.
President Woodward came to Carthage from Ithaca College, where he led one of the premier undergraduate music conservatories in the country as Dean of the School of Music. He joined Ithaca’s Department of Music Theory, History, and Composition as a composer in 1984, becoming a full professor in 2000. During his time at Ithaca College, Dr. Woodward also served as dean of graduate and professional studies and interim provost/vice president for academic affairs. (Source)
2) Dr. David García has been named provost and chief academic officer at Carthage. He joins Carthage from his current position as associate provost for business intelligence at Ithaca College. In this role, Dr. García conceptualized, implemented, and executed a business intelligence strategy for the College, assuring availability and access to institutional data, insightful analysis, and informed institutional decision-making. He is responsible for the structure and allocation of budgets for the divisions of Educational Affairs at Ithaca College, totaling approximately $75 million, as well as the management of major capital projects as they relate to Educational Affairs.
“I am elated that Dr. García will become Carthage’s next provost,” says Carthage College President Gregory Woodward. “The broad experiences he has had in higher education have provided him with a vast skill set that perfectly matches the needs and goals at this moment in time at Carthage. His understanding of the various roles of the faculty, staff, and administration will be invaluable in leading a multifaceted academic affairs office. His expertise in budgeting, institutional research, faculty workload, and staffing is outstanding, and will be put to immediate and effective use at Carthage.” (Source)
3) Carthage College has received a $10 million gift from the Tarble Family Foundation of Los Angeles to be used toward the construction of a new east wing in the David A. Straz Jr. Center for the Natural and Social Sciences. This is the second-largest gift in the history of the college, 2001 Alford Park Drive. Jan Tarble, daughter of the late Newton E. and Louise A. “Pat” Tarble, presented it to Carthage College president Gregory Woodward earlier this month.
The 35,000-square-foot wing is part of a $43 million science center that is scheduled to open in fall 2015. Crews broke ground on the project in spring, according to a press release.
This latest gift brings the Tarble family’s total contribution to Carthage College to almost $40 million. The family also donated toward the N. E. Tarble Athletic and Recreation Center, the Tarble Arena, and the Campbell Student Union.
“Carthage College would not be what it is today without the generosity of many dedicated supporters, and chief among these wonderful friends are Jan Tarble and her parents, Newton and Pat,” Woodward said in a press release. “The contributions of the Tarble family have truly transformed our campus and institution.” (Source)
4) That’s the Carthage mission. It’s not a stodgy old saying recited at alumni banquets and presidential dinners. It’s a challenge. One that we put forth anew every single day. To our students. To our faculty and staff. To make this world a better place for all of us. (Source)
5) William Abt, who has managed Carthage’s historic financial, investment, and operational growth over the past 14 years, will retire as senior vice president for administration and business on June 30, 2015.
After a 40-year career in management, he plans to spend more time with family. He and his wife, Julie, also are eager to free up more time to devote to social and community initiatives.
Carthage will continue to rely on his expertise. At the request of President Gregory Woodward and the Board of Trustees, Mr. Abt has agreed to continue as the College’s chief investment officer.
In that role, he has overseen investment returns that have boosted the endowment by 200 percent since the low point of the recession in 2009. Resisting the allure of hedge funds and other alternative investments, Carthage’s portfolio has outperformed that of its peers by a wide margin in the past three years. (Source)