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Case Western Reserve University Endowment Fund

Name: Case Western Reserve University

Assets Under Management:  $1.561 Billion (Source: Case Western Reserve University on 6/30/2013)

Annual Report:  Case Western Reserve University Endowment Fund’s 2013 Endowment Report

Portfolio Insights: “The combined endowment—including funds held by others totaled $1,561.8 million
as of June 30, 2013, and realized an overall return of 8.5 percent, before spending. We recognize that our results are not as strong as we would like, or what our supporters would expect. We are taking steps now to try to ensure improved outcomes in the very near future.

Endowment spending represents expenditures from the endowment to meet the terms of gifts and/or strategic university investments. Examples of this kind of spending are: annual allocations from an endowment designated for scholarships to provide the funds to cover those scholarships; annual speaker fees that are covered by a lecture endowment; and research funds that accompany an endowed professorship to enable that faculty member to travel to conduct field studies in an area of expertise. Other spending comes from endowments that give individuals—for example, the president, provost or a college or school dean—discretion regarding what spending best meets the goals of the gift. Such spending may involve investments that enable the university to compete for new and time-sensitive funding opportunities or recognize an immensely talented professor for an exceptional achievement. To preserve the value of the endowment in perpetuity, only a portion of the pool’s total return is spent each year.” (Source)

Our team, the Endowment Fund Association (EFA) and is the #1 community and most visited website dedicated to endowment fund professionals.  We provide endowment funds with buy-side co-investment and direct investment deal origination services, outsourced chief investment officer selection help,  and also provide Endowment 500 research and Endowment Database Solutions.

Top Case Western Reserve University Endowment Fund Headlines:

1) Case Western Reserve University owns trees — hundreds of thousands of them. Its company, Erie Timber, has purchased timberland in the southern United States and Pennsylvania through a timberland investment manager.

Timberland investments represented $43 million of CWRU’s $1.5 billion endowment in 2008, according to its most recent IRS statement. Erie Timber had an income that year of $969,352. Since then, Erie Timber has bought timberland in western Pennsylvania for $4.7 million, according to public records. Timberland represents about 3 percent of the current $1.6 billion endowment, said Sally Staley, the college’s chief investment officer.

“It is part of our investment strategy in natural resources, which include oil and gas, minerals, mining and energy,” she said. “We started in 2003, and it’s a little unusual but not uncommon, especially for larger endowments who have natural resources allocations, to have a piece of that be in timber.” (Source)

2) Case Western Reserve is a leading national research university located in Cleveland, Ohio. Through its seven schools and college, Case Western Reserve offers top-10 programs in health law, organizational behavior and social work and top-25 programs in biomedical engineering, international law, medicine and nursing. More than 4,000 undergraduate and nearly 6,000 graduate and professional students are enrolled at CWRU, representing all 50 states and more than 90 countries. (Source)

3) Case Western Reserve University School of Medicine has had one of the top-ranked orthopaedic departments in research funding over the past two decades—an investment in our dedication to discovering new approaches for diagnosing, treating and preventing disease. (Source)

4) Established as a partnership between Cleveland Clinic and Case Western Reserve University, Cleveland Clinic Lerner College of Medicine is a unique medical school program that sets standards for the training of physician investigators through innovative approaches to the integration of basic science, research and clinical medicine. (Source)

5) Case Western Reserve University (also known as Case Western Reserve, Case Western, Case, and CWRU) is a private research university in Cleveland, Ohio. The university was founded in 1967 by the federation of Case Institute of Technology (by Leonard Case Jr. in 1881) and Western Reserve University (founded in 1826 in the area that was once the Connecticut Western Reserve). TIME magazine described the merger as the creation of “Cleveland’s Big-Leaguer” university. (Source)


About Richard C. Wilson