Name: Coe College
Assets Under Management: $69 Million (Source: Coe College on 8/6/2014)
Annual Report: Mount Mercy University Financial Report June 30, 2012
Portfolio Insights: “Mount Mercy University (the “University”) is a private University located in Cedar Rapids, Iowa, offering undergraduate and graduate studies to domestic and international students. The University was formerly known as Mount Mercy College.
The University’s Endowment Fund consists of various donor restricted endowment funds and funds designated as endowment, quasi-endowment, by the Board of Trustees. Net assets associated with endowment funds, including funds designated to function as endowment funds, are classified and reported based on the existence or absence of donor-imposed restrictions.” (Source)
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Top Coe College Endowment Fund Headlines:
1) Coe College will fund the $3.45-million project with a loan issued by the Iowa Economic Development Authority (IEDA) under its Energy Bank funding program, a resource available to public and non-profit entities to finance energy-efficiency improvements and renewable-energy projects. The low-interest-rate loan will help the college pay for the work without tapping into its capital budget. And the savings the improvements generate, guaranteed by Honeywell through a 15-year performance contract, should cover the project expenses.
“We have a long history of adopting conservation measures, but had reached a point where it was difficult to achieve more without outside resources,” said Michael White, vice president of Administrative Services, Coe College. “Honeywell identified where we can drive greater efficiency and helped build a master plan for future improvements.” (Source)
2) Coe College raised $90 million in the largest campaign in school history, an infusion of money that came at a critical time to help the college with student scholarships, faculty salaries, campus expansion and a major building renovation, officials said. The $90 million total was $10 million more than the $80 million goal of “Defining Moment: The Campaign for Coe.” College leaders announced the fundraising results at a gala event on campus Thursday night that also was broadcast to alums around the country via a live webcast.
“The goals that it helped accomplish are critical to the future of the college,” Coe President James Phifer said. “It’s a triumph for the Coe community.” Coe leaders point to broad-based support — more than 10,000 people contributed gifts to the campaign — as one reason the effort was so successful. It’s impressive that support came during a major economic downturn, as the economy was affecting Coe’s endowment earnings and had families struggling to send their children to college, Phifer said. (Source)
3) David McInally has been selected as the 15th president in the 160-year history of Coe College. McInally, who currently serves as executive vice president and treasurer at Allegheny College, in Meadville, Pa., will take office on July 1, 2013. He succeeds James Phifer, who is retiring next year after serving 18 years as president of the college.
The appointment was made after a unanimous vote by the Coe College Board of Trustees at its Oct. 19 meeting and was announced by Dave Carson, chair of the Board of Trustees and a member of the Coe College Presidential Search Committee.
“The Coe College Board of Trustees was unequivocally impressed with Dr. McInally’s breadth and depth of experience at a highly successful college that is similar to Coe,” said Carson. “His commitment to private, residential, liberal arts education is evident and his enthusiastic commitment to help Coe achieve the next level of success is clear. We are confident that he will be an outstanding president of Coe.” (Source)
4) Coe College will celebrate the reopening of Peterson Hall of Science following this summer’s $12 million renovation of the facility. The rededication will take place on Friday, Sept. 28, as part of the college’s Homecoming Weekend activities. A reception will be held beginning at 3 p.m. in the Cherry Auditorium lobby, with tours taking place at 3:10 p.m. and 4:50 p.m. The rededication ceremony is scheduled at 4 p.m. in Cherry Auditorium, and the general public is invited to attend.
The guest speaker for the event is Delbert E. Day, Curators’ Professor Emeritus of Materials Science and Engineering and Senior Investigator of the Graduate Center for Materials Research at the Missouri University of Science and Technology. Coe President James Phifer and Coe science faculty members will also give remarks during the ceremony. (Source)
5) Goucher College has named its first provost, Marc M. Roy of Coe College in Iowa, in a process that drew more than 100 applications, school officials said in a statement released yesterday. Roy, expected to begin the job in June, also will serve as Goucher’s chief academic officer. He is Coe College’s vice president for academic affairs and dean of the faculty.
As Goucher’s provost, Roy will be the school’s second-highest ranking administrator and will direct its academic program. In selecting its first provost, the college convened a committee made up of faculty, students, staff and trustees. The panel narrowed the pool of 102 applicants to nine semifinalists. Three finalists visited the campus in October and last month. (Source)