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Colby College Endowment Fund

Name: Colby College Endowment

Assets Under Management: $829.3 Million (Source: Colby College on 30/6/2014)

Annual Report: 2013-14 Colby Audited Financial Statement

Portfolio Insights: “Colby College (the College) is a private, coeducational, liberal arts college located in Waterville, Maine providing academic, residential and other services to a diverse student population.

The statements have been prepared on the accrual basis of accounting and in accordance with accounting principles generally accepted in the United States of America. Unrestricted net assets include all resources that are not subject to donor-imposed restrictions of a more specific nature than those that obligate the College to utilize funds only in furtherance of its educational mission or for which donor restrictions have expired. Temporarily restricted net assets carry specific, donor-imposed restrictions on the expenditure or other uses of contributed funds and/or the investment return on these assets or are limited for use by law. Temporary restrictions may expire either because of the passage of time or because certain actions are taken by the College which fulfill the restrictions. Permanently restricted net assets are those that are subject to donor-imposed restrictions which never lapse, thus requiring that the funds be retained permanently. Generally, the donors of permanently restricted net assets permit the College to use all or part of the investment return on these assets.” (Source)

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Top Colby College Endowment Fund Headlines:

1) Endowment gifts to Colby are placed in the institution’s Endowment Fund for investment and oversight purposes. Decisions regarding the investment of the Colby endowment are made by the Trustee Investment Committee working within a detailed set of guidelines designed to preserve and augment the value of the endowment. The trustees have adopted the broad objective of investing endowment assets so as to preserve the long-range purchasing power of both the principal and the endowment income available to support the College’s operations. In FY2010 the endowment provided $22.3 million, which was 17 percent of Colby’s operating budget. (Source)

2) The Colby College Environmental Advisory Committee has completed a climate action plan, and has found a more sustainable landfill to utilize. It has also worked on replacing heating oil with biomass and reducing bottled water use. Colby purchases Energy Star appliances whenever possible, and all copier paper, paper towels, tissues, and napkins are made from 100 percent postconsumer recycled content. (Source)

3) Colby College, one of the nation’s preeminent liberal arts colleges, seeks an experienced, collaborative and aspirational fundraising professional to serve as its next vice president for development and alumni relations. Joining the institution at a pivotal moment in its history, the vice president will report directly to President David A. Greene and will work closely with him and key partners to help develop and achieve a bold and ambitious vision for the College. The vice president will define a culture of philanthropy that supports key institutional priorities and fosters lifelong relationships between Colby and its alumni, parents and friends. S/he will play a central role in enhancing the visibility and fundraising capabilities of the institution in order to attract new sources of funding and further advance the institution as a national leader among liberal arts colleges as it embarks upon its third century. (Source)

4) Colby College’s endowment aids students, attracts faculty and improves academic programs. In 2012, Colby invested more than $165 million, or 33%, in hedge funds from its over $500 million endowment. (Source)

5) Hugh O’Donnell was named chief investment officer of Colby College’s $611 million endowment, effective Aug. 1, confirmed Douglas C. Terp, vice president for administration and treasurer at the Waterville, Maine, college. Mr. O’Donnell will replace Douglas E. Reinhardt, who is retiring on March 1, 2013. Mr. Reinhardt will work with Mr. O’Donnell until his retirement, Mr. Terp said in an e-mail.

Mr. O’Donnell was an investment manager at Honolulu-based Kamehameha Schools’ $9.1 billion endowment but had been based in Boston. Marsha Bolson, vice president for community relations and communications with Kamehameha Schools, said he would be replaced “but not immediately.” (Source)

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