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Colgate University Endowment Fund

Name: Colgate University

Assets Under Management: $800 Million (Source: Colgate University in November 2013)

Annual Report: Colgate University’s Endowment Report July 1, 2012 through June 30, 2013

Portfolio Insights: “Pursuant to New York law, as a not-for-profit educational institution, Colgate has an obligation to manage its endowed funds in a prudent manner such that they may be deployed in furtherance of the University’s educational mission while retaining the ability to benefit future generations of Colgate students. The Board of Trustees is responsible for the overall stewardship of the endowment and a subcommittee of the Board, the Endowment Management & Finance Committee, provides direct oversight of investment and spending practices.

For generations, the Colgate endowment has provided invaluable support to the university and its students, and currently the endowment provides approximately 21% of Colgate’s total annual revenue. To provide some context to this in dollar terms, the endowment has provided over $285 million in support over the past decade. Following accepted and prudent endowment management practices, annual spending from the endowment is based on its underlying market value rather than the interest income and dividends the portfolio may generate. As a result, the endowment port folio is invested for total return so that it can maintain and potentially enhance its real value (adjusted for inflation) over the long-term.” (Source)

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Top Colgate University Endowment Fund Headlines:

1) Colgate’s endowment has increased $163 million in real terms (spending power) in eight years, regardless of the $400 million campaign Passion for Climb campaign.

Adjusted for inflation, the value of the 2002 endowment of $456M would be increased by a factor of 1.2. The present value of the 2002 endowment would be $456M x 1.2 = $548M.  This compares with the value of the 2010 endowment of $619M. (Source)

2) Colgate University is a nationally recognized liberal arts college with around 2,700 undergraduates, enrolled in 51 programs. The university emerged from the Baptist Education Society of the State of New York, which was founded in 1819. The college was named Colgate University in 1890 in recognition of the long service and generosity of members of the Colgate family. (Source)

3) Chapel House belongs to and is administered by Colgate University. It operates on endowment funds, which must cover expenses without requiring any help from other university funds. Additional gifts toward its programs are welcome, but they must be anonymous, in keeping with the pattern set by the original donor.

Chapel House opened its doors in 1959. The space was designed by Skidmore, Owings, and Merrill, and is an example of late international-style modernism.

Our guests choose to stay at Chapel House because it provides the space and resources necessary for intellectual, religious, and spiritual pursuits that are often marginalized in daily life. The only schedule for guests centers around meal times. The rest of the time is to be used according to individual initiatives and interests. (Source)

4)  Brion B.  Applegate co-founded Spectrum. Prior to forming Spectrum, he began his career in the private equity industry in 1979 with TA Associates, and Burr, Egan, Deleage & Co. His investment activities encompass a wide range of communications infrastructure particularly wireless companies, entertainment, media, information, and software companies.  Brion is also a Trustee of Colgate University where he is focused on athletics and endowment management. (Source)

5) Colgate University relies on the investment of Colgate athletic supporters to ensure that our student-athletes continue to receive an opportunity for a degree from one of the most prestigious universities in the country while competing at the highest level of intercollegiate athletics. (Source)

About Richard C. Wilson