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College of St. Scholastica, Inc. Endowment Fund

Name: College of St. Scholastica, Inc.

Assets Under Management: $116.7 Million (Source: College of St. Scholastica, Inc. on 6/30/2010)

Annual Report: The College of St. Scholastica, Inc., Duluth, Minnesota, Financial Statements Years Ended June 30, 2010 and 2009

Portfolio Insights: “The College of St. Scholastica, Inc., an independent liberal arts college, offers credited bachelors, masters, and doctoral degree programs. The College considers all highly liquid investments, except those held for long-term investment, with a maturity of three months or less when purchased to be cash equivalents.

The College’s endowment consists of approximately 170 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. As required by GAAP, net assets associated with endowment funds, including funds designated by the governing board to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions.” (Source)

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Top College of St. Scholastica, Inc. Endowment Fund Headlines:

1) The College of St. Scholastica is expanding in Arizona, opening a site near Phoenix and planning a full campus for graduate health care programs there within the next four years.

The Duluth News Tribune has a report on the early stages of the Duluth-based private college’s expansion, which represent its first out-of-state effort. (In addition to its Duluth Campus, St. Scholastica has seven other locations in Minnesota and an online operation, with a total enrollment of 4,200 students.

According to Business Journal research, it’s the 15th-largest college in Minnesota by enrollment. For now, the college’s Arizona presence consists of a site in Surprise, in the northwest metro area of Phoenix, that will offer health-information management and health-informatics online programs in partnership with its online operations.

But it’ll move quickly, adding in-person classes for nursing and social work degrees next year and spending between $10 million and $20 million for a campus. (Source)

2) Larry Goodwin, Ph.D. serves as President and Trustee of College Of St Scholastica Inc. Dr. Goodwin is Chief Administrative Officer of the College. He works with the Board of Trustees to build a shared vision for St. Scholastica’s continued growth and excellence. With the presidential staff, he plans and implements strategies for achieving the vision. (Source)

3) The College of St. Scholastica Alumni Association is committed to being an association with strong, active, and informed alumni who are able to support and represent the College’s mission. We are committed to serving the needs of alumni through recognizing and responding to the diversity of our generations, interests, and geographic locations. We believe innovative use of technology, dynamic alumni programming, and student outreach are all necessities in fostering effective communication. We encourage active alumni participation in any capacity furthering goodwill toward the College. The College’s Benedictine tradition, rich friendships, and strong academic preparation inspire this vision. We strongly believe that alumni continue to carry on as representatives of the College and exemplify the values shared by all who attended The College of St. Scholastica. (Source)

4) Two faculty members have been awarded nearly $1 million to help improve computer science education in high schools, as the College also adds a new computer science education certificate for teachers.

The National Science Foundation has awarded $999,741 to St. Scholastica’s Jennifer Rosato, assistant professor of Computer Information Systems, and Chery Takkunen, associate professor and chair of graduate education programs for the School of Education. The grant funds will be used to improve and expand K-12 computer science education. This addresses a major need in American schools, Takkunen says.

The funds will be used to create and offer an online course for teachers, to pay stipends to teacher participants, and to offer ongoing support and mentoring during the school year. The course will show teachers how to help their students to develop mobile apps, Rosato said, because building apps for smartphones and tablets is a relatable way to get kids excited about computer science. (Source)

5) The College of St. Scholastica is launching the largest fund drive in its history Saturday, $31 million. The announcement is being made at its Alumni Reunion. St. Scholastica President Larry Goodwin said that the “Imagine Tomorrow” drive is primarily being driven by the college’s growth. St. Scholastica expects 2,650 students to enroll this fall, including at least 420 freshmen. Both are new records for the 91-year-old Benedictine school. (Source)

About Richard C. Wilson