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Cornell College Endowment Fund

Name: Cornell College

Assets Under Management: $177.2 Million (Source: Cornell College on 6/30/2014)

Annual Report: Cornell College Financial Statements Years Ended June 30, 2014 and 2013

Portfolio Insights: “Cornell College is a nationally ranked, highly selective liberal arts college of 1,100 students characterized by life-changing academic immersion in the One Course At A Time curriculum. Alternative investments, such as private equity, absolute return hedge funds, real estate investment trusts, and natural resource funds consist primarily of investments that are not readily marketable. Investments in these categories are valued utilizing the most current information provided by the general partner or manager of the fund.

The College’s Endowment Fund consists of various donor restricted endowment funds and funds designated as 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 Cornell College Endowment Fund Headlines:

1) A $2 million planned gift from Cornell alumna Jean Russell will create an endowed faculty chair at Cornell College and support other campus priorities. Russell graduated from Cornell College in 1965 and worked at Washington University in St. Louis in the Department of Medicine, the School of Dental Medicine, and the Division of Orthopedic Surgery.

“I view this as an opportunity to give back to Cornell a portion of what they gave me in education, experience and growth,” said Russell of Pentwater, Mich.

Russell earned her Ph.D. in biology from Rice University in 1971. From then until 1993, she worked at Washington University in St. Louis, Mo., teaching and researching. She contributed significant work to bone and calcium research and was able to extend many of the medical principles concerning growth and repair in the skeleton. (Source)

2) A $1 million gift from Cornell parent and life trustee Peter Paul Luce will expand and modernize Cornell College’s admission center. Luce, of Englewood, Colo., connected with Cornell when his daughter Lynn was drawn to Cornell’s One-Course-At-A-Time calendar. Luce served Cornell as a trustee when Lynn began at Cornell in 1989. He became a life trustee in 2003, and received honorary alum status in 1995 with his wife, Betsy.

“I’ve always been an admirer of One-Course-At-A-Time,” said Luce. “It’s not only the best innovation in higher education in a long time, it’s the only one.”

Luce’s patronage of Cornell College has long created extraordinary opportunities for Cornell, its students and prospective students. Starting in the 1990s, Luce personally flew high school counselors to visit Cornell on his twin engine prop jet. When Luce completed his three terms as a trustee, the son of Time Magazine founder Henry Luce was recognized by the Luce Foundation, which gave Cornell $1 million to fund and endow the Peter Paul Luce Gallery. (Source)

3) A $1.3 million living trust from an Iowa native will establish a Cornell College endowed scholarship fund for students who attended high school in and around Marshall County, Iowa.

John Lively, a 1955 Cornell graduate and longtime volunteer, said he wanted to give something back to Cornell College, and to others who knew the heart of central Iowa as he did.

“The spark for my idea came from a long-time banker, Fred Gilbert, in my hometown of State Center, Iowa, who, when he died, gave a scholarship to Cornell College,” said Lively. “Like him, I wanted to leave something to my alma mater, and to the town where I grew up.” (Source)

4) Mark Zinkula, Cornell College’s treasurer and chief financial officer since April 2006, has resigned from Cornell to become CEO of Legal and General Investment Management America (LGIMA), a subsidiary of a leading London-based asset management firm. Meanwhile, Brenda Tooley, vice president for academic affairs and dean of the college since July 2005, is on leave pursuing other opportunities. “We appreciate what both Mark and Bren have done for Cornell,” said Cornell President Les Garner. “Mark has done a wonderful job as chief financial officer and this is a terrific opportunity for him. Bren has brought a fresh and enthusiastic perspective to academics at Cornell and I wish her the best in her endeavors.” (Source)

5) Jonathan Brand became Cornell’s 15th president on July 1, 2011. Brand previously served as president of Doane College and as special assistant and counsel to the president at Grinnell College. He holds a law degree from Cornell University, a master’s degree in French literature from the University of Michigan, and a bachelor’s degree in history and French from the University of Wisconsin-Madison. (Source)

About Richard C. Wilson