Name: Denison University
Assets Under Management: $1.07 Billion (Source: Denison University Endowment Fund on 6/30/2013)
Annual Report: Denison University’s Financial Audit, Fiscal Year 2013
Portfolio Insights: “Denison University (the University), a privately endowed educational institution, derives its income from student tuition and fees, gifts and grants, investments, operation of residence and dining halls and various related activities. The following is a summary of significant accounting policies followed in the preparation of the accompanying financial statements.
The financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. The University has reported information regarding its financial position and activities according to three classes of net assets: unrestricted net assets, which have no donor-imposed restrictions, temporarily restricted net assets, which have donor-imposed restrictions that will expire in the future, and permanently restricted net assets, which have donor-imposed restrictions which do not expire.” (Source)
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Top Denison University Endowment Fund Headlines:
1) Denison University, a perennial fixture among the rankings of top colleges in the nation, continues to rise on many of these lists, a university announcement said. The most recent publication to cite Denison’s upward trajectory is Forbes. Its 2014 ranking of “America’s Top Colleges” places Denison at 95th, up from 130th just one year ago.
The Forbes list is unique in that it considers all U.S. colleges in its ranking rather than segmenting public from private, large from small, and graduate from baccalaureate, the Denison announcement said. It also distinguishes itself from competitors by its “belief in output over input,” saying that it’s “not all that interested in what gets a student into college,” but instead that its “sights are set directly on ROI: What are students getting out of college?” (Source)
2) Jan 27, 1999 – Denison University, Granville, Ohio, invested $15 million in the Spinnaker Technology Offshore Fund, said Seth Patton, vice president for finance and management for the $320 million endowment fund. Spinnaker’s portfolio managers are technology-focused stock pickers who can go long and short stocks, Mr. Patton said. Assets came from a reallocation among existing hedge fund managers Tiger Management; Duquesne Capital; Deerfield; Moore Capital; and Lone Pine Capital, he said. The endowment has about 24% of assets in hedge funds, he said. (Source)
3) Denison University is an independent residential liberal arts college of some 2,000 students, 164 faculty members and nearly 23,000 alumni. It was founded in 1831 and is located in Granville, a small community in central Ohio. Today, it has holdings of approximately 1,200 acres in Granville, including a 250 acre main campus, extensive recreational and athletic fields, and a 500-acre Biological Reserve. Its endowment is used to support the University in the form of faculty salaries, student scholarships and other University functions. (Source)
4) Denison University’s purpose is to inspire and educate their students to become autonomous thinkers, discerning moral agents and active citizens of a democratic society. Through an emphasis on active learning, we engage students in the liberal arts, which fosters self-determination and demonstrates the transformative power of education. Denison envisions their students’ lives as based upon rational choice, a firm belief in human dignity and compassion unlimited by cultural, racial, sexual, religious or economic barriers, and directed toward an engagement with the central issues of our time. (Source)
5) From 2008-09 through 2012-13, Denison University awarded 24 student-athletes impermissible financial aid when it considered athletics participation when determining financial aid packages, according to findings by the NCAA Division III Committee on Infractions. The university offered prospects an application process that allowed the prospect to submit information that considered, among other things, athletics participation in place of a standardized test score in order to gain admission. Because of this, the committee determined that Denison failed to monitor its financial aid process and failed to educate its admissions and financial aid personnel. (Source)