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Dickinson College Endowment Fund

Name: Dickinson College Investment Office

Assets Under Management: $429.5 Million (Source: Dickinson College on 6/30/2014)

Annual Report: Endowment Summary – Dickinson College

Portfolio Insights: “Dickinson College (the College) is a private, not-for-profit institution of higher education in Carlisle, Pennsylvania. The College provides education services at the undergraduate level. The significant accounting policies followed by the College are described below to enhance the usefulness of the financial statements to the reader.

Contributions and endowment income with donor-imposed restrictions are reported as temporarily restricted revenues and are reclassified to unrestricted net assets when an expense is incurred that satisfies the donor-imposed restriction.” (Source)

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Top Dickinson College Endowment Fund Headlines:

1) Sustainability is a defining dimension of Dickinson College.  SITF recognizes that continued reliance on fossil fuels as a major energy source poses grave risks from global climate change. In consequence, investment of Dickinson’s endowment in the fossil energy sector is in tension with the College’s commitments to sustainability and climate change action.

Investments in fossil fuels comprise approximately 4% of the college’s pooled endowment; and, investments in the largest 200 fossil fuel companies comprise approximately 1% of the college’s pooled endowment. (Source)

2) Dickinson College was chosen in 2003 to receive one of six campus profiles in NAFSA’s annual report Internationalizing the Campus 2003: Profiles of Success at Colleges and Universities, as a story of institutional success. Campus profiles document examples of institutions where internationalization is not an isolated success but pervades the campus in meaningful ways. (Source)

3) Dickinson College is a private, highly selective liberal-arts college founded more than two centuries ago. With an emphasis on active learning and 21st-century skill sets, Dickinson prepares students to think globally, act boldly, and make a difference. The small size of the residential four-year College fosters a strong sense of community and an environment of collaboration between students and faculty. (Source)

4) Dickinson College helps support the development of wind energy by purchasing 18 million kwh of Renewable Energy Credits (RECs), equal to 100% of our annual electricity consumption. We are also investing directly in renewable energy and energy conservation on our own campus. We have installed 77 kw of solar photovoltaic arrays on campus. Our central energy plant, a new, state-of-the-art, high efficiency facility that was constructed at a cost of $5.6 million, represents a major investment in energy conservation. In 2010 we took a further step by converting the high-efficiency boilers of the plant to burn waste vegetable oil, a net-zero carbon energy source. All building projects since 2008 have been built to LEED-Gold standard. We have invested financial capital and sweat equity to develop the Dickinson College Farm, a source of healthy, sustainable food for the campus, an educational and research venue for our students, and a demonstration site and resource for the community that is actively promoting sustainable farming and land stewardship practices in the region, buy local campaigns and farmers’ markets. (Source)

5) Jun 24, 2002 – Dickinson College hired Angelo Gordon and Cerebrus Capital as distressed debt managers, made commitments to Commonfund’s Capital International Partners IV and Capital Venture Partners venture capital funds, and committed to Commonfund Private Equity Partners V, said David Walker, associate vice president and comptroller. He would not say how much the $170 million endowment committed to each. Funding came from cash. The commitments are the result of the endowment allocating 5% of total assets to distressed debt, and 2.5% each to venture capital and private equity, Mr. Walker said; all are first-time investments to those classes. (Source)

About Richard C. Wilson