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Doane College Endowment Fund

Name: Doane College

Assets Under Management: $170.8 Million (Source: Doane College on 6/30/2012)

Annual Report: Doane College Financial Statements and Reports Required by Government Auditing Standards and OMB Circular A-133 June 30, 2012 (with summarized financial information for 2011) (With Independent Auditors’ Report Thereon)

Portfolio Insights: “Doane College (the College), established in 1872, operates as a not-for-profit, private college. The College was incorporated under the laws of the State of Nebraska and is an organization exempt from income taxes under Code Section 501 (c) (3) of the Internal Revenue Code (the Code).

The College’s endowment includes the majority of the investments shown above and consists of individual funds established for a variety of purposes. The endowment includes both donor-restricted funds and funds designated to function as endowments. As required by U.S. generally accepted accounting principles, net assets associated with endowment funds, including funds designated to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions.” (Source)

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Top Doane College Endowment Fund Headlines:

1) Doane College Endowment is an endowment fund with $31.7 million in assets under management. The fund engages in alternative investment strategies that include: energy/oil & gas, real estate, and venture capital. It is based in Crete, Nebraska. (Source)

2) Doane College President Jonathan Brand would say that Doane’s fiscal performance during his six-year tenure isn’t evidence of his administration’s success, but the work of an even longer legacy.

“It’s not a reflection of five or six years of strength,” Brand said. “It’s a reflection of 140 years of strength.”

Despite the Great Recession, Brand and his administration were still able to afford five major construction programs and academic expansion during his presidency. Last September, Brand outlined changes the school made to offset the economic downturn in his five-year report to Board of Trustees Chairman Ken James.

The sixth-year president noted “budgetary discipline,” a modified investment plan and a conservative debt policy as the college’s main efforts in steering through the recession. He said these were all in line with the college’s “historic commitment to fiscal prudence.” (Source)

3) Doane College and its 12th president Jacque Carter have announced the search for the Vice President for Advancement and invite nominations and applications for this exceptional opportunity. The Vice President will provide dynamic, proven leadership for the Office of Advancement, developing a program and actions consistent with the College’s new strategic plan that will result in increased fundraising, enhancement of Doane College’s financial ability to serve its students, and engagement of the College’s constituencies in ways that are mutually beneficial. The Vice President must also be an effective member of the president’s cabinet working to advance the mission of Doane College on all of its campuses. (Source)

4) Thomas Doane, chief civil engineer of the Burlington and Missouri River Railroad, established Doane College in 1872. It is one of the oldest private liberal arts colleges in the state of Nebraska. Doane College has an undergraduate and graduate enrolment of about 3,000. (Source)

5) Doane College’s effort to raise $5.7 million to improve its athletic facilities received a boost recently when the Nebraska school received a $500,000 gift. The Kitty M. Perkins Foundation gave the $500,000 gift to the college last month. Doane’s Jerry Wood says the fundraising campaign should allow the college to upgrade its stadium and field house and help pay for a new recreation center. Doane has raised about $2.4 million so far toward its goal of $5.7 million. The Perkins foundation has ties to Nebraska because Kitty Perkins’ husband, Edwin, invented Kool-Aid in Hastings in 1927. The foundation has donated to a number of civic and education projects in the state. (Source)

About Richard C. Wilson