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Elon University Endowment Fund

Name: Elon University

Assets Under Management: $579 Million (Source: Elon University on 5/31/2013)

Annual Report: Elon University Financial & Audit Report May 31, 2013 & 2012

Portfolio Insights: “Elon University is a private institution of higher education located in Elon, North Carolina.

The university’s investments include a diverse portfolio of securities and investment vehicles. The university reports investments in marketable securities with readily determinable fair values and all investments in debt securities at fair value in the Consolidated Statements of Financial Position.” (Source)

Our team, the Endowment Fund Association (EFA) and is the #1 community and most visited website dedicated to endowment fund professionals.  We provide endowment funds with buy-side co-investment and direct investment deal origination services, outsourced chief investment officer selection help,  and also provide Endowment 500 research and Endowment Database Solutions.

Top Elon University Endowment Fund Headlines:

1) With the passing of the 2014-2015 fiscal budget, Elon University reaffirmed its commitment to a slow growth model, increasing tuition by 3.69 percent and bringing the total cost of an Elon education to $41,914 per year for students living on campus. Students living off campus can expect to pay $30,848.

Gerald Whittington, senior vice president for business, finance and technology, said part of the problem is the university’s endowment, currently valued at $183 million. Though the university plans to triple it by 2020, the funds still pale in comparison to schools such as the University of Richmond — one of Elon’s main competitors — which boasts an endowment valued at just over $2 billion. (Source)

2) Chris Fulkerson is the Assistant Vice President for Administrative Services and Assistant Professor of Communications.  He is responsible for Auxiliary Services, The Phoenix Card, and Risk Management (Insurance and Compliance).

On January 2000, Mr. Fulkerson was appointed the first Chief Information Officer for Elon University and was responsible for the leadership and management of all technology at Elon University—a position he held until June of 2014.  Since joining the staff in 1982, Mr. Fulkerson has held various positions including Director of the Library, Director of LaRose Resources Center, Director of the Teagle Professional Development Program, and Coordinator of Cable/Satellite Television.  In May of 2007, he was selected as administrative staff member of the year.

Mr. Fulkerson speaks nationally on such topics as classroom technology, teaching with technology, technology planning and forming a partnership between the library and technology. Additionally, he is active in EDUCAUSE at the regional and national levels. (Source)

3) Elon’s current endowment of about $60 million ranks last among the U.S. News & World Report top-ranked private Southern universities. The average endowment for private schools in that group is more than $300 million. Among the private schools that Elon competes directly with for admissions, the average endowment is more than $360 million. Every school in both groups has an endowment of at least $100 million, with the highest endowment reaching nearly $1 billion.

For people outside of higher education, the concept of an endowment may be a bit of a mystery. I liken it to a family’s savings account, with some important differences. (Source)

4) The provost manages internal administrative operations of the university and acts in the absence of the president. The Provost provides leadership and direction for the long-range planning process, the annual priorities for action, and the budget. The provost/vice president for academic affairs consults as appropriate with the Office of University Advancement. (Source)

5) Elon University has exceeded its fundraising goal by generating a total of $106 million, The Republic reports. The North Carolina–based selective private liberal arts university had set a target of $100 million.

The money has been raised in the university’s “Ever Elon” campaign, which was publicly launched three years ago. The private college in Alamance County will continue to collect donations in the campaign through the end of the year. (Source)

About Richard C. Wilson