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Endicott College Endowment Fund

Name: Endicott College

Assets Under Management: $215.5 Million (Source: Endicott College on 6/30/2013)

Annual Report: Endicott College Financial Statements June 30, 2013 and 2012 (With Independent Auditors’ Report Thereon)

Portfolio Insights: “Endicott College (Endicott or the College) is located on a 235-acre oceanfront campus in Beverly, Massachusetts, 30 miles north of the City of Boston. Founded in 1939, Endicott is a private coeducational, not-for-profit, non sectarian institution of higher education.

The College’s endowment consists of 72 individual funds established for a variety of purposes including both donor-restricted endowment funds and funds designed by the Board of Trustees to function as endowments. Net assets associated with endowment funds, including funds designed by the Board of Trustees to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions.” (Source)

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Top Endicott College Endowment Fund Headlines:

1) Located just north of Boston in Beverly, Massachusetts, Endicott is a small, seaside private college with a strong community and a proven experiential learning model. State-of-the-art academic facilities partner with private beaches and distinctive residential options to create a unique and fulfilling college environment for our students. Dedicated faculty and staff guide students in their growth and learning, creating experienced and confident graduates.

Endicott has a rich history: founded as an all-women’s college in 1939 by Dr. Eleanor Tupper and her husband, Dr. George O. Bierkoe, Endicott has grown steadily since. From a premiere graduating class of 20 in 1941 to over 600 in 2013, positive growth has been the hallmark of the College.

Today the Endicott campus consists of 235 acres with 53 buildings and 28 residence halls. Our student body ranges from 2,500 traditional residential undergraduate students to 2,700 adult learners and graduate students at satellite campuses across the state and the globe as part of the Van Loan School of Graduate and Professional Studies. (Source)

2) Dr. Richard E. Wylie is Endicott College’s fifth and current president. Prior to assuming that role in 1987, he served as a professor and administrator at the University of Connecticut, Temple University, the University of Colorado, and Lesley College. He holds a Bachelor degree from Plymouth State College and Master and doctoral degrees from Boston University.

Dr. Wylie has published articles and lectured in the areas of innovative programming for adult learners and international education.  He has authored articles on higher education and a monograph on bilingual/multicultural education.  In addition, he has published a variety of books for young children.  President Wylie has a long and successful history of raising money from foundations and individuals. Throughout his career, President Wylie has been active in international events and programs in more than 30 countries including: Ethiopia, Spain, Brazil, Mexico, Bahrain, and Turkey.   His accomplishments have earned him such recognitions as the Dr.  Jack Mombourquette Award for International Education, the Dr. Richard J. Bradley Award for his contributions to school improvement through accreditation in New England, and he was recently named an Aspen Institute Ascend Fellow.  He was one of the founders and first chair of the Board of Trustees for the Urban College of Boston. (Source)

3) Endicott College is proud to be a part of the rich cultural tradition of the North Shore. Like many other institutions of higher learning, we seek to contribute to the social, educational, and economic health of our community. Think of the cities and towns where colleges are located–Wellesley, Amherst, Newton, and Boston to name just a few. The college’s name becomes synonymous with that of the city or town. And with good reason. Colleges attract not only thousands of students, but also thousands of visitors, enhancing the reputation of their communities. As Endicott has grown to become an institution that is nationally and inter-nationally recognized, we have been pleased to shine the spot light on our home town. (Source)

4) Endicott College is increasing its donation to Beverly to $500,000 over the next three years, a total that includes the equivalent of the real estate taxes on two estates it has purchased in recent years. Endicott announced the donations in a letter last month to Mayor Bill Scanlon, who praised the gesture in his State of the City address last week.

“The positive impact of Endicott’s remarkable growth over the past 25 years under the direction of President Richard Wylie is unmistakable,” Scanlon said.

Endicott, which as a nonprofit does not pay property taxes, has been donating $110,000 per year to the city for the last three years. Those payments will increase to $166,667 starting in July. The new amount includes $66,667 that the college says is the approximate tax value of Hamilton and Wenham halls and Beechwood, two estates the school bought in 2008 and 2010. Hamilton and Wenham halls are now student residences, while Beechwood serves as Wylie’s home.

Wylie said the college will continue the practice of paying the equivalent in real estate taxes for properties it purchases in the future. “We want to be an example of what is right,” he said. (Source)

5) Endicott College in Beverly recently named its center for the arts  in honor of Walter J. Manninen  of Rockport. In making the announcement, college president Richard E. Wylie  thanked Manninen for his generous commitment to the college.

“Walter has donated his renowned art collection to the college, consisting of more than 200  works by important American artists with connections to Cape Ann and Massachusetts, including many pieces by acclaimed artist Theresa Bernstein,”  Wylie said. “His deferred gift, including the art collection, is valued in the millions of dollars. To honor Walter’s vision, his generosity, and his passion for the arts, Endicott is both pleased and proud to name the college’s new art center the Walter J. Manninen Center for the Arts, and endow a chair in the fine arts in his name.”

The arts center opened in January 2009,  and has since received thousands of visitors each year for theater, music, art exhibitions, gallery talks, and a variety of events and programs. (Source)

About Richard C. Wilson