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Goshen College Endowment Fund

Name: Goshen College

Assets Under Management: $193.7 Million (Source: Goshen College on 6/30/2008)

Annual Report: Goshen College, Inc. Goshen, Indiana, Financial Statements June 30, 2008 and 2007

Portfolio Insights: “Goshen College, Inc. is a four year co-educational college fully accredited by the North Central Association of Colleges and Secondary Schools. Goshen College, Inc. generates its operating revenue primarily from student tuition, investment earnings and gifts.

Investments in marketable securities with readily determinable fair values and all investments in debt securities are valued at their fair values in the statement of financial position. Unrealized gains and losses are included in the change in net assets.” (Source)

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Top Goshen College Endowment Fund Headlines:

1) Albrecht donated $2 million to Goshen College, the school announced this week — one of the largest single gifts in the school’s history. Goshen College President James Brenneman said the gift, invested in the school’s endowment, will be used to fund student scholarships. Albrecht’s donation “will literally keep giving off scholarship as long as that endowment lasts,” Brenneman said. Albrecht, 93, started at Goshen College in 1939 and finished three semesters. But when his brother Marion joined the Civilian Public Service in 1940, he returned to the family farm in Morton, Ill. After a six-month stint in Poland, teaching farm machinery repair for the Mennonite Central Committee, Albrecht and his brother started their own farm in Morton. He also began donating to Goshen College, mainly to fund nursing scholarships. (Source)

2) Goshen College’s $95.8 million endowment leaves the other U.S. Mennonite colleges far behind. In a distant second tier are Eastern Mennonite University, Bluffton University and Bethel College, each with an endowment between $18 million and $20 million. Which sounds like a lot of money. But not by college endowment standards. Even Goshen’s endowment “is not anywhere near as large as it needs to be,” said Jim Histand, the college’s vice president for finance. (Source)

3) Goshen College is a liberal arts college dedicated to the development of informed, articulate, sensitive, responsible Christians. As a ministry of the Mennonite Church, we seek to integrate Christian values with educational, social and professional life. As a community of faith and learning, we strive to foster personal, intellectual, spiritual and social growth in every person. We view education as a moral activity that produces servant-leaders for the church and the world. At Goshen College we intend to create a community of faith and learning built on five core values: Christ-centeredness, passionate learning, servant leadership, compassionate peacemaking and global citizenship. (Source)

4) Goshen College is led by the president and President’s Council, who work collaboratively with the Board of Directors to achieve the educational and institutional outcomes articulated in the mission, vision and core values. Governance processes incorporate participation from faculty, students, administration and staff through a variety of channels. Goshen College is linked to its founding denomination, Mennonite Church USA, via the Mennonite Education Agency, which appoints a majority of the Goshen College Board of Directors. (Source)

5) June 30, 2008 – Goshen College President James E. Brenneman announced Friday that John D. Yordy, the college’s provost and former interim president, will retire June 30. Brenneman also announced that Executive Director of Enrollment Lynn Jackson has been promoted to the new position of vice president for enrollment management and that the president will supervise campus vice presidents starting next month under a new leadership structure.“These important decisions were affirmed by the Goshen College Board of Directors at its meeting last week and are the result of much study, deliberation and prayer,” Brenneman said. “While we will miss John’s day-to-day leadership, I believe our leadership team will rise to the opportunity. That said, I ask for the prayers, grace and support of Goshen College students, faculty, staff, alumni, donors and other supporters.” (Source)

About Richard C. Wilson