Name: Grand Valley State University
Assets Under Management: $656 Million (Source: Grand Valley State University on 6/30/2014)
Portfolio Insights: “Grand Valley University Foundation (GVUF) is a Michigan nonprofit corporation established to solicit, collect, receive, and administer funds to advance the mission and goals of the University. In accordance with the provisions of GASB Statement No. 61, GVUF is blended into the University’s financial statements because the University has operational responsibility for GVUF and GVUF provides services entirely for the benefit of the University.
The total net position of the University increased by $54.0 million between 2012 and 2014 due to an increase of $72.4 million in capital assets (net of outstanding debt), generous support from donors to endowments added $11.0 million, and endowment investment income returns of 29.9 percent over the two-year period added $17.9 million, net of spending.” (Source)
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Top Grand Valley State University Endowment Fund Headlines:
1) The Seidman School of Business at Grand Valley State University is the home of the State Headquarters for the Michigan Small Business & Technology Development Center network. This state center supports 12 regional offices and over 60 satellite offices, each providing counsel and training to small business owners and entrepreneurs throughout the 83 counties in Michigan. (Source)
2) Grand Valley State University is honoring women in sports. Alumni and current students at Grand Valley State University who have played varsity sports, club sports or majored in movement science will be honored at an event during the university’s Family Weekend. The Celebration of Women in Sports and Physical Activity is set for Saturday, October 5, 5:30 p.m. at the Alumni House. The event follows a Laker volleyball game and precedes a football game. Cari Draft, ’88, owner of Ecotrek Fitness, will be the keynote speaker. (Source)
3) This year more than 15,000 donors helped the Grand Valley University Foundation raise more than $11 million for designated scholarships, programs, and specific projects and pass the $100 million mark for the first time for the university’s endowment.
Several milestones were achieved this year including a record amount of new gifts and pledges from alumni, faculty and staff, and corporations. Twenty-one new scholarships were created in the year, bringing the total number of private scholarships to 361, reaching thousands of students each year. Our Gillett Society grew again this year and now includes 314 members who have made provisions in their estate plans to benefit the university.
As the base of support for Grand Valley continues to expand, more alumni, community members, corporations, foundations, faculty and staff, and students and their families are helping us imagine the future for Grand Valley and for our students. We are grateful to all of our donors and look forward to building the future together. (Source)
4) Grand Valley State University students will benefit from a $10 million early-stage venture fund to support life science and technology in West Michigan. The venture capital fund, called Michigan Accelerator Fund 1 (MAF1), was announced by The Charter Group.
The new fund is made possible through a $6 million award from Michigan’s 21st Century Jobs Fund, a program of the Michigan Economic Development Corporation. Grand Valley State University is an investor in the fund, and the Seidman College of Business, the Center for Entrepreneurship & Innovation, the West Michigan Science and Technology Initiative, and the Padnos College of Engineering and Computing were named as business and technical advisors of MAF1. (Source)
5) President Thomas J. Haas is Grand Valley State University’s fourth president. Dr. Haas has had a distinguished career in higher education for more than 35 years. He has served as a tenured faculty member, department chair, dean, vice president and president. Just prior to his appointment as president of Grand Valley State University in 2006, he was president of the State University of New York, Cobleskill. Haas is also a professor of chemistry in the College of Liberal Arts and Sciences. Students affectionately call him “T-Haas.”
During his tenure, Grand Valley has seen a steady rise in enrollment to more than 25,000 students, and dramatic increases in the number of graduates, now more than 5,300 per year. During the same time, 32 new majors have been established, including the Doctor of Nursing Practice and nine other graduate programs. (Source)