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Lebanon Valley College Endowment Fund

Name: Lebanon Valley College

Assets Under Management: $158 Million (Source: Lebannon Valley College on 6/30/2013)

Annual Report: Lebanon Valley College Financial Statements June 30, 2013 and 2012

Portfolio Insights: “Lebanon Valley College (the “College”) is a small, private, liberal arts college located in Annville, Pennsylvania. The College provides education services primarily at the undergraduate level. The College’s endowment consists of approximately 343 individual funds established for a variety of purposes. Its endowment includes both donor-restricted endowment funds and funds designated by the Board of Trustees to function as endowments.

The fair values of equity and fixed income mutual funds and commodities funds are based on the quoted market price of the underlying securities. The fair values of other investments, consisting primarily of short-term financial instruments, are based on values reported by external investment managers when available using quoted market prices or using prices for similar assets with similar terms in actively traded markets. Alternative investments are comprised of hedge funds and private equity investments, which are measured at fair value based upon the net asset value of their underlying investments.” (Source)

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Top Lebanon Valley College Endowment Fund Headlines:

1) Lebanon Valley College starts the academic year Friday with a record 1,677 students, which is on target to meet an enrollment goal of 1,700 by 2016. President Lewis Evitts Thayne also announced Thursday that the Middle States Commission on Higher Education has lifted the warning status placed on LVC in June 2012 in two categories: institutional and student learning assessments.

Thayne said the Middle States team’s final report complimented the college for bringing it into compliance in a short period of time. At the college’s opening breakfast, Thayne also distributed the traditional community contributions LVC makes in Annville. Annville-Cleona School District received $17,800, bringing the total given to the district by LVC to $165,000 in the past 10 years.

Annville Twp. received $11,450, which is half of the $22,900 the township will be getting this year. In 10 years, the township has received $240,000. LVC also donated $500,000 to the Annville downtown redevelopment project. (Source)

2) After a combined 47 years of service, two members of the Lebanon Valley College Board of Trustees have retired. Seven new members, including a faculty and student representative, joined the board to fill the retiree’s shoes.

Dr. E.H. Arnold H’87 was elected to the board on May 16, 1975, and served as a board member through five presidents and two acting presidents. He served as board vice chair since 1989, and joined the Finance and Investment Committee in the early 1980s, serving as committee chair since 1994. Arnold played an important role in financial review and oversight, and the improvement of LVC’s financial position during his tenure on the board. Under his leadership, full-time undergraduate enrollment increased from 1,015 to 1,611; endowment funds increased from $3 million to $41.5 million in 2010; the operating budget increased from just over $5 million in 1975-76 to $52 million for the coming year; and in 1991, the merit scholarship program was announced and since then full-time enrollment has doubled. (Source)

3) Leveraging Lebanon Valley College’s recurring gift structure and the generosity of an employer match, trustee and 1993 graduate Ryan Tweedie’s recent pledge will result in more than $100,000 for The Valley. Tweedie has pledged to donate a recurring monthly gift of $500 to the College, after already donating more than $40,000 toward various projects since becoming a trustee. The EY Foundation, established by Ernst & Young, will match his LVC giving for 2013, 2014, and into the future.

“LVC offers excellent academics, but equally important is that it offers a very diverse college experience,” Tweedie says. “I made friends and connections for life there, was in a fraternity as well as other social clubs, played formal and intramural sports, was involved in community activities, and more. That experience was very valuable to me, and I believe it’s a major differentiator for LVC.”

Tweedie joined the College’s Board of Trustees in 2010 and serves on the Advancement Committee as well as the Investment Committee. He was an exceptionally well-rounded student at The Valley, majoring in management, playing on the College’s golf and soccer teams, and pledging Tau Kappa Epsilon. (Source)

4) Lebanon Valley College announced the second round of annual grants awarded by the College’s President’s Innovation Fund. A total of 14 grants were awarded to 30 faculty members and administrators from 13 academic departments and six administrative offices of the College. These 14 awardees follow the 13 grants awarded in spring 2013, the inaugural year of the President’s Innovation Fund.

The grants, which are effective immediately, will fund projects ranging from the enhancement of two long-term LVC trademark programs—student-faculty summer research and annual Colloquium Series—to interdisciplinary and collaborative research between professors, undergraduate students, and members of the Lebanon Latino community.

“The success achieved by recipients of the inaugural President’s Innovation Fund grants reinforces our desire to support extensive faculty innovation and creativity,” Dr. Lewis E. Thayne, LVC president, said. “This next grant phase continues this inclusive collaboration between faculty and students, and between faculty in disparate academic fields, opening up new opportunities for our students to excel.” (Source)

5) As a parting gift to Lebanon Valley College, the outgoing governor announced on Tuesday the award of a $1.6 million grant to help fund the redevelopment and construction of the center. Corbett is dipping into the Growing Greener II pot to find the money for this grant. This grant program is intended to fund projects that support community downtown beautification.

The college is planning to build a 7,600-square-foot admissions center on a property at the southeast corner of the campus along Route 422 that the college acquired last fall. Construction of this facility, estimated to cost roughly $2.5 million, is projected to begin this summer. It also will serve as a welcome center for prospective and new students in addition to housing its admissions and financial aid office.

Corbett said in a news release announcing the grant that he was proud to partner with the college “to support the construction of this new center to welcome the next generation of dreamers and innovators to campus and to serve as the latest gem added to Annville’s main street.” (Source)

About Richard C. Wilson