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Lewis & Clark College Endowment Fund

Name: Lewis & Clark College’s Office of Business and Finance

Assets Under Management: $442.6 Million (Source: Lewis & Clark College on 5/31/2014)

Annual Report: Report of Independent Auditors and Financial Statements for Lewis & Clark College May 31, 2014 and 2013

Portfolio Insights: “Lewis & Clark College (the College) is a private, nonprofit institution of higher education based in Portland, Oregon. The College provides education and training services for undergraduate students through the College of Arts and Sciences, for graduate students through the Graduate School of Education and Counseling, and for law students through the Lewis & Clark Law School. The College performs research, training, and other services under grants and contracts with sponsoring organizations, which are primarily departments and agencies of the United States government.

The financial statements of the College have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. Net assets, revenues, expenses, gains, and losses are classified based on the existence or absence of donor‐imposed restrictions.” (Source)

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Top Lewis & Clark College Endowment Fund Headlines:

1)  The Business Office is responsible for endowment, trusts and other investments of the college. Lewis & Clark College, formerly known as Albany Collegiate Institute, was founded in 1867 when Albany residents raised $8,000 in cash and promissory notes to erect a building for the school on land donated by Thomas and Walter Monteith. Over the years, thousands of donors have established endowed funds for scholarships, professorships, and many other purposes. Today, Lewis & Clark’s endowment comprises of nearly 70 funds with a market value of $229.7 million as of May 31, 2014.   The endowment at Lewis & Clark plays a vital role in supporting the college’s educational mission.

The long-term financial objective for the endowment is to preserve and enhance the value of the principal in order to provide a stable stream of earnings in perpetuity supporting the College’s spending needs. The College’s Investment Committee provides oversight for the endowment investment management. (Source)

2) Carl Vance joined Lewis & Clark College on August 1, 2006 as Vice President of Business and Finance.Mr. Vance had been Linfield College’s vice president for finance and business since 1996.Prior to Linfield, Vance served for ten years as the vice president for business and finance at Occidental College, where he directed legal, administrative and financial operations.Before joining Occidental, he was deputy director for the Santa Barbara Museum of Art and exhibitions associate at the Los Angeles County Museum of Art.Vance earned a B.A. in economics from the University of Illinois, an M.B.A. in arts management from the University of California at Los Angeles, and an Advanced Executive M.B.A. from Claremont Graduate University.Vance resides in Lake Oswego with his wife, Mariette Martin. (Source)

3) A native of British Columbia, Dr. George Battistel comes to Lewis & Clark from the University of Portland, where he has been the Controller for the past two years and a Professor of Accounting for seven years. George brings to the job many years of experience as a professor, consultant, controller, and auditor. He received his B.A. in Economics and Commerce from Simon Fraser University in Burnaby, B.C., his M.B.A. in Finance from the University of British Columbia in Vancouver, B.C., and his Ph.D. in Accounting from the University of Oregon. George has also earned his Certified General Accountant (CGA) credential, which is similar to the Certified Public Accountant (CPA) credential in the U.S. We are very pleased that George will be joining the Business Office team on August 1, 2008. (Source)

4) Lewis & Clark College administrators have launched an investigation and are restricting students’ access to campus dorms after discovering racially charged anonymous comments on social media.

The comments on Yik Yak, an online app that works like an anonymous message board, came in response to another user who posted a reminder Nov. 14 about a campus conversation about race planned for that night. (Source)

5) Lewis & Clark College has received a $12 million gift from Robert B. Pamplin Jr., president of R.B. Pamplin Corp. and chairman of the college’s board of trustees. The money will finance the Pamplin Society of Fellows, providing for four faculty positions and, year after year, giving seven specially chosen students in each class full scholarships and stipends of $500 each.

“This historic effort will link professors and students with proven ability and ambition,” Pamplin said. “Moreover, a place in the Fellowship will be guaranteed to members of ethnic groups traditionally excluded from the advantages of mainstream America.”

The Pamplin program will endow professorships in history, economics, government and science at $1.5 million each. With seven students selected from each freshman class, a total of 21 sophomores, juniors and seniors will be involved in the program each year. (Source)

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