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Macalester College Endowment Fund

Name: Macalester College

Assets Under Management: $1 Billion (Source: Macalester College on 5/31/2014)

Annual Report: Macalester College’s Audited Financial Statements – May 31, 2014

Portfolio Insights: “Macalester College (“the College” or “Macalester”) is a four year, coeducational, residential, private liberal arts college. Founded in 1874, the College is located in the urban setting of Saint Paul, Minnesota and is accredited by the North Central Association of Colleges and Secondary Schools.

The accompanying financial statements are presented on the accrual basis of accounting. To ensure the observance of limitations and restrictions placed on the use of available resources, the College maintains its accounts in accordance with the principles and practices of fund accounting. Fund accounting is the procedure by which resources for various purposes are classified for accounting purposes into funds that are maintained in accordance with activities or objectives of the College. For external reporting purposes, however, the College’s financial statements have been prepared to focus on the organization as a whole and to present balances and transactions classified in accordance with the existence or absence of donor-imposed restrictions.” (Source)

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Top Macalester College Endowment Fund Headlines:

1) Sustainability is incorporated into the college’s master plan, and a green purchasing policy is currently under review. The Sustainability Advisory Committee implements the institution’s sustainability strategic plan, and the Zero Waste Advisory Committee works on initiatives such as the Mac Free Swap program. The sustainability office employs a full-time manager. Departments develop their own sustainability action plans, and all staff receive sustainability training. A revolving loan fund and a green alumni fund sponsor some sustainability projects. (Source)

2) Oct 5, 2010 – The $587 million endowment fund of Macalester College has named Perry as its CIO. He will succeed Craig Aase, who is retiring. Perry has been CIO at Maryland since April 30, 2008. Before that, he served at Minnesota State Board of Investment as assistant executive director and deputy CIO. (Source)

3) Moody’s believes Macalester College will continue to enjoy good national student demand for its programs, although it will face heightened competition from institutions both with national draw or those with a regional presence. Located in St. Paul, Minnesota, Macalester College is a private, four-year liberal arts institution affiliated with the Presbyterian Church. The College has experienced moderate enrollment growth, reporting enrollment of 2,002 FTEs in Fall 2010 from 1,872 FTEs in Fall 2008. Macalester does not intend to further grow enrollment.

Demand has been good, with applications from across the nation as well as internationally. Macalester has shown good selectivity generally about 42%, substantially improved from 53% in Fall 2000. Matriculation has been generally around 28% over the same timeframe, reflecting the strong national competition for the College. The College has a national draw, with 87% of the Fall 2010 freshman class coming from outside the state of Minnesota, including 11% international students. Although Minnesota is projected to experience a decline in high school graduates, with its strong international focus and national draw, we believe Macalester will not be impacted by the demographic challenge in a major way. (Source)

4) Macalester College, one of the nation’s finest and most renowned liberal arts colleges, seeks a vice president for advancement to lead its development, alumni relations, and communications efforts to a new level of attainment in pursuit of the college’s goals. The new vice president will have the opportunity to build on a decade-long record of success in the development of Macalester’s philanthropic culture, including especially the execution of the most successful campaign in the college’s history. (Source)

5) Macalester College is committed to an international focus, regularly enrolling students from more than 90 countries (one of the highest percentages of foreign students in the United States), and about 60 percent of the student body studies abroad. Macalester meets the full financial need of admitted students—1 of only 70 colleges nationally that does so—and two-thirds of its 1,978 undergraduates receive financial aid, which helps to offset a total annual cost of $57,478. In addition to Macalester’s 37 majors and 63 areas of study, an arrangement between Macalester and both the University of Minnesota and Washington University in St. Louis makes it possible for a student to earn a BA degree from Macalester and a BS degree in engineering or applied science from either university in five years. (Source)

About Richard C. Wilson