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Manhattan College Endowment Fund

Name: Manhattan College

Assets Under Management: $261.6 Million (Source: Manhattan College on 6/30/2012)

Annual Report: Manhattan College Financial Statements June 30, 2013 (With Independent Auditors’ Report Thereon)

Portfolio Insights: “Manhattan College (the College) is a private independent institution of higher learning. The College was founded by the Brothers of Christian School, an order organized by St. John Baptist de La Salle, an education leader and social reformer. The College’s investments (including investment held by bond trustees) are reported at estimated fair value based upon quoted market prices or, with respect to alternative investments, at estimated fair value using net asset values, as a practical expedient, provided by the fund manager.

The College’s endowment consists of approximately 221 individual funds established for a variety of purposes, including both donor-restricted endowment funds and the funds designed by the College to function as endowment (quasi-endowment).” (Source)

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Top Manhattan College Endowment Fund Headlines:

1) Brennan O’Donnell, Ph.D., is the 19th president of Manhattan College, having assumed the responsibilities of the position July 1, 2009.

O’Donnell came to Manhattan after five years of service as the dean of Fordham College at Rose Hill, Fordham University. Before coming to New York, O’Donnell spent 17 years at Loyola College in Maryland (now Loyola University Maryland), where he served as a professor of English and, from 1999-2004, as director of the university-wide honors program. An active scholar, his teaching and research interests focus mainly upon poetry, especially of the British Romantic period, and on religion and literature, particularly contemporary American Catholic writers. He has authored two books on the poetry of William Wordsworth and co-edited The Work of Andre Dubus, a collection of essays published as a double issue of Religion and the Arts. In addition, O’Donnell has published articles, essays and reviews in some of the leading journals in his field. (Source)

2) William Clyde, Ph.D. joined Manhattan College as provost and executive vice president for academic affairs in July 2010. In this role, he coordinates the work of the academic deans, institutional research and assessment, all academic support services, the library and information technology. Since joining Manhattan College, Clyde has joined the Board of Union Community Health Center in the Bronx as part of the College’s outreach to the community.

Prior to his appointment at Manhattan, Clyde served as vice president for academic affairs at Queens University of Charlotte from July 2007 through June 2010. While at Queens, he served on the boards of Discovery Place, the preeminent science education center in Charlotte, and the World Affairs Council of Charlotte. Before joining Queens, Clyde was at Quinnipiac University from 1990-2007, where he held the positions of associate vice president for academic affairs, founding dean of the college of professional studies, and founding dean of academic technology, all after having earned the rank of professor of finance. (Source)

3) Manhattan College received $10 million, the largest donation in the school’s history, from Thomas O’Malley, the former chairman of the school’s board of trustees. The money will help finance the Raymond W. Kelly Student Commons, a student center named after 1963 alumnus and NYPD Commissioner Ray Kelly. Mr. O’Malley, a 1963 alumnus, said he was honored to provide the “lead gift” for the student commons. “Police Commissioner Ray Kelly does, in our view, reflect all that Manhattan College teaches. His success, service and unblemished reputation provides the model that we ask our students to aspire to,” Mr. O’Malley said in a press release. To date Manhattan College has raised $27 million for the student commons, which the school plans to break ground on by the end of the year. Mr. Kelly said he thought the commons’ namesake a reflected well on the entire police department. (Source)

4)  Like a plot twist in a novel, 18 lucky students at Manhattan College will benefit when bestseller author James Patterson gives back to his alma mater, the school he hadn’t planned to attend. Patterson dreamed of going to Harvard University, but unbeknownst to him, his high school principal only sent his transcript to the Riverdale college. “That school was always dedicated to educating the lower and middle class, and really getting students to understand that they had a moral imperative to give back,” Patterson told the Daily News in a phone interview. Now he is offering eight juniors and eight seniors $5,000 each in scholarships. The awards will be announced this summer for the new school year. College President Brennan O’Donnell said the students eligible for the awards are “emerging stars.” “They work in student government, organize and lead the Lasallian Outreach Volunteer service trips (and) tutor in the local schools…while excelling in classes,” said O’Donnell. (Source)

5) The Brothers of the Christian Schools, District of Eastern North America (DENA) will contribute $789,554 to Manhattan College. The donation will benefit both the College’s Christian Brothers Scholarships, which provide scholarships to economically disadvantaged students, and the Brother Thomas J. Scanlan, FSC, Endowment for Lasallian Heritage to further support and fund professional development and activities for faculty and staff.

The DENA gift is a direct result of two residential properties owned by the Christian Brothers recently sold on Tibbett Avenue in Riverdale. The Brothers’ District administration has decided to donate half of the proceeds to Manhattan College.

“The College is grateful for the generous gift, which will contribute significantly to our core mission as a Lasallian college, providing direct assistance to students in need and strengthening faculty and staff development programs,” said Brennan O’Donnell, Ph.D., president of Manhattan College. (Source)

About Richard C. Wilson