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Millikin University Endowment Fund

Name: Millikin University

Assets Under Management: $246.2 Million (Source: Millikin University on 6/30/2013)

Annual Report: Millikin University Financial Report June 30, 2013

Portfolio Insights: “Millikin University (University) located in Decatur, Illinois, is a private, co-educational university founded in 1901 to provide students with both a strong liberal arts foundation and preparation necessary for success in their chosen fields.

The University’s Endowment Fund consists of various donor restricted endowment funds designated as endowment (quasi-endowment) by the Board of Trustees. The University considers contributions as part of the endowment only after the funds have been received and are available for investment.” (Source)

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Top Millikin University Endowment Fund Headlines:

1) The Millikin Fund directly affects the lives of our students and campus community – and does so immediately since gifts to the Fund are used to fill the gap created by the costs of the Millikin student experience that are unmet by tuition, room, and board.

Your dollars are put to work daily, helping to pay for the very things that maintain a quality Millikin experience, including a low student-to-faculty ratio, excellent instruction, updated library resources, technology upgrades and student scholarships. In fact, we would need to raise an additional $53 million in endowment funds to gain the income that is provided by $2.2 million in total annual gifts to the Millikin Fund. (Source)

2) The Millikin University Board of Trustees has announced the election of Dr. Patrick E. White as Millikin University’s 15th president.

White is currently serving as interim president at Millikin, a position he began July 2013. Prior to working at Millikin, White served seven years as the 15th president of Wabash College in Crawfordsville.

During his tenure at Wabash, White developed a student-focused strategic plan; guided the College through the financial turmoil of 2008-2009; completed a comprehensive academic program review and unqualified Self-Study Report that led to reaccreditation; secured a number of grants to establish new programs; achieved success in the Challenge of Excellence capital campaign that exceeded its $60 million goal; and completed a $6 million Athletics Field Campaign. (Source)

3) Millikin University’s Tabor School of Business will launch a student-managed investment fund in the fall. The fund will be capitalized with a $100,000 allocation from the university’s endowment.

As part of a three-semester course, finance majors will serve as security analysts and portfolio managers for the fund. Unlike similar programs elsewhere, Millikin’s fund will be incorporated into the curriculum for finance majors. Fund managers will be advised by faculty and industry professionals. (Source)

4) Millikin University hired active domestic midcap managers Messner & Smith and New Amsterdam Partners to run $2 million each, and committed $2 million to a Kayne Anderson Rudnick hedge fund of funds, said Ron Reck, vice president-business affairs.

Messner will run a value portfolio, and New Amsterdam will manage growth. The hedge fund of funds is the first such investment for the $55 million endowment, he said. Mr. Reck would not say how the allocations were funded. (Source)

5) The PPG Industries Foundation has donated $10,000 to Millikin University on behalf of PPG Industries’ (NYSE:PPG) Mount Zion glass manufacturing facility to support the iSmartgirls Discovery Day Camp operated by Millikin’s Center for Entrepreneurship. The technology-based camp is scheduled for two full-day sessions, Jan. 28 and Feb. 4, 2012, with a new iSmartgirls Reflective Day planned for March 10 at Rock Springs Environmental Center as a wrap-up for attendees of the earlier sessions.

“We are very happy to receive this generous support from PPG,” said Sharon T. Alpi, Coleman Foundation professor in the Millikin University Center for Entrepreneurship and director of iSmartgirls Discovery Camp. “This funding helps us to offer two, full-day iSmartgirls Discovery Days in 2012 and to enroll a total of 90 girls to attend. Additionally, we are introducing a sustainability-focused project for girls who attend our 2012 sessions to reinforce the science and technology that underlie recycling and related real-world issues.” (Source)

About Richard C. Wilson