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Oakland University Endowment Fund

Name: Oakland University

Assets Under Management: $766.6 Million (Source: Oakland University on 6/30/2014)

Annual Report: Oakland University Financial Statements June 30, 2014 and 2013

Portfolio Insights: “Following is Management’s Discussion and Analysis of the financial activities of Oakland University (University, Oakland or OU) for the fiscal year ended June 30, 2014 with selected comparative information for the year ended June 30, 2013 and 2012.

The University’s total assets were $766.6 million and $712.7 million at June 30, 2014 and 2013, respectively. The University’s largest asset is its investment in capital assets, including land, land improvements, infrastructure, buildings, equipment, library acquisitions, and construction in progress. Capital assets represent 59% and 49% of the University’s total assets at June 30, 2014 and 2013, respectively.” (Source)

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Top Oakland University Endowment Fund Headlines:

1) Oakland University raised nearly $112 million in a capital campaign to bolster research endowment funds, renovate classroom and laboratory spaces and create new scholarships, the school announced Monday. The total for the Campaign for OU comes nearly a year ahead of the university’s goal of raising $110 million by 2010. It was the first-ever capital campaign for OU.

The university said it has created 45 endowed scholarships, 36 research and program endowments, two endowed chairs, two professorships and brought in four lecture series through the funds. The campaign also led to the creation of the new writing center in Kresge Library and established new academic programs.

The campaign, which was launched in 2005, brought in 6,800 new donors and nearly 2,000 new alumni. (Source)

2) Oakland University journalism professors Holly and Garry Gilbert have created a scholarship endowment and planned gift to Oakland students interested in journalism, research and reporting. The Gilberts will make an annual contribution to the Holly and Garry Gilbert Oakland University Endowment for Safeguarding the Public Interest, and it will begin paying out within the next four years. Once the scholarship is fully funded, it will be awarded annually in perpetuity. (Source)

3) May 14, 2013 – James P. Lentini has been appointed Oakland University’s senior vice president for academic affairs and provost, OU President Gary D. Russi announced this week. Pending formal approval by the Oakland University Board of Trustees, his tenure will begin on Monday, July 8.

The senior vice president for academic affairs and provost is the university’s chief academic officer, with responsibilities for academic programs, personnel and resources. The primary duty of the provost is to ensure the quality of education and research at the bachelor’s, master’s, and doctoral levels.

In this position, Lentini will have oversight responsibility for the College of Arts and Sciences; the schools of Education and Human Services, Business Administration, Engineering and Computer Science, Nursing and Health Sciences; and the Oakland University William Beaumont School of Medicine. (Source)

4) During a scholarship breakfast hosted by the School of Education and Human Services, the Humana Foundation announced its intentions to donate $100,000 in support of Oakland University’s development of a medical school. OU and Beaumont Hospitals have partnered to develop the medical school, which will open its doors to students in 2010. Dur the breakfast, at which Humana’s President and Chief Executive Officer Mike McCallister spoke, Humana also donated $5,000 for scholarships for Human Resource Development students.

“We are pleased with the enthusiastic response from the community since we announced plans to create a medical school in partnership with Beaumont Hospital,” said Ted Montgomery, director of media relations for Oakland University. “We appreciate Humana making this commitment and supporting our vision to bring a high-quality medical education to Oakland County.” (Source)

5) Oakland University Board Member Dennis Pawley and his wife, Carlotta, donated $4 million to the university to name the School of Education and Human Services building Carlotta and Dennis Pawley Hall. The naming will be made official, pending board approval, at the board’s Feb. 4 meeting.

“Dennis and Carlotta Pawley are lifelong friends of Oakland University, and this tremendous gift is further testament to their love of and commitment to Oakland and to allowing our students to pursue their dreams,” said OU President Gary Russi. “Pawley Hall certainly will be among the many lasting legacies the Pawleys have bestowed upon Oakland University.”

In February 2002, the Pawleys funded a $1 million endowment to establish the Pawley Lean Learning Institute on Oakland’s campus. The Pawleys also are members of the Varner Society, an organization that recognizes donors to the university who have contributed between $5 million and $10 million. (Source)

About Richard C. Wilson