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Pacific Lutheran University Endowment Fund

Name: Pacific Lutheran University

Assets Under Management: $239.4 Million (Source: Pacific Lutheran University on 5/31/2012)

Annual Report: Pacific Lutheran University Tacoma, Washington Financial Statements Including Independent Auditors’ Report As of and for the Years Ended May 31, 2012 and 2011

Portfolio Insights: “Pacific Lutheran University (the “University”) is a private non-profit institution that offers a full range of liberal arts academic programs to undergraduate and graduate students.

The University’s endowment consists of 453 individual funds established for a variety of purposes. Its endowment includes both donor-restricted endowment funds and funds designated by the governing board to function as endowments.” (Source)

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Top Pacific Lutheran University Endowment Fund Headlines:

1) The Pacific Lutheran University relies on its endowment to provide support in perpetuity for a host of needs, including financial aid, research and faculty development. The principle of the endowment is never spent; only interest income is used for spending needs. Only 82% of the annual university budget is funded by tuition. Gifts to the university, many of which are invested in the endowment portfolio, fund 8% of the total annual university budget. The income from the endowment provides the university with greater financial stability and allows the university to implement its long-range plans. Most endowment gifts made to Pacific Lutheran University programs are pooled for investment purposes, creating a vehicle similar to a mutual fund. As gifts are invested in the pool, they effectively buy “shares” of the endowment. Each share is issued at a net asset value, allowing the university to “unitize” the endowment to calculate the value of its underlying investments. The university then manages these pooled funds. A small part of the university endowment is composed of non-pooled funds, which are held in trust by outside managers. This includes charitable trusts that are professionally managed for the benefit of more than one institution. While the university is entitled to an income from the contractually set portion of the trust, it is unable to make decisions regarding the management of those assets. (Source)

2) Gifts to the University’s endowment are not spent, but carefully invested to yield a steady, reliable source of income in perpetuity. As of May 31, 2013 the total value of the PLU endowment was $71 million.

Endowment income provides financial stability and allows the University to implement long-range plans. The endowment is also meant to provide cash to fund scholarships, undergraduate research, equipment, lectures, athletic facilities, some faculty positions, global education and other university programs. (Source)

3) The Board of Regents met Feb. 29 to receive the unanimous recommendation of the presidential search committee and elected Thomas W. Krise, formerly of St. Thomas, to be the thirteenth president of Pacific Lutheran University.

“His experience, his proven leadership ability and his understanding of the values and aspirations of the university make Thomas Krise a perfect fit with PLU,” said Bruce Bjerke ’72, chair of the Board of Regents. “I know the campus community will quickly embrace President Krise as we work together to meet the challenges and the great opportunities of the decade ahead.”

Thomas Krise, 50, has been Dean of the College of the Pacific, the arts and sciences college of the University of the Pacific in Stockton, California, since 2008.

He graduated from All Saints Cathedral School on St Thomas, Virgin Islands, (1979) and then earned a B.S. (1983) in history from the U.S. Air Force Academy, an M.S.A. (1986) in management from Central Michigan University, an M.A. (1989) in English from the University of Minnesota, and a Ph.D. (1995) in English from the University of Chicago. He is a member of the Phi Beta Kappa Society. (Source)

4) Pacific Lutheran University is a private university offering liberal arts and professional school programs located in Parkland, a suburb of Tacoma, Washington. (Source)

5) As a university of the first rank, Pacific Lutheran University seeks to maximize the achievement of its mission and become an internationally renowned model of the New American University, purposefully integrating the liberal arts, professional studies, and civic engagement.

As a Student Affairs division of the first rank, we are innovative professionals who engage students in effective programs and services that encourage lives of meaning and purpose which transform communities and the world. (Source)

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