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Randolph-Macon College Endowment Fund

Name: Randolph-Macon College

Assets Under Management: $219.3 Million (Source: Randolph-Macon College on 6/30/2012)

Annual Report: Randolph-Macon College Financial Report June 30, 2012

Portfolio Insights: “Randolph-Macon College (the “College”) is a private, undergraduate, coeducational, liberal arts college located in Ashland, Virginia. The College’s curriculum emphasizes the liberal arts and sciences and includes 31 major fields of study.

Investments in marketable securities with readily determinable fair values and all investments in debt securities are reported at their fair values. The fair values of investments in equities, fixed income, and cash and cash equivalents are determined by reference to quoted market prices and other relevant information generated by market transactions. Net unrealized and realized gains or losses are reflected in the statements of activities. Certain land and other investments which are not readily marketable are carried at cost.” (Source)

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Top Randolph-Macon College Endowment Fund Headlines:

1) A Richmond attorney has donated $2.6 million to Randolph-Macon College in Ashland. School officials say the donor earmarked most of the money for local scholarships and for the athletic department.

Everette “Buddy” Allen, a 1962 Randolph-Macon graduate, says the scholarship assistance he received contributed to his success. He says that he and his wife, Ann, wanted to offer Richmond-area students the same opportunities to attend Randolph-Macon. College officials said that $1.25 million will be used to establish a scholarship fund with preference given to Richmond city public school students, students participating in a college-preparation and mentoring program and students transferring from Richmond’s J. Sergeant Reynolds Community College.

Allen says that $1 million of his gift will create an athletic endowment fund to support the school’s Division Three sports programs. (Source)

2) The purpose of a Randolph-Macon education is to develop the mind and the character of its students. They are challenged to communicate effectively, to think analytically and critically, to experience and appreciate the creative process, to develop qualities of leadership, and to synthesize what they know with who they are.

At Randolph-Macon College the liberal arts constitute a comprehensive educational opportunity. The curriculum includes exposure both to broad perspectives and specific concepts. Students explore the natural and social sciences, the arts, and the humanities, while they also achieve a deeper understanding of the single discipline in which they major. They are guided in this endeavor by a faculty of teacher-scholars who are dedicated to the liberal arts and active in their professional disciplines and in the extra-curricular life of the campus. (Source)

3) Randolph-Macon College is a small, private liberal arts school 20 miles up I-95 from Richmond, but this week it is looming large in a race of national significance: It is home to both candidates vying to replace outgoing Republican House Majority Leader Eric Cantor .

Democratic nominee Jack Trammell teaches sociology here and David Brat —the dark horse who defeated Mr. Cantor in the GOP primary Tuesday—-teaches economics. Their offices are just a few blocks apart. (Source)

4) The Randolph-Macon College community will celebrate the life of Dr. Martin Luther King Jr. on January 15, 2015 from 12 – 1 p.m. in Blackwell Auditorium, R-MC Center for the Performing Arts (205 Henry St). Virginia Secretary of Commerce and Trade Maurice Jones will serve as the guest speaker. This event is free and open to the public.

Maurice Jones was appointed secretary of commerce and trade by Virginia Governor Terry McAuliffe in January 2014. Previously, Jones served as deputy secretary for the U.S. Department of Housing and Urban Development (HUD). (Source)

5) “This is an historic occasion in the life of Randolph-Macon College,” said Lindgren. “The overwhelming generosity of these individuals is further confirmation of their belief in the future of Randolph-Macon College. Our students, faculty and future generations will benefit greatly from these extraordinary gifts. And this is just the beginning,” Lindgren shared with an enthusiastic, ecstatic crowd.

Noted philanthropists Macon and Joan Brock from Virginia Beach have made an initial $5.1 million gift to the College’s pending capital campaign. The Brocks’ gift will be directed to three essential priorities for the college: first, funding for a high priority capital project, to be determined upon the completion of the College’s campus master plan, currently underway; second, a vital commitment for a professorship and targeted academic program support; and finally, the Brock’s gift will fund exciting initiatives, including a speakers program and support for R-MC’s career services, to further engage and benefit students. (Source)

About Richard C. Wilson