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Salve Regina University Endowment Fund

Name: Salve Regina University

Assets Under Management: $161.5 Million (Source: Salve Regina University on 6/30/2014)

Annual Report: Consolidated Financial Statements and Supplementary Information Salve Regina University June 30, 2014 and 2013

Portfolio Insights: Salve Regina University (the “University”), located in Newport, Rhode Island, is a small comprehensive Catholic university which opened in 1947 and is accredited by the New England Association of Schools and Colleges. The University was founded by and continues to be sponsored by the Sisters of Mercy.

The University’s endowment consists of approximately 60 individual funds established for a variety of purposes. Its endowment includes both donor-restricted endowment funds and funds designated by the Board of Trustees to function as endowments. (Source)

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Top Salve Regina University Endowment Fund Headlines:

1) Jane Gerety, RSM, became the seventh president of Salve Regina in July 2009, bringing to the University a rich variety of academic and administrative experiences, as well as a strong commitment to the Sisters of Mercy and its various missions.

Sister Jane came to Salve Regina from Saint Joseph’s Health System in Atlanta, where she served as senior vice president, sponsorship and corporate compliance officer before being appointed executive board officer in 2008.

Prior to her tenure at Saint Joseph’s, Sister Jane was the academic dean at Carlow University in Pittsburgh, where she also served as an associate professor of English and director of the public leadership program. She has also taught at the junior high and high school levels.

Sister Jane holds a bachelor’s degree in French from Mount Saint Agnes College in Maryland, a master’s degree in French from Middlebury College in Vermont and a Ph.D. in English from the University of Michigan. (Source)

2) Salve Regina University announced the establishment of a new graduate program in nursing, supported by a $1-million gift from the Rodgers Family Foundation.

“We are proud to continue our longstanding tradition of educating nursing professionals to be exceptional caregivers and leaders in their field — hallmarks of the Salve Regina nursing graduate,” said Salve Regina President Jane Gerety, RSM.

The program is designed to meet the needs of working professionals, according to Eileen Gray, nursing department chairwoman. It is also a hybrid program, which means that students will meet with their professor once a month while studying online.

Part-time graduate students can complete the program in five years, including summer instruction. The opportunity to take coursework on a full-time basis may be offered to students as the program grows. (Source)

3) Salve Regina University will use a $1 million gift from the Alletta Morris McBean Charitable Trust to endow its first named academic program in honor of the late preservationist Noreen Stonor Drexel.

Drexel, who died in 2012, was a longtime Salve Regina trustee and had been awarded an honorary doctorate in humane letters during the university’s 1999 commencement. She was instrumental in many of the university’s efforts to restore buildings on campus.

The gift and the naming of the Noreen Stonor Drexel Cultural and Historic Preservation Program will be formally announced to the university community during a private reception on Tuesday at the university.

“In naming and endowing the Noreen Stonor Drexel Cultural and Historic Preservation Program, we are stewarding the progress of this institution toward ever-increasing excellence,” said Sister Jane Gerety, the university president, in a statement. “Mrs. Drexel will continue to be, as she always was, Salve Regina’s guardian angel.”

Drexel championed preservation and adaptive reuse of the university’s historic buildings, said Donald Christ, chairman of the Alletta Morris McBean Charitable Trust, during the university’s 2008 dedication of Stonor and Drexel Halls and of the Alletta Morris Archway. (Source)

4)  In an effort to open community conversations about the challenges facing veterans returning from war, The Pell Center at Salve Regina University will host a theater production of the Greek tragedy “Ajax” at five Rhode Island locations. The one-act Greek tragedy may be ancient, but its controversial subject matter is still relevant today as it introduces audiences to the emotional trauma of war. Following each production, the Pell Center will sponsor a community conversation about the issues facing veterans of America’s recent wars. The production will premiere Tuesday, Veterans Day, at 7 p.m. and run for three consecutive nights at Salve Regina University’s Megley Theatre, at the Antone Academic Center, in Newport. (Source)

5) Since 1994, when Sister Therese was appointed president of Salve Regina, the university’s endowment has grown from $1.3 million to more than $40 million. Nearly $90 million of improvements have been made to the campus and the university has raised more than $65 million.

During her tenure as president, the number of freshman applications for admission soared by more than 300 percent, from 1,391 in 1994 to 5,801 in 2007, an all-time high. During this same time, total university enrollment increased 8.35 percent.

Sister Therese was instrumental in establishing the Pell Center for International Relations and Public Policy in 1996. The center honors Rhode Island’s longest-serving and most distinguished U.S. senator while bringing the world of government, global issues, and international politics to the forefront of the university’s consciousness.

About Richard C. Wilson