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Schreiner University Endowment Fund

Name: Endowments – Schreiner University

Assets Under Management: $101.9 Million (Source: Schreiner University on 5/31/2010)

Annual Report: Schreiner University Financial Statements and Independent Auditors’ Report Year ended May 31, 2010

Portfolio Insights: “Schreiner University (the University) is a Texas non-profit corporation located in Kerrville, Texas. The University is independently governed and related by choice and by covenant to the Presbyterian Church (USA). The University considers all highly liquid short-term investments purchased with original maturities of three months or less to be cash equivalents.

The University’s endowment consists of individual funds established for a variety of purposes. As required by generally accepted accounting principles, net assets associated with endowment funds, are classified and reported based on the existence or absence of donor-imposed restrictions.” (Source)

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Top Schreiner University Endowment Fund Headlines:

1) After a national search, Schreiner University has selected Dr. Charlie McCormick as its new provost and vice president for academic affairs, the school announced today.

Schreiner University is a coeducational Presbyterian-related liberal arts college in Kerrville, TX, primarily undergraduate and residential, with an enrollment of just over 1,000.

McCormick, who will join Schreiner’s administration July 6, is wrapping up his duties at Cabrini College near Philadelphia, PA, where he is dean of academic affairs. Cabrini College is a Catholic coeducational residential institution that emphasizes community service.

McCormick holds a Ph.D. in folklore and folklife from the University of Pennsylvania, a master’s degree in anthropology from Texas A&M University–College Station, and bachelor’s degree in English from Abilene Christian University.

As provost and vice president for academic affairs, McCormick will be responsible for Schreiner’s academic programs and faculty, and when the president is absent from campus, assumes leadership of its day-to-day operation. (Source)

2) Comanche Trace recently presented a $25,000 check to Schreiner University on behalf of The Kemmerer Family Foundation. Attending the event were, left to right, Reggie Cox, Comanche Trace broker; Dr. Charlie McCormick, Schreiner provost and vice president for academic affairs; Michael Parker, comptroller, Comanche Trace; Dr. Lena Rippstein, Schreiner’s new program director for nursing; Curt Mitchell, Comanche Trace sales executive; Trevor Hyde, president of Comanche Trace; Mark Tuschak, Schreiner vice president for advancement and public affairs; Dr. Tim Summerlin, president of Schreiner University; Valerie Chambers, executive assistant, Comanche Trace; Sherri Jones, Comanche Trace membership and events; Rita Herbert, assistant for Comanche Trace membership and events; and Stacy Stavinoha, Comanche Trace sales executive. Not shown: Kallee McClinton, Comanche Trace director of marketing. (Source)

3) The Schreiner Shooting Sports Team recently was the recipient of a $10,000 donation from the Rocky Mountain Elk Foundation. The endowment will generate $500 per year for the shooting team.

“This will give our team a nice income base for the foreseeable future, and let us shoot more and travel more,” said Bill Thomas, Schreiner Shooting Sports coach. “We are overwhelmed by this generosity.”

Endowments are generated through the support of Midway USA Foundation and local fundraisers hosted by Rocky Mountain Elk Foundation. Each year, RMEF staff and volunteers nominated high school and university shooting teams as candidates for gifts, and this year Schreiner was the recipient of the grant money. (Source)

4) Schreiner University ranks No. 155 out of 925 universities with a financial GPA of 3.308 and financial grade of “B” in the Forbes magazine article “Is Your College Going Broke? The Most and Least Financially Fit Schools in America.”

The grades are a result of the analysis of balance sheets and operational strength of each college. The distribution of grades among institutions is: 128 universities earned an A; 253, B; 436, C; and 108, D.

President of Schreiner University, Dr. Tim Summerlin, is pleased with the financial health ranking of the institution, but does not plan to stop striving to improve Schreiner and its fiscal growth.

“I would fully expect that any measure of fiscal health would give Schreiner high marks. Since no enterprise can accomplish its mission without managing its affairs well, I am pleased by any analysis that recognizes that Schreiner University is well managed,” he said. “There is always room for improvement, and improvement is a continuing goal. For instance, we continue to expand sources of revenue to take pressure off of tuition. We have reduced the cost of our debt recently, giving us greater flexibility. We have found critical areas for cost reduction to allow us to direct our spending to our priorities—support for programs, personnel and scholarships. Strategically, the biggest thing we can do to improve our long-term financial strength will be to increase our endowment – something we are addressing with our comprehensive campaign.” (Source)

5) Schreiner University professor of English Dr. Kathleen Hudson has been chosen to be a member of the Humanities Texas Speakers Bureau.  She will be listed, along with others, as a resource for schools and organizations to call upon when they need a speaker.  “Sharing what I love with others is what I am passionate about,” Hudson said. “I am excited to have this opportunity.”

Hudson, the author of “Telling Stories, Writing Songs: An Album of Texas Song Writers” and the founder of the Texas Heritage Music Foundation, has taught at Schreiner for 21 years.

Humanities Texas, formerly the Texas Council for the Humanities, is the state partner of the National Endowment for the Humanities. Established by the Congress in 1965, the National Endowment for the Humanities (NEH) supports research, education, and public programs in the humanities. (Source)

About Richard C. Wilson