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Scripps College Endowment Fund

Name: Scripps College Investment Office

Assets Under Management: $441.1 Million (Source: Scripps College on 6/30/2013)

Annual Report: Scripps College Financial Report 2012-2013

Portfolio Insights: “Founded in 1926, Scripps College (the “College”) is an independent, liberal arts college for women with a distinctive interdisciplinary core curriculum offering instruction in the humanities, fine arts, and the natural and social sciences. The College had an enrollment of approximately 940 students. The campus is listed on the National Register of Historic Places.

Its mission is to educate women to develop their intellect and talents through active participation in a community of scholars, so that as graduates they may contribute to society through public and private lives of leadership, service, integrity and creativity.” (Source)

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Top Scripps College Endowment Fund Headlines:

1) The Investment Office serves as staff support to the Investment Committee of the Board of Trustees, providing coordination between the Investment Committee, the administration, investment managers, and the external auditors with regard to the investment of the College’s endowment funds. The office participates in the formulation of investment strategy and policies, monitors, reviews, and analyzes the College’s investment program, and provides analytical portfolio and performance measurement to the Board. The office reviews and maintains all control and accounting for these assets and their integration into the College’s reporting and accounting requirements. (Source)

2) Scripps College received a $5 million gift to establish a LASPA Center for Leadership on Monday. Lori Bettison-Varga, Scripps College president, announced the gift Monday in a news release after Eileen Schock Laspa and Jude Laspa made the keystone gift.

“The Laspas have lived a life marked by leadership and service in the public and private sectors,” Bettison-Varga said in a statement. “Their remarkable legacy of service will carry forward with the work of the Center. Their transformative gift will impact the College and its students for generations to come. We are thankful for this wonderful gift.”

The center, which will have a nationwide search for a direction soon, will incorporate programming that focuses on 21st century leadership that includes public service, action, analysis, scholarship and leadership. (Source)

3) Scripps College has a formal sustainability policy and has incorporated sustainability into the campus master plan. Two committees oversee environmental initiatives, including Scripps Green, which recently implemented a pilot composting initiative and bicycle program. The grounds director champions campus sustainability efforts and chairs the Scripps Green Committee. A purchasing policy mandates the procurement of green cleaning products, and the college purchases only Energy Star-qualified refrigerators and stoves. (Source)

4) Scripps College has launched a $41.4-million campaign to raise funds to finance student aid programs, faculty salaries and endowments and to renovate and construct buildings.

Board Chairman Sidney J. Weinberg said approximately $13 million would be set aside for faculty salaries and an equal amount for erecting new buildings and renovating older structures, some of which date to the founding of Scripps in 1926.

Scripps is one of the oldest of the Claremont Colleges and one of two nondenominational women’s colleges in California. (Source)

5) Scripps College provides reasonable moving assistance for new faculty and certain exempt staff hires. “Moving” is defined as the transport of a new employee and her/his household expenses and personal effects from their point of origin to a place of residence in Southern California. (Source)

About Richard C. Wilson