Name: Seton Hall University
Assets Under Management: $227.2 Million (Source: Seton Hall University on 6/30/2012)
Portfolio Insights: “Seton Hall seeks to attract an academically gifted and economically diverse student body. The University makes its education as affordable and competitive as possible and is acutely aware that the financial aid award is often a major part of a student’s initial decision to attend Seton Hall as well as the decision to remain at Seton Hall. The University maintains an appropriate ratio of aid to revenue (tuition discount rate) when compared to competitive and peer instructions. The following table presents total financial aid expense for the past five fiscal years.” (Source)
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Top Seton Hall University Endowment Fund Headlines:
1) Seton Hall University is among 31 national colleges and universities awarded a $50,000 planning grant from Lilly Endowment Inc. of Indianapolis. Entitled “Called to Serve, Called to Lead,” the grant supports a University-wide planning process to develop programs and initiatives that will identify and nurture a new generation of highly talented, religiously committed leaders. Specifically, the programs to be planned under the grant will encourage members of the University community to view their career choices as a calling to serve others, as well as offer undergraduate and graduate students varied opportunities to consider whether they are called to church ministry.
Ultimately, the planning grant will enable Seton Hall University to create a detailed implementation proposal to be submitted to the Endowment in September 2002. The result could be additional support of up to $2 million to implement the proposed programs and initiatives. (Source)
2) Seton Hall University with a robust endowment fund, hundreds of millions of dollars in property and an enrollment of more than 9,000 students whose annual tuition and fees top $40,000, the university certainly presents an inviting potential revenue source for any property taxpayer looking to share the burden of austerity
But because of its status as both a religious and educational institution, Seton Hall is exempt from paying property taxes. And over the years it has been assertive in fending off requests from South Orange for more money: In 1916, the university went all the way to the U.S. Supreme Court in an unsuccessful attempt to preserve the tax exemption on a small parcel of off-campus property; and during the past decade has defeated proposals to impose a safety surcharge on students to cover the cost of South Orange’s police and fire protection. (Source)
3) Seton Hall University has successfully completed its $6 million Richie and Sue Regan Campaign for the University’s Athletics Department, raising $1 million more than its original goal of $5 million. (Source)
4) On January 11, 2011, the Board of Regents appointed Dr. A. Gabriel Esteban Seton Hall’s next president. Dr. Esteban served as interim president since Monsignor Robert Sheeran stepped down from the presidency on July 1, 2010.
“Dr. Esteban has distinguished himself as an academic leader and fiscal manager since joining Seton Hall in 2007 as its provost and then interim president,” said Patrick Murray, chairman of the Board of Regents. For the past six months he has begun to implement his strategic vision for the University. His commitment to academic excellence and the University’s Catholic mission along with his strong Catholic faith make him the ideal choice to lead our great institution into the future.” (Source)
5) Jan 21, 2015 – Seton Hall University announced last week that it was entering into an agreement with Hackensack University Health Network to form a new, four-year school of medicine. The school will be located at the former Hoffmann-La Roche Inc. (Roche) campus in Clifton and Nutley and should begin accepting students “within the next three years.”
Seton Hall officials said the deal followed on the denouement of a bid to obtain zoning variances for the former Marylawn of the Oranges site in South Orange. The university was seeking variances that would have allowed it to buy and convert the Marylawn of the Oranges Academy and the Graves House at Scotland Road and Montrose Avenue into academic and administrative buildings for a graduate school of medicine and construct a 202-space parking lot. (Source)