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St. Olaf College Endowment Fund

Name: St. Olaf College

Assets Under Management: $435.9 Million (Source: St. Olaf College on 5/31/2014)

Annual Report: St. Olaf College Audit Report on Financial Statements and Federal Awards As of and for the Year Ended May 31,2014

Portfolio Insights: “Founded in 1874, St. Olaf College (the “College”) is a private, four year, residential, liberal arts college located in Northfield, Minnesota. Affiliated with the Evangelical Lutheran Church in America, the College is coeducational and enrolls approximately 3,000 students. The College confers the degrees of Bachelor of Arts and Bachelor of Music.

For the purposes of financial reporting, the College classifies resources into three net asset categories pursuant to any donor-imposed restrictions and applicable law.” (Source)

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Top St. Olaf College Endowment Fund Headlines:

1) The endowments will benefit students at College of the Ozarks, Drury University and Ozarks Technical Community College.  The Missouri Department of Conservation also will receive funds plus 362 acres of property in Taney County from Lewis’ estate. (Source)

2) College of the Ozarks, a small private college near Branson, announced the new policy, with the justification that it was aiming to look after its students’ postgraduate debts. Already, the amount of student debt owed by Americans has topped $1 trillion nationwide, with the average debt of a graduate of a four-year college $22,656. Rising as well is the rate at which debt-holders are defaulting on their loans.

The college is nontraditional, not only in its evangelical focus but also in its approach to student fees. Students don’t pay tuition; rather, they work on campus, in the cafeteria or in the residential buildings or doing landscaping or agricultural jobs; or they work in Branson, which is a busy vacation destination that is home to many popular attractions, including live shows performed by famous country and western acts and its newest attraction, a Titanic museum. (Source)

3) Jerry C. Davis, president of the College of the Ozarks, told The Daily Caller News Foundation that his school should be regarded as a religious employer.

“To give you a little background, here’s a college that’s been a pervasively religious school for over 100 years, and for the last 40, we’ve been looking to [our] exemption that originated in the 1964 Civil Rights Act,” Davis declared. “Now, all of a sudden, somebody’s dreamed up a new definition of what’s a religious employer, and our understanding is we don’t qualify.” (Source)

4) Mar 8, 2012 – College of the Ozarks President Jerry C. Davis was named President of the American Association of Presidents of Independent Colleges and Universities (AAPICU) during the Association’s annual meeting held February 23-25, 2012. Dr. Davis has served in the college presidency for over three decades, among the longest tenures in the United States, and continues to serve as President of College of the Ozarks in Point Lookout, Missouri.

Called “Hard Work U.” by The Wall Street Journal, College of the Ozarks is a four-year college where all students earn their education by working, rather than paying tuition. Each student works 15 hours each week and two 40-hour work weeks at an on-campus job. College of the Ozarks has become a thriving, four-year, nationally recognized institution committed to a five-fold mission of encouraging academic, Christian, cultural, vocational, and patriotic growth in its students. (Source)

5) College of the Ozarks President Jerry C. Davis presented the award to Dr. Head.  During the presentation, he quoted what one community associate said about her, “She has an amazing ability to bring people together for the right reason.”

Dr. Head is heavily involved in Loaves and Fishes, a program that provides hot meals to the area’s underprivileged during the winter months, Faith Community Health Center, committed to providing Stone and Taney Counties’ working uninsured with quality, affordable healthcare, and Ozark Mountain Legacy Builders, which promotes biblical principles and five core values: family, faith, flag, friend, and future in the Ozarks area.  She also has served as a moving force behind the S. Truett Cathy Poverty Summit, First! PLACE Character Initiative, and the creation of the School of the Ozarks, the new lab high school operated by College of the Ozarks. (Source)

About Richard C. Wilson