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SUNY, Stony Brook Foundation Endowment Fund

Name: SUNY, Stony Brook Foundation

Assets Under Management: $1.92 Billion (Source: Stony Brook Foundation on 3/7/2014)

Annual Report: Stony Brook University Annual Financial Report | 2012–2013

Portfolio Insights: Stony Brook University, one of 64 campuses that constitute the State University of New York, was established in 1957 as a college for the preparation of secondary school teachers of mathematics and science. From its beginnings a half-century ago, Stony Brook University has been characterized by innovation, energy and progress, transforming the lives of people who earn degrees, work and make groundbreaking discoveries here. The 2009 through 2013 appropriation trends have experienced a state tax support decrease of $44 million, or -23%, while campus revenues have increased by $52 million, or 49%. In addition to State Appropriations, the University receives appropriations earmarked for specific programs. As documented in the graph data display, overall University-wide appropriations from 2009 through 2013 have been fairly consistent by program from year to year. (Source)

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Top SUNY, Stony Brook Foundation Endowment Fund Headlines:

1) Additional funds raised by the Stony Brook Foundation for endowed faculty, innovative technology, and basic and translational research have enabled the University to achieve a critical margin of excellence and a US News and World Report ranking among the top 35 public research universities in the country.

The Foundation demonstrates careful fiduciary stewardship of all private funds, pursuing a conservative investment strategy to safeguard the endowment’s principal in order to provide steady funding for the initiatives to which donors have designated their support. Even with this relatively conservative investment strategy when compared with the 800 higher education endowments and foundations surveyed by NACUBO, in fiscal year 2013 the Stony Brook Foundation’s endowment yielded returns of 10.3%. (Source)

2) Stony Brook Athletics announced and recognized its 2013-14 Endowed Scholarship donors and recipients during halftime of the men’s basketball team’s game vs. Hartford at Pritchard Gymnasium last Saturday.

Sixteen Stony Brook student-athletes were named scholarship recipients, and many of them were able to attend the event, meet their donors and engage with them during the game.

Endowments provide a permanent source of income whose invested interest is used to fund and support the mission of Stony Brook University Department of Athletics. Donors who provide a gift to fund an endowment become permanently linked with the Stony Brook Intercollegiate Athletic program and help support multiple generations of student-athletes. (Source)

3) The Stony Brook Foundation had estimated it would take three to five years to raise donations needed to match the Simon’s challenge. The goal was met and surpassed within a 12 month period, according to Stony Brook University President Samuel L. Stanley Jr., MD.

“We are honored and overwhelmed by the response to the Simons Foundation challenge from friends, faculty and staff, and alumni,” said Stony Brook University President Samuel L. Stanley Jr., MD. “Their generous investments in Stony Brook are a tangible expression of their commitment to public higher education and the important work we do here at Stony Brook.

“And, of course,” added Stanley, “ it’s the kind of historic outpouring that could only be inspired by Jim and Marilyn, who have dedicated so much to philanthropy, especially that which furthers the boundaries of knowledge and science.” (Source)

4) James H. Simons usually shuns publicity, though some attention is inescapable for a hedge fund billionaire and major philanthropist. But on occasion, he allows one cause to draw him into public view: Stony Brook University, where he was a mathematics professor long ago.

He joined two governors, David A. Paterson and Andrew M. Cuomo, in pressing the Legislature to shore up the finances of the State University of New York, the parent system of Stony Brook, in part by raising tuition. He made it clear that he could be very generous if the state acted, and this year lawmakers made the kinds of changes he sought.

On Wednesday, Mr. Simons, 73, and his wife, Marilyn, will announce the biggest gift by far in SUNY’s history, $150 million to Stony Brook. It is the sixth largest donation ever made to an American public university, according to The Chronicle of Higher Education, and is twice as large as the previous record for a gift to a public university in New York — the $60 million that the Simonses’ foundation gave to Stony Brook in 2008. (Source)

5) Erin Abouzaid was named chief investment officer of the Stony Brook Foundation, a nonprofit corporation that administers Stony Brook University’s college funds. Abouzaid previously served as vice president in the portfolio and risk management group for State Street Associates in Cambridge, Mass. (Source)

About Richard C. Wilson