Name: The New School’s Treasury and Risk Management
Assets Under Management: $958 Million (Source: The New School on 6/30/2013)
Portfolio Insights: “The New School was founded in 1919 by a group of scholars, journalists, and civic leaders who imagined an educational venue where they could freely discuss their ideas, and where dialogue could take place between intellectuals and the public.
The University’s financial statements are prepared on the accrual basis of accounting in accordance with standards established by the Financial Accounting Standards Board (FASB) for external financial reporting by not-for-profit organizations.” (Source)
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Top The New School Endowment Fund Headlines:
1) Linda Hird, Director of Investment, Treasury Operations & Risk Management
The Office of Investment, Treasury Operations & Risk Management manages the university’s treasury and cash management needs including banking relations and daily funding requirements. The Office manages the university’s invested assets, the largest pool of which is the endowment. No funds are managed internally; fiduciary oversight for the endowment, asset allocation, and selection of investment managers resides with the Investment Committee of the Board of Trustees. The Office adds value through analysis and reporting; the performance of due diligence; execution of transactions; and research. The Office ensures compliance with governance and investment processes. (Source)
2) Natalie Pressey, Assistant Vice President and Controller
The Controller’s Office accounts for, reports on, and safeguards the financial resources of The New School in support of its mission. We seek to provide accurate, consistent, efficient, relevant, and timely financial services, in a courteous manner, to all of our constituents. The Controller’s Office strives to provide high-quality financial documentation, consultation, and support through the adherence to policies and procedures, technical innovation and team collaboration.
We are responsible for the development and implementation of financial policies, procedures, and controls; management and maintenance of financial systems; management of the accounting and disbursements functions; and financial reporting. Our responsibilities include the preparation and publication of the university’s financial statements, government and foundation grant accounting and reporting, fixed asset accounting, and endowment/investment accounting and reporting. The Controller’s Office coordinates the university’s annual independent audit and prepares a variety of published financial reports. (Source)
3) The New School prepares students to understand, contribute to, and succeed in a rapidly changing society, and thus make the world a better and more just place. We will ensure that our students develop both the skills a sound liberal arts education provides, and the competencies essential for success and leadership in the emerging creative economy. We will also lead in generating practical and theoretical knowledge that enables people to better understand our world and improve conditions for local and global communities. (Source)
4) The New School was founded in 1919 as a center for discussion and instruction for mature men and women, and became America’s first university for adults. Over the years, it has grown into a major urban university made up of eight schools. The university currently enrolls more than 9,400 degree students and 13,000 continuing education students annually. Their diversity of ages, aspirations, and social backgrounds enriches the institution with a wide variety of cultures, perspectives, priorities, interests, and talents.
The New School for General Studies, the founding division of the university, has never neglected its original mission. It continues to serve the intellectual, cultural, artistic, and professional needs and interests of adult students. (Source)
5) Philanthropist Eugene M. Lang, whose generous support enabled the founding of Eugene Lang College The New School for Liberal Arts, has pledged a new gift of $5 million to his namesake school. The gift was announced at a recent event for Project Pericles, another of Mr. Lang’s philanthropic endeavors, which held its annual conference at The New School. In a letter to the community announcing the gift, President David Van Zandt noted it was awarded in honor of Dean Stephanie Browner’s leadership and her vision for the college.,
Mr. Lang has a long history of philanthropic support, which has transformed the lives of students across the country. In 1985, his generous gift transformed a small undergraduate program known for its seminar-style teaching into a distinct liberal arts college within The New School. Throughout its history, Eugene Lang College has embodied the values of its namesake: a deep-rooted commitment to academic excellence and to linking liberal arts with civic engagement. Today, the school is cited as the best college in the country for encouraging debate and discussion. (Source)