Name: Troy University Foundation
Assets Under Management: $70.7 Million (Source: Troy University Foundation on 9/30/2007)
Portfolio Insights: “The Troy University Foundation (the FOlmdation) was incorporated as all Alaballla nonprofit corporation on July 16, 1968, for the purpose of promoting broader educational opportunities for, and services to, the students and alUlllili of Troy University. The Foundation is exempt from income taxes under Section 50l(c)(3) ofthe Internal Revenue Code and similar provisions of Alabmna law.
The Foundation carries investments in marketable equity securities with readily detenninable fair values and all investments in debt securities at their fair values in the statements of financial position. Real estate investments which were received by gift are carried at fair value (at the date of the gift). Realized and unrealized gains and losses are included in the change in net assets in the accompanying statements of activities.” (Source)
Our team, the Endowment Fund Association (EFA) and Endowments.com is the #1 community and most visited website dedicated to endowment fund professionals. We provide endowment funds with buy-side co-investment and direct investment deal origination services, outsourced chief investment officer selection help, and also provide Endowment 500 research and Endowment Database Solutions.
Top Troy University Foundation Endowment Fund Headlines:
1) Troy University Foundation reported $114 million in assets as of year-end, making it one of the larger nonprofits. The reported income for Troy University Foundation was $13.1 million, which makes it one of the highest income nonprofits. (Source)
2) At June 30, 2010, Troy University’s Foundation held approximately $43.1 million of assets with $18 million reserved in short-term investments and the remainder in a traditional short-term endowment portfolio consisting of 60% equity and 40% fixed income, invested in various Vanguard index funds. At June 30, 2010, the University had a healthy endowment investment return of 13.2% for the trailing 12 months. (Source)
3) Troy University trustee Milton McGregor presented a $1 million check to Chancellor Jack Hawkins Jr. as the initial gift toward a new multipurpose arena to be built on the Troy campus. The check presentation was made at Milton and Pat McGregor’s Montgomery home with members of the Troy University Board of Trustees, the Troy University Foundation board of directors and invited guests in attendance. McGregor is president and chief executive officer of VictoryLand in Shorter. “We appreciate Milton and Pat McGregor’s willingness to invest in the future of Troy University,” (Source)
4) Troy University will celebrate the delivery of the largest current collection of new Steinway pianos in the state on Monday, culminating its initiative to become an All-Steinway School. The delivery will bring the John M. Long School of Music’s inventory to 29 Steinway pianos, including the first two Sterling Steinways ever produced.
Troy University began the All-Steinway initiative in fall 2013, with a formal announcement of the effort taking place last March. All-Steinway Schools are institutions that have only Steinways or Steinway-designed pianos such as Boston or Essex in their inventory. Troy University is the first Steinway University in the state of Alabama and the 17th in the world to feature only Steinway pianos.
Dr. Jack Hawkins, Jr., Chancellor of Troy University, Dr. Larry Blocher, Dr. Jean Laliberte, Dr. Don Jeffrey, Walter Givhan, Dr. Earl Ingram, Dr. Jim Bookout and Dr. Hui-Ting Yang have been the driving force behind this accomplishment.
Trucks delivering the pianos are set to arrive on Monday, and the University will officially recognize the All-Steinway moniker with a special, by-invitation event on Tuesday night, featuring all of the pianos together in the band rehearsal site at John M. Long Hall. The delivery of the new Steinways will mean that every performance venue, rehearsal hall, teaching studio and practice room will have only Steinway pianos. (Source)
5) Dr. Jack Hawkins, Jr., a native of Mobile, Alabama, was named Chancellor of Troy University Sept. 1, 1989. He earned his bachelor’s and master’s degrees from the University of Montevallo and his doctorate from the University of Alabama.
Upon completion of his bachelor’s degree in 1967, Hawkins was commissioned a lieutenant in the U.S. Marine Corps and served as a platoon leader during the Vietnam War. For his combat duty, he received the Bronze Star, the Purple Heart and a citation from the Korean Marine Corps.
Hawkins has overseen an era of change and growth at TROY, as he led the merger of the worldwide Troy State University System into the unified Troy University, an initiative called “One Great University.” More than $250 million has been invested in capital improvements by the Hawkins Administration, including new academic buildings on all four of TROY’s Alabama campuses. Chancellor Hawkins served as the catalyst for the University’s evolution to an international institution, as TROY has attracted record numbers of students from other nations and established teaching sites around the world. During his tenure, academic standards for admission have been increased, new degree programs were established in all academic colleges, and intercollegiate athletics joined the highest level of NCAA competition. (Source)