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University of Alberta Endowment Fund

Name: University of Alberta Endowment Fund

Assets Under Management: $1 Billion (Source: University of Alberta on 9/18/2014)

Annual Report: University of Alberta’s Financial Statements, March 31, 2014

Portfolio Insights: “The financial statement discussion and analysis should be read in conjunction with the University of Alberta annual audited financial statements. The discussion and analysis and the audited financial statements are reviewed and approved by the University of Alberta Board of Governors on the recommendation of the University of Alberta Audit Committee. The university’s financial statements have been prepared in accordance with Canadian Public Sector Accounting Standards.

From total revenue of $1,764.5 million, the university ended the year with an excess of revenue over expense of $18.4 million. Net assets increased by $156.3 million with increases in endowments ($113.8), investment in tangible capital assets ($31.4) and unrealized investment gains ($24.1). The increase in investment in tangible capital assets was funded by the excess of revenue over expense and an increase to the accumulated deficit from operations of $13.0 million.” (Source)

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Top University of Alberta Endowment Fund Headlines:

1) For the first time, the University of Alberta’s endowment fund has surpassed $1 billion. With investment returns of 15.4 per cent over the past year and recent significant donations, the fund—which supports student scholarships and positions that attract top faculty—is a key part of the university’s long-term financial stability.

“The engagement, advocacy and generosity of our supporters will benefit generations to come, and I want to thank our donors for their contribution to our community,” said President Indira Samarasekera. “This is an important milestone towards our goal of a $1.5-billion endowment. This fund enhances our ability to attract and support talented faculty and students, and undertake cutting-edge research.”

The U of A has also raised more than $1 billion during Samarasekera’s term as president, highlighted by the $580 million raised in the 2008 centenary campaign, and a record year of more than $162 million in 2012. (Source)

2) The University of Alberta’s endowment fund has topped $1 billion for the first time in its history, the institution announced Thursday, following years of high fundraising. “This is an important milestone towards our goal of a $1.5 billion endowment. This fund enhances our ability to attract and support talented faculty and students, and undertake cutting-edge research,” ​university Indira Samarasekera wrote in a release. The university uses the interest gathered from the fund to pay for its operations. Samarasekera said donations increased around the university’s centenary, including a record-breaking $162 million in 2012. (Source)

3) In 2009, the University of Alberta saw an overall increase of 32 per cent in requests for bursaries and emergency funding — this trend is expected to continue. The APEGA Education Foundation (AEF) seeks to support those students who are working to complete their education in engineering and geoscience. It is listening to employers who are asking for more well-rounded individuals, those who have experienced university life by participating in extra-curricular activities, worked low-paying summer jobs doing research or had the opportunity to travel between terms. In order to gain these important life experiences, students require financial assistance. (Source)

4) The University of Alberta is committed to sustainability through a formal policy, and three administrative committees focus on institutional sustainability, along with a full-time director of the Office of Sustainability and eight other staff. An energy management fund provides loans for energy efficiency projects on campus. (Source)

5) The investment assets of the University of Alberta that are under the governance of the Investment Committee had a total market value of $1,648 million as of March 31, 2012 (2011 – $1,754 million). They are separated into Endowment Funds and Non-Endowed Funds.

The investment goal of the Endowed Funds is to preserve the value of the assets in real (adjusting for inflation) terms over time, and do so with an acceptable level of risk, in order to provide the same level of support to future generations as current beneficiaries receive. This implies that that the real, long term rate of return must equal or exceed the rate of spending. (Source)

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