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University of New Brunswick Endowment Fund

Name: University of New Brunswick

Assets Under Management: $657.6 Million (Source: University of New Brunswick on 4/30/2014)

Annual Report: The University of New Brunswick Consolidated Financial Statements 2014

Portfolio Insights: “The University of New Brunswick (the University) operates under the authority of the University of New Brunswick Act. It is a Board-governed, comprehensive university offering undergraduate and graduate degree programs, a broad range of research, and continuing education programs and activities. The University is a registered charity and is therefore exempt from the payment of income taxes under Section 149 o f the Income Tax Act.

The University defines its capital as the amounts included in unrestricted net assets, internally restricted net assets (Note 17), unfunded non-pension employee benefits (Note 16), endowed net assets (Note 19), long-term liabilities (Notes 11 and 12), and unexpended deferred contributions (Note 14). The University’s objective in managing its capital is to ensure that the University will continue as a going concern, maintaining and enhancing its ability to attract students and fulfill its mission.” (Source)

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Top University of New Brunswick Endowment Fund Headlines:

1) The University of New Brunswick (UNB) is among the oldest public universities in North America with its Fredericton campus established in 1785. It is the oldest English-language University in Canada.

UNB has more than 11,000 undergraduate and graduate students. It has more than 64,000 alumni around the world. UNB offers more than 75 undergraduate and graduate programs in 14 faculties. UNB’s faculty of law ranks among the top five in Canada. In fall 2010, UNB, in partnership with Dalhousie University and government of New Brunswick, became home to the province’s first English-language medical school. It employs more than 3,000 full and part-time staff, including faculty and support staff. UNB celebrated its 225th anniversary in F2011. According to the economic impact analysis conducted in F2010, UNB contributes $385m into the New Brunswick economy annually. (Source)

2) The University of New Brunswick addresses sustainability in its campus master plan, and the sustainability committee has addressed issues such as energy conservation, green building, and transportation. The university also employs a full-time campus sustainability officer. A green purchasing policy mandates the purchase of environmentally preferable paper, cleaning products, and lightbulbs. (Source)

3) The University of New Brunswick’s endowment fund is one of the largest in Canada
and the second largest in Atlantic Canada. University endowments play a tremendously important role in providing a measure of financial independence and in sustaining scholarships and bursaries, libraries, chairs and professorships, special lecture series and cultural events, and other activities critical to a rich educational experience. UNB’s endowment funds have come primarily from contributions and bequests from alumni and friends of the institution. (Source)

4) At UNB, our mission is to create the premier university environment for our students, faculty and staff in which to learn, work and live. We will provide an exceptional and transformative education for our students, by encouraging initiative and innovation, unlocking their creative potential. Our graduates will be prepared to make a significant difference – creating opportunities for themselves and for others. We commit to understanding and solving the problems of today and tomorrow, serving our community and engaging with our alumni, retirees and partners around the world. (Source)

5) A University of New Brunswick vice-president is defending a professor’s academic freedom in the wake of a recent complaint of racism. Kerry Jang, a Vancouver city councillor, had asked the university to investigate the allegedly racist views of Prof. Ricardo Duchesne, who argues that the influx of Asian immigrants is threatening Canada’s European character.

Jang contends the sociology professor’s comments constitute hate speech. “He was drawing comparisons to say Hong Kong and Japan, its teeming dirty cities and things like that — saying all Asians are dirty,” he said. (Source)

About Richard C. Wilson