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University of North Carolina Wilmington Endowment Fund

Name: University of North Carolina Wilmington

Assets Under Management: $706.5 Million (Source: University of North Carolina Wilmington on 6/30/2014)

Annual Report: University of North Carolina Wilmington, Wilmington, North Carolina, Financial Statement Audit Report For The Year Ended June 30, 2014

Portfolio Insights: “The University of North Carolina Wilmington (University) provides the following Management’s Discussion and Analysis (MD&A) as an overview of the financial activities for the fiscal year ended June 30, 2014.

The University’s endowment fund investment rate of return of 14.6% exceeded the fund’s primary return objective of 6.6% for the fiscal year ended June 30, 2014. The endowment has been successful in achieving its long-term objective with a ten year annualized return of 8.8% and an annualized return since inception of 7.8%.” (Source)

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Top University of North Carolina Wilmington Endowment Fund Headlines:

1) University of North Carolina, Wilmington, issued an RFI for investment consulting services for its $70 million UNC Endowment Fund and $2.5 million Foundation endowment.

The boards of trustees for both funds “are requesting information from independent investment management and consulting firms experienced in active portfolio management and serving a client base of higher education institutions and their foundations,” according to the RFI, which said the boards “are considering diversifying investment advisers and would like information on the spectrum of consulting services.”

The contract could include portfolio analysis, policy development, manager selection, portfolio construction, ongoing portfolio monitoring and performance reporting, according to the RFI. (Source)

2) Eliminate poverty through education. It’s a lofty goal, but that’s the intent of Wilmington residents Dave Robertson and Mark Griffis, who recently pledged to donate $1 million to fund 20 new, endowed scholarships at the University of North Carolina Wilmington. That means there’s a scholarship for every academic department. The donation was the largest cash pledge for scholarships made by a single donor in the university’s history, said Marla Rice-Evans, associate vice chancellor for university advancement. “It’s unusual for a school to have people that care at that level,” Rice-Evans said. The donation will be spread over seven years and will fund the scholarships at $50,000 apiece. The donation is turned over to the university’s endowment fund, which is invested. The interest generated from the endowment provides money for the scholarships. (Source)

3) The University of North Carolina Wilmington received a $2.5 million endowment gift from the family of Bill Dobo, Chancellor Gary Miller told trustees Friday. It was given by the family of Bill Dobo, a longtime UNCW supporter who died in June. These funds will go into the Dobo Endowment, which was created earlier with another $2.5 million gift from Bill Dobo and his wife, Barby.

The funds were given as an unrestricted gift, said Eddie Stuart, vice chancellor for university advancement, meaning that UNCW can use those funds as it sees fit. The endowment will generate about $250,000 a year, which will likely go toward scholarships, Stuart said.

The gift is one of the largest in UNCW’s history. University officials couldn’t say what UNCW’s largest gift was. In February 2011, the school received what it said was its largest outright gift, an endowment from the McNeill family that renamed the nursing building as McNeill Hall. But the university wouldn’t release the amount of that gift. The university’s total endowment is $76 million. (Source)

4) Denise A. Battles has been named the next provost and vice chancellor for academic affairs at the University of North Carolina Wilmington. Currently dean of the College of Natural and Health Sciences at the University of Northern Colorado, Battles will officially join the university July 16, replacing retiring provost Cathy Barlow.

“I could not be more pleased to welcome Dr. Battles to UNCW,” said Chancellor Gary L. Miller. “She has an excellent track record of strong leadership and effective management in higher education. Even more importantly, she is a creative problem solver who will bring new ideas and approaches to our campus, supporting our ongoing quest for innovation. ”

The provost and vice chancellor for academic affairs reports directly to the chancellor, oversees all academic units of the university and serves as chief operating officer. (Source)

5) The University of North Carolina Wilmington has received high honors for their community engagement.

University officials announced Wednesday morning that the university earned the 2015 Community Engagement Classification from the Carnegie Foundation for the Advancement of Teaching.

The prestigious honor is given to higher education institutions dedicated to community involvement. UNCW is one of 157 institutions nationwide that was reclassified this year.

Officials said the university first received the national honor in 2008.

“UNCW is dedicated to enriching the quality of life through purposeful community and economic engagement,” assistant to the Chancellor for Community Partnerships Jenni Harris said in a news release. “This reclassification is a true testament to the university’s commitment to strengthening ties to the Wilmington and regional community through research, partnerships, programs and volunteer efforts – all with a focus on making an impact.” (Source)

About Richard C. Wilson