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University of Puget Sound Endowment Fund

Name: University of Puget Sound Office of Finance

Assets Under Management: $604.2 Million (Source: University of Puget Sound on 6/30/2014)

Annual Report: University of Puget Sound 2013–14 Financial Report

Portfolio Insights: “University of Puget Sound is an independent, predominantly residential, undergraduate liberal arts college with selected graduate programs building effectively on a liberal arts foundation. The university, as a community of learning, maintains a strong commitment to teaching excellence, scholarly engagement, and fruitful student-faculty interaction.

The mission of the university is to develop in its students capacities for critical analysis, aesthetic appreciation, sound judgment, and apt expression that will sustain a lifetime of intellectual curiosity, active inquiry, and reasoned independence.” (Source)

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Top University of Puget Sound Endowment Fund Headlines:

1) The University of Puget Sound is a nationally ranked, liberal arts and sciences college. Virtually every aspect of the University benefits in some way from endowed funds. Endowment income provides vital support for scholarships, faculty, academic programmes, and other campus activities. Puget Sound’s Endowment was created by donors who have stipulated that their gifts be invested in perpetuity to provide investment earnings that help fund the costs of fulfilling the University’s mission. Individual endowed funds may carry and honour the name of the donor or others designated by the donor, or new gifts may be added to general endowments already established. (Source)

2) The University of Puget Sound’s Sustainability Advisory Committee promotes environmental stewardship on campus and has completed a climate action plan. The university has a formal sustainability plan and green purchasing policy. Each semester, a sustainability grant fund program offers funds to any member of the school community whose project ideas have the potential to provide institutionalized sustainability benefits. (Source)

3) The University of Puget Sound (UPS) was founded by the Methodist Episcopal Church in 1888 in downtown Tacoma, Wash. Charles Henry Fowler, who had previously been the president of Northwestern University, dreamed up the idea for the college while in Tacoma for a Methodist conference.

Two cities vied for the location of the school: Port Townsend and Tacoma. The committee eventually decided on Tacoma. A charter was drawn up and filed in Olympia on March 17, 1888. This date marks the legal beginning of the school. At that time, the school’s legal title was “The Puget Sound University.” In September 1890, UPS opened its doors, taking in 88 students.

The beginnings of the school were marked by moral conviction: students were warned against intoxicating liquors, visits to saloons, gambling, tobacco use, and obscene drawings or writings on the college grounds. The university also had a financially tumultuous beginning. There was no endowment, and the school often struggled for funds to pay the professors. It moved locations three times in 13 years and, at one time, the school merged with Portland University (former campus is now the University of Portland). It opened a year later (1899) back in Tacoma at 9th and G streets. In 1903, the school was “reborn” and re-incorporated as a different entity with different trustees and a different name: the “University of Puget Sound.” (Source)

4) “University of Puget Sound is deeply invested in the privilege and responsibility of being an intellectual and civic asset in Tacoma for more than 125 years,” Thomas said. “But sometimes a college like ours can feel out of reach to our own neighbors. That’s why we are very pleased to be able to provide this commitment to students who graduate from Tacoma Public Schools, deepening our partnership with TPS and building on our other local initiatives—from college readiness programs and tutoring, to civic scholarship and research, to arts and lectures programming. College is an investment—it’s the investment of and for a lifetime—and we are devoted to this opportunity to invest in students in this city.” (Source)

5) Feb 20, 1998 – University of Puget Sound, Tacoma, Wash., will commit $2 million of its endowment fund to the Kelso Investment Associates Fund VI, a leveraged buyout fund. The money will come from the $148 million fund’s cash reserves. Frank Russell assisted.

Miami Systems Corp., Cincinnati, hired Fifth Third Bank as a provider for its 401(k) plan. The bank will be both investment adviser and administrator, said Samuel L. Peters, president of Miami Systems. The plan has 1,400 participants. (Source)

About Richard C. Wilson