Name: University of Redlands
Assets Under Management: $302.8 Billion (Source: University of Redlands on 6/30/2012)
Annual Report: University of Redlands Financial Report June 30, 2012
Portfolio Insights: “University of Redlands (the “University”) is a nonprofit organization established to provide undergraduate and graduate educational services. The main campus is located in Redlands, California, with off-site courses offered at several locations in southern California.
The University’s endowment fund consists of various donor restricted endowment funds and life income funds and funds designated as quasi-endowment, by the Board of Trustees. The University has interpreted the Uniform Prudent Management of Institutional Funds Act (UPMIFA) adopted by the 2008 California legislature as requiring the preservation of the fair value of the original gift, as of the gift date, of the donor-restricted endowment funds absent explicit donor stipulations to the contrary.” (Source)
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Top University of Redlands Endowment Fund Headlines:
1) The University of Redlands’ endowment is a perpetual fund created by gifts from donors. The fund principal remains intact and is invested, while yield is available to support programs such as student scholarships, faculty chairs, professorships, research or programs, building maintenance or library acquisitions. Donors also may designate endowment gifts that allow the university to use the available income where it is most needed.
How does endowment differ from annual giving? Funds received from annual giving are usually expended in the year in which they are received in support of the university’s various programs. Gifts to endowment are not expended. Instead, they are invested, and a portion of the yield is spent each year. Annual gifts to Redlands must be repeated on a yearly basis to provide continuing support for academic programs. Gifts to endowment provide support in perpetuity. (Source)
2) The University of Redlands is giving $56,500 to the city.
The donation aims to support the university’s goals of benefiting education, cultural, social and economic interest in the community, according to a letter dated Jan. 30 from University of Redlands President Ralph Kuncl.
“The university’s relationship with the city of Redlands is deeply important and highly valued,” wrote Kuncl in the letter addressed to Mayor Paul Foster. “My hope is that we will continue to build upon our wonderful partnership as we seek new ways to enhance the quality of life for both our students and the community, now and into the future.”
The university has donated about $886,500 to the city over the past several years. (Source)
3) University of Redlands was featured in a front-page profile of two very generous alumni, Rich and Ginnie Hunsaker. Their love for their alma mater inspired them to donate $35 million to create a new scholarship for the university. (Source)
4) The University of Rochester’s provost is leaving to become president of the University of Redlands in California, UR officials announced.
Ralph Kuncl, who for the past five years has served as provost and executive vice president at UR, is to leave Aug. 15. The university will release a statement on his successor within the next few weeks, said Joel Seligman, UR president.
As provost, Kuncl led or directed initiatives in high-performance computing, corporate research collaborations, multidisciplinary initiatives, diversity and online education, UR officials said. He also was responsible for review of university deans, the university library, faculty promotion and tenure decisions, sustainability and faculty-driven learning assessment initiatives. (Source)
5) Redlands, Calif., October 05, 2013 – The University of Redlands School of Business and the Coachella Valley Economic Partnership (CVEP) have been awarded a $200,000 federal grant as part of a national $7 million investment from the U.S. Department of Commerce and Agriculture, the Environmental Protection Agency and Small Business Administration. The University of Redlands School of Business is a co-applicant on this grant for the amount of approximately $85,000.
“We’re thrilled to receive this federal grant and look forward to working with our colleagues at the Coachella Valley Economic Partnership. This grant will allow our faculty to provide cutting edge spatially-based analysis and develop strategic plans that will help revitalize the economy of our neighbors in the Coachella Valley,” said Stuart Noble-Goodman, dean of the School of Business at the University of Redlands. (Source)