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University of San Francisco Endowment Fund

Name: University of San Francisco Endowment and Investment Management

Assets Under Management: $904.4 Million (Source: University of San Francisco on 5/31/2014)

Annual Report: The University of San Francisco Statements of Financial Position May 31, 2014 and 2013

Portfolio Insights: “The University of San Francisco (the “University”) was founded by the Society of Jesus in 1855. The University is committed to the highest standards of learning and scholarship in the American, Catholic, and Jesuit traditions. The University balances its primary commitment to the liberal arts and sciences with its dedication to education for the professions.

Investments are stated at fair value and represent a diversified portfolio of equity and fixed‐income investments, private capital, real asset funds, hedge funds, life income, annuity and trust funds, and real estate. Investments received through gifts are recorded at fair value on the date of donation.” (Source)

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Top University of San Francisco Endowment Fund Headlines:

1) University of San Francisco is a private institution that was founded in 1855. It has a total undergraduate enrollment of 6,392, its setting is urban, and the campus size is 55 acres. It utilizes a 4-1-4-based academic calendar. University of San Francisco’s ranking in the 2015 edition of Best Colleges is National Universities, 106. Its tuition and fees are $41,450 (2014-15).

The University of San Francisco is a Jesuit institution in California’s Bay Area. The school tries to emphasize its Jesuit mission in every degree program offered. Students participate in service-learning courses, during which academic coursework is complemented by volunteer work around San Francisco. The university at large is committed to bettering the community, including through partnerships with local organizations and work through the school’s research centers and institutes. More than 90 percent of freshmen live in on-campus housing. (Source)

2) The Horatio Alger University of San Francisco Scholarship Program provides financial assistance to students who have exhibited integrity and perseverance in overcoming personal adversity and who aspire to pursue higher education. Students must pursue a bachelor’s degree program at the University of San Francisco. (Source)

3) The Office of Finance & Treasury is responsible for banking and cash management, endowment and investment management, financing and debt management, financial statement analysis, asset and liability valuations, capital budgeting and financial planning, the administration of the faculty mortgage program, and is the main point of contact for the University’s bankers, credit rating agencies, and investment managers. (Source)

4) The Office of Finance & Treasury is responsible for managing the capital structure of the University and providing cost effective solutions for the financing of capital projects on either a short-term or long-term basis. This may include the issuance of taxable and tax-exempt bonds, commercial paper, bank credit facilities, and working capital lines of credit. The Office is also responsible for the management of investment banking relationships and the relationship with credit rating agencies.

The University borrows periodically in the long-term, tax-exempt credit market by issuing bonds through the California Educational Facilities Authority (CEFA). It may also secure various lines of credit for short-term borrowing needs. Please refer to the footnotes in the The University of San Francisco audited financial statements for further details. All borrowings must be approved by the University’s Board of Trustees. The University has established a debt policy that governs the University’s financing transactions as well as its use of derivative products. The University maintains a credit rating with Moody’s Investors Service (Moody’s), which will be updated on a periodic basis. The most recent written confirmation of the University’s credit rating was issued in January 2011 in conjunction with the University’s Series 2011 Revenue Bonds that were issued through CEFA in February 2011. (Source)

5) Jan 10 , 2011 – Moody’s Investors Service has assigned an A3 rating to the University of San Francisco’s (“USF” or the “University) Series 2011 revenue bonds issued through the California Educational Facilities Authority (“CEFA”). The sale was originally scheduled for November 1, 2010 and is now expected to sell on January 24, 2011. At the same time, Moody’s has affirmed the A3 rating on the University’s outstanding Series 2005 A and 2006 bonds, which are expected to be refunded by the current offering. Following the refunding, the University will have $166.4 million of outstanding debt, $84.2 million of which is variable rate debt enhanced by letters of credit. (Source)

About Richard C. Wilson