Name: University of the Sciences in Philadelphia
Assets Under Management: $357.2 Million (Source: University of the Sciences in Philadelphia on 6/30/2013)
Portfolio Insights: “The University of the Sciences in Philadelphia (the University) is a nonprofit independent institution of higher education with a commitment to excellence in teaching, research, and service.
The mission of the University is to provide undergraduate, professional, and graduate education in the health professions and natural sciences. The University is committed to the principles of equal employment and equal access to education for all persons, regardless of gender, age, disability, race, creed, color, sexual orientation, or national origin.” (Source)
Our team, the Endowment Fund Association (EFA) and Endowments.com is the #1 community and most visited website dedicated to endowment fund professionals. We provide endowment funds with buy-side co-investment and direct investment deal origination services, outsourced chief investment officer selection help, and also provide Endowment 500 research and Endowment Database Solutions.
Top University of the Sciences in Philadelphia Endowment Fund Headlines:
1) Marvin Samson assumes the role of interim president following the departure of Dr. Helen Giles-Gee in December 2014. Samson has been a committed advocate of University of the Sciences since joining its board of trustees in 1991. He has served as chairman of USciences’ board of trustees since 2011 and was the University’s interim president for the 2011-12 academic year.
Samson is the founder and CEO of Samson Medical Technologies, LLC, a company specializing in injectable drug delivery systems and programs for hospital and alternate site pharmacists. A native of Philadelphia, Samson received his bachelor of science in chemistry from Temple University.
In 1967, Samson helped to found Elkins-Sinn, today, West-Ward Pharmaceuticals, and was its president and CEO for 18 years. Following that, he was the founder, president, and CEO of Marsam Pharmaceuticals; joined SICOR as president and CEO and following Sicor’s acquisition by Teva was Teva’s group VP of worldwide injectables; was board chairman and CEO of Qualitest Pharmaceuticals; and was board chairman of JHP Pharmaceuticals. (Source)
2) In the case of Martin v. Ohio State University Foundation (Ohio App., 10th App. Distr., 2000), the donors of a “net income with makeup” charitable remainder unitrust (NIMCRUT) sued their life insurance agent, the life insurance company and the charitable organization that also acted as their NIMCRUT’s trustee. An attorney and insurance agent proposed a plan to a couple that included the donation of $1.3 million of undeveloped farmland to a NIMCRUT. The donors would use income from the NIMCRUT to purchase a $1 million life insurance policy costing $40,000 per year for wealth replacement for the donors’ children.
The donors received several proposals over a few months. Each proposal showed the NIMCRUT paying the donors’ income immediately after the execution of the NIMCRUT. Because the donors’ annual income prior to the transaction was only $24,000, the donors were counting on the trust income to pay insurance premiums. (Source)
3) The fair value of investments is based upon quoted market values provided by external investment custodians, when available. The estimated fair value of certain alternative inv estments, such as hedge fund, private equity, real estate, and other investments, are based on the reported net asset value per share as a practical expedient as of June 30, 2013 and 2012. Because certain investments are not readily marketable, their estimated value is subject to uncertainty and therefore may differ from the value that would have been used had a ready market for such investments existed. (Source)
4) University of the Sciences president Dr. Helen F. Giles-Gee has announced the appointment of Dr. Heidi M. Anderson as provost and vice president for academic affairs. Dr. Anderson comes to USciences after 11 years at the University of Kentucky, most recently serving as vice president for institutional effectiveness. She will begin her USciences tenure on July 1, 2013.
“Dr. Heidi Anderson was selected from a national field of well-qualified candidates,” said Dr. Giles-Gee. “I and the University community were impressed with her well-documented academic acumen, her understanding of the dynamic future of science and healthcare education on a national level, and her collegial leadership style. We have no doubt that she will serve this University well as it addresses its expanded vision for the future.”
Dr. Anderson has over 20 years of experience in teaching, learning, assessment and faculty development. She is currently responsible for Kentucky’s accreditation process and institutional effectiveness which includes strategic planning and assessment. (Source)
5) University of the Sciences in Philadelphia is committed to excellence at all levels and strives to support the USciences community in practicing the highest standards of ethical conduct. To facilitate this, the university has selected EthicsPoint, Inc. to provide an on-line system to anonymously and confidentially report activities involving misconduct, violations of government regulations or university policies, or otherwise inappropriate, unethical or illegal activities involving the USciences community.
The university asks that reports are made in a good faith effort to address legitimate issues and concerns or to otherwise provide reliable information. This reporting service does not replace existing reporting methods already in place for reporting problems or concerns, and you are encouraged to continue to report these to your supervisor, Human Resources or other campus entities, as appropriate. The EthicsPoint reporting system simply provides an additional means of reporting such issues when the reporter wishes to remain anonymous. (Source)