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University of Toledo & Foundation Endowment Fund

Name: University of Toledo and Foundation

Assets Under Management: $284.2 Million (Source: University of Toledo & Foundation on 6/30/2014)

Annual Report: The University of Toledo & Foundation Consolidated Financial Statements Fiscal Years ending June 30, 2014 and 2013

Portfolio Insights: “The University of Toledo Foundation (Foundation) is a not-for-profit Ohio corporation organized to receive, hold, invest and administer property and to make expenditures to or for the benefit of The University of Toledo (University).

The consolidated financial statements for the Foundation include accounts of wholly owned subsidiaries, the University of Toledo Foundation Real Estate Corporation and the UTF Gateway Investments LLC. The University of Toledo Foundation Real Estate Corporation (the Corporation) was organized to acquire, hold title to, and collect income from real property for the benefit of the Foundation and the University. UTF Gateway Investments LLC, (Gateway Investments) was organized for the construction and leasing of real property to house The University of Toledo Gateway (The Gateway), a mixed-use facility to include the University bookstore, retail space, and student off-campus housing.” (Source)

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Top University of Toledo & Foundation Endowment Fund Headlines:

1) The University of Toledo Foundation manages endowment funds placed in its care. Accounts for the endowment fund are invested, allowing the income and principal to grow over time. All new endowment funds require a formal written agreement between the donor and The University of Toledo Foundation. A formal fund agreement will be prepared for the signature of the donor or donor representative and The University of Toledo Foundation. All fund agreements are to be reviewed and signed by the appropriate gift officer and the Vice President for Institutional Advancement (in consultation with legal counsel, if necessary) to assure the Foundation that the University can abide by the terms of the agreement. (Source)

2) The mission of the University of Toledo Foundation is to receive and administer private gifts for the benefit of The University of Toledo; to provide effective investment management and fund stewardship; and to nurture increased credibility and donor support through active advocacy to help the University achieve its goals. In 2012, the University of Toledo Foundation invested $14.5 million, or 9%, of its $161.5 billion total pooled investments in hedge funds. (Source)

3) The University of Toledo Foundation is the University’s official philanthropic organization. Its mission is “To secure the future for the University of Toledo, through prudent asset management and philanthropy. We build strong linkages between alumni and the University fostering a spirit of loyalty and opportunity for engagement.” A capital campaign with the theme “The Time is Now” was recently completed and raised more than $106 million. A new, more ambitious national campaign, “a University Rising,” is under way with a goal of raising $200 million. It has three overarching goals academic impact, learning environments, and multidisciplinary projects. (Source)

4) Apr 14, 2014 – The University of Toledo Foundation seeks a Real Estate Director. UTF’s mission is to provide effective investment management and fund stewardship and to nurture increased credibility and donor support through active advocacy to help the University achieve its goals.

The Real Estate Director serves as the primary contact and is responsible for the ongoing development and asset management of the buildings as well as providing real estate acquisition, development and asset management services and facilities that foster economic development. The Real Estate Director will bring collaborative abilities, political savvy, strategic thinking, and real estate development skills. (Source)

5) In 2008, the University of Toledo Foundation invested $3 million in Xunlight. It ultimately had to forgive $1 million of Xunlight’s debt and received an ownership stake in one of the company’s manufacturing lines instead.

In addition, the Toledo-Lucas Port Authority loaned Xunlight $3 million in 2009. That money was drawn from the Authority’s Northwest Ohio Bond Fund. Xunlight also accepted a $3 million grant from the National Institute of Standards and Technology, a $4 million loan from the State of Ohio, and some $2 million in state and local tax credits. (Source)

About Richard C. Wilson