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University of Vermont & State Agricultural College Endowment Fund

Name: University of Vermont & State Agricultural College

Assets Under Management: $500.6 Million (Source: University of Vermont & State Agricultural College on 6/30/2013)

Annual Report: University of Vermont & State Agricultural College Year ended June 30, 2013

Portfolio Insights: “The State of Vermont (“the State”) general appropriations represented 7.1% of the University’s total revenues for fiscal year 2013. The University did not receive a State capital appropriation in fiscal year 2013 but receive d $1.8 million in fiscal year 2012, as it directed the State to use these funds for the Hurricane Irene disaster relief and repair efforts in place of the appropriation.

Grant and contract revenues of $189.1 million represented 30.8% of total revenues for fiscal 2013 which included facility and administrative cost recoveries of $24.9 million and additional commitment funds from Fletcher A llen Health Care, Inc. of $29.8 million. During fiscal 2013, the University was awarded over $106.1 million in sponsored funds, 74.2% of which were for research activities. Approximately 61.1% of sponsored funds awarded during fiscal 2013 were from federal sources. The University’s leading areas of externally sponsored programs are the biomedical sciences, agriculture, the environment, and education.” (Source)

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Top University of Vermont & State Agricultural College Endowment Fund Headlines:

1) University of Vermont, in full University of Vermont and State Agricultural College,  public, coeducational institution of higher learning in Burlington, Vt., U.S. It is a land-grant university composed of the Graduate College and colleges of agricultural and life sciences, arts and sciences, education and social services, engineering and mathematics, and medicine, as well as schools of allied health sciences, business administration, natural resources, and nursing. The Robert Hull Fleming Museum was designed by the architectural firm McKim, Mead, and White and built in 1931. Bailey/Howe Library, built in 1960, contains more than one million books. The university operates the Morgan Horse Farm, founded in Weybridge in 1878. Total enrollment exceeds 11,000 students. (Source)

2) The mission of the University of Vermont’s (UVM) Endowment Fund is to provide critical financial support for UVM on an annual basis. Gifts to the UVM Fund – regardless of size – are used to enhance the quality and rigor of academic programs, provide scholarships to students and attract world-class faculty members who teach and educate student scholars while conducting important research. (Source)

3) The University of Vermont became the thirty-fourth college in the nation this week to commit to the Sustainable Endowment Institute’s Billion Dollar Green Challenge, agreeing to establish a revolving fund to finance on-campus energy efficiency improvements. (Source)

4) The University of Vermont and State Agricultural College’s board of trustees has appointed two new hedge fund managers to diversify its endowment fund, HFMWeek reports. The board’s investment sub-committee will allocate $5 million each to Canyon Capital Advisors Balanced Fund and Owl Creek Asset Management.

The $288 million endowment’s equity portfolio will be reduced to fund the new mandates. The university’s investment consultant, Cambridge Associates, had recommended that the endowment’s board pursue a multi-strategy approach for the fund’s portfolio. (Source)

5) The University of Vermont is rare among public institutions in that some of its board members are already appointed outside the political process. Most public university boards are composed entirely of political appointments, with perhaps one or two seats reserved for the president and faculty and student representatives. According to a 2010 survey conducted by the Association of Governing Boards of Universities and Colleges, 80 percent of public university board members were appointed by elected officials, most often by a governor with legislative approval. Another 5 percent were elected directly by voters. (Source)

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