Name: Whitworth Universit
Assets Under Management: $276.7 Million (Source: Whitworth University on 6/30/2013)
Portfolio Insights: “Whitworth University, a higher education institution founded in 1890, was incorporated in 1972 as a tax-exempt charitable organization under Section 501 (c)(3) of the Internal Revenue Code and is located in Spokane, Washington.
The University’s endowment consists of approximately 260 individual funds established for a variety of purposes. Its endowment includes both donor-restricted endowment funds and funds designated by the governing board to function as endowments. As required by GAAP, net assets associated with endowment funds, including funds designated by the governing board to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions.” (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 Whitworth University Endowment Fund Headlines:
1) Whitworth University’s Board of Trustees oversees the endowment resources that you have entrusted to us. In accepting your gift of an endowed fund, the university has assumed responsibility for ensuring that your endowed fund, to be held in perpetuity, will provide for the purpose you have specified. Endowed funds are actively managed and invested in a diversified portfolio as part of the university’s overall endowment. The university uses endowment income at a spending rate that is applied to the 3-year average balance of your endowed fund and is limited to available investment return. Unused spending allocations, or investment return in excess of the spending rate, are reinvested in the endowment to ensure the value of your fund will continue to provide meaningful support in the future. (Source)
2) Whitworth University has been awarded a $1 million grant from the Lilly Endowment to fund a new comprehensive church engagement initiative called The Ekklesia Project to connect Whitworth to needs of congregations and Christian organizations throughout the western United States.
A new Office for Church Engagement will administer the project, and Terry McGonigal, dean of spiritual life, will be the first director. A search for a new dean of spiritual life begins in January.
The Ekklesia Project’s goal is to develop Whitworth’s ability to be a catalyst, center and resource for conversation, vision-casting, planning and programming, Terry said, to help churches and other organizations discern how to do ministry in the 21st-century and the region’s cultural setting. (Source)
3) A student investment club formed at Whitworth University north of Spokane in April 2012 got its feet wet during the last school year and will become more fully immersed in the world of stock trading when the new academic year begins this fall.
The club, formally named the Whitworth Student Investment Group (WSIG), isn’t making theoretical stock picks with imaginary money. Rather, it’s seeking to earn healthy returns on $100,000 in endowment funds that the university’s board of trustees agreed to provide after students formulated a proposal for the investment group and presented it to the board. All investment returns will flow back into the Whitworth endowment. (Source)
4) A $3 million anonymous donation to Whitworth University will fund a new faculty position focused solely on preparing teachers for talented and gifted education, school officials said Tuesday.
“The landmark gift recognizes Whitworth’s commitment to preparing teachers who pursue a vocation in serving gifted and talented students and will support the university’s Center for Gifted Education and Professional Development, which is the only one of its kind in Washington state,” said Emily Proffitt, a university spokeswoman.
The new chair position will be named for Margo Long, a retired associate professor who founded and directed the Center for Gifted Education and Professional Development, officials said. This is Whitworth’s fourth faculty position funded through an endowment. (Source)
5) Beck A. Taylor, Ph.D., became the 18th president of Whitworth University (Spokane, Wash.) in July 2010. He came to Whitworth after serving as dean and professor of economics for the Brock School of Business at Samford University (Birmingham, Ala.) and as associate dean for research and faculty development for the Hankamer School of Business at Baylor University (Waco, Texas), where he was also the W.H. Smith Professor of Economics. In his first year as Whitworth’s president, Taylor led the development of Whitworth’s 10-year vision and strategic plan, Whitworth 2021: Courage at the Crossroads, which details plans to continue to elevate Whitworth among the leading Christian universities in the country. Taylor’s first three years at Whitworth have been highlighted by a renewed emphasis on community involvement; efforts to improve academic quality, including the creation of the College of Arts & Sciences and a new honors program; the building of new campus infrastructure to facilitate the university’s student life programs; the creation of three new endowed faculty positions; and an emphasis on overall institutional effectiveness. (Source)