Despite this increase, exposure as a percent of the portfolio fell as managers holding of public equity declined and other parts of the portfolio outperformed energy. Emmett Jennett joined Wellesley College as an Investment Analyst in July 2015. While many previous student organizers had hoped that Wellesley College would be a leader among other universities and colleges in divesting from fossil fuels, as of Mar. Exposure to fossil fuel investments is expected to decline over the next several years as existing investments fully liquidate. Wellesley Racial/Ethnic Breakdown of Undergraduates 685 Third Avenue Board of Trustees to vote on divestment in late April. I'm applying there and rejection is always a thing. All material subject to strictly enforced copyright laws. Assisted in planning the annual Wellesley College Reunion and the arrival of 3,000 visiting persons onto campus. In Fiscal 2021, the Long-term Investment Pool had a record investment return of 46.5%. We're all Babson. Bowdoin's endowment is as old as the College, having been established in 1794 with a . For example, a donor my give the College a $1,000,000.00 with the intent that the income earned will go to support Financial Aid. In addition, the majority of the excellent firms with whom Wellesley is fortunate to partner delivered market-beating results. Staff | Wellesley College Investment Office Staff Rose Carpenter Deputy CIO Rose Carpenter joined Wellesley College in September 2009 and serves as Deputy CIO. Consideration of the endowments of the Seven Sisters' and the Ivy's recognized that while the endowments of the top men's schools together came to about $319,000,000, the Seven Sisters' endowments totaled only $36,000,000. In the early 2000s, as Williams' endowment rose above the $1 billion mark, we knew our increasingly complex portfolio and expanding group of outside investment managers would eventually require full-time professional oversight. [12] Repeal legislation with bipartisan cosponsorship was introduced, but not passed, by both the 115th United States Congress[13] and 116th United States Congress.[14]. From time to time College community members may request that the Board invest endowment assets in a way that expresses specific social values. Wellesley Collegehas an exchange program with Spelman College. The college was founded in 1911 as Pine Manor Junior College (PMJC) by Helen Temple Cooke, as part of the Dana Hall School in Wellesley, Massachusetts. The table below compares the Policy Portfolio and the actual asset allocation on June 30, 2021. $75,198 per year. Work at the Investment Office centers on selecting and monitoring investment . Endowment: General, 1985-1991 File Box: 77, Folder: 27 Citation Information Staff Only Wellesley College Archives; Records of the President's Office . The loss also represents the second-worst annual investment return Wellesley College has seen in the last 20 years. It was a women-only institution at a time when women were generally denied access to higher education. It. Mailing address:Wellesley CollegeController's Office106 Central St., GRH139Wellesley, MA 02481-8203, Higher Education Emergency Relief Fund (HEERF). You can see the balance in the gift in 'FIN Gift Spendable Balance. Suite 3200 It's a rewarding and invigorating workplace - an exciting launch pad for anyone who . Established in 1870 as a seminary for women, Wellesley College has grown to be one of the largest and most influential women's colleges in the world. Carver Charitable Trust. It's always an opportunity to develop your skills and to help somebody else achieve their entrepreneurial ambitions. Wellesley College's endowment return fell by roughly $291 million in the 2022 fiscal year, the first year of negative return since 2017. 130 E. Randolph St. Dartmouth College with its $6 billion endowment estimates it will pay $4.5 million in new taxes. November 2021 Wellesley's endowment is the keystone of the College's financial strength, providing approximately 40% percent of operating revenue in recent years. Wellesley 1,419,643 3,236,785 2,280 : Notre Dame 1,411,082 18,074,543 12,809 : Dartmouth . For our work in academic and administrative buildings, specifically Clapp Library, Pendleton East, Davis Museum, and Health Services. In the spring of 2021, the Board of Trustees affirmed an Investment Committee decision to prohibit commitments to private equity funds devoted to oil and gas investments. As of 2021[update], the total stood at $854.11 billion, with an average across all institutions of $1.1621 billion and median of $2.0102 million. Cambridge Associates Blended Benchmark (2). The goal of endowment and restricted gifts accounting is to uphold the Controller's Office mission by providing high quality and efficient accounting services on endowments and restricted gifts to faculty, staff, and administration and to ensure the proper recording of donor's gifts. No affiliation or endorsement, express or implied, is provided by their use. The loss also . When Volent took on her position in the summer of 2000, Bowdoin's endowment stood at just over $465 million; in the year ended June 30, 2020, the endowment had gained 5.9 percent, growing to $1.8 billion, providing nearly $72 million to the annual operations of the College last year, including $33 million for need-based financial aid. We invest with a long-term outlook to provide enduring support to the College in such key areas as student financial aid, faculty recruitment and retention, academic programs, and facilities. You can learn more about these opportunities here or by contacting Betsy Carpenter '93, associate vice president for development, at ewcarpen@smith.edu or 413-585-2052. It's not like that at all colleges. Errors are noted below: Thanks for reaching out. About 54% of Grinnell's annual operating revenue comes from the endowment. Debby Kuenstner joined Wellesley College as Chief Investment Officer in February 2009. Tuition and fees (out-of-state) $56,052. The endowment income tax imposes a tax of 1.4 percent of the net investment income of institutions of 500 or more full-time equivalent students with large endowments. Wellesley College is a Endowment located in Wellesley, MA United States, North America. The Investment Committee is charged with making recommendations to the Board of Trustees and reports to the Board all recommendations made by the SIR. The tabulated data below are from NACUBO. Required fields are marked *. 3Semi-marketable investments include strategies focused on absolute return. Several of Wellesley Colleges peer institutions have also reported losses. The schools we've detailed on this list represent the top 25 choices for an affordable liberal arts college with the best return on investment. The money raised for the endowment will go towards a multitude of purposes, including helping students fund their education and supporting professor Keohane also served on other boards as a representative of Wellesley College and the academic world. Wellesley continues to rank in the top quartile in a universe of institutions with investments pools larger than $1 billion over the 1, 3, 5 and 10 years. Established in 1919, its central focus is on entrepreneurship education . Opportunities for establishing endowed funds begin at $150,000. Chicago, IL 60601. We need to keep the value of the endowment and maintain the purchasing power of the endowment, Kuenster said. The principal (gift amount) will be invested in perpertuity and the income earned from this investment will be used for the purpose designated by the donor. To that end, the College invests only with managers who meet high ethical, investment, operational and performance standards. Wellesley College strives to be a responsible investor. The amount of income available to be spent in the fiscal year is determined by taking the number of shares the fund owns and multiplying by the distribution rate per share determined by the College. Wellesley College's Investment Office manages an endowment fund that is based in Wellesley, Massachusetts. On June 30, 2021, the portfolios exposure to fossil fuels was 2.9%, down from 3.7% a year earlier. In addition, we look for managers with a sustainable investment edge. Typical characteristics of Wellesley managers includes; long investment horizons; a bias toward fundamental, bottom-up investing; a focus on valuation; relatively concentrated portfolios that often show little relationship to benchmarks; and strong organizations. Some universities benefit from endowments that are not under their direct control but which are nonetheless dedicated to the welfare of one or several institutions. Ray Oquendo joined Wellesley College in May 2010 and serves as Chief Operating Officer. The $500,000 is not adjusted for inflation, so the threshold is effectively lowered over time. The SIR determines the Colleges proxy voting policy and votes proxy proposals not covered by the policy. Leverage your professional network, and get hired. The exceptional FY21 return benefited from the fact that in making commitments to long-term alternatives the Investment Team has long found venture and growth opportunities more attractive than other strategies. Participation requires a two-semester commitment. We will be in touch soon. More Debby Kuenstner '80 Chief Investment Officer Wellesley College posted an 8.8% return for its endowment for the fiscal year ended June 30, according to the Massachusetts-based college's annual report. Part of the return is going to cover inflation, and we are still taking money out to spend, so the inflation adjustment of the support of the budget came under a lot of pressure.. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. Investment OfficeNehoiden HouseWellesley College91 Dover RoadWellesley, MA 02482, Debby Kuenstner, Chief Investment Officer, Copyright Trustees of Wellesley College | Wellesley College 106 Central Street Wellesley, MA 02481 (781) 283-1000. Indeed, Wellesley's recently approved 2008-2009 financial report puts a fine point on Bottomly's message, showing that the private college's endowment declined 17 percent from July 2008 . Listing for: Wellesley College. Watts said the college grew its endowment by about $45 million in the 2013 budget year and is working to cut spending. Emory University View Total Assets Endowment North . Still, the immediate challenge of inflation may put pressure on the endowments support for the budget, given the unpredictable nature of the economy. This growth added $958 million to the endowment, bringing its value to $3.22 billion as of June 2021. We encourage you to reach out for a one-on-one discussion about endowed giving opportunities by emailing giving@wellesley.edu. For public universities, the larger endowments are often associated with flagship state universities, especially those associated with a medical school. The stewardship of these resources includes the investment of the endowment and other financial assets of the College as well as oversight of the investment of planned giving assets. The Wellesley College Board of Trustees is responsible for the investment of the College's Endowment. By asset class, long-term alternatives returned 77.6% for the fiscal year ended June 30, followed by equities, at 39.8%; semimarketable investments, which include absolute return, 22.8%; cash and equivalents, -0.1%; and fixed income, -10%. Choose your news we will deliver. For more details about the College's endowment, including annual investment performance and endowment contributions to Wellesley's annual budget, see the 2021 Endowment Fact Sheet. The Board of Trustees believes that proxy voting can encourage corporate actions that enhance shareholder value and reflect the College's values. The Ivy League schools don't have a monopoly on higher education. The SIR evaluates these requests and may decide to recommend action to the Investment Committee. Job in Wellesley - Norfolk County - MA Massachusetts - USA , 02482. The Public Ivies also report smaller endowments than the Ivies and these endowments must stretch further because of their larger student bodies. About Us We're all different. Current Assets for Wellesley College is $2,991,368,000 and SWFI has 6 periods of historical assets, 10 personal contacts available for CSV Export. . Brick building in the campus of Wellesley College. Sign up and get the best of News delivered straight to your email inbox, free of charge. The program is for highly self-motivated individuals with a strong interest in finance and investments. Wellesley College 1875 The goal of endowment and restricted gifts accounting is to uphold the Controllers Office mission by providing high quality and efficient accounting services on endowments and restricted gifts to faculty, staff, and administration and to ensure the proper recording of donor's gifts. No commitments to such funds have been made since 2017. Administration chose to increase the tuition, room and board cost for a total increase of $2,820 in the 2021-22 school year, joining dozens of other colleges, such as Juilliard and Harvard. Request Profile Update Download Data $2,991,368,000 Assets 10 Contacts Home Profiles Endowment North America It is important for the DR/DS department to credit the proper donor and track the donor information. Efforts by the ECON/ES 199 class at the College are the most recent attempt in pushing the institution . Wellesley College, which has a $2.2 billion endowment, expects to owe the federal government about . Deborah F. KuenstnerChief Investment Officer, Investment OfficeNehoiden HouseWellesley College91 Dover RoadWellesley, MA 02482, Debby Kuenstner, Chief Investment Officer, Copyright Trustees of Wellesley College | Wellesley College 106 Central Street Wellesley, MA 02481 (781) 283-1000. Your email address will not be published. Across the portfolio, our managers must have an uncompromising focus on integrity, which not only ensures alignment with the Colleges values, but protects long-term returns as these managers put client interests first. Smith's endowment, now valued at more than $2 billion, funds more than one-third of the college's operating budget and enables the college to invest in such key areas as student financial aid, faculty recruitment and retention, and strong academic programming. For the gender breakdown for all students, go here. Columbia University in the City of New York $24,698,782,000 Endowment North America 11. Congratulations, Dr. Paula Johnson, nepo baby extraordinaire! She begins her new role at Union on Jan. 2, 2023. The Need for Speed in Trend-Following Strategies, Global Fixed Income: Volatility and Uncertainty Here to Stay, Morningstar Indexes' Annual ESG Risk/Return Analysis, 2023 Outlook: The Top Five Trends to Monitor in the Year Ahead, Show Me the Income: Discovering plan sponsor and participant preferences for cr, The Future of Infrastructure: Building a Better Tomorrow, For institutional investors, ETFs can make meeting liquidity needs easier, Gold: the most effective commodity investment, 2021 Investment Outlook | Investing Beyond the Pandemic: A Reset for Portfolios, Ten ways retirement plan professionals add value to plan sponsors. Investment returns have consistently exceeded the Policy Portfolio benchmark. Fueled by accommodative fiscal and monetary policy and the roll-out of COVID-19 vaccines, the rebound in risk assets that began in the second quarter of 2020 continued through FY21. The college's long-term (10-year average) returns regularly place us in the top decile of performance compared to approximately 600 reporting colleges and . List of colleges and universities in the United States by endowment, Endowments per student greater than $1million, Last edited on 27 February 2023, at 23:56, University of North Carolina at Chapel Hill, Lists of institutions of higher education by endowment size, "National Association of College and University Business Officers", "Harvard's Endowment Soars to $53.2 Billion, Reports 33.6% Returns", "Yale endowment earns 40.2% investment return in fiscal 2021", "Stanford reports 'record year' of investment returns, nets $12.1 billion in gains", "Princeton's endowment returns continue to support University mission and impact", "Wealthy colleges face uncertainty as they seek ways to avoid new endowment tax", "The wealthiest universities are paying big endowment tax bills, but how much are others who are on the hook paying? Today's 38,000+ jobs in Hauts-de-France, France. The College Scorecard of the U.S. Department of Education says undergraduate "salary after completing" ranges between $25,000 and $45,000 a year, the former figure lower than what a full-time. Ms. Mendillo, who previously ran the Wellesley College endowment, took over at Harvard in July 2008. Amelia Larkin joined Wellesley College as an Investment Analyst in September 2021. Wellesley College is a private institution that was founded in 1870. ', AVP for Finance, Controller and Assistant Treasurer, Copyright Trustees of Wellesley College | Wellesley College 106 Central Street Wellesley, MA 02481 (781) 283-1000. [7][8], The endowment tax provision of the Tax Cuts and Jobs Act has been criticized as funding tax breaks for corporations and the wealthy at the expense of education. Despite a highly challenging investment environment, our endowment is at nearly $502 million. In fiscal year 20202021, total operating expenditures were $195.6million. The College, established in 1870, has a student body of 2,200 undergraduates. Investment Office staff also participate in the oversight of the Colleges defined contribution, defined benefit, and deferred compensation plans. We use a blend of 65 percent stocks (as measured by the MSCI ACWI) and 35 percent bonds (as measured by the Citigroup World Govt Bond Index). 8, it trails behind nearly 200 academic institutions in doing so. Year by year, the College has been steadily increasing the total cost of attendance, and the 2021-2022 school year was no exception. Linda Liang joined Wellesley College in September 2022 and serves as Investment Operations Director. 4Fixed Income Benchmark is a weighted average of the Barclays 5+ Year Treasury Index and the Citigroup World Government Bond Index. Endowment Funding. The endowment returned 8.8% for the fiscal year ended June 30, 2020. It's honestly not for everyone. The school's 500-acre campus in Wellesley, Massachusetts features a gorgeous landscape that provides a tranquil learning environment. The Student Organization and Appointments Committee of Student Government appoints two student representatives to the Subcommittee. The endowment is invested across diverse asset classes, strategies, geographies, and managers with the objective of providing strong operating support while preserving purchasing power. The college's large endowment pays for about a half of it, even for the students paying full tuition. I believe that the College will be well served by its strategy of broad diversification across asset classes, geographies, and strategies, and by the excellent investment managers with whom we partner. Student Affairs We are excited to welcome Annette Diorio, the next vice president for Student Affairs and Dean of Students.