Since 1875, Wellesley College has been a leader in . Description. 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. This growth added $958 million to the endowment, bringing its value to $3.22 billion as of June 2021. [2] 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. 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. The Investment Office serves Wellesley College's missionto provide an excellent liberal arts education for women who will make a difference in the worldthrough the management and oversight of key College financial assets and benefit plans. Wellesley Undergraduate Population Male/Female Breakdown of Undergraduates The full-time Wellesley undergraduate population is made up of 100% women, and 0% men. Many institutions of higher education in the United States maintain financial endowmentssums of money that are invested in stocks, yielding returns that fund a portion of an institution's operational expenses and help ensure it survives in perpetuity. Keohane also served on other boards as a representative of Wellesley College and the academic world. 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. 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. 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%. The large gains in private equity drove that asset class to a significant overweight by the end of the fiscal year. 10 Ice Spice lyrics that are actually about Wellesley. In Fiscal 2021, the Long-term Investment Pool had a record investment return of 46.5%. 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. ', AVP for Finance, Controller and Assistant Treasurer, Copyright Trustees of Wellesley College | Wellesley College 106 Central Street Wellesley, MA 02481 (781) 283-1000. These included: IBM Corporation, State Street Boston Corporation, WGBH Broadcasting and . 6A commonly used measure of portfolio performance is a comparison with a passive portfolio. In the discharge of its fiduciary duty, the Board is mindful of the role that endowment returns play in the College's accomplishment of its own socially significant mission. The SIR evaluates these requests and may decide to recommend action to the Investment Committee. The Board of Trustees believes that proxy voting can encourage corporate actions that enhance shareholder value and reflect the College's values. Chicago, IL 60601. 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. Wellesley Collegehas cross-registration and dual-degree programs with Massachusetts Institute of Technology, Olin College, and cross-registration with Brandeis Universityand Babson College. Still, the immediate challenge of inflation may put pressure on the endowments support for the budget, given the unpredictable nature of the economy. The difference between the portfolio and the benchmark is a measure of the value added by the Investment Office and the Colleges investment managers. 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. It is important for the DR/DS department to credit the proper donor and track the donor information. [10][11] There continue to be vigorous efforts that advocate the repeal of the tax. The Ivy League schools don't have a monopoly on higher education. Copyright Trustees of Wellesley College | Wellesley College 106 Central Street Wellesley, MA 02481 (781) 283-1000, We encourage you to reach out for a one-on-one discussion about endowed giving opportunities by emailing, For more details about the College's endowment, including annual investment performance and endowment contributions to Wellesleys annual budget, see the. U.S. colleges and universities maintain some of the largest endowments in the world, and make up the strong majority of educational institutions with endowments greater than $1billion. Contact Alumnae Relations & Development . Today's 38,000+ jobs in Hauts-de-France, France. The loss also represents the second-worst annual investment return Wellesley College has seen in the last 20 years. Tuition and fees (out-of-state) $56,052. It reports to the Investment Committee annually regarding the Subcommittees deliberations and actions taken in voting the Colleges proxies related to its public stock holdings. Members of the College community with questions, suggestions, or thoughts about the management of the Wellesley College endowment are invited to contact me at any time. For public universities, the larger endowments are often associated with flagship state universities, especially those associated with a medical school. Endowment per Student is a good indicator of the amount of aid it is likely to grant. Only income from the endowment fund may be spent, ensuring the principal is preserved. Over the long term, we have had top quartile investment returns, she said. Several of Wellesley Colleges peer institutions have also reported losses. Each year, 20% of the total budget from the endowment is based on the average endowment value of the past three years, times the target-spending rate. Equity markets were buoyed by a turnaround in earnings, and real assets benefited from supply-demand imbalances as economies recovered. In 2006, we hired Collette Chilton to the new position of Chief Investment Officer. 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 Brick building in the campus of Wellesley College. The Policy Portfolio benchmark is a measure of how the Colleges target asset allocation would perform if returns in every asset class matched the market. Investment Director. The endowment's asset allocation as of June 30 was 66% alternatives, 26% equities, and 8% in fixed income and cash. We will be in touch soon. America's wealthiest colleges and universities saw their endowment returns take off in fiscal year 2021 after dismal average returns the year prior. 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. The Subcommittee on Investment Responsibility (SIR), comprised of trustees, students, faculty and staff, sets the College's proxy voting policy and votes any proposals that are not covered by the policy. 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. Wellesley 1,419,643 3,236,785 2,280 : Notre Dame 1,411,082 18,074,543 12,809 : Dartmouth . The $500,000 is not adjusted for inflation, so the threshold is effectively lowered over time. [1][2] In 2005, the endowment table totaled $219.37billion. Typically, the funds are exhausted by the end of the grant or the balance should be returned to the grantor. Walsh recently led a five-year comprehensive fundraising campaign, which closed in October 2005 after raising $472.3 million, a record for a liberal arts college. 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. [3] Get access to the news, research and analysis of events affecting the retirement and institutional money management businesses from a worldwide network of reporters and editors. Endowment Funding. The Wellesley College Board of Trustees is responsible for the investment of the College's Endowment. Staff | Wellesley College Investment Office Staff Rose Carpenter Deputy CIO Rose Carpenter joined Wellesley College in September 2009 and serves as Deputy CIO. Opportunities for establishing endowed funds begin at $150,000. The money raised for the endowment will go towards a multitude of purposes, including helping students fund their education and supporting professor 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. Work at the Investment Office centers on selecting and monitoring investment . 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. It is currently 5 percent of the endowment's value averaged over 12 quarters. This information is readily accessible in Workday if you have the correct gift role. . Tenth Floor 4Fixed Income Benchmark is a weighted average of the Barclays 5+ Year Treasury Index and the Citigroup World Government Bond Index. Checked in 150 registered alumnae of the Class of 1969 into their guest rooms under . 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. Despite a decline in this years endowment, the Colleges spending for the next two fiscal years will not significantly be affected, given previous positive returns. 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. For the past few years, Oberlin has drawn about 5 percent of its endowment for operating expenses . The program is for highly self-motivated individuals with a strong interest in finance and investments. Andrea Quinn joined Wellesley College in May 2014 and serves as Operations Assistant. New York, NY 10017-4036, Chicago Office Two faculty members are appointed to the Subcommittee by the Agenda Committee of Academic Council. Listing for: Wellesley College. 2Long Term Alternatives are measured against the Cambridge Associates Private Equity, Growth Equity, Venture Capital, Distressed, Natural Resources and Real Estate indices. Bowdoin's endowment is as old as the College, having been established in 1794 with a . 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 . Totaling $2.6 billion on June 30, 2021, the endowment is managed by the Smith College Investments Office, under the supervision of the Investment Committee. 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. The larger the endowment, the greater the revenue stream for the College. Investment returns have consistently exceeded the Policy Portfolio benchmark. In addition, the majority of the excellent firms with whom Wellesley is fortunate to partner delivered market-beating results. These institutions are exclusively private. Cambridge Associates Blended Benchmark (2). Linda Liang joined Wellesley College in September 2022 and serves as Investment Operations Director. Board of Trustees to vote on divestment in late April. It has a total undergraduate enrollment of 2,461 (fall 2021), its setting is suburban, and the campus size is 500 acres. Wellesley's endowment of $3.226 billion is the largest out of all women's colleges and the 49th largest among all colleges and universities in the United States in 2019. No affiliation or endorsement, express or implied, is provided by their use. The loss is not unexpected, according to Kuenstner. For example, Wellesley College in Massachusetts grew enrollment by about 9% in the five years prior to the pandemic while also padding its endowment, which ended fiscal 2020 at $2.2 billion. The SIR also may make recommendations directly to the Investment Committee on issues that are raised by Subcommittee members. 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. After accounting for inflation, college prices are now dropping. Ms. Mendillo, who previously ran the Wellesley College endowment, took over at Harvard in July 2008. 130 E. Randolph St. She had spent the last six years running the $1.6 billion Wellesley College . New Hauts-de-France, France jobs added daily. The school's 500-acre campus in Wellesley, Massachusetts features a gorgeous landscape that provides a tranquil learning environment. Main Office 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. Additional gifts will result in increased income. 2008-2023 Sovereign Wealth Fund Institute. It's honestly not for everyone. Average starting salaries vary by discipline, but the average starting salary for all 2021 graduates was around $60,000 a year. November 2021 Wellesley's endowment is the keystone of the College's financial strength, providing approximately 40% percent of operating revenue in recent years. No commitments to such funds have been made since 2017. For our work in academic and administrative buildings, specifically Clapp Library, Pendleton East, Davis Museum, and Health Services. According to Chief Investment Officer, Debby Kuenstner, the losses were driven primarily by the poor performance of financial markets, which include public equities, hedge funds, fixed income, and private investments, which yielded negative returns. Against this backdrop, venture and growth equity strategies delivered extraordinary returns. 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. View the 'FIN Gift Spendable Balance' for the gift. Cost cutting . Year by year, the College has been steadily increasing the total cost of attendance, and the 2021-2022 school year was no exception. We're all Babson. Bowdoin College reported a 57.4 percent return during fiscal 2021, which ended June 30. Watts said the college grew its endowment by about $45 million in the 2013 budget year and is working to cut spending. Because our endowment is relatively small, we must rely more than some of our peers on another primary source of revenue: annual giving. The Finance and Investment Offices oversee the financial responsibilities of the College which include the budget, financial planning, endowment and debt management, and stewardship of financial resources. 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