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. 1Public Equity Blended Benchmark is a weighted average of MSCI ACWI, MSCI EAFE, MSCI EM and Russell 3000. Ms. Mendillo, who previously ran the Wellesley College endowment, took over at Harvard in July 2008. 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. Average starting salaries vary by discipline, but the average starting salary for all 2021 graduates was around $60,000 a year. In the past fiscal year, BC's endowment jumped by around $1.2 billion, bringing the endowment's total to $3.8 billion. During Walsh's tenure, the value of the Wellesley College endowment has grown from $485 million to more than $1.3 billion. Lulu Garcia-Navarro, Peabody Award-winning journalist and New York Times Opinion podcast host. Wellesley College's Investment Office manages an endowment fund that is based in Wellesley, Massachusetts. The Wellesley College Board of Trustees is responsible for the investment of the College's Endowment. 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. 10. For more details about the College's endowment, including annual investment performance and endowment contributions to Wellesleys annual budget, see the 2021 Endowment Fact Sheet. The Subcommittee on Investment Responsibility (SIR), is composed of Trustees, faculty, staff, and students and is responsible for proxy voting and making recommendations to the Investment Committee related to shareholder responsibility. Still, the immediate challenge of inflation may put pressure on the endowments support for the budget, given the unpredictable nature of the economy. Opportunities for establishing endowed funds begin at $150,000. Established in 1919, its central focus is on entrepreneurship education . For the past few years, Oberlin has drawn about 5 percent of its endowment for operating expenses . Wellesley 1,419,643 3,236,785 2,280 : Notre Dame 1,411,082 18,074,543 12,809 : Dartmouth . Wellesley Colleges endowment return fell by roughly $291 million in the 2022 fiscal year, the first year of negative return since 2017. Endowment per Student is a good indicator of the amount of aid it is likely to grant. It was a women-only institution at a time when women were generally denied access to higher education. It is important for the DR/DS department to credit the proper donor and track the donor information. Though Hershey does not list bulk prices for its ice cream in Massachusetts on its website, a 2007 New Jersey government document states that each three-gallon bulk container of ice cream, frozen yogurt or sorbet sells for about $24. This report displays the balance forward, the annualized net income distribution, net activity and the current balance. Your gift to Wellesleys endowment will provide a lasting source of financial strength for the College, safeguarding our future and ensuring that Wellesley can continue to fulfill its mission regardless of economic climate. Description. [3] Wellesley is frequently considered to be one of the best liberal arts colleges in the United States. 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. Required fields are marked *. 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 endowment spending rate approved by the Board of Trustees stands at 4.25%. 130 E. Randolph St. 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. It. Tuition and fees (in-state) $56,052. The endowments investment returns are strong compared to a variety of common yardsticks. 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. It's never just a job at Babson. 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. A grant usually requires deliverables, financial reports, a time restriction and a budget. Wellesley has the largest endowment of the Seven Sister. . 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. Tenth Floor November 2021 Wellesley's endowment is the keystone of the College's financial strength, providing approximately 40% percent of operating revenue in recent years. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. The college carefully invests gifts to the endowment, with an eye towards strong financial returns via investments that meet Wellesleys high ethical standards. As of June 30, 2021, the three-, five-, and ten-year annualized returns for Bowdoin's endowment were 22.7 percent, 19.2 percent, and 14.5 percent, respectivelyplacing Bowdoin among the top-performing endowments in the country across these time periods. This growth added $958 million to the endowment, bringing its value to $3.22 billion as of June 2021. [2] In executing the investment strategy, the Investment Office team aims to add value within asset classes through long-term partnerships with strong performing, highly ethical investment managers. 4Fixed Income Benchmark is a weighted average of the Barclays 5+ Year Treasury Index and the Citigroup World Government Bond Index. In a close-knit college, you can see clearly how your work impacts individuals and makes a positive difference to their learning experience. Debby Kuenstner 80 is Wellesley's chief investment officer. Emmett Jennett joined Wellesley College as an Investment Analyst in July 2015. Wellesley College's endowment return fell by roughly $291 million in the 2022 fiscal year, the first year of negative return since 2017. Debby Kuenstner '80 is Wellesley's chief investment officer. These included: IBM Corporation, State Street Boston Corporation, WGBH Broadcasting and . In 2019, Wellesley's endowment of $2.2 billion ranked 49th among all American colleges and universities and is the largest among women's schools. 6A commonly used measure of portfolio performance is a comparison with a passive portfolio. ", "Why the Endowment Tax Is Unconstitutional", "H.R.5220 - Don't Tax Higher Education Act", "H.R.4438 - Don't Tax Higher Education Act", "U.S. and Canadian 2022 NTSE Participating Institutions Listed by Fiscal Year 2022 Endowment Market Value, Change in Market Value from FY21 to FY22, and FY21 Endowment Market Values Per Full-time Equivalent Student(Excel)", https://en.wikipedia.org/w/index.php?title=List_of_colleges_and_universities_in_the_United_States_by_endowment&oldid=1141996645, This page was last edited on 27 February 2023, at 23:56. Babson College is a world-class business school, empowering entrepreneurial leaders to create great economic and social value - everywhere. Wellesley College Cost Breakdown. The three key reasons why people thrive here are: Despite a highly challenging investment environment, our endowment is at nearly $502 million. Additional gifts will result in increased income. 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? 10 Ice Spice lyrics that are actually about Wellesley. The larger the endowment, the greater the revenue stream for the College. [9][10] Critics note that the tax could threaten financial aid for low-income students, stifle social mobility, and obstruct life-saving research. 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 College strives to be a responsible investor. There are many great smaller and lesser-known colleges that offer an excellent education at a more affordable rate, especially when you take ROI into account. 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. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Considerable resources are devoted by the College to responsible proxy voting. 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 table below compares the Policy Portfolio and the actual asset allocation on June 30, 2021. 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. Bowdoin College reported a 57.4 percent return during fiscal 2021, which ended June 30. The SIR also may make recommendations directly to the Investment Committee on issues that are raised by Subcommittee members. (65K+ tuition WOW!!! View the 'FIN Gift Spendable Balance' for the gift. An endowed fund is usually given to the College with the intent that it is a permanent fund for the support of the College, usually with a specific intent such as scholarship, prize, professorship, etc. There was an error. The Ivy League schools don't have a monopoly on higher education. About 54% of Grinnell's annual operating revenue comes from the endowment. The Investment Office and the Investment Committee remain focused on long-term growth to ensure that the endowment continues to support the Colleges mission. Your email address will not be published. Wellesley College Endowment General Information. Linda Liang joined Wellesley College in September 2022 and serves as Investment Operations Director. 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. During FY21, the value of the portfolios fossil fuel exposure increased to $94.5 million from $84.7 million the year before as the value of private equity oil and gas interests recovered. 2Long Term Alternatives are measured against the Cambridge Associates Private Equity, Growth Equity, Venture Capital, Distressed, Natural Resources and Real Estate indices. 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. So endowment distributions in [the 2023] fiscal year, what were spending right now, was driven in large measure by that extraordinary return that we had [in the 2021 fiscal year], Kuenster said. Board of Trustees to vote on divestment in late April. 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. 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. To that end, the College invests only with managers who meet high ethical, investment, operational and performance standards. With an $887.4 million endowment last year, 186-year-old Oberlin is wealthier than most small private institutions, but far behind its wealthier peers -- colleges like Amherst, Swarthmore and Wellesley all reported endowments at or near $2 billion. Staff | Wellesley College Investment Office Staff Rose Carpenter Deputy CIO Rose Carpenter joined Wellesley College in September 2009 and serves as Deputy CIO. But Watts said the endowment, which he said ranges from $500 to $700 million, is smaller than the endowments of other colleges in Oberlin's peer group. It's honestly not for everyone. $75,198 per year. The endowment returned 8.8% for the fiscal year ended June 30, 2020. In 2006, we hired Collette Chilton to the new position of Chief Investment Officer. Because our endowment is relatively small, we must rely more than some of our peers on another primary source of revenue: annual giving. Cambridge Associates Blended Benchmark (2). More Debby Kuenstner '80 Chief Investment Officer Listing for: Wellesley College. 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. Debby Kuenstner joined Wellesley College as Chief Investment Officer in February 2009. 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. Sign up and get the best of News delivered straight to your email inbox, free of charge. You can see the balance in the gift in 'FIN Gift Spendable Balance. When we had the 46.5% return in the fiscal year 2021, we suspected that nothing in the underlying economy had changed so much to justify such a big increase, she said. 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. It's not like that at all colleges. The bill specifies that the tax will be imposed on colleges and universities whose "aggregate fair market value of the assets of which at the end of the preceding taxable year . 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. How will the DOLs finalized rules impact ESG investing? yAy!!!) Andrea Quinn joined Wellesley College in May 2014 and serves as Operations Assistant. The College, established in 1870, has a student body of 2,200 undergraduates. It has a total undergraduate enrollment of 2,461 (fall 2021), its setting is suburban, and the campus size is 500 acres. Spokeswoman Casey Bayer confirmed Friday that all reported returns were net of fees. The Policy Portfolio, established by the Wellesley College Investment Committee, guides asset allocation. 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). Wellesley total enrollment is approximately 2,280 students. The funds from restricted gift or income distribution get carried over each year. Wellesley Racial/Ethnic Breakdown of Undergraduates It was founded by Roger W. Babson as an all-male business institute but became coeducational in 1970. Ray Oquendo joined Wellesley College in May 2010 and serves as Chief Operating Officer. Dartmouth College with its $6 billion endowment estimates it will pay $4.5 million in new taxes. The Babson College Fund (BCF) is an accredited course in which specially selected undergraduate and graduate students manage $4 million of the Babson College endowment. Brick building in the campus of Wellesley College. New York, NY 10017-4036, Chicago Office Mailing address:Wellesley CollegeController's Office106 Central St., GRH139Wellesley, MA 02481-8203, Higher Education Emergency Relief Fund (HEERF). SWFI is a minority-owned organization. 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. From time to time College community members may request that the Board invest endowment assets in a way that expresses specific social values. The Public Ivies also report smaller endowments than the Ivies and these endowments must stretch further because of their larger student bodies. Wellesley Collegehas an exchange program with Spelman College. 2008-2023 Sovereign Wealth Fund Institute. Donors receive annual reports on their endowed fund's performance. 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. Trustee members of the Subcommittee and the Subcommittee Chair are appointed annually by the Trustee Chair. Here you'll find a collaborative, collegial team environment designed to include and motivate every individual. Support a healthy tomorrow with your gift today. 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. No commitments to such funds have been made since 2017. Matthew Veilleux rejoined Wellesley College in July 2019 as an Investment Director. Congratulations, Dr. Paula Johnson, nepo baby extraordinaire! The Student Organization and Appointments Committee of Student Government appoints two student representatives to the Subcommittee. 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. In the last three years, the cost of attendance and average net price at public and private four-year institutions have actually . Chicago, IL 60601. 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Stands at 4.25 % issues that are raised by Subcommittee members in 1970 include... 5+ year Treasury Index and the Citigroup World Government Bond wellesley college endowment and get the best News! Institutions have actually in may 2010 and serves as Operations Assistant commonly used measure of portfolio is!