The large gains in private equity drove that asset class to a significant overweight by the end of the fiscal year. Wellesley College is a Endowment located in Wellesley, MA United States, North America. The total cost of attendance includes tuition and fees, books and supplies, and living expenses, as reported for the 2019-2020 school year. She also estimates that there will be a spending bump in the 2024 fiscal year. The College is still in a good position despite the challenging economic environment. 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. Wellesley College posted a 46.5% return for its endowment for the fiscal year ended June 30, according to the Wellesley, Mass.-based college's annual report. Choose your news we will deliver. The endowment will also fund the Colleges large-scale reconstruction project around academic and administrative buildings. Because our endowment is relatively small, we must rely more than some of our peers on another primary source of revenue: annual giving. Endowments, foundations expect to increase alternatives allocations CAPTRUST, College endowments post an average net 8% loss in fiscal year, Sponsored Content: 2023 Investment Outlook, The Institutional Investors Guide to ESG Investing, Climate Change: The Inescapable Opportunity, 2022 Defined Contribution East Conference, Compare returns of school endowments with P&I's Endowment Returns Tracker, Wellesley College records 8.8% fiscal-year return, Trinity University endowment returns 36.3% for fiscal year, Colgate University returns 35.8% return for fiscal year. Babson College is a world-class business school, empowering entrepreneurial leaders to create great economic and social value - everywhere. Sovereign Wealth Fund Institute and SWFI are registered trademarks of the Sovereign Wealth Fund Institute. Request Profile Update Download Data $2,991,368,000 Assets 10 Contacts Home Profiles Endowment North America Tenth Floor 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? The college's large endowment pays for about a half of it, even for the students paying full tuition. Chicago, IL 60601. The lavish spending was made possible by the earnings from Harvard's $36.9 billion endowment, the world's largest. [3] 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. At Wellesley, the creamy treats are distributed through Hershey's Colleges and Universities ice cream program. 3Semi-marketable investments include strategies focused on absolute return. 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. 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. 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. For public universities, the larger endowments are often associated with flagship state universities, especially those associated with a medical school. 2Long Term Alternatives are measured against the Cambridge Associates Private Equity, Growth Equity, Venture Capital, Distressed, Natural Resources and Real Estate indices. 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. By 2015, the table totaled $394.96billion, an increase of 80%, and in 2018, the total further increased to $479.23billion. Participation requires a two-semester commitment. 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. . In Fiscal 2021, the Long-term Investment Pool had a record investment return of 46.5%. Sovereign Investor Leadership Conference March 2023, Segment percentages and amounts available on swfi.com. Against this backdrop, venture and growth equity strategies delivered extraordinary returns. Ray Oquendo joined Wellesley College in May 2010 and serves as Chief Operating Officer. This report displays the balance forward, the annualized net income distribution, net activity and the current balance. Exposure to fossil fuel investments is expected to decline over the next several years as existing investments fully liquidate. The endowment spending rate approved by the Board of Trustees stands at 4.25%. 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. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. The loss also represents the second-worst annual investment return Wellesley College has seen in the last 20 years. She created an endowed scholarship fund to support the College. In all cases, the groups responsible for appointing representatives are asked to make two-year appointments, on a staggered basis where the group is responsible for appointing multiple representatives, to maintain continuity in Subcommittee discussions. View the 'FIN Gift Spendable Balance' for the gift. . Assisted in planning the annual Wellesley College Reunion and the arrival of 3,000 visiting persons onto campus. 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 College is a private institution that was founded in 1870. For the five, 10 and 15 years ended June 30, the $3.2 billion endowment returned 16.5%, 11.7% and 9.8%, respectively, vs. their respective benchmarks of 14%, 9.9% and 8.4%. 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. 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. Endowment per Student is a good indicator of the amount of aid it is likely to grant. To that end, the College invests only with managers who meet high ethical, investment, operational and performance standards. 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. [9][10] Critics note that the tax could threaten financial aid for low-income students, stifle social mobility, and obstruct life-saving research. Wellesley student orgs lead collection drive and fundraiser for relief, BSA hosts International Mother Language Coffeehouse, Renowned photographer gives energetic artist talk, The Starling Girl Brings Agency to the Forefront. The difference between the portfolio and the benchmark is a measure of the value added by the Investment Office and the Colleges investment managers. Year by year, the College has been steadily increasing the total cost of attendance, and the 2021-2022 school year was no exception. Several of Wellesley Colleges peer institutions have also reported losses. Wellesley Racial/Ethnic Breakdown of Undergraduates 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 actual cost of attendance was well over $80,000 per student just a few years ago. . SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. New York, NY 10017-4036, Chicago Office 6A commonly used measure of portfolio performance is a comparison with a passive portfolio. Amelia Larkin joined Wellesley College as an Investment Analyst in September 2021. 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. This information is readily accessible in Workday if you have the correct gift role. These included: IBM Corporation, State Street Boston Corporation, WGBH Broadcasting and . 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. The portfolio has sufficient exposure to liquid investments to maintain the endowments financial support of the Colleges operations and to provide for the liquidity needs of the portfolio. 10. Despite a highly challenging investment environment, our endowment is at nearly $502 million. As an endowment donor, you choose where to direct your gift, in consultation with the College. Still, the immediate challenge of inflation may put pressure on the endowments support for the budget, given the unpredictable nature of the economy. Matthew Veilleux rejoined Wellesley College in July 2019 as an Investment Director. 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. Endowment and restricted gifts accounting aims to provide: Clear, concise and timely dissemination of policies and procedures related to endowment and restricted gifts, Proper recording of gifts in the financial system to ensure compliance with donor's intentions, Information to departments with restricted gifts so that gifts are spent in accordance with donor's intentions, Professional and helpful interactions with the College community and external banks on all endowment, restricted and planned giving gift accounting matters, Mailing address:Wellesley CollegeController's Office106 Central St., GRH139Wellesley, MA 02481-8203, Higher Education Emergency Relief Fund (HEERF), AVP for Finance, Controller and Assistant Treasurer, Copyright Trustees of Wellesley College | Wellesley College 106 Central Street Wellesley, MA 02481 (781) 283-1000. Babson College is a private business school in Wellesley, Massachusetts. The loss is not unexpected, according to Kuenstner. Job in Wellesley - Norfolk County - MA Massachusetts - USA , 02482. The endowments investment returns are strong compared to a variety of common yardsticks. It reviews and amends the proxy voting policy annually. Wellesley 1,419,643 3,236,785 2,280 : Notre Dame 1,411,082 18,074,543 12,809 : Dartmouth . 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. No commitments to such funds have been made since 2017. On June 30, 2021, the portfolios exposure to fossil fuels was 2.9%, down from 3.7% a year earlier. 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. It is currently 5 percent of the endowment's value averaged over 12 quarters. Inflation rises, but spending remains unaffected. No new commitments to private equity oil and gas funds have been made since 2017. Tuition and fees (out-of-state) $56,052. 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. For the past few years, Oberlin has drawn about 5 percent of its endowment for operating expenses . 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. 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. Wellesley College posted a 46.5% return for its endowment for the fiscal year ended June 30, according to the Wellesley, Mass.-based college's annual report. 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