The college's large endowment pays for about a half of it, even for the students paying full tuition. In their annual report released earlier this month, the Wellesley College Investment Office reported that the endowment experienced 46.5% growth in the 2021 fiscal year, a record high. Average starting salaries vary by discipline, but the average starting salary for all 2021 graduates was around $60,000 a year. 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. Checked in 150 registered alumnae of the Class of 1969 into their guest rooms under . On June 30, 2021, the portfolios exposure to fossil fuels was 2.9%, down from 3.7% a year earlier. It should go to Donor Relations Development Services (DR/DS) to be processed. Wellesley Collegehas cross-registration and dual-degree programs with Massachusetts Institute of Technology, Olin College, and cross-registration with Brandeis Universityand Babson College. Errors are noted below: Thanks for reaching out. Andrea Quinn joined Wellesley College in May 2014 and serves as Operations Assistant. Staff | Wellesley College Investment Office Staff Rose Carpenter Deputy CIO Rose Carpenter joined Wellesley College in September 2009 and serves as Deputy CIO. The lavish spending was made possible by the earnings from Harvard's $36.9 billion endowment, the world's largest. 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. Choose your news we will deliver. The actual cost of attendance was well over $80,000 per student just a few years ago. 10. As of 2021, the total stood at $854.11 billion, with an average across all institutions of $1.1621 billion and median of $2.0102 million. This growth added $958 million to the endowment, bringing its value to $3.22 billion as of June 2021. Inflation rises, but spending remains unaffected. ", "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. Against this backdrop, venture and growth equity strategies delivered extraordinary returns. The Wellesley College endowment had a market value of $3.2 billion as of June 30, 2021. 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. These institutions are exclusively private. Watts said the college grew its endowment by about $45 million in the 2013 budget year and is working to cut spending. Your email address will not be published. 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. Student Affairs We are excited to welcome Annette Diorio, the next vice president for Student Affairs and Dean of Students. Wellesley Colleges endowment has provided approximately 40% of operating revenue in recent years. The college's endowment-spending policy attempts to address the need for a strong, stable, and growing income stream from the endowment to support operations and to address the . Leverage your professional network, and get hired. The SIR determines the Colleges proxy voting policy and votes proxy proposals not covered by the policy. [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. 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. Contact Alumnae Relations & Development 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. Wellesley Racial/Ethnic Breakdown of Undergraduates Wellesley College has a long history of providing an excellent liberal arts undergraduate education for women. Two faculty members are appointed to the Subcommittee by the Agenda Committee of Academic Council. Wellesley Undergraduate Population Male/Female Breakdown of Undergraduates The full-time Wellesley undergraduate population is made up of 100% women, and 0% men. Strong returns in fiscal year 2020-21 led the largest university endowments to soar. We're all Babson. 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. The endowment returned 8.8% for the fiscal year ended June 30, 2020. University of Notre Dame View Total Assets Endowment North America 12. Assisted in planning the annual Wellesley College Reunion and the arrival of 3,000 visiting persons onto campus. 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. All material subject to strictly enforced copyright laws. Wellesley 1,419,643 3,236,785 2,280 : Notre Dame 1,411,082 18,074,543 12,809 : Dartmouth . 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. After accounting for inflation, college prices are now dropping. Investment Director. Babson College is a world-class business school, empowering entrepreneurial leaders to create great economic and social value - everywhere. 2Long Term Alternatives are measured against the Cambridge Associates Private Equity, Growth Equity, Venture Capital, Distressed, Natural Resources and Real Estate indices. 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. Wellesley College strives to be a responsible investor. For the gender breakdown for all students, go here. The endowment's asset allocation as of June 30 was 66% alternatives, 26% equities, and 8% in fixed income and cash. The table below compares the Policy Portfolio and the actual asset allocation on June 30, 2021. This 46 percent increase reflects a year of broad endowment growth for colleges nationwide, though BC performed particularly well, with gains 19 percent above the median. 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. The College is still in a good position despite the challenging economic environment. [3] Wellesleys endowment is the keystone of the Colleges financial strength, providing approximately 40% percent of operating revenue in recent years. The Public Ivies, the Little Ivies, and many other non-Ivy schools can . 3Semi-marketable investments include strategies focused on absolute return. No affiliation or endorsement, express or implied, is provided by their use. Reshma Saujani leading activist and founder of Girls Who Code and Moms Firstwill deliver the address at Smith College's commencement ceremony on Sunday, May 21. Considerable resources are devoted by the College to responsible proxy voting. 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 . 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. 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. The 9.6% endowment decline, which brought the endowment's total value to $2.94 billion, came in sharp contrast to the record-breaking 46.5% returns the College enjoyed last fiscal year. 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. Tuition and fees (in-state) $56,052. In 2017, a federal endowment tax was enacted in the Tax Cuts and Jobs Act of 2017 in the form of an excise tax of 1.4% on institutions that have at least 500 tuition-paying students and net assets of at least $500,000 per student. 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. America's wealthiest colleges and universities saw their endowment returns take off in fiscal year 2021 after dismal average returns the year prior. The difference between the portfolio and the benchmark is a measure of the value added by the Investment Office and the Colleges investment managers. 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. 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. 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. 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. These included: IBM Corporation, State Street Boston Corporation, WGBH Broadcasting and . The Investment Office manages Wellesley College's $3.2 billion endowment. Wellesley Colleges endowment return fell by roughly $291 million in the 2022 fiscal year, the first year of negative return since 2017. 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. Only income from the endowment fund may be spent, ensuring the principal is preserved. The Policy Portfolio, established by the Wellesley College Investment Committee, guides asset allocation. ', AVP for Finance, Controller and Assistant Treasurer, Copyright Trustees of Wellesley College | Wellesley College 106 Central Street Wellesley, MA 02481 (781) 283-1000. KAUST Investment Management Company View Total Assets Endowment Middle East 13. As a result, the portfolio enjoys significant, mature exposure to venture and growth. 2008-2023 Sovereign Wealth Fund Institute. Investment Office staff also participate in the oversight of the Colleges defined contribution, defined benefit, and deferred compensation plans. Main Office Brick building in the campus of Wellesley 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. Despite a highly challenging investment environment, our endowment is at nearly $502 million. Endowment: General, 1985-1991 File Box: 77, Folder: 27 Citation Information Staff Only Wellesley College Archives; Records of the President's Office . A grant usually requires deliverables, financial reports, a time restriction and a budget. Investment performance drove the June 30, 2021 value of the pool to $3.226 billion, an increase of $958 million from the prior year. After such a financially challenging year, this is a remarkable result. The loss also . Because our endowment is relatively small, we must rely more than some of our peers on another primary source of revenue: annual giving. Matthew Veilleux rejoined Wellesley College in July 2019 as an Investment Director. Investment returns have consistently exceeded the Policy Portfolio benchmark. 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%. The College, established in 1870, has a student body of 2,200 undergraduates. 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. never heard of it. Over the long term, we have had top quartile investment returns, she said. Babson College is a private business school in Wellesley, Massachusetts. No commitments to such funds have been made since 2017. One staff member is appointed to the Subcommittee by the Nominating Committee of Administrative Council, and the Chief Investment Officer appoints one member of the Investment Office team. It has a total undergraduate enrollment of 2,461 (fall 2021), its setting is suburban, and the campus size is 500 acres. Tenth Floor Returns by asset class and long-term . 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. 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). Full Time position. Efforts by the ECON/ES 199 class at the College are the most recent attempt in pushing the institution . 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. The loss is not unexpected, according to Kuenstner. Lulu Garcia-Navarro, Peabody Award-winning journalist and New York Times Opinion podcast host. 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. 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. 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. 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. Lewis & Clark College is a private liberal arts college in Portland, Oregon.Originally chartered in 1867 as the Albany Collegiate Institute in Albany, Oregon, the college was relocated to Portland in 1938 and in 1942 adopted the name Lewis & Clark College after the Lewis and Clark Expedition.It has three campuses: an undergraduate College of Arts and Sciences, a School of Law, and a Graduate . 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. The loss also represents the second-worst annual investment return Wellesley College has seen in the last 20 years. It reviews and amends the proxy voting policy annually. 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. 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. 8, it trails behind nearly 200 academic institutions in doing so. Wellesley Collegehas an exchange program with Spelman College. Debby Kuenstner '80 is Wellesley's chief investment officer. 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. Opportunities for establishing endowed funds begin at $150,000. 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. 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. Debby Kuenstner joined Wellesley College as Chief Investment Officer in February 2009. Equity markets were buoyed by a turnaround in earnings, and real assets benefited from supply-demand imbalances as economies recovered. 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. Your email address will not be published. Donors receive annual reports on their endowed fund's performance. Listed on 2023-02-25. <p>Also think about the money the college puts into your education as well. 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. From time to time College community members may request that the Board invest endowment assets in a way that expresses specific social values. The Board is committed to investing in a manner consistent with the College's mission, values and principles. Sign up and get the best of News delivered straight to your email inbox, free of charge. Since 1875, Wellesley College has been a leader in . Amelia Larkin joined Wellesley College as an Investment Analyst in September 2021. 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. All Rights Reserved. Wellesley College is a private institution that was founded in 1870. The SIR evaluates these requests and may decide to recommend action to the Investment Committee. Listing for: Wellesley College. To consistently deliver news, research and analysis to the executives who manage the flow of funds in the institutional investment market. New Hauts-de-France, France jobs added daily. Flow of funds in the last 20 years made up of 100 % women, and cross-registration with Brandeis babson! Table below compares the policy Portfolio and the arrival of 3,000 visiting persons onto campus to the,! Podcast host that expresses specific social values receive annual reports on their endowed fund #! 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