Endowment Numbers Are Out

[Lehigh Football Nation]

http://www.nacubo.org/documents/about/FY05NESInstitutionsbyTotalAssets.pdf

The endowment surveys are out, and we have 4 I-AAs in the Top 10. Not surprisingly, they are all Ivies:

#1 Harvard
#2 Yale
#4 Princeton
#8 Columbia

I'll leave you to look at the numbers. There are some interesting ones though:

Other I-AA's with endowments over $1 billion:

Penn #12
Cornell #17
Dartmouth #22
Richmond #42
Delaware #51

The next 10:

Lehigh #66
Georgetown #78
Lafayette #91
Northeastern #96
Colgate #108
Bucknell #117
Holy Cross #118
William & Mary #127
Furman #129
Howard #136

The bottom 10:
Cal Poly #739
Southern Illinois #707
Norfolk St. #700
Rhode Island #694
Robert Morris #670
Albany #668
St Francis (PA) #667
Towson #655
Iona #641
Western Illinois #630

[MarkCCU]

I read that article on Yahoo!, $1billion endowments, that is insane, especially Olin in Mass where they pay full tuition for their students

[grizband]

I read that article on Yahoo!, $1billion endowments, that is insane, especially Olin in Mass where they pay full tuition for their students
Part of me thinks that $1 billion endowment is the way they pay full tuition for their students.

[Cocky]

I didn't see us listed but our 2004 Total Assets are 30,981,812 or Net Assets are 28,876,398. Not sure how they are listed. I don't have the 2005 numbers. These numbers would put us between 580-590 in 2005 or 550-580 in 2004 numbers.

It may take us a couple of years to catch Harvard.

[65 Pard]

If someone could use this data and transform it to endowment per student, the results would change dramatically.....

[Cocky]

Southern Ill has one at 411 also. This would take them out of the bottom 10.

[bostonspider]

Well I can't give you the other schools, but UR's is 430,000 or so per student.

[Cocky]

Bottom 10 1-A. Please correct my mistakes if I overlooked anyone. I have rounded off.

1. Troy State 17,542,000
2. Middle Tenn. 24,411,000
3. Ark. State 33,585,000
4. San Jose State 35,126,000
5. Eastern Michigan 38,239,000
6. Boise State 51,313,000
7. North Texas 57,850,000
8. Marshall 59,657,000
9. East Carolina 69,842,000
10. Florida International 74,396,000

[RadMann]

University endowments are generally viewed in two categories, namely, those intsitutions who receive significant state funds for educating students on one list or ranking as opposed to those purely private institutions that do not receive public funds. For the first category, Delaware is tops in I-AA and in the top 15 nationally with a similar endowment to Penn State and the University of Indiana system.

In other words, a purely private school needs to completely run off its endowment and tuition, whereas a partially publically funded institution runs off of the endowment income, tuition and a generally large state stipend. That's why the two categories are often broken out separately.

[colgate13]

If someone could use this data and transform it to endowment per student, the results would change dramatically.....

My thoughts exactly. Straight $$$ are impressive, but put them into the context of a per student basis and things become clearer. That is why Princeton is so impressive. They have more money per student than they can spend... and they still charge tuition!

Using that listing, Colgate ($508 mill) has an endowment of $181,666 per student. If you use 5% of your endowment to spend each year on a student, that means $9,083 goes towards the education of every Colgate student.

Lafayette is the healthiest in the PL at an endowment of ~$255K per student (I'm ballparking their enrollment).

The real kicker is Princeton, who by comparison has a per student endowment of $2,334,201. That's $116,710 PER YEAR PER STUDENT. Yes folks, there is absolutely ZERO reason for Princeton to charge tuition... but they do at the rate of over $43,000 per year! Tell me again why they're a 'non-profit'????

Harvard and Yale's larger graduate student body as compared to Princeton's brings Princeton out ahead I believe, but they both are sitting pretty as well.

[Russ B]

http://www.nacubo.org/documents/about/FY05NESInstitutionsbyTotalAssets.pdf

The endowment surveys are out, and we have 4 I-AAs in the Top 10. Not surprisingly, they are all Ivies:

#1 Harvard
#2 Yale
#4 Princeton
#8 Columbia



Five in the top ten, sort of: "University of California" includes Davis. :)

[Pards Rule]

Colgate13, the simple answer on Princeton: because they can.

[Poly Pigskin]

If someone could use this data and transform it to endowment per student, the results would change dramatically.....

Poly is somewhere around a whopping $.17/student. I knew we got nothing, but god damn that is just pathetic.

[Pard4Life]

If someone could use this data and transform it to endowment per student, the results would change dramatically.....

Definetely, we'd be top 10. I'll trust colgate 13s math, $255,000 per student is outsanding. I don't remember our endowment figures but it should be around $700 million now. I'm thankful for all that good management. Helps to have the chairman of the Chicago Federal Reserve, the VP of th Bank of NY, and son a former Tresuary Secretary on your Board. :)

And who says Lehigh business majors are better? :rotateh:

[Pard4Life]

Colgate13, the simple answer on Princeton: because they can.

Several years ago, about 1999, 2000, Princeton and some other Ivies (Harvard Yale perhaps) converted the portion of tuition a student could not pay up front from financial aid, loans, etc. to all grant-aid. They stopped this policy after two years or so. No idea why since they can foot the bill... but then they'd be transformed into a somewhat 'socialist' institution and well.. that's against everyting they stand for.

[bobcatfan06]

Texas State is 530, but I noticed that University of Texas System is 4. Hmmm, I bet if some of those GD alumni that suck the teet of UT would give back to their own damn school, we would be a hell of a lot higher. GD Longhorns.

[UMclassof2002]

Can anyone tell me what percentage of Appalachian State's endowment was used to pay for this:

http://www.smithappens.com/video_appstate.php

[colgate13]

Several years ago, about 1999, 2000, Princeton and some other Ivies (Harvard Yale perhaps) converted the portion of tuition a student could not pay up front from financial aid, loans, etc. to all grant-aid. They stopped this policy after two years or so. No idea why since they can foot the bill... but then they'd be transformed into a somewhat 'socialist' institution and well.. that's against everyting they stand for.

No, they haven't stopped that policy. It's in full effect. Princeton is the only one doing it. Specifically, they do not give a loan to a student to meet need.

Harvard and Yale came on board for 'low income' students by dropping the loan for families with incomes less than ~$45K.

Princeton took it one step further and stopped counting home equity as an asset when determining financial need.

So essentially, they've put their aid on steroids and they still can't spend their money.

[colgate13]

Definetely, we'd be top 10. I'll trust colgate 13s math, $255,000 per student is outsanding. I don't remember our endowment figures but it should be around $700 million now. I'm thankful for all that good management. Helps to have the chairman of the Chicago Federal Reserve, the VP of th Bank of NY, and son a former Tresuary Secretary on your Board. :)

The figures given from NACUBO are for fiscal year end 2005, which for LC probably means May or June 2005. They list the endowment at $587 mill. That figure, divided by 2,300, is what I used. Ball park.

[Cocky]

We are somewhere from $3,000 to $3,500 per student (that is a SWAG).

[ngineer]

:D
My thoughts exactly. Straight $$$ are impressive, but put them into the context of a per student basis and things become clearer. That is why Princeton is so impressive. They have more money per student than they can spend... and they still charge tuition!

Using that listing, Colgate ($508 mill) has an endowment of $181,666 per student. If you use 5% of your endowment to spend each year on a student, that means $9,083 goes towards the education of every Colgate student.

Lafayette is the healthiest in the PL at an endowment of ~$255K per student (I'm ballparking their enrollment).

The real kicker is Princeton, who by comparison has a per student endowment of $2,334,201. That's $116,710 PER YEAR PER STUDENT. Yes folks, there is absolutely ZERO reason for Princeton to charge tuition... but they do at the rate of over $43,000 per year! Tell me again why they're a 'non-profit'????

Harvard and Yale's larger graduate student body as compared to Princeton's brings Princeton out ahead I believe, but they both are sitting pretty as well.

But they don't charge for their football programs! :D But good points on the per capita basis. Lehigh has been struggling to catch up over the years. 35 years ago we were behind Lafayette in raw numbers. The University's original investments in the ol' Lehigh Valley Railroad and related items, to say the least about Bethelehem Steel, hasn't helped. We're probably about 1/2 of Lafayette's per capita.

[ngineer]

Definetely, we'd be top 10. I'll trust colgate 13s math, $255,000 per student is outsanding. I don't remember our endowment figures but it should be around $700 million now. I'm thankful for all that good management. Helps to have the chairman of the Chicago Federal Reserve, the VP of th Bank of NY, and son a former Tresuary Secretary on your Board. :)

And who says Lehigh business majors are better? :rotateh:

Well, actually, you guys had a 40 year head start, but in addition to Lehigh's original portfolio going the way of the railroads, I'm surprised we're doing as well as we have. Over the past 40 years, the endowment has been extremely strong growth wherein it's raw numbers have surpassed LC's. As a freshman in 1970 I remember seeing LC's endowment as being 50% larger. Regardless, when you think about the money being discussed here and the amounts of tuition being charged, it seems somewhat obscene.

[Pard4Life]

The figures given from NACUBO are for fiscal year end 2005, which for LC probably means May or June 2005. They list the endowment at $587 mill. That figure, divided by 2,300, is what I used. Ball park.

Right again, just got alumni news today.. market endowment value is $587,418,300... total endowment is $633,413,000.

Also read we have a BOT member who is president of ExxonMobil supply and refining... get the pumps flowing.. lower prices!

Did not know Princeton still continued that program. I know somebody stopped it, perhaps Yale.

[Pard4Life]

Well, actually, you guys had a 40 year head start, but in addition to Lehigh's original portfolio going the way of the railroads, I'm surprised we're doing as well as we have. Over the past 40 years, the endowment has been extremely strong growth wherein it's raw numbers have surpassed LC's. As a freshman in 1970 I remember seeing LC's endowment as being 50% larger. Regardless, when you think about the money being discussed here and the amounts of tuition being charged, it seems somewhat obscene.

And I surely hope you are not invested in Ford right now.. I am no market wiz but you can't ignore that news. Doesn't Lehigh have strong connections with them?

[crunifan]

DAMN, Grinnell College in Iowa is #35...that really shocks me. I had no idea they were that rich.

[ngineer]

And I surely hope you are not invested in Ford right now.. I am no market wiz but you can't ignore that news. Doesn't Lehigh have strong connections with them?

Not that I'm aware of. Lehigh had a lot of publicity back in the 1960s and 1970s regrading Lee Iaccoca-"Father of the Mustang" (Class of 1945), but I don't think that translated into being 'heavy' into Ford stock. Similarly, Iaccoca went over to Chysler years ago, but I don't think that effects their investment philosophy.

[Brad82]

Interesting. Rhode Island always uses this excuse. But ,don't S.Illinois,W.Illinois, and Towson-have good to great teams annually?

[Ken_Z]

hey 'gate 13,

isn't Colgate in the midst of or about to begin a capital campaign (seems you were in the quiet phase a year ago). if so, what are the targets: overall and for endowment? any other specific initatives being funded?

i expect Bucknell will kick off quiet phase next year following completion of the strategic plan. i would guess we will be targeting total endowment near the $1B mark in about 6 or 7 years. also hoping we will be earmarking endowment funds for more athletic and academic merit scholarships.

[colgate13]

hey 'gate 13,

isn't Colgate in the midst of or about to begin a capital campaign (seems you were in the quiet phase a year ago). if so, what are the targets: overall and for endowment? any other specific initatives being funded?

i expect Bucknell will kick off quiet phase next year following completion of the strategic plan. i would guess we will be targeting total endowment near the $1B mark in about 6 or 7 years. also hoping we will be earmarking endowment funds for more athletic and academic merit scholarships.

Hey Ken! Nice to see a Bison other than the NDSU kind around AGS again. :)

We're in the 'quiet' phase that is not so quiet anymore! The endowment is now north of $500 million and the goal is much like BU's: the magic Billion Dollar Club. I believe we've raised about $80 mill so far...

I'd expect the public phase to begin end of year/reunion time. Some of the big early splashes have been buildings (new library and huge new science center. There are some live webcams and drawings here (http://www.colgate.edu/DesktopDefault1.aspx?tabid=2045&pgID=9931)). Aid will be a big part of this one too. I also think there might be some surprises up some sleeves (like a new hockey arena) but only time will tell.

The main driving vision though is "The Colgate Plan (http://www.colgate.edu/DesktopDefault1.aspx?tabid=978&pgID=1100)". It's basically the campaign wishlist and direction that Colgate is trying to head in. It's a long read, but I love this statement:

"Without changing who we are — rather, by embracing our traditions and our strengths — Colgate is being recognized for the excellence of its academics, its forward-thinking approach to residential education, its competitive athletics, and its developing arts programs."

Finally - FINALLY, those in charge (or those put in charge ;))have decided that it's not about what Colgate isn't but rather what Colgate is. No more chasing Williams, Middlebury, Dartmouth, etc. It's about Colgate being special in its own right. It's been resonating very well with the community - and selfishly, it is a very friendly attitude towards Division I athletics and part of the move to scholarships in other sports.

If BU follows the same model CU has, it sounds like athletic scholarships in other sports will be the next step. Good luck!

[Pard4Life]

hey 'gate 13,

isn't Colgate in the midst of or about to begin a capital campaign (seems you were in the quiet phase a year ago). if so, what are the targets: overall and for endowment? any other specific initatives being funded?

i expect Bucknell will kick off quiet phase next year following completion of the strategic plan. i would guess we will be targeting total endowment near the $1B mark in about 6 or 7 years. also hoping we will be earmarking endowment funds for more athletic and academic merit scholarships.

So there are Bucknell people out there after all.

Lafayette's endowment is $633 million. What is Bucknell's? I'd say getting to a billion in six or seven years is extremely ambitious. But then again I don't know much about ecnomoics.

Lafayette supposedly is going to be launching a capital campaign soon. Weiss was a solid fundraiser in other capacities. However, he needs to approve athletic scholarships in order to get the ball rolling. We already have a semi-major donation program going. For young alum, the former BOT head is going to donate half of what each young alum pays over four years, and then in the 5th year of donation, double what the alum donated that year. Don't know how much that will net. But our last capital drive netted $213 million in about 3 years.

[colgate13]

So there are Bucknell people out there after all.



Slow basketball week. xlolx

[Pard4Life]

Slow basketball week. xlolx

Yeah, slow week because they are getting ready to play us... yeesh..

Seriously.... read their boards and you'd think that's the only sport they sponsor over there.

I can't wait until Fran gets schollies and we punish Bucknell and the rest of the league... ah return to normalcy.

[Ken_Z]

So there are Bucknell people out there after all.

Lafayette's endowment is $633 million. What is Bucknell's? I'd say getting to a billion in six or seven years is extremely ambitious. But then again I don't know much about ecnomoics.



yes we exist. i have always been more about bball and lax than football, but would of course like to see the team become competitive again. unfortunately for now, about all i have to talk about on these boards are issues such as endowment, strategic initiatives, athletic policy and commitment, etc.

last published endowment number was just a bit south of $500 ($479 is the number that comes to mind, but my mind isn't what it used to be). i agree that makes $1B ambitious, but the number has been put out there as a potential goal at least once in writing and on another occassion by President Mitchell in an informal talk to alumni. i am sure that ultimately an achievable goal will be selected whether that gets us there or not.

13, i am very impressed with both our new president and yours, and am also optimistic about Weiss at Lafayette. i think we have a more visionary and modern group of leaders in the PL and there are great things to come for our schools.

a recent letter from President Mitchell to those of us who attended the Cable Car Classic in California and the Duke game (more of that basketball talk) spoke of the benefit being derived by doing athletics both the right way and doing it well. i believe that athletics will play a role in the future branding of Bucknell.

[Ken_Z]

I can't wait until Fran gets schollies and we punish Bucknell and the rest of the league... ah return to normalcy.

i'm rooting for you on scholarships, but gotta say i am glad we got a head start. you'll challenge for the top within a few years after you join the rest of the non-Ivy world.

[colgate13]

13, i am very impressed with both our new president and yours, and am also optimistic about Weiss at Lafayette. i think we have a more visionary and modern group of leaders in the PL and there are great things to come for our schools.

IMO Chopp, Mitchell and Weiss are the future of the PL. This threesome will move the athletic group forward towards bigger and better. Watch and enjoy!

[Husky Alum]

last published endowment number was just a bit south of $500 ($479 is the number that comes to mind, but my mind isn't what it used to be). i agree that makes $1B ambitious, but the number has been put out there as a potential goal at least once in writing and on another occassion by President Mitchell in an informal talk to alumni.

If you add nothing to the endowment, and earn a 9% annual return (the average on the stock market for the past 60 years or so), you'll be at a billion in about 8 years by doing nothing but managing your endowment, so it's highly doable (remember the rule of 72).

[colgate13]

If you add nothing to the endowment, and earn a 9% annual return (the average on the stock market for the past 60 years or so), you'll be at a billion in about 8 years by doing nothing but managing your endowment, so it's highly doable (remember the rule of 72).

Nice in theory, but I'm sure BU is taking about 5% if not slightly more of that average of 9% and using it to run their University! Given that, it's probably more like 15-20 by doing nothing. I think BU wants that # in more like 5-10!

[Ken_Z]

Nice in theory, but I'm sure BU is taking about 5% if not slightly more of that average of 9% and using it to run their University! Given that, it's probably more like 15-20 by doing nothing. I think BU wants that # in more like 5-10!

policy calls for 4.5% of three year average market value for the annual spend. i figure 3% to 4% average annual excess return is a reasonable estimate, but obviously wide swings over a relatively short horizon can occur.

i would say $600 to $650 would be a reasonable investment growth only target. the high end would leave $350 for new endowment to reach $1B. this would seem to be potentially feasible fund goal, but would leave little room for funding other capital needs. that is based solely on the last campaing results and my uninformed guess on how much that might increase this time around. now if someone wants to step up with $100M for his alma mater like he did for another school...

[colgate13]

this would seem to be potentially feasible fund goal, but would leave little room for funding other capital needs. that is based solely on the last campaing results and my uninformed guess on how much that might increase this time around. now if someone wants to step up with $100M for his alma mater like he did for another school...

What's Bucknell's borrowing look like? I know that a large portion of the library was funded with low interest bonds when rates were rock bottom.

And yes - $100 million anonymous to Hopkins! Unbelieveable! Use that to go I-AA and PL! :)

[Pard4Life]

What's Bucknell's borrowing look like? I know that a large portion of the library was funded with low interest bonds when rates were rock bottom.

And yes - $100 million anonymous to Hopkins! Unbelieveable! Use that to go I-AA and PL! :)

I sincerely hope Weiss played a role in that endeavor. For those of you who don't know, Weiss was Hopkins' former Dean of the Arts and Sciences school and has a solid fundraising history. I hope he is skillful enough to get some big donors, since we do have some prominent corporate executives out there.

I think Weiss will come towards the light and join Bucknell and Colgate in a PL strategic mission in ALL areas.. i.e. academics, athletics. I agree with the above statements, he is of a new, younger generation that is well aware of our rightful place.. PL, not Ivy or anywhere else. He seems to be quite a friend of athletics so far. He was at nearly all of the home football games, and even stood on the sidelines nearly all the time (I guess those wood bleachers forced him down there). The only other president I've heard of do that was Chopp. Plus, I heard Weiss played some QB in HS... so that definetely helps. And he is a family man.. two kids.. IMO, that means he is a 'normal person' and not some pedestal personality.. i.e. you know who.

Despite some of the chatter on the Lafayette board of everyone acting bombastic towards the slow pace of getting atheltic scholarships... it is so obvious that it is not going to happen in one swoop. We all know the conclusion is going to be yes, and if you read Weiss carefully he leans that way. Going yes right away will isolate too many of the old guard. No matter how much many of don't like them or agree with them.. we do need them to run the school. You can't isolate the faculty.. you need them for academic initiatives. If you isolate them, they reject and fight you for no reason other than not liking you. Plus, a study makes it seem more like an official, academic process rather than just 'oh this is what I think.. boom approved'. We need to legitimize it to the faculty. However, I do wish he put some students and athletics' people on board the committee.

All in all, I trust Weiss in what he is doing and he has the potential to be one of our best presidents ever.

[Marcus Garvey]

I read that article on Yahoo!, $1billion endowments, that is insane, especially Olin in Mass where they pay full tuition for their students
I'm assuming the college is setup by the "Olin Foundation," which gives money to projects on colleges nation-wide. Just as Andrew Carnegie's philanthropy resulted in dozens of "Carnegie Halls" on college campus at the turn of the 20th century, there are dozens of "Olin Halls" today!

Lehigh was originally tuition-free. Too bad those Lehigh Valley Railroad stocks ole' Asa Packer left the school didn't keep performing like blue chips!

Rice, was free for decades. They didn't start charging tuition until 1965. Of course their original charter stipulated that only white inhabitants of Texas were eligible. Ahhh... such enlightened times! Ironic that the the football teams' descent to awfullness coincided with the desegregation of the school.

[colgate13]

Just as Andrew Carnegie's philanthropy resulted in dozens of "Carnegie Halls" on college campus at the turn of the 20th century, there are dozens of "Olin Halls" today!

GUILTY!

http://www.colgate.edu/imagesWWW/1000/body_1700_07.jpg

[ngineer]

Interesting discussion. You may or may not know that Lehigh's president, Greg Farrington announced his retirement effective end of June. He will remain on campus teaching and doing some 'special projects'. The Board has already been well into their search for Farrington's replacement and who it will be will be interesting. Farrington, while not a 'jock' at heart (had never been to a football game while at Penn) became very much involved in Lehigh's athletic success and attended many games. His predecessor, Peter Likens, who happens to be retiring this June from U of Arizona, really was one of the leaders in gettng the PL started. He, himself, was an All-American wrestler at Stanford and understood the value of an excellent athletic program and it's integration with academics.

[Marcus Garvey]

GUILTY!

http://www.colgate.edu/imagesWWW/1000/body_1700_07.jpg

Alfred University has one too. It houses the buisness college:

http://www.alfred.edu/map/images/olin.gif

[RadMann]

UD has a parallel to Carnegie of their own. Delaware's high ranking in the endowment list is very strongly related to one family. The family was responsible for much of the campus buildings. Another branch of the family has been instrumental in the athletics program. This family's era of giving has past since the money is not held by the smaller number of folks as it was in the past, but the legacy continues. If you are familiar with the state of Delaware and its history, you know who this huguenot clan is... lol