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. Despite a highly challenging investment environment, our endowment is at nearly $502 million. Brick building in the campus of Wellesley College. The endowment will also fund the Colleges large-scale reconstruction project around academic and administrative buildings. Wellesleys endowment is the keystone of the Colleges financial strength, providing approximately 40% percent of operating revenue in recent years. SWFI is a minority-owned organization. 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. Indeed, Wellesley's recently approved 2008-2009 financial report puts a fine point on Bottomly's message, showing that the private college's endowment declined 17 percent from July 2008 . 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. We're all Babson. Leverage your professional network, and get hired. [3] Wellesley is frequently considered to be one of the best liberal arts colleges in the United States. All material subject to strictly enforced copyright laws. In a close-knit college, you can see clearly how your work impacts individuals and makes a positive difference to their learning experience. The tabulated data below are from NACUBO. Cost cutting . The loss is not unexpected, according to Kuenstner. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. 685 Third Avenue No new commitments to private equity oil and gas funds have been made since 2017. 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. 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. Debby Kuenstner joined Wellesley College as Chief Investment Officer in February 2009. 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. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. Investment performance drove the June 30, 2021 value of the pool to $3.226 billion, an increase of $958 million from the prior year. On June 30, 2021, the portfolios exposure to fossil fuels was 2.9%, down from 3.7% a year earlier. Additional gifts will result in increased income. The actual cost of attendance was well over $80,000 per student just a few years ago. Its endowment is now valued at $2.72 billion. The school's 500-acre campus in Wellesley, Massachusetts features a gorgeous landscape that provides a tranquil learning environment. 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. 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. Investment Office staff also participate in the oversight of the Colleges defined contribution, defined benefit, and deferred compensation plans. Wellesley College has a long history of providing an excellent liberal arts undergraduate education for women. 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. 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. 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. About Us We're all different. Work at the Investment Office centers on selecting and monitoring investment . All Rights Reserved. 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. . Investment returns have consistently exceeded the Policy Portfolio benchmark. It was a women-only institution at a time when women were generally denied access to higher education. 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. It is currently 5 percent of the endowment's value averaged over 12 quarters. 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. (65K+ tuition WOW!!! The total cost of attendance includes tuition and fees, books and supplies, and living expenses, as reported for the 2019-2020 school year. I guess it is to be expected because it is a very niche school so the people who do apply are very niche. 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. The college carefully invests gifts to the endowment, with an eye towards strong financial returns via investments that meet Wellesleys high ethical standards. Support a healthy tomorrow with your gift today. With the launch the Wellesley Effect campaign in October, Wellesley College has been on the receiving end of several large donations, many of which will become a part of the College's growing endowment. Wellesley College's endowment return fell by roughly $291 million in the 2022 fiscal year, the first year of negative return since 2017. 6A commonly used measure of portfolio performance is a comparison with a passive portfolio. 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. Wellesley College is a Endowment located in Wellesley, MA United States, North America. 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. 8, it trails behind nearly 200 academic institutions in doing so. The College is still in a good position despite the challenging economic environment. Emory University View Total Assets Endowment North . 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. 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. She begins her new role at Union on Jan. 2, 2023. Main Office Mailing address:Wellesley CollegeController's Office106 Central St., GRH139Wellesley, MA 02481-8203, Higher Education Emergency Relief Fund (HEERF). [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. Lulu Garcia-Navarro, Peabody Award-winning journalist and New York Times Opinion podcast host. About 54% of Grinnell's annual operating revenue comes from the endowment. In 2006, we hired Collette Chilton to the new position of Chief Investment Officer. The Board in April voted to take $125 million out of the endowment for urgent repairs, Kuenster reported. As of June 30, 2022, the endowment's market value was $2.7 billion. The loss also . Matthew Veilleux rejoined Wellesley College in July 2019 as an Investment Director. 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. 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. Babson College is a private business school in Wellesley, Massachusetts. The Public Ivies also report smaller endowments than the Ivies and these endowments must stretch further because of their larger student bodies. Job specializations: Finance. 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. Debby Kuenstner '80 is Wellesley's chief investment officer. The Wellesley College Board of Trustees is responsible for the investment of the College's Endowment. 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. 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. As an endowment donor, you choose where to direct your gift, in consultation with the College. 130 E. Randolph St. Tuition and fees (in-state) $56,052. 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. bookstore, conference services, golf course, etc.). 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. W student here, there's a lot to be said about the culture of people at Wellesley. Today's 38,000+ jobs in Hauts-de-France, France. In the last three years, the cost of attendance and average net price at public and private four-year institutions have actually . 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? Linda Liang joined Wellesley College in September 2022 and serves as Investment Operations Director. 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