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Post by Pakachoag Phreek on Oct 15, 2018 7:00:50 GMT -5
The current issue of Holy Cross magazine contains several highly summarized financial statistics for fiscal 2018, which ended June 30.
Using long-term investments as a proxy for endowment value, the endowment grew by about five percent, to $791 million. The larger universities that have reported are generally showing increases in endowment value of 10-15 percent.
Until an audited financial report is released, we won't know what the return on investments was.
The value of net assets crossed the billion dollar threshold for the first time, reaching $1,027 million. Five years ago, net assets were valued at $734 million. Net assets includes the endowment, but would also include contributions for capital facilities.
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Post by sader1970 on Oct 15, 2018 7:52:46 GMT -5
Underwhelming? Last time I looked at the federal non-profit report for HC, the highest paid employee was the guy that runs the investments. Believe he also got a bonus too. But those are a couple of years off and I think I checked 6 months- a year ago so maybe we did significantly better in that time frame.
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Post by Pakachoag Phreek on Nov 14, 2018 11:09:30 GMT -5
HC's net return on endowment investments in 2018 was $54M, a decline of 36 percent from 2017's net return.
Bucknell's net return declined by 30 percent, BC's declined by 13 percent. Bowdoin's net return grew by 39%. (Bowdoin has Druckenmiller advising it.)
The end of fiscal year value of HC's endowment grew by $34 million or 4.5 percent. Bowdoin's grew by $182 million or 12.5 percent. Bucknell's increased by $50 million, or 6.2 percent. (The net gain of $34 million was less than the investment gain because some of the investment returns were used to operate the college.)
With widespread predictions of slowing economic growth in 2019, and flat or nearly so economic growth in 2020, fiscal 2018 was probably the last year to catch the boat on garnering great investment returns and bolstering the endowment's value over the near-term.
This is admittedly an oversimplified calculation, but Bowdoin's $182 million would yield about $8 million in additional monies for Bowdoin to spend on operating the college; HC's $34 million would yield about $1.5 million. The end result: no money in the coffers to pay for the men to jump to HE.
So it goes.
(No financial statements yet available for Lafayette or Colgate.)
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Post by Wormtown Railers Fan on Nov 14, 2018 14:24:16 GMT -5
HC's net return on endowment investments in 2018 was $54M, a decline of 36 percent from 2017's net return. Bucknell's net return declined by 30 percent, BC's declined by 13 percent. Bowdoin's net return grew by 39%. (Bowdoin has Druckenmiller advising it.) The end of fiscal year value of HC's endowment grew by $34 million or 4.5 percent. Bowdoin's grew by $182 million or 12.5 percent. Bucknell's increased by $50 million, or 6.2 percent. (The net gain of $34 million was less than the investment gain because some of the investment returns were used to operate the college.) With widespread predictions of slowing economic growth in 2019, and flat or nearly so economic growth in 2020, fiscal 2018 was probably the last year to catch the boat on garnering great investment returns and bolstering the endowment's value over the near-term. This is admittedly an oversimplified calculation, but Bowdoin's $182 million would yield about $8 million in additional monies for Bowdoin to spend on operating the college; HC's $34 million would yield about $1.5 million. The end result: no money in the coffers to pay for the men to jump to HE. So it goes. (No financial statements yet available for Lafayette or Colgate.) Am I missing something? I thought the obstacle to joining the Hockey East was Cliff Rucker and the Railers, not the financial performance of the endowment.
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Post by Pakachoag Phreek on Nov 14, 2018 15:53:17 GMT -5
HC's net return on endowment investments in 2018 was $54M, a decline of 36 percent from 2017's net return. Bucknell's net return declined by 30 percent, BC's declined by 13 percent. Bowdoin's net return grew by 39%. (Bowdoin has Druckenmiller advising it.) The end of fiscal year value of HC's endowment grew by $34 million or 4.5 percent. Bowdoin's grew by $182 million or 12.5 percent. Bucknell's increased by $50 million, or 6.2 percent. (The net gain of $34 million was less than the investment gain because some of the investment returns were used to operate the college.) With widespread predictions of slowing economic growth in 2019, and flat or nearly so economic growth in 2020, fiscal 2018 was probably the last year to catch the boat on garnering great investment returns and bolstering the endowment's value over the near-term. This is admittedly an oversimplified calculation, but Bowdoin's $182 million would yield about $8 million in additional monies for Bowdoin to spend on operating the college; HC's $34 million would yield about $1.5 million. The end result: no money in the coffers to pay for the men to jump to HE. So it goes. (No financial statements yet available for Lafayette or Colgate.) Am I missing something? I thought the obstacle to joining the Hockey East was Cliff Rucker and the Railers, not the financial performance of the endowment. Who or what do you think will pay the additional cost of the men being in HE? Expenses M/W hockey 2016-17, $ in millionsBC 4.1 / 1.9 BU 3.4 / 2.2 HC 1.7 / 0.6 Northeastern 2.9 / 2.0 Notre Dame 5.0 / 0 Providence 3.4 / 2.0 The additional costs to HC for the women joining HE is probably not as high as indicated, as there were no merit scollies for the women last year. However, some women, like Georgetown's football players, were undoubtedly receiving need-based aid. but that aid would not be recorded in the team expense totals. (A legacy from days of playing in a lower division.) For the men, the additional cost is probably about $1.5 million. (And none of the other five listed teams play off-campus and thus have no venue rental costs.) Notre Dame lost about $3 million playing in HE last year, all the other schools lost money as well. Women's ice hockey, there is no meaningful revenue recoupment for the expense. In essence, both men's and women's ice hockey in HE would cost HC about $5.0 million, with very little offsetting revenue. At the mandated 4.5 percent annual distribution of endowment value for operating expenses of the college, it would take $110 million of endowment to underwrite fully the expense of HE membership;. about $60 million of endowment value to underwrite just the added cost. HC's endowment has underperformed its peers for years, the cumulative consequences of that is that it crimps spending for new initiatives, particularly where the ongoing costs are high.
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Post by KY Crusader 75 on Nov 14, 2018 16:10:38 GMT -5
Get rid of all but one of the managers and put all the $$$ in index funds
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Post by Pakachoag Phreek on Nov 14, 2018 16:43:57 GMT -5
Get rid of all but one of the managers and put all the $$$ in index funds Your annual advice, which they have annually ignored..
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Post by Wormtown Railers Fan on Nov 14, 2018 17:08:32 GMT -5
Am I missing something? I thought the obstacle to joining the Hockey East was Cliff Rucker and the Railers, not the financial performance of the endowment. Who or what do you think will pay the additional cost of the men being in HE? Expenses M/W hockey 2016-17, $ in millionsBC 4.1 / 1.9 BU 3.4 / 2.2 HC 1.7 / 0.6 Northeastern 2.9 / 2.0 Notre Dame 5.0 / 0 Providence 3.4 / 2.0 The additional costs to HC for the women joining HE is probably not as high as indicated, as there were no merit scollies for the women last year. However, some women, like Georgetown's football players, were undoubtedly receiving need-based aid. but that aid would not be recorded in the team expense totals. (A legacy from days of playing in a lower division.) For the men, the additional cost is probably about $1.5 million. (And none of the other five listed teams play off-campus and thus have no venue rental costs.) Notre Dame lost about $3 million playing in HE last year, all the other schools lost money as well. Women's ice hockey, there is no meaningful revenue recoupment for the expense. In essence, both men's and women's ice hockey in HE would cost HC about $5.0 million, with very little offsetting revenue. At the mandated 4.5 percent annual distribution of endowment value for operating expenses of the college, it would take $110 million of endowment to underwrite fully the expense of HE membership;. about $60 million of endowment value to underwrite just the added cost. HC's endowment has underperformed its peers for years, the cumulative consequences of that is that it crimps spending for new initiatives, particularly where the ongoing costs are high. I guess I’m asking you, are you making an assumption or do you have inside information? You seem adamant that men’s hockey joining the HE is dead. Do you know something we don’t?
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Post by Pakachoag Phreek on Nov 14, 2018 21:55:34 GMT -5
Who or what do you think will pay the additional cost of the men being in HE? Expenses M/W hockey 2016-17, $ in millionsBC 4.1 / 1.9 BU 3.4 / 2.2 HC 1.7 / 0.6 Northeastern 2.9 / 2.0 Notre Dame 5.0 / 0 Providence 3.4 / 2.0 I guess I’m asking you, are you making an assumption or do you have inside information? You seem adamant that men’s hockey joining the HE is dead. Do you know something we don’t? I have no particular inside information. The college is in the middle of a big capital campaign, yet donor contributions to the endowment totaled about $17 million for the two fiscal years between July 2016 and June 2018. That amount ain't going to grow the endowment. And in those same two fiscal years, HC distributed $57 million in endowment monies to help pay for the operations of the college. HC relies greatly on investment returns to both increase the value of the endowment and pay most of the monies distributed for operations of the college. And when the investment returns turn south......? On July 1, 2007, the value of the endowment was $649 million. On the old board there was chatter about how long it would take to reach $1 billion. Two years later, the endowment value had plummeted to $492 million. Now nine years after that bottoming out, the endowment value is at $783 million. But this is only $132 million more than it was in 2007. In the world of college finance, that is underperforming. And that has consequences, ----dreams and hopes are dashed. And it is reasonable to assume a slowing economy will slow endowment growth in the near-term, which is bad news for the endowment.. The so-called 'sugar high' from the tax cuts is already receding, and despite the promises of tax cut supporters, the corporate tax cut has led more to stock buybacks rather than capital investment, and there's been very limited real growth in employee compensation. If the increased cost to HC from the men joining HE is $1.7 million, and the endowment can't pay for it, then HC can charge each of the 3000 HC students about $550 apiece in increased tuition and fees to pay for it..
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Post by A Clock Tower Purple on Nov 14, 2018 23:00:38 GMT -5
HC's net return on endowment investments in 2018 was $54M, a decline of 36 percent from 2017's net return. Bucknell's net return declined by 30 percent, BC's declined by 13 percent. Bowdoin's net return grew by 39%. (Bowdoin has Druckenmiller advising it.) The end of fiscal year value of HC's endowment grew by $34 million or 4.5 percent. Bowdoin's grew by $182 million or 12.5 percent. Bucknell's increased by $50 million, or 6.2 percent. (The net gain of $34 million was less than the investment gain because some of the investment returns were used to operate the college.) With widespread predictions of slowing economic growth in 2019, and flat or nearly so economic growth in 2020, fiscal 2018 was probably the last year to catch the boat on garnering great investment returns and bolstering the endowment's value over the near-term. This is admittedly an oversimplified calculation, but Bowdoin's $182 million would yield about $8 million in additional monies for Bowdoin to spend on operating the college; HC's $34 million would yield about $1.5 million. The end result: no money in the coffers to pay for the men to jump to HE.
So it goes. (No financial statements yet available for Lafayette or Colgate.) Wrong.
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Post by bringbackcaro on Nov 15, 2018 13:18:32 GMT -5
We have a better chance of getting struck by lightning and winning the lottery in the same day than we do of competing in the Hockey East any time soon.
It would be a total waste of money to join the Hockey East right now given how far the hockey program has fallen, and how little was invested in hockey during our recent $100M investment. We can't even win a game in the Atlantic Hockey playoffs right now.
If there's money hanging around, spend it on MBB or Football.
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Post by alum on Nov 15, 2018 15:01:21 GMT -5
We have a better chance of getting struck by lightning and winning the lottery in the same day than we do of competing in the Hockey East any time soon. It would be a total waste of money to join the Hockey East right now given how far the hockey program has fallen, and how little was invested in hockey during our recent $100M investment. We can't even win a game in the Atlantic Hockey playoffs right now. If there's money hanging around, spend it on MBB or Football.I wonder how much more we can spend on men's basketball or football. We have a full complement of scholarships and new practice facilities for both teams. Really the only place to spend more money would be on coaching salaries which might not be a horrible idea. Does anyone have an idea about how our salaries, including for assistants, compare to FCS/mid major schools? Another place to spend extra money would be on improved financial aid for the student body as a whole.
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Post by Pakachoag Phreek on Nov 15, 2018 16:10:59 GMT -5
We have a better chance of getting struck by lightning and winning the lottery in the same day than we do of competing in the Hockey East any time soon. It would be a total waste of money to join the Hockey East right now given how far the hockey program has fallen, and how little was invested in hockey during our recent $100M investment. We can't even win a game in the Atlantic Hockey playoffs right now. If there's money hanging around, spend it on MBB or Football...... Does anyone have an idea about how our salaries, including for assistants, compare to FCS/mid major schools? Average Institutional Salary per Head Coach of men's teams
# of men's teams / average salary per head coach of men's teams in thousands of $ Bucknell 11 / 98 Colgate 10 / 134 HC 11 / 125 W&M 10 / 140 Elon 7 / 154 Fordham 10 / 204 GWU 10 / 105 Lafayette 9 / 117 Lehigh 11 / 121 Loyola 8 / 98 Northeastern 6 / 193 Richmond 7 / 300 St Joe's 8 / 178 Stony Brook 7 / 193 SUNY Albany 8 / 132 Townson 6 / 172 UNH 6 / 200 Cost of living is a factor in coaches salaries for several schools; Lewisburg is a lot cheaper than da Bronx. Hockey coaches salaries are often equal to FCS football coaches salaries. A dataset of assistant coaches salaries takes too much time to create, as this is pro bono labor..
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