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Post by alum on Oct 26, 2020 14:09:25 GMT -5
Princeton's endowment "earned a 5.6% investment gain for the fiscal year ended June 30, 2020." Interesting factoid from the release: "For the class of 2023, 100% of families making up to $180,000 per year qualified for financial aid. Aid extends above that income level, and students from families with incomes above $250,000 may qualify for some aid." That has to make the recruiting process easier for the Tiger coaches. The university has a $26.6B endowment. HC and our PL brethren have a lot of catching up to do. Princeton's endowment is over $3 million per student. It is about double that of Harvard for that metric. www.reachhighscholars.org/college_endowments.html
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Post by Pakachoag Phreek on Nov 4, 2020 16:56:03 GMT -5
Time to commit one of the deadly (cardinal) sins.
BC's endowment ROI was 7.7 percent (about $125 million) for the fiscal year ending May 2020. HC's ROI was essentially zero.
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Post by longsuffering on Nov 4, 2020 22:28:07 GMT -5
Time to commit one of the deadly (cardinal) sins. BC's endowment ROI was 7.7 percent (about $125 million) for the fiscal year ending May 2020. HC's ROI was essentially zero. Cardinal sin? Do you mean invade principal...or some other endowment no no?
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Post by KY Crusader 75 on Nov 5, 2020 0:01:17 GMT -5
no--mentioning bc in a favorable light
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Post by timholycross on Nov 6, 2020 10:20:03 GMT -5
Princeton's endowment "earned a 5.6% investment gain for the fiscal year ended June 30, 2020." Interesting factoid from the release: "For the class of 2023, 100% of families making up to $180,000 per year qualified for financial aid. Aid extends above that income level, and students from families with incomes above $250,000 may qualify for some aid." That has to make the recruiting process easier for the Tiger coaches. The university has a $26.6B endowment. HC and our PL brethren have a lot of catching up to do. It's why Fr. Brooks' bold experiment was doomed; over time the PL schools could never, ever match the Ivy packages.
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Post by Crucis#1 on Feb 13, 2021 10:30:30 GMT -5
Great news this morning regarding the HC endowment.
As of this morning the HC endowment has reached $910 million. We may now be closer to reaching the 1 billion threshold that has so often been discussed. This figure was stated by someone who is extremely knowledgeable about HC’s current financial state.
This is an outstanding development considering all the doom and gloom news that is often stated.
PP, are you aware of this most recent positive trajectory of the endowment?
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Post by newfieguy74 on Feb 13, 2021 11:14:04 GMT -5
Princeton's endowment "earned a 5.6% investment gain for the fiscal year ended June 30, 2020." Interesting factoid from the release: "For the class of 2023, 100% of families making up to $180,000 per year qualified for financial aid. Aid extends above that income level, and students from families with incomes above $250,000 may qualify for some aid." That has to make the recruiting process easier for the Tiger coaches. The university has a $26.6B endowment. HC and our PL brethren have a lot of catching up to do. It's why Fr. Brooks' bold experiment was doomed; over time the PL schools could never, ever match the Ivy packages. I don't care about the Ivy League endowments, which had had centuries of Yankee money to build on. For many years schools like HC were home to working class Catholics. I know that HC might be in some respects a different place today (we've had so many successful alums) but the only question is how well our own endowment is being managed. If we're at 910M I think that's great and there's good reason we can break the billion barrier in the near future.
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Post by Pakachoag Phreek on Feb 13, 2021 11:46:59 GMT -5
Great news this morning regarding the HC endowment. As of this morning the HC endowment has reached $910 million. We may now be closer to reaching the 1 billion threshold that has so often been discussed. This figure was stated by someone who is extremely knowledgeable about HC’s current financial state. This is an outstanding development considering all the doom and gloom news that is often stated. PP, are you aware up this most recent positive trajectory of the endowment? I suspect that the announcement was made at the HC alumni Assn. webinar that I was not part of. I was listening to another webinar and there was a hint of positive news about the endowment, but I dropped out of that webinar for the webinar with Marcus Blossom. I am not technically adept in my dotage to run two separate zooms on two separate screens on a synched system.
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Post by Crucis#1 on Feb 13, 2021 12:14:45 GMT -5
PP
Often I have been involved in multiple conference calls at work. Could always be a challenge depending upon the Agenda of the various meetings.
Now, with zoom, I used multiple mobile devices between the various platforms to try to participate in the meetings. Either it is keeping my brain sharp or driving me to distraction and insanity. My wife thinks it is the latter.
Anyway, it was great to hear the positive financial news this morning. Please let us know if the trend continues in an ascending direction.
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Post by crossbball13 on Feb 14, 2021 16:45:07 GMT -5
Good news gets zero attention on this forum.
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Post by WCHC Sports on Feb 15, 2021 11:49:27 GMT -5
Good news gets zero attention on this forum. "Endowment manager manages to grow endowment." Takes a bit of wind out of the sails when the headline is written that way.
Chris Rock has a fantastic segment in a comedy performance of yore, that folks of a certain ilk are always looking for credit for "stuff" that "they supposed to do." "I ain't neva been to jail!" "What do you want, a cookie?"
Growing it is certainly better than zero ROI, and absolutely better than a loss. Happy we have more in the coffers to help alma mater with no matter what. Glad that they're doing what they're paid to do like the rest of us.
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Post by crossbball13 on Feb 15, 2021 12:20:12 GMT -5
Good news gets zero attention on this forum. "Endowment manager manages to grow endowment." Takes a bit of wind out of the sails when the headline is written that way.
Chris Rock has a fantastic segment in a comedy performance of yore, that folks of a certain ilk are always looking for credit for "stuff" that "they supposed to do." "I ain't neva been to jail!" "What do you want, a cookie?"
Growing it is certainly better than zero ROI, and absolutely better than a loss. Happy we have more in the coffers to help alma mater with no matter what. Glad that they're doing what they're paid to do like the rest of us.
Forum commentary vs abc news headlines are a tad bit different
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Post by WCHC Sports on Feb 15, 2021 13:09:28 GMT -5
Either way, you're right in your earlier point.
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Post by alum on Feb 15, 2021 15:11:45 GMT -5
"Endowment manager manages to grow endowment." Takes a bit of wind out of the sails when the headline is written that way.
Chris Rock has a fantastic segment in a comedy performance of yore, that folks of a certain ilk are always looking for credit for "stuff" that "they supposed to do." "I ain't neva been to jail!" "What do you want, a cookie?"
Growing it is certainly better than zero ROI, and absolutely better than a loss. Happy we have more in the coffers to help alma mater with no matter what. Glad that they're doing what they're paid to do like the rest of us.
Forum commentary vs abc news headlines are a tad bit different My wife says this whenever we are invited to an 8th grade graduation party.
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Post by Pakachoag Phreek on Jun 3, 2021 13:01:57 GMT -5
My correlation coefficient for the endowment is the S&P 500 Index. If this metric is crudely accurate, then the value of the endowment today is $1.046 billion. Up nearly $300 million since June 30, 2020.
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Post by purplenurple on Jun 3, 2021 14:18:42 GMT -5
My correlation coefficient for the endowment is the S&P 500 Index. If this metric is crudely accurate, then the value of the endowment today is $1.046 billion. Up nearly $300 million since June 30, 2020. If so, hopefully that will improve our financial aid packages and drive renewed interest in the college from a wide range of prospective students.
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Post by Chu Chu on Jun 3, 2021 15:00:00 GMT -5
My correlation coefficient for the endowment is the S&P 500 Index. If this metric is crudely accurate, then the value of the endowment today is $1.046 billion. Up nearly $300 million since June 30, 2020. Phreek, I don't understand your comment. Haven't we consistently and always underperformed the S&P 500 Index?
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Post by Pakachoag Phreek on Jun 3, 2021 16:30:28 GMT -5
My correlation coefficient for the endowment is the S&P 500 Index. If this metric is crudely accurate, then the value of the endowment today is $1.046 billion. Up nearly $300 million since June 30, 2020. Phreek, I don't understand your comment. Haven't we consistently and always underperformed the S&P 500 Index? Yes, but on February 13, the college (I can't remember who, could have been the chair of the BoT) said the endowment value was $910 million. This person further explained that the increased value was due entirely to the equities market, and IIRC, he further noted this was not the result of a major change in investment strategy. This also presumably meant the Agnes Williams bequest was not included in the February value. $760M endowment value June 30 2020 S&P June 30 was 3053 $910M February 13th S&P Feb 13 was 3916 S&P June 3 at midday was 4202 or up 37.6% from June 30. (Closed at 4193.)
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Post by newfieguy74 on Jun 3, 2021 19:13:02 GMT -5
So this would be HC's first time reaching 1 billion?
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Post by Pakachoag Phreek on Jun 4, 2021 6:00:55 GMT -5
So this would be HC's first time reaching 1 billion? Yes. The endowment, overall, has underperformed for a decade or more. I have little doubt that if HC does very well this year, so too, will many other institutions.
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Post by newfieguy74 on Jun 4, 2021 11:34:33 GMT -5
It took too long to get to a billion, but it puts HC in a pretty good club. Continued strong growth is going to be needed, though, for the challenges ahead.
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Post by sader1970 on Jul 11, 2021 9:33:00 GMT -5
(bump)
So, for you financial wizards on the board, while I know how to find the highest paid HC employees (usually the basketball coach, sometimes the football coach, the AD, the Dean, and always the chief investment officer), where do you find the current or most recent endowment figure?
Was talking to a well connected classmate last night and while he didn't have specifics, he felt the endowment was way too low that we should be over $1 billion like our peers and wondered if Ms. Barlok should get the ax. My response was that I didn't think it was the incoming, which while dropped off, that seems to be the new normal with the pandemic and other reasons t almost every college. The incoming receipts is Tracy's responsibility, not the investment or outflows.
In my inexpert opinion, the lack of growth was more the lack of investment returns and the guy that oversaw that during the investment doldrums is now working at St. John's H.S.
So, Phreek (and others), what's the latest $$$$ on HC endowment?
On a total tangent, very happy to hear Ann McDermott retired. Probably 10 years too late but better late than never. Need new blood in Admissions. Who replaced her?
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Post by newfieguy74 on Jul 11, 2021 9:49:24 GMT -5
I am far from a finance guy, but to me it is a great disappointment that HC's endowment is not at about the 1.5B range. Other top colleges (IIRC Bowdoin is a good example) have had returns over the 10-20 years that far exceed HC's.I understand the concept of being a prudent steward of the endowment, but these other schools haven't accomplished what they have by playing the slots at Mohegan Sun. Financial resilience and strength is going to be critical in the years ahead with a dwindling applicant pool, growing criticism of the cost of a four year education, and other challenges. HC's timidity in managing its endowment may come back to bite it, but I hope not.
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Post by sader1970 on Jul 11, 2021 10:24:37 GMT -5
Interesting tidbit that of the officers, directors, trustees, key employees and highest compensated employees, they list the top 14 and many of them are gone now and the source is from the IRS-990 report from 7/1/2018 to 6/30/2019. From memory, there is a 2 year lag so the 2020 should be out soon but not yet.
I am not giving away confidential information as this is public record, when I post this. Those highlighted/in red, no longer with the College.
So, fiscal year 2018, highest base compensation:
Bill Carmody (basketball coach): $378,693 [total compensation: $453,051]
Tim Jarry (Chief Investment Officer): $338,780 [total compensation: $401,527]
Dorothy Hauver (VP & Treasurer): $313,767 [total compensation: $462,576]
Others of possible interest:
Nate Pine (Athletic Director): $277,984 [total compensation: $352,953]
Frank Vellaccio (SVP Emeritus): $292,039 [total compensation: $379,477]
Tracy Barlok (VP Advancement); $318,003 [total compensation: $421,483]
Daniel Kim (VP Communications): $206,537 [total compensation: $270,523]
Margaret Freije (Provost/Dean): $283,070 [total compensation: $398,273]
Note that the football coach is not among the highest paid employees. Of further note, while too lazy to look it up, the CIO in the prior year or two, total compensation was in excess of $600K.
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Post by sader1970 on Jul 11, 2021 10:32:24 GMT -5
Paid out:
Cannon Architects: $1,439,291 Sasaki (Architects): $249,631 Cambridge Assocs. (Investment Services): $585,000 Skanska (Construction Mgmt): $458,595
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