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Post by Pakachoag Phreek on Aug 30, 2021 20:34:39 GMT -5
He is now an Assistant Treasurer.
This may reflect a provision in the bylaws of the BoT, which seems to indicate that the BoT will make all investment decisions for the college.
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Post by longsuffering on Aug 30, 2021 21:48:26 GMT -5
Egads. No wonder our performance has been poor. Do they pull their own teeth, too?
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Post by Pakachoag Phreek on Aug 31, 2021 5:37:48 GMT -5
Egads. No wonder our performance has been poor. Do they pull their own teeth, too? One would have to read the annual amendments to the bylaws to know when the change was made. Given that the Chief Investment Officer was the highest paid employee of the college, the individual(s) who had that title presumably made some / most of the investment decisions. In any event, the college's endowment performance for the fiscal year ending June 30, 2021 parallels the median results for all college/university endowments with a value of $500 million or more. This is a great improvement. |
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Post by KY Crusader 75 on Aug 31, 2021 9:57:19 GMT -5
Do you have a final number for the June 30, 2021 endowment?
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Post by Pakachoag Phreek on Aug 31, 2021 11:14:28 GMT -5
Do you have a final number for the June 30, 2021 endowment? Nope. The number may be released in conjunction with the BoT meeting on Sept 9-10. I understand the auditors were reviewing the books last week. All I do know is that the number will bring smiles rather than frowns. The number was $913 million in mid-February, and the equities markets were up even further since then. |
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Post by Pakachoag Phreek on Aug 31, 2021 11:29:45 GMT -5
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Post by longsuffering on Aug 31, 2021 13:04:09 GMT -5
You build an endowment over 178 years and then it goes up by a third in one year. "What a country" as Yacov Smirnoff used to say.
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Post by matunuck on Aug 31, 2021 13:48:43 GMT -5
Do you have a final number for the June 30, 2021 endowment? Nope. The number may be released in conjunction with the BoT meeting on Sept 9-10. I understand the auditors were reviewing the books last week. All I do know is that the number will bring smiles rather than frowns. The number was $913 million in mid-February, and the equities markets were up even further since then. Auditors also reviewing the Class of 2025 stats since nothing has been updated in months? 😊 |
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Post by Pakachoag Phreek on Aug 31, 2021 17:20:02 GMT -5
Nope. The number may be released in conjunction with the BoT meeting on Sept 9-10. I understand the auditors were reviewing the books last week. All I do know is that the number will bring smiles rather than frowns. The number was $913 million in mid-February, and the equities markets were up even further since then. Auditors also reviewing the Class of 2025 stats since nothing has been updated in months? 😊 66 members of the class of 2025 were admitted as the class of 2024, but took a gap year. IIRC, this means that about 15 members of the class who took a gap year decided to enroll elsewhere. 1 of every 8 is a legacy. From 33 states and 26 international students. |
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Post by matunuck on Sept 29, 2021 19:07:23 GMT -5
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Post by princetoncrusader on Sept 30, 2021 9:21:21 GMT -5
Bowdoin College was 57.4% for FYE 6/30. HC up about 35% subject to finalizing a few marks on PE funds and endowment pass $1B, per a reliable source.
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Post by Pakachoag Phreek on Sept 30, 2021 14:38:13 GMT -5
Bowdoin College was 57.4% for FYE 6/30. HC up about 35% subject to finalizing a few marks on PE funds and endowment pass $1B, per a reliable source. Bowdoin likely helped by advice and tips of its wealthiest alum, Stan Druckenmiller, and a generous benefactor. Looked to see if any of his three children went to Bowdoin. Nope: Brown, Stanford, Columbia |
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Post by Pakachoag Phreek on Oct 6, 2021 6:10:21 GMT -5
The college has officially acknowledged that the endowment value is over $1 billion.
HC is currently ranked fifth among liberal arts college in percentage of alumni giving.
The top ten (USN&WR)
Williams* 47%
Amherst* 42%
Bowdoin* 42%
Carleton* 41%
HC* 41%
Wellesley* 40%
Davidson* 39%
Wabash 39%
Washington & Lee* 38%
Hamilton 37%
* Also in top 10 for 2020.
All ten schools' percentages are down between 3 and 5 percent from 2020. HC was at 44% in 2020. Williams was at 50% in 2020, Bowdoin at 47%, Amherst and Carleton at 45%
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Post by sader1970 on Oct 6, 2021 7:07:52 GMT -5
The days of the 50%+ alumni participation are gone. Perhaps the younger alums have been convinced from what they are taught that their charitable dollars are better spent in worthier causes. As the older alums die off, this participation ratio is heading only in one direction - down. As long as Holy Cross can find the elusive late Mrs. Williams' to take up the dollar slack, they'll probably be happy in the Development (oops, "Advancement") office.
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Post by alum on Oct 6, 2021 7:16:34 GMT -5
The days of the 50%+ alumni participation are gone. Perhaps the younger alums have been convinced from what they are taught that their charitable dollars are better spent in worthier causes. As the older alums die off, this participation ratio is heading only in one direction - down. As long as Holy Cross can find the elusive late Mrs. Williams' to take up the dollar slack, they'll probably be happy in the Development (oops, "Advancement") office. We know that one $1 million gift is the same as 5000 $200 gifts so the decline in participation rate isn't really all that important as to the current every day running of the college. On the other hand, if young alumni don't get in the habit of making HC a part of their charitable giving, it is much harder to move them to higher level giving as time goes on. For that reason, a drop off in annual fund giving should be aggressively addressed. I hope that if young alumni aren't giving to alma mater that they are making charitable contributions to other worthy causes. |
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Post by mm67 on Oct 6, 2021 9:21:45 GMT -5
Hard to figure. Too many years ago I was young. Came out of HC with a lot of dissatisfaction. Yet, there was also a lot of love. Took my late wife (Columbia grad) to HC. She read about the school. Heard my experiences.Met my HC friends, parties etc. She advised I should contribute to my "wonderful college" as my closeness & love of HC were palpable. She loved the school too & we attended many games at Fitton. ( Must admit she was pissed at, in her view, HC's run up 70+ score against Columbia. I did get a bit of the silent treatment on the drive home.) Bottom line I have contributed to HC for close to 50 years from my young adulthood to older age.
Today, HC seems to be so much better than in my day. The school offers so much more. To me it seems the sun has come out of hiding and now shines its light on this beautiful college. One would think most grads from the current era would be happy to contribute something to their school.
Maybe, the suffering my generation endured at the hands of unyielding, rigorous Jesuits; "rubbing shoulders" solely with the guys on that cold, windy, mostly dreary hill - all of this & more possibly motivated us to give to HC. Maybe surviving our " suffering" at HC generated a love of the school for some odd reason.
Are today's students suffering as we did?
Let's hope more young grads will be drawn to contribute to alma mater. Need to move that endowment ever higher to billions. Excelsior!
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Post by princetoncrusader on Oct 6, 2021 16:37:52 GMT -5
Could the drop off in giving by younger alumni reflect the fact that these young folks graduate with a significant amount of debt (~$25k I believe)? Then if one decides to go to law school or medical school, that figures moves to well over $200k?
Older alumni may still be p.o.'d about the de-emphasis of athletics (Big East decision) and more recent incidents like the dropping of the Crusader mascot and the writings of Prof. Ben Lieu of the Religious Studies department.
Would be interested to get more color on what is driving the drop off and is it unique to HC?
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Post by sader1970 on Oct 6, 2021 17:15:03 GMT -5
First, a large caveat: Holy Cross and other educational institutions do not in their alumni base count those alums who tell the school, they want no communication and to be removed from any solicitations. That and alums who have essentially disappeared from the face of the earth. Offsetting that somewhat is that they do count donors who are widows (widowers too I assume), when the wife of the deceased alum makes a donation. We have a number of those in the 1970 Class. So, if an alum is ticked off at the College because he (or she) doesn't like the loss of the Crusader; Benny Liew; school perceived as too religious or not religious enough or for any reason whatsoever and asks to be removed from the list, they not only are missing from the numerator but the denominator as well.
So for the most recent fiscal year ending 7/8/2021 (officially 6/30/2021 but they allow for slow mail for last minute donations to roll in), I broke the alumni participation ratio down by decade. I skipped prior to 1951 simply because there are so few still around.
The source of this analysis is from the Holy Cross Advancement Office:
Decade Donors # of Alums %
1951-1960: 749 1,399 53.5
1961-1970: 1,794 3,244 55.3
1971-1980: 2,386 4,909 48.6
1981-1990: 2,663 5,689 46.8
1991-2000: 2,596 6,055 42.9
2001-2010: 2,126 6,441 33.0
2011-2020: 1,701 6,811 25.0
2021: 287 705 40.7
Total: 14,333 35,360 40.5
You can see that percentage of alum donors peaks in the 60's and goes downhill from there until you hit the current senior Class but that's a normal one year spike when the youngest alums are still full of enthusiasm and drops off significantly in following years (see 2011-2020).
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Post by longsuffering on Oct 6, 2021 19:42:27 GMT -5
Could the drop off in giving by younger alumni reflect the fact that these young folks graduate with a significant amount of debt (~$25k I believe)? Then if one decides to go to law school or medical school, that figures moves to well over $200k? Older alumni may still be p.o.'d about the de-emphasis of athletics (Big East decision) and more recent incidents like the dropping of the Crusader mascot and the writings of Prof. Ben Lieu of the Religious Studies department. Would be interested to get more color on what is driving the drop off and is it unique to HC? No question that if a young alum is paying a few hundred a month on his student loan, when the appeal comes he or she is more likely to feel they've already given and/or the appeal is for a different demographic. Too bad in a way because habits formed early tend to stick. I didn't feel I was anybody's benefactor until I read something in Crossroads (the predecessor to Holy Cross Magazine) that even a small gift would help HC win a national grant of some sort for colleges with high contribution participation among alumni. So I joined in and have given ever since. In a way HC can't complain about student loan burdens. There has not been too much effort at cost containment if the ever increasing tuition, R&B and fees is considered the cost. |
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Post by Chu Chu on Oct 7, 2021 13:17:33 GMT -5
No one has presented any data in this discussion that young alums are supporting the collegiate a lower rate. It seems to be an assumption.
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Post by sader1970 on Oct 7, 2021 13:27:33 GMT -5
Chu, I thought my post two above yours clearly shows the percent of alum donors is smaller for younger alums than older alums. That to me shows young alums are supporting Holy Cross at a lower rate. This is from official Holy Cross data.
This isn't/wasn't about absolute dollars (what does it take to send even $5 or $10? - that all counts the same for the participation rate).
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Post by KY Crusader 75 on Oct 7, 2021 13:34:49 GMT -5
Chu, I thought my post two above yours clearly shows the percent of alum donors is smaller for younger alums than older alums. That to me shows young alums are supporting Holy Cross at a lower rate. This is from official Holy Cross data. This isn't/wasn't about absolute dollars (what does it take to send even $5 or $10? - that all counts the same for the participation rate). Yes, but to me the question is whether these young alums are supporting HC at a lower rate than young alums did 10,20,30 years ago. So, is it an age issue or a cohort issue? Will these young alums open their wallets as they age, get higher paying jobs, etc? |
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Post by sader1970 on Oct 7, 2021 13:46:29 GMT -5
I may have had that answer for you objectively 10-15 years ago having had the same report each year. However, my packratness has been trumped by my “you haven’t looked at that for 3 years” (statute of limitations?) better half.
So, I can’t prove anything but my back-of-my- head memory is that all segments have dropped off, especially among older alums who often gave in the high 50% to low 60% but that younger alums used to give in higher percentages if not absolute dollars than they do now.
But thanks for your clarifying question as with additional thought I think that’s what Chu always meant with his question.
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Post by Pakachoag Phreek on Oct 7, 2021 18:11:53 GMT -5
Last year, the participation rate for classes between 1972 and 1995 was generally in the 40s. Between 1996 and 2012, generally in the 30s. Between 2013 and 2021, generally in the 20s.
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Post by Chu Chu on Oct 7, 2021 20:22:33 GMT -5
Chu, I thought my post two above yours clearly shows the percent of alum donors is smaller for younger alums than older alums. That to me shows young alums are supporting Holy Cross at a lower rate. This is from official Holy Cross data. This isn't/wasn't about absolute dollars (what does it take to send even $5 or $10? - that all counts the same for the participation rate). My bad. I looked at that quickly and thought it was referring to decades of giving and not classes that gave. |
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