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Post by mm67 on Nov 19, 2021 18:15:03 GMT -5
Hoy Cross endowment market value(in millions) $1,043.31. $348,277 per student.
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Post by longsuffering on Nov 19, 2021 20:10:52 GMT -5
So tuition would be about 20 Grand or so higher without the endowment?
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Post by KY Crusader 75 on Nov 19, 2021 20:43:28 GMT -5
So tuition would be about 20 Grand or so higher without the endowment? I believe that colleges typically use something like 4% of the endowment each year. That's probably based on a 3 year average or some such calculation, but for the sake of argument let's use $1,000,000,000 as the endowment. 4% of that would be $40,000,000. Spread over 3,000 students, that would come to about $13,300 per student if my logic and math are correct. |
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Post by longsuffering on Nov 19, 2021 22:34:26 GMT -5
So tuition would be about 20 Grand or so higher without the endowment? I believe that colleges typically use something like 4% of the endowment each year. That's probably based on a 3 year average or some such calculation, but for the sake of argument let's use $1,000,000,000 as the endowment. 4% of that would be $40,000,000. Spread over 3,000 students, that would come to about $13,300 per student if my logic and math are correct. I was using 4.5% (from PP's Seminars) of MM's $438K per student to come up with a ballpark figure of $20K in my head. What strikes me is how schools like our neighbor Anna Maria who have an insignificant endowment provide a college education without that $13-20K boost and still charge much less. |
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Post by sader1970 on Nov 19, 2021 22:37:37 GMT -5
Except, as others (Phreek?) have said repeatedly, much (some, anyway) of the endowment is designated for specific things and can't just be used to reduce tuition expenses. Unless we know what those other things are/how much of the endowment is designated for non-financial aid, this is not an exercise worth even attempting. So, KY, I think your math might be right but perhaps not your logic.
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Post by KY Crusader 75 on Nov 19, 2021 22:41:25 GMT -5
I believe that colleges typically use something like 4% of the endowment each year. That's probably based on a 3 year average or some such calculation, but for the sake of argument let's use $1,000,000,000 as the endowment. 4% of that would be $40,000,000. Spread over 3,000 students, that would come to about $13,300 per student if my logic and math are correct. I was using 4.5% (from PP's Seminars) of MM's $438K per student to come up with a ballpark figure of $20K in my head. What strikes me is how schools like our neighbor Anna Maria who have an insignificant endowment provide a college education without that $13-20K boost and still charge much less. Two of my favorite expressions, both in selling brands and in instructing my children, may be applicable here: The best quality is always a better buy Buy the best, you'll always be happy with it Edit to clarify: I am not suggesting that I should be instructing anyone on the board. I'm just using some favorite expressions to illustrate how great I believe alma mater is. |
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Post by longsuffering on Nov 19, 2021 22:45:46 GMT -5
A penny saved is a penny wasted.😊
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Post by Pakachoag Phreek on Nov 20, 2021 7:50:30 GMT -5
On the endowment, the endowment is comprised of hundreds of different funds. For example, a group of alums recently contributed a significant sum to match a portion of the $20+ million bequest of Agnes (Mrs. EBW) Williams. Those funds are creating new scholarships in Fr. B.'s name for graduates of Catholic high schools. These are donor-restricted monies, and cannot be used to purchase library books, or pay for the salary of the football coach.
Of the $1.043B in endowment value, $573 million is donor restricted.
For the college's budget (fiscal) year ending June 30, 2025, -- assuming an endowment value of $1.043B in fiscal 2021, $1.100B in 2022, and $1.157B in 2023, the average endowment for those three years would be $1.100 billion, and assuming a 4.5 percent distribution of that three year average total endowment value for the operations of the college -- the distribution would be $49.5 million. $49.5 million would be about $15 million (about 43%) more than the distribution for the fiscal year ending June 30, 2021.
If that three-year average was $1.2 billion, the distribution would be $54 million.
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Post by matunuck on Nov 20, 2021 10:53:57 GMT -5
Hoy Cross endowment market value(in millions) $1,043.31. $438, 749 per student. The endowment per student is $348,277. |
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Post by mm67 on Nov 20, 2021 11:51:08 GMT -5
Hoy Cross endowment market value(in millions) $1,043.31. $438, 749 per student. The endowment per student is $348,277. Hi, Oops! My error. I incorrectly cited the number fo total assets, per student. Carelessness. Thanks. mm |
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Post by longsuffering on Nov 20, 2021 12:58:06 GMT -5
On the endowment, the endowment is comprised of hundreds of different funds. For example, a group of alums recently contributed a significant sum to match a portion of the $20+ million bequest of Agnes (Mrs. EBW) Williams. Those funds are creating new scholarships in Fr. B.'s name for graduates of Catholic high schools. These are donor-restricted monies, and cannot be used to purchase library books, or pay for the salary of the football coach. Of the $1.043B in endowment value, $573 million is donor restricted. For the college's budget (fiscal) year ending June 30, 2025, -- assuming an endowment value of $1.043B in fiscal 2021, $1.100B in 2022, and $1.157B in 2023, the average endowment for those three years would be $1.100 billion, and assuming a 4.5 percent distribution of that three year average total endowment value for the operations of the college -- the distribution would be $49.5 million. $49.5 million would be about $15 million (about 43%) more than the distribution for the fiscal year ending June 30, 2021. If that three-year average was $1.2 billion, the distribution would be $54 million. To a large degree the current popular phrase "It's all good" applies here as most of the restricted usages fund items that otherwise would be funded by the unrestricted segment of the endowment or by tuition. The Fr. B. scholarships for Catholic School grads for example. Since HC is still need blind except on the lower margins of accepted students (am I understanding that correctly?) the scholarships would have to be paid anyway. So using the motivation of wanting to honor Fr. B. to spur restricted donations is just about as valuable as unrestricted giving that may not be as robust without an extra "hook" such as a donor's relationship with Fr. B. Plus this provides an extra "hook" to recruit good students from Catholic High Schools and allow the high schools another potential benefit to use in their recruiting. Many benefits in exchange for little significant restriction. Development is as creative as marketing. |
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Post by hc6774 on Nov 21, 2021 10:31:47 GMT -5
On the endowment, the endowment is comprised of hundreds of different funds. For example, a group of alums recently contributed a significant sum to match a portion of the $20+ million bequest of Agnes (Mrs. EBW) Williams. Those funds are creating new scholarships in Fr. B.'s name for graduates of Catholic high schools. These are donor-restricted monies, and cannot be used to purchase library books, or pay for the salary of the football coach. This is part the college’s campaign to increase endowment for financial aid. The campaign runs through June ‘22.
A week ago, at the annual meeting of the O’Callahan Society. it was announced that 3 alums had established the O’Callahan/Brooks NROTC Scholarship Fund. The Williams bequest funds matched their commitments on June 30. Since then other alums have contributed to this new fund. It prioritizes ‘walk on’ students who enter the NROTC program without an ROTC tuition scholarship funded by the Navy or Marine Corps. |
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Post by longsuffering on Nov 21, 2021 15:28:14 GMT -5
On the endowment, the endowment is comprised of hundreds of different funds. For example, a group of alums recently contributed a significant sum to match a portion of the $20+ million bequest of Agnes (Mrs. EBW) Williams. Those funds are creating new scholarships in Fr. B.'s name for graduates of Catholic high schools. These are donor-restricted monies, and cannot be used to purchase library books, or pay for the salary of the football coach. This is part the college’s campaign to increase endowment for financial aid. The campaign runs through June ‘22.
A week ago, at the annual meeting of the O’Callahan Society. it was announced that 3 alums had established the O’Callahan/Brooks NROTC Scholarship Fund. The Williams bequest funds matched their commitments on June 30. Since then other alums have contributed to this new fund. It prioritizes ‘walk on’ students who enter the NROTC program without an ROTC tuition scholarship funded by the Navy or Marine Corps. ROTC is a competitive asset not every peer school enjoys. Let's make the most of it. Unlike the Vietnam era, more people, including students, recognize the need for a strong well educated military with the range of threats the country faces today. |
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Post by KY Crusader 75 on Nov 21, 2021 17:58:07 GMT -5
When did HC lose Air Force ROTC?
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Post by rgs318 on Nov 21, 2021 18:23:34 GMT -5
After 1967 (when I graduated).
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Post by KY Crusader 75 on Nov 21, 2021 19:00:32 GMT -5
After 1967 (when I graduated). Yes-I remember it in the early 1970's. |
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Post by sader1970 on Nov 21, 2021 19:07:11 GMT -5
Are you sure about your 1967 year? I ask because I had a bunch of classmates who were commissioned in the Air Force and Air Force reserve in June, 1970 and was pretty sure I remember AFROTC still around beyond my freshmen year.
edit: I just re-read your post and my reading comprehension wasn't what it used to be. I now figure you mean it was still around in 1967. Not that it ended then.
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Post by rgs318 on Nov 21, 2021 19:11:40 GMT -5
Yup.  (IIRC there were protests on campus in the late 70s about a military presence on campus that were tied to protests against our involvement in VietNam...and against the draft.) |
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Post by KY Crusader 75 on Nov 21, 2021 19:33:00 GMT -5
Yup. (IIRC there were protests on campus in the late 70s about a military presence on campus that were tied to protests against our involvement in VietNam...and against the draft.) I think that was probably 1969 or 1970? I believe HC was the second college to go on strike with Columbia being the first. It was maybe my freshman year 1971-1972 when there were additional protests-I believe someone firebombed the ROTC building but I don't believe it caught on fire. The building did have a peace sign painted on its roof |
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Post by Crucis#1 on Nov 21, 2021 19:42:37 GMT -5
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Post by rgs318 on Nov 21, 2021 19:43:48 GMT -5
I knew HC shared the NROTC program. I was not aware the Air Force had a similar shared program.
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Post by KY Crusader 75 on Nov 21, 2021 19:53:30 GMT -5
I recall the annual intramural football game between NROTC and AFROTC was quite an event--hotly contested
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Post by Crucis#1 on Nov 21, 2021 20:05:58 GMT -5
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Post by hc6774 on Nov 22, 2021 9:18:34 GMT -5
Thanx Crucis... your summary is essentially correct. Det 340 was establish at Holy Cross in 1951. The cadet corps was about 200; [NROTC midshipmen battalion about 400; HC enrollment 1800]. Ten years ago, the AFROTC Commander told me that approx. 600 HC cadets had been commission by detachment up to 1990. The Worcester Consortium was founded in 1968 to share 'academic resources'. It may have been the first of its kind in the country. Fr Swords was its first president. However, student cross enrollment was not encouraged by Holy Cross. In 1971 I believe the HC AFROTC cadre began to recruit WPI students.... much to the chagrin of Fr Brooks. It is the 80th anniversary of the NROTC program at Holy Cross... [70 yrs for Det 340] A class of '71 O'Callahan Society member has done extensive research on ROTC in the HC archives. He is working with the Alumni office to make a presentation. |
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