“The fulfillment of our mission as a university depends on having the financial resources to make our distinctive Jesuit education affordable and accessible to deserving students regardless of income. Our community’s investment in the endowment ensures a lasting legacy of an unsurpassed education.” –Stephen Sundborg, S.J., President, Seattle University
IMPORTANCE OF THE ENDOWMENT Endowment gifts from alumni and friends enable Seattle University to fund such needs as: Student SCHOLARSHIPS Providing student RESEARCH EXPERIENCES
Attracting outstanding PROFESSORS Enhanced LAB EQUIPMENT
Classroom TECHNOLOGY
Approximate percentage of the University’s budget that is provided by the endowment. Seattle University’s number of individual endowments
278
ENDOWMENT MINIMUMS SCHOLARSHIPS MINIMUM GIFT $50,000 Scholarships enable the school to recruit and retain a diverse and talented student population. PROGRAM SUPPORT MINIMUM GIFT $100,000 Endowed funds may be designated to support existing activities at Seattle University such as academics, athletics, library collections and student life projects. ENDOWED PROFESSORSHIPS MINIMUM GIFT OF $500,000* Endowed professorships recognize outstanding accomplishments of the Seattle University faculty by providing partial support for teaching and research activities. Such positions offer incentive for all faculty members to achieve excellence in these areas. ENDOWED CHAIRS MINIMUM GIFT OF $2,000,000* Endowed chairs recognize teaching and research excellence, strengthening the school’s ability to attract and retain key faculty. * The minimum gift level for endowed professorships and chairs is dependent upon discipline.
ENDOWMENT SUPPORT FY2014 Distributed $7.6 million in university support designated as follows: 31%
ACADEMIC SUPPORT
30%
SCHOLARSHIPS
22%
CHAIRS/PROFESSORSHIPS
17%
GENERAL UNIVERSITY SUPPORT
SPENDING POLICY
4.5
%
Currently the Trustee-approved spending formula calls for an annual distribution of 4.5% of the previous twelve quarter rolling market value average of the endowment.
en·dow·ment
PERFORMANCE SUMMARY
ENDOWMENT MARKET VALUE IN MILLIONS
[en-dou-muh nt] noun
An endowment is a financial gift intended to provide permanent support for Seattle University for the advancement of its students, faculty, programs and university as a whole.
FISCAL YEAR
2011
2012
2013
2014
$250 $211M
Market Value Asset in Millions
YOUR GIFT
2010
Investment Return
$153M
6%
$179M
21%
$174M
-0.5%
$185M
8.2%
$211M
$200
15.7%
$179M $152M
$153M
2005
2010
$185M $174M
$150
THE INVESTMENT POOL
University Support Provided in millions
$8.8M
$7.7M
$6.8M
$7.0M
$7.6M $100
$50
Seattle University’s endowment is similar to a mutual fund in which each endowment account purchases numbers of units. The University’s endowment has various investment managers under the direction of our Investment Committee of the Board of Trustees and advisors, Cambridge Associates, LLC.
PEER INSTITUTION ENDOWMENTS IN MILLIONS*
2011
2012
2013
2014
$750
PORTFOLIO ALLOCATION *
INVESTMENT RETURN
Fixed Income Private Equity/Venture Capital ¢ Marketable Alternatives ¢ Real Assets
$500
Emerging Markets Global ex US Equity ¢ US Equity ¢ Cash & Equivalents
¢
¢
¢
¢
5.1 The investment return includes interest, dividends, realized and unrealized gains and losses.
11.8
FUND PAYOUT
17.6
$250
12.7 7.1
17.8
10.1
ific
Your investment is a constant resource stream that has a powerful impact when a portion of the endowment is withdrawn from the pool to support a student, faculty member, program or need.
o TY o d aU rU aU tU g nU n sc ar oun Die hto Sou Pac nci RSI zag avie l E on ra X ig et of a C m an U an F N IV G nt ary of S Cre Pug a S aM U U S f of LE yo ol t y T U i rs Lo AT ive SE n U
17.8
*As of June 30, 2014
en·dow·ment
PERFORMANCE SUMMARY
ENDOWMENT MARKET VALUE IN MILLIONS
[en-dou-muh nt] noun
An endowment is a financial gift intended to provide permanent support for Seattle University for the advancement of its students, faculty, programs and university as a whole.
FISCAL YEAR
2011
2012
2013
2014
$250 $211M
Market Value Asset in Millions
YOUR GIFT
2010
Investment Return
$153M
6%
$179M
21%
$174M
-0.5%
$185M
8.2%
$211M
$200
15.7%
$179M $152M
$153M
2005
2010
$185M $174M
$150
THE INVESTMENT POOL
University Support Provided in millions
$8.8M
$7.7M
$6.8M
$7.0M
$7.6M $100
$50
Seattle University’s endowment is similar to a mutual fund in which each endowment account purchases numbers of units. The University’s endowment has various investment managers under the direction of our Investment Committee of the Board of Trustees and advisors, Cambridge Associates, LLC.
PEER INSTITUTION ENDOWMENTS IN MILLIONS*
2011
2012
2013
2014
$750
PORTFOLIO ALLOCATION *
INVESTMENT RETURN
Fixed Income Private Equity/Venture Capital ¢ Marketable Alternatives ¢ Real Assets
$500
Emerging Markets Global ex US Equity ¢ US Equity ¢ Cash & Equivalents
¢
¢
¢
¢
5.1 The investment return includes interest, dividends, realized and unrealized gains and losses.
11.8
FUND PAYOUT
17.6
$250
12.7 7.1
17.8
10.1
ific
Your investment is a constant resource stream that has a powerful impact when a portion of the endowment is withdrawn from the pool to support a student, faculty member, program or need.
o TY o d aU rU aU tU g nU n sc ar oun Die hto Sou Pac nci RSI zag avie l E on ra X ig et of a C m an U an F N IV G nt ary of S Cre Pug a S aM U U S f of LE yo ol t y T U i rs Lo AT ive SE n U
17.8
*As of June 30, 2014
ENDOWMENT MANAGEMENT Seattle University’s endowment is made up of many specific endowment funds. It is similar to a mutual fund in which each endowment purchases units in the investment pool. Individual endowment assets are pooled together for investment purposes and the overall market value is subject to the fluctuations in the markets and may increase or decrease in value accordingly. The market value of an individual fund is determined by its number of units as a percentage of the entire pool.
INVESTMENT COMMITTEE CHAIR J. Thurston Roach Simpson Investment Company, retired SEATTLE UNIVERSITY REPRESENTATION Connie Kanter CFO and VP for Finance and Business Affairs Andrew O’Boyle Associate VP for Finance and Investments Vinay Datar Genevieve Albers Professor of Finance Ryder Thomas Class of ‘16, Student Michael Podlin VP University Advancement TRUSTEES Rod Bench Senior Managing Director, Kibble & Prentice Bob Blais CEO, Pando Capital, LLC Bob Ratliffe (ex-officio) Managing Director, Silver Creek Capital Stephen Sundborg, S.J. (ex-officio) President, Seattle University
NON-TRUSTEES Anne Farrell Seattle Foundation, retired, Trustee Emerita Joe Gaffney Class of ‘67, Partner, Dorsey & Whitney, LLP Matt McBrady Chief Investment Officer, Multi-Strategy Hedge Funds, BlackRock Charlie Pollnow Partner, Sansome Partners LLC Garth Reistad Deputy Chief Investment Officer, University of Washington Keith Traverse Investment Specialist, Bill Gates Investments CONSULTANTS: CAMBRIDGE ASSOCIATES, LLC Catherine Armstrong David Breiner Max Senter Bill Thompson
For more information on Endowment Management please contact the Donor Relations and Stewardship office at 206-296-6965. www.seattleu.edu/endowment