Endowment Managent


Book Description

Second Edition




Bankers in the Ivory Tower


Book Description

Universities and the social circuitry of finance -- Our new financial oligarchy -- Bankers to the rescue : the political turn to student debt -- The top : how universities became hedge funds -- The bottom : a Wall Street takeover of for-profit colleges -- The middle : a hidden squeeze on public universities -- Reimagining (higher education) finance from below -- Methodological appendix : a comparative, qualitative, and quantitative study of elites.




The State Must Provide


Book Description

“A book that both taught me so much and also kept me on the edge of my seat. It is an invaluable text from a supremely talented writer.” —Clint Smith, author of How the Word is Passed The definitive history of the pervasiveness of racial inequality in American higher education America’s colleges and universities have a shameful secret: they have never given Black people a fair chance to succeed. From its inception, our higher education system was not built on equality or accessibility, but on educating—and prioritizing—white students. Black students have always been an afterthought. While governments and private donors funnel money into majority white schools, historically Black colleges and universities (HBCUs), and other institutions that have high enrollments of Black students, are struggling to survive, with state legislatures siphoning away federal funds that are legally owed to these schools. In The State Must Provide, Adam Harris reckons with the history of a higher education system that has systematically excluded Black people from its benefits. Harris weaves through the legal, social, and political obstacles erected to block equitable education in the United States, studying the Black Americans who fought their way to an education, pivotal Supreme Court cases like Plessy v. Ferguson and Brown v. Board of Education, and the government’s role in creating and upholding a segregated education system. He explores the role that Civil War–era legislation intended to bring agricultural education to the masses had in creating the HBCUs that have played such a major part in educating Black students when other state and private institutions refused to accept them. The State Must Provide is the definitive chronicle of higher education’s failed attempts at equality and the long road still in front of us to remedy centuries of racial discrimination—and poses a daring solution to help solve the underfunding of HBCUs. Told through a vivid cast of characters, The State Must Provide examines what happened before and after schools were supposedly integrated in the twentieth century, and why higher education remains broken to this day.




How the Financial Crisis and Great Recession Affected Higher Education


Book Description

The recent financial crisis had a profound effect on both public and private universities. Universities responded to these stresses in different ways. This volume presents new evidence on the nature of these responses and how the incentives and constraints facing different institutions affected their behavior.




College and University Endowments


Book Description

Colleges and universities maintain endowments to directly support their activities as institutions of higher education. Endowments are typically investment funds, but may also consist of cash or property. Current tax law benefits endowments and the accumulation of endowment assets. Specifically, endowment fund earnings are exempt from federal income tax. Additionally, taxpayers making contributions to college and university endowment funds may be able to deduct the value of their contribution from income subject to tax. The purpose of this book is to provide background information on college and university endowments, and discuss various options for changing their tax treatment.




International Experience in Developing the Financial Resources of Universities


Book Description

This open access book aims to present the experiences and visions of several world university leaders, providing strategies and methods used to find various income sources for their institutions. The expansion of a university system requires a corresponding increase in funding. Consequently, university administrators all over the world are in a constant search for additional funds. If higher-level institutions are expected to deliver high-quality education and research, their sustainable funding is crucial to the development of the countries they serve. While governmental sources are a major part of the funding of most universities, economic downturns as in the case of the COVID-19 crisis may reduce governmental contributions in this and cause administrators to look for various alternative sources to help them compete in a global setting. This book offers valuable information and guidance to university leaders and administrators worldwide especially at a time when university budgets are under stress due to the COVID-19 pandemic with its dire financial and economic consequences.




The Years that Matter Most


Book Description

The bestselling author of How Children Succeed returns with a devastatingly powerful, mind-changing inquiry into higher education in the U.S.




The College Solution


Book Description

“The College Solution helps readers look beyond over-hyped admission rankings to discover schools that offer a quality education at affordable prices. Taking the guesswork out of saving and finding money for college, this is a practical and insightful must-have guide for every parent!” —Jaye J. Fenderson, Seventeen’s College Columnist and Author, Seventeen’s Guide to Getting into College “This book is a must read in an era of rising tuition and falling admission rates. O’Shaughnessy offers good advice with blessed clarity and brevity.” —Jay Mathews, Washington Post Education Writer and Columnist “I would recommend any parent of a college-bound student read The College Solution.” —Kal Chany, Author, The Princeton Review’s Paying for College Without Going Broke “The College Solution goes beyond other guidebooks in providing an abundance of information about how to afford college, in addition to how to approach the selection process by putting the student first.” —Martha “Marty” O’Connell, Executive Director, Colleges That Change Lives “Lynn O’Shaughnessy always focuses on what’s in the consumer’s best interest, telling families how to save money and avoid making costly mistakes.” —Mark Kantrowitz, Publisher, FinAid.org and Author, FastWeb College Gold “An antidote to the hype and hysteria about getting in and paying for college! O’Shaughnessy has produced an excellent overview that demystifies the college planning process for students and families.” —Barmak Nassirian, American Association of Collegiate Registrars and Admissions Officers For millions of families, the college planning experience has become extremely stressful. And, unless your child is an elite student in the academic top 1%, most books on the subject won’t help you. Now, however, there’s a college guide for everyone. In The College Solution, top personal finance journalist Lynn O’Shaughnessy presents an easy-to-use roadmap to finding the right college program (not just the most hyped) and dramatically reducing the cost of college, too. Forget the rankings! Discover what really matters: the quality and value of the programs your child wants and deserves. O’Shaughnessy uncovers “industry secrets” on how colleges actually parcel out financial aid—and how even “average” students can maximize their share. Learn how to send your kids to expensive private schools for virtually the cost of an in-state public college...and how promising students can pay significantly less than the “sticker price” even at the best state universities. No other book offers this much practical guidance on choosing a college...and no other book will save you as much money! • Secrets your school’s guidance counselor doesn’t know yet The surprising ways colleges have changed how they do business • Get every dime of financial aid that’s out there for you Be a “fly on the wall” inside the college financial aid office • U.S. News & World Report: clueless about your child Beyond one-size-fits-all rankings: finding the right program for your teenager • The best bargains in higher education Overlooked academic choices that just might be perfect for you




Pioneering Portfolio Management


Book Description

In the years since the now-classic Pioneering Portfolio Management was first published, the global investment landscape has changed dramatically -- but the results of David Swensen's investment strategy for the Yale University endowment have remained as impressive as ever. Year after year, Yale's portfolio has trumped the marketplace by a wide margin, and, with over $20 billion added to the endowment under his twenty-three-year tenure, Swensen has contributed more to Yale's finances than anyone ever has to any university in the country. What may have seemed like one among many success stories in the era before the Internet bubble burst emerges now as a completely unprecedented institutional investment achievement. In this fully revised and updated edition, Swensen, author of the bestselling personal finance guide Unconventional Success, describes the investment process that underpins Yale's endowment. He provides lucid and penetrating insight into the world of institutional funds management, illuminating topics ranging from asset-allocation structures to active fund management. Swensen employs an array of vivid real-world examples, many drawn from his own formidable experience, to address critical concepts such as handling risk, selecting advisors, and weathering market pitfalls. Swensen offers clear and incisive advice, especially when describing a counterintuitive path. Conventional investing too often leads to buying high and selling low. Trust is more important than flash-in-the-pan success. Expertise, fortitude, and the long view produce positive results where gimmicks and trend following do not. The original Pioneering Portfolio Management outlined a commonsense template for structuring a well-diversified equity-oriented portfolio. This new edition provides fund managers and students of the market an up-to-date guide for actively managed investment portfolios.




The Trustee Governance Guide


Book Description

More than 80% of the financial assets in the United States fall under the purview of a trustee. That's a big responsibility for an estimated 1% (around 1.5 million people) of the U.S. working population charged with overseeing investments for millions and millions of beneficiaries, public sector, and non-profit organizations. In a world proliferated by investment products, increasingly dominated by indexes, faced—particularly in the pension world—with increasing liabilities, more regulation, and a growing number of social and sustainability objectives, what's a trustee to do? The Trustee Governance Guide is here to help guide today’s board trustee through the brave new world of 21st century investing. The book focuses on the critical aspects of the Five Imperatives: Governance, Knowledge, Diversification, Discipline, and Impact. Based on more than a decade of research, practice, and discussions with many key decision makers and influencers across the industry, this book addresses the many topics related to better governance, greater mission-driven financial performance, and impact. The questions the book addresses include: · What is good governance, how do we know it when we see it, and why does it matter? · How much knowledge is necessary to be a competent board member? · How big should my endowment be? · What are the key elements of a diversified portfolio? · How much does cost matter? · What's the difference between socially responsible and ESG investing? · Can I focus on sustainability and still be a good fiduciary? This book provides a way for boards to improve and benchmark their own governance performance alongside their peers, and uniquely covers related investment topics in each chapter.