ERIC Number: ED263816
Record Type: RIE
Publication Date: 1985
Reference Count: 0
Improving Endowment Management. AGB Special Report.
Association of Governing Boards of Universities and Colleges
Endowment practices at 23 institutions during 1978-1983 were studied to provide recommendations on endowment fund management for colleges and universities. Although most of the participating colleges were privately supported, two state-supported universities were included. Twelve of the institutions used a systematic approach to improving endowment management, while 11 used a more traditional and less intensive approach. It was found that institutions employing independent consultants, multiple investment managers, and a systematic approach to policies and endowment management practices performed significantly better than institutions that took other approaches to endowment management. Study findings suggest that important factors in improving performance are appropriate trustee interest and involvement, institutions' retaining external professional managers of endowment investments, and using independent consultants to evaluate managers and performance. Appendices include: a set of questions trustees might consider as they manage their endowment funds; a sample statement for colleges and universities regarding investment policy, objectives, and guidelines for endowment funds; and a sample spending guideline statement and a spending plan illustration. (SW)
Descriptors: Administrator Role, Consultants, Decision Making, Educational Finance, Endowment Funds, Financial Policy, Governing Boards, Guidelines, Higher Education, Money Management, Private Colleges, School Surveys, State Colleges, Trustees
Association of Governing Boards of Universities and Colleges. 1133 20th Street NW Suite 300, Washington, DC 20036. Tel: 800-356-6317; Tel: 202-296-8400; Fax: 202-223-7053; Web site: http://www.agb.org
Publication Type: Guides - Non-Classroom; Reports - Research
Education Level: N/A
Audience: Administrators; Policymakers; Practitioners
Authoring Institution: National Association of College and University Business Officers, Washington, DC.; Common Fund, New York, NY.; Academy for Educational Development, Washington, DC.; American Council on Education, Washington, DC.; Association of Governing Boards of Universities and Colleges, Washington, DC.