2024 Endowment Leadership Series

2024 Endowment Leadership Series

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February 8–April 18, 2024

Building on the online series originally launched in 2021, NACUBO will again offer a biweekly series exploring endowment fundamentals in 2024—tackling tough questions about asset management and sharing the latest information on key issues that affect endowment investing, spending, and management. Over the course of this six-session series, thought leaders from leading investment companies, the higher education sector, and other stakeholders will share their expertise on current trends and challenging topics.

Registration for this series also provides complimentary access to Endowment and Split Interest Gifts Parts 1 and 2, from the 2024 Intermediate Accounting and Reporting program.

Recordings

All sessions will be recorded. Registrants will receive an email when each recording is available.


Sponsors

NACUBO thanks the following supporters of this event:

Primary Contributor

Commonfund

Premier Sponsors

Bank of America Crewcial Partners TIAA

Classic Sponsor

Prime Buchholz LLC

CPE Available: 9 Credits in Finance and Specialized Knowledge

Each individual must register and attend separately to earn credit.

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NACUBO is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website www.nasbaregistry.org


Event Information

  • Level: Intermediate
  • Prerequisites: Minimum 1-2 years of experience as a professional in higher education or a related private industry.
  • Advanced Preparation: None
  • Delivery Mode: Group internet based
  • Field of Study: Finance and Specialized Knowledge (See schedule for fields of study by session)
  • Length: 75 minutes per session

How to Earn CPE Credit

CPE credit is awarded per session. You can only earn credit for attending a session live. CPE credit cannot be earned for watching the recordings.

To earn CPE credit, go to the Schedule tab and click the title of the session you want to attend. On that session page, you will complete the following tasks under the Content tab, after the session has ended:

  1. Pass the CPE codeword quiz. Write down the codewords posted in the Zoom chat at random times throughout the session and complete the quiz at the end of the session. 
  2. Submit the CPE check-out code displayed at the end of the session. 
  3. Download your CPE certificate. 

You have until 5 pm ET on the following business day after the session to complete these three steps or report technology issues with this site to online@nacubo.org. Review the "CPE Info" tab on the session page to confirm the CPE deadline for that session.

For more detailed instructions, review the CPE Instructions page.

  • Live Event: 04/18/2024 at 2:00 PM (EDT)

    How can higher education endowments best compare their investment rates of return and other results against peer institutions? What are the best tools available for conducting effective, data-driven analysis of endowment performance? This session will discuss the critical topic of college and university peer-analysis benchmarking of endowment returns, asset allocations, and other key data. Panelists will provide advice on the tools and tips that can be used by investment managers and committees for evaluating performance against a variety of peer institutional sets.

  • Recorded On: 02/08/2024

    Even among those with years of higher education experience, endowments and how they work can be challenging to describe. Experts will explain the legal and governing structure of endowment funds and how they are managed to provide colleges, universities, and other nonprofit organizations with a steady and reliable source of funding over the long term. This session explores the basic structure of endowments and covers how they are managed to support current operations without shortchanging the future.

  • Recorded On: 02/22/2024

    This session provides an overview of the results of the 2023 NACUBO-Commonfund Study of Endowments, the most comprehensive analysis of endowment investment returns, asset allocations, and governance policies and practices at U.S. higher education institutions and affiliated foundations. The 2023 NACUBO-Commonfund Study of Endowments, the 50th anniversary of NACUBO’s endowment study series, is expected to show that college and university endowments posted below average returns in fiscal year 2023. College and university chief investment officers and other panelists will look back at the investment returns, asset allocations, and other factors that influenced performance in FY23. Panelists will address the challenges of the financial market conditions they are facing in 2024 and beyond. They will also share the major highlights endowments have seen over the past 50 years.

  • Recorded On: 03/07/2024

    Institutions with endowments must have strong relationships between business, academic, investment, development, and governance functions. This session touches on how many moving institutional parts work together and why. Topics include donor reporting, endowed faculty positions, accounting, and record keeping for individual funds, fiduciary responsibility, funds functioning as endowments, public policy and perception, understanding the giving pipeline, and the importance of communicating endowment spending benefits internally and externally.

  • Recorded On: 03/21/2024

    College and university investment offices have been responding to stakeholders’ social concerns for decades. Responsible investing (RI) involved responding to calls to divest from South Africa because of apartheid in the 1960s–1980s and now includes considering concerns about climate change and racial equity issues in terms of management and fund ownership. For example, data has shown that a lack of diversity in the asset management field, and a lack of diversity among college and university asset managers specifically, is an ongoing and persistent issue that some colleges and universities have begun to address. Others have made major new strategic investment decisions to stop investing in fossil fuels. Further, there is increasing interest from regulators and others to increase reporting on hard-to-define environmental, social, and governance (ESG) investing. During this session, explore strategies for investing with impact and with fiduciary duty.

  • Recorded On: 04/04/2024

    Most institutional endowments have seen lower investment rates of return over the past two years. At the same time, there is pressure on campuses to spend more endowment dollars on student financial aid and other important functions. To deal with these pressures, some institutions made special spending appropriations, while others stayed the course in their spending dollars, resulting in modest spending increases over time due to the spending “smoothing” effect of multi-year trailing average returns. Can a single year of significant spending compromise intergenerational equity? Since returns can be unrealized, what will continued market volatility mean for institutions that significantly increase spending? What are the best strategies to ensure stability while increasing spending? This session’s experts will address such questions, especially given large swings in returns over the past two years. Panelists will also discuss the latest strategic investment practices that consider national and global economic policy decisions.

  • Recorded On: 01/26/2024

    Presenters review all accounting and reporting considerations and requirements for true endowments and funds functioning and endowments. Accounting for the various split-interest gifts that comprise planned giving arrangements are also discussed. Several differences between GASB and FASB requirements are highlighted.

  • Recorded On: 01/26/2024

    Presenters review all accounting and reporting considerations and requirements for true endowments and funds functioning and endowments. Accounting for the various split-interest gifts that comprise planned giving arrangements are also discussed. Several differences between GASB and FASB requirements are highlighted.

Crewcial Partners

Crewcial Partners is a 100% employee-owned, boutique-style investment firm that has been focused on providing customized investment advice to non-profit institutions since 1980. As a result, we've developed a deep level of experience to support such clients as they navigate the requirements and challenges inherent to their particular investment journey.

Our firm’s evolution over the past 40 years includes expanding our scope of research from US to international, building out a robust private-assets team, developing a comprehensive diverse-manager discovery process, and anticipating and developing solutions to the ever-expanding requirements and concerns of our clients, from investment policy statements to critical administrative responsibilities.

While our approach is, of course, rooted in strong performance, it also includes understanding each community and its needs. Crewcial is differentiated because we invest aspirationally, aiming for top-quartile performance inclusive of your mission. Our work in ESG and inclusion supports this by allowing our clients to invest in a manner that drives impact beyond nominal portfolio returns.

Contacts

Resources

TIAA

TIAA was founded in 1918 to help teachers retire with confidence. That mission grew to include those in healthcare and more, creating reliable income for their futures while they work to make a difference today. Our commitment to be the change—for our clients, associates and communities—has never wavered and it’s what motivates us to deliver lifetime income for all with investments that build a better world.

Key Contacts

  • Nicolette Dixon, Senior Director | Strategic Client Engagement, TIAA, ndixon@tiaa.org

TIAA Insights

Prime Buchholz LLC

Prime Buchholz was established in 1988 and has a long history of serving higher education. Founded by two university CFOs, educational institutions represent approximately one-third of our 250 clients. We have a deep-rooted understanding of the unique financial needs of colleges and universities—our lasting client relationships highlight our ability to cater to their specific needs. Our independence, customized approach, mission-aligned investment capabilities, and proprietary analytics platform, PrimePlus®, help us create lasting partnerships designed to achieve the goals of our clients. 

Contact Info

Liz Mullen, liz.mullen@primebuchholz.com, 603.828.9241

Resources