ELS25: Challenges and Solutions: Operations, Governance, Endowments
- Registration Closed
Higher education institutions are grappling with numerous challenges that could affect their operations and financial stability, including declining enrollments, increased tuition discounting, and rising student activism. Both public and private institutions of all sizes are encountering significant obstacles and critical decision points. Mercer’s research paper, “Higher Education: Evolving and Advancing through the Sector’s Challenges,” delves into these issues and offers a range of potential investment, operational, and governance strategies to address them. Join us to examine and expand upon these topics.
Learning Objectives
After this webinar, you will be able to—
- Explain higher education’s internal and external challenges
- Develop approaches to solving tough problems
- Evaluate management, governance and investment decisions
Recording
This webinar will be recorded. Registrants will receive an email when the recording is available.
Sponsor
This webinar in the 2025 Endowment Leadership Series is generously supported by this Premier Sponsor:
CPE Available: 1 Credit in Specialized Knowledge
Each individual must register and attend separately to earn credit.
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: Specialized Knowledge
- Length: 60 minutes
Steps to Earn CPE Credit
You can only earn credit for attending the session live. CPE credit cannot be earned for watching the recordings.
To earn CPE credit, you will complete the following tasks under the Content tab, after the session has ended:
- 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.
- Submit the CPE check-out code displayed at the end of the session.
- Download your CPE certificate.
You have until 5 pm Eastern Time on February 21, 2025, to complete these three steps or report technology issues with this site to online@nacubo.org.
For more detailed instructions, review the CPE Instructions page.
David Bluestein
Senior Consultant, Endowments and Foundations
Mercer
David Bluestein is a Principal and Senior Investment Consultant with Mercer in the Endowments and Foundations Group. Based in Boston, David brings over twenty-two years of experience as a consultant and investment manager. He has advised endowments, foundations, and private clients on asset allocation, manager selection, spending policy, risk, performance monitoring, and all other issues regarding the management of institutional portfolios. He has also conducted research across many different asset classes and strategies, including public and private asset managers. Before Mercer, David was a Senior Investment Consultant at Crewcial Partners (formerly Colonial Consulting), where he worked with endowments and foundations on all aspects of their investment portfolios, contributed to manager research, and wrote the firm’s quarterly commentary. Prior to that, David worked at Cambridge Associates, where he was a generalist consultant and later a specialist consultant constructing customized hedge fund programs for clients. This led to an opportunity to join the partnership at Nyes Ledge, a hedge fund-of-funds, where he was part of the manager selection team and performed research across all hedge fund strategies.
David earned a BS in Management from the State University of New York at Binghamton, and an MBA from the Tuck School of Business at Dartmouth.
Lucy Momjian
Senior Education Strategist
Mercer - Endowment and Foundation Investment Practice
Lucy Momjian serves as Senior Education Strategist in Mercer's Endowment and Foundation Investment Practice working with higher education and independent school Outsourced Chief Investment Officer (OCIO) and advisory clients on their investment portfolios and supporting them with custom analyses and research. She joined Mercer in March 2024, in concert with its acquisition of Vanguard's OCIO unit, where she most recently served in a similar role. Prior to Vanguard, Lucy had the privilege of working in leadership roles within the University of Pennsylvania's (Penn's) Investment and Treasury Offices for over 20 years. As a result, she brings direct experience to managing both sides of a University's balance sheet and a deep understanding of risks that colleges and universities address.
Lucy holds a Bachelor's degree in Economics from the Wharton School of the University of Pennsylvania and an MS in Higher Education Administration from Penn's Graduate School of Education. Lucy holds both the Chartered Financial Analyst (CFA) and Chartered Alternative Investment Analyst (CAIA) designations. She served as a long-term board member and former President of the CFA Society of Philadelphia.
Cori Trautvetter
Leader, U.S. Endowments and Foundations
Mercer
Cori Trautvetter is a Partner and serves as Mercer’s U.S. Endowment and Foundation Commercial Leader and is part of the Endowment and Foundation Leadership Team. She is located in the St. Louis office and is also a member of the firm’s Endowment & Foundation and Values-Aligned Strategic Research Teams. Prior to its acquisition by Mercer in 2018, Cori was a Managing Director at Pavilion Advisory Group Inc. where she provided strategic investment advice to endowments, foundations, defined contribution plans, defined benefits plans, healthcare organizations and Taft-Hartley funds along with heading up the firm’s Endowment and Foundation Practice. Cori joined Pavilion Advisory Group Inc. in 2000. Prior to joining Pavilion Advisory Group Inc., Cori served for five years as an Associate Banker at Illini Bank in Springfield, IL. At Illini Bank, her responsibilities included managing consumer loans for numerous clients.
Cori is a member of the Chartered Alternative Investment Analyst (CAIA®) Association. She earned a Bachelor of Science degree in Finance from Eastern Illinois University. She currently serves on the Eastern Illinois University’s School of Business Advisory Board. Cori is also a Board Member for Youth In Need, a nonprofit child and family services agency and is an Investment Committee Member for the Daughters of Charity – Province of St. Louise.
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LockedCommonfund Institute is among the nation’s most trusted sources for relevant, useful, and proprietary data, analytics, and best practices in financial management. The Institute provides a wide variety of resources, including conferences, seminars, roundtables, and online learning through Commonfund Institute Online. Insights cover topics such as endowments and governance; proprietary and third-party research such as the Commonfund Benchmark Studies®; publications including the Commonfund Higher Education Price Index® (HEPI); and events such as the annual Commonfund Forum and Investment Stewardship Academy. For more information, visit www.commonfund.org.
Contacts
George Suttles, Executive Director | George.Suttles@commonfund.org | 646-348-9248
Allison Kaspriske, Director | Allison.Kaspriske@commonfund.org | 203-563-5021
Resources
Bank of America has been a leading investment advisor to endowments and foundations for over 160 years. With more than $65 billion under management, our dedicated team of approximately 200 professionals located in offices throughout the United States supports your mission with a comprehensive suite of fiduciary services, including–
Tailored investment services – We build customized investment programs designed to serve as an extension of your staff, supporting your institution’s spending needs. We take into account your income objectives, risk tolerance and liquidity requirements while observing the highest standards of fiduciary responsibility. Investment decisions are made using a total portfolio approach in which the objective is not simply to outperform benchmarks but to help meet a broad spectrum of goals for your institution.
Consulting and advisory support – Fulfilling your institution’s mission goes beyond a successful investment program. Our specialists provide assistance with other important matters that are essential in helping you to meet your goals —governance, Board education and assessment, and fundraising strategies, among others.
Administrative support – We help you to optimize your staff resources and ensure compliance with regulatory requirements by establishing operational protocols and developing and implementing policies and procedures to improve your institution’s administrative efficiency.
Contacts:
Bill Jarvis, Managing Director, Philanthropic Strategy & Delivery Executive, william_jarvis@bofa.com
Bernie Reidy, Managing Director, National Endowment and Foundations Executive, bernard.reidy@bofa.com
Resources
We help higher education institutions, including universities, colleges, and foundations, invest for change. Our research, advice, and customized investment solutions aim to help you achieve your investment outcomes while helping to advance your mission. Our services are flexible and tailored to meet the unique needs of your institution. Visit us online to learn more.
Resources
Higher education: Evolving and advancing through the sector’s challenges – In our two-part series, we explore the complex challenges higher education institutions are currently facing and provide actionable insights to help navigate this evolving landscape.
Top considerations for endowments and foundations 2025 – In this paper, we address four top considerations that E&Fs should keep in mind heading into the new year.
Swing state: investment themes and opportunities in 2025 and beyond – Through the course of this paper, we outline some of the key themes and opportunities we see over the next five years and beyond.
Optimizing operating cash: Effective liquidity management for Endowments & Foundations – We delve into the strategies for managing liquidity to ensure that your organization can meet its operational needs while maximizing potential investment opportunities.
Thoughts about rainy day funds (emergency reserves) – Many E&F’s experienced severe disruptions during the COVID pandemic and their reserves helped keep them afloat until government relief programs kicked in. Explore how we encourage E&Fs to react.
2025 Endowment & Foundation Quarterly Update – Each session will delve into the latest market trends, industry updates, and important topics that impact E&Fs, aiming to ensure you stay informed and prepared for the evolving environment.
Contact
Texas Hemmaplardh, U.S. Endowment & Foundation Leader, 212.345.0713, texas.hammaplardh@mercer.com
Fidelity Institutional offers institutional investors—including endowments, foundations, and retirement plan sponsors,—access to firsthand market knowledge and investment insights from one of the world’s largest proprietary investment research organizations. We also offer a broad and deep set of institutional investment management capabilities across global equities, fixed income, multi-asset class, high income, and alternatives. Visit i.fidelity.com/nonprofits rel="nofollow noopener noreferrer"> to learn more.
Contacts:
Danielle Frissell, Senior Vice President, Business Development, Danielle.Frissell@fmr.com
Eric Lussen, Senior Vice President, Business Development, Eric.Lussen@fmr.com
Resources
John W. Bristol & Co., Inc. (“JWB”) is a privately owned, independent investment adviser established in 1937 to advise college and university endowment funds and we have been helping clients in the educational field fulfill their missions for the better part of nine decades.
The firm manages equity, fixed income, and balanced accounts totaling approximately $6.7 billion for 108 clients as of December 31, 2024.Based on the NACUBO NSCEE study, our 10-year balanced account results rank in the top quartile of college endowment results for 2024 and have ranked in the top quartile on a 10-year basis for the past 10 years. This top-tier performance begins before your freshman class was born.
Our time-tested process has delivered equity returns superior to the S&P 500 over the past 10 years as well.
Endowments seeking to move into the top quartile should contact us to learn more.
Contact:
Benjamin M. Williams, Managing Director, Client Development, contact@jwbristol.com
Resources
Established in 1988, Prime Buchholz has a long history of serving higher education as an investment advisor/OCIO. 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 proprietary analytics platform, PrimePlus®, automates data workflows, integrates multiple sources, and delivers real-time investment insights to endowments.
Contact:
Adam Leech, adam.leech@primebuchholz.com, 207.216.7483
