ELS25: Nuts and Bolts of Endowment Management
Live Event: 02/25/2025 at 2:00 PM (EST)
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- Member - $89
- Non-member - $149
Institutions with endowments must have strong relationships between the CFO, academic, investment, development, and governance functions. This session touches on how many institutional areas must work together and why. Topics include accounting and record keeping for individual funds, managing donor restrictions, fiduciary responsibility, donor reporting, funds functioning as endowment, public perception, and the importance of communicating endowment spending benefits internally and externally.
Learning Objectives
After this webinar, you will be able to—
- Understand the complexity of endowment nuts and bolts across campus
- Explain differences in roles and objectives between business, academic, donor, investment, and governance functions
- Develop strategies for communicating internally and externally
Recording
This webinar will be recorded. Registrants will receive an email when the recording is available.
CPE Available: 1 Credit in Finance
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: Finance
- 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 26, 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.
Charlene Sweeney
Associate Vice President and University Controller
Brown University
Charlene Sweeney has been at Brown University for 12 years, serving the last 8 years as the University Controller. Prior to Brown University, she was a senior manager at KPMG where she worked for almost 15 years in the audit practice serving not-for-profit Universities and Hospitals. She is currently the NACUBO representative on the AICPA NFP Entities Expert Panel and a member of the NACUBO APC. She has presented at EACUBO, NACUBO Higher Education Accounting Form, and Workday Rising. She is a CPA licensed in the state of RI.
Rick Cole
Partner
FORVIS
Rick Cole has more than 25 years of experience serving nonprofit organizations. He is the New York Market Industry Leader for nonprofit and education and is a member of the FORVIS higher education center of excellence. Before joining the firm in 2019, he worked at FASB, where he served as a supervising project manager for almost six years. Prior to joining FASB, Cole was vice president and controller at a large national museum in New York for seven years and a senior manager with a large international accounting firm where he worked for 14 years and specialized in audits of higher education institutions and other nonprofit organizations. He is a lecturer at the Columbia University School of Professional Studies, in their nonprofit management program.
Cole is a CPA in New York and New Jersey and is a member of the AICPA and New York State Society of Certified Public Accountants. He is a graduate of Montclair State University, with a BS degree and an MBA degree.
Sue Menditto
Senior Director, Accounting Policy
NACUBO
Sue Menditto is NACUBO’s expert on financial accounting and reporting, managerial analysis, and financial viability. She is charged with fulfilling higher education advocacy needs with the GASB, FASB, AICPA, and Department of Education. She was appointed to the IPEDS Finance Survey Workgroup in August 2023 as one of its financial reporting experts. She has also represented higher education on the Governmental Accounting Standards Advisory Council (2006–2012), AICPA’s Revenue Recognition Task Force (2016–2017), and the Department of Education’s financial responsibility subcommittee (2017–2018).
Menditto informs the association’s research efforts on accounting issues, endowment management, and tuition discounting; writes member communications: news, advisories, accounting tutorials, and articles; and supports members’ professional development needs by providing subject matter guidance. She has also co-authored chapters of publications addressing accounting, public health, and analytics and regularly speaks on accounting and financial management topics at conferences.
Menditto began her career in public accounting, was a CFO and Controller for a not-for-profit organization, and a vice president for Bank of America where she specialized in change management and accounting policy. She holds degrees in psychology and accounting and is a certified public accountant.
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Commonfund 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
