Endowment Report
The impact of endowed gifts can be seen in every corner of campus. Academic programs, endowed faculty chairs, research, scholarships and financial aid 鈥� all of these crucial aspects of the Dickinson experience depend on the more than $17 million the endowment provides to the college鈥檚 operations each year (FIGURE 1).
At the close of the 2015 fiscal year (July 1, 2014,
through June 30, 2015), Dickinson鈥檚 endowment totaled
$444.7 million (of which $371 was in the college-managed
鈥減ooled endowment鈥�) (FIGURE 2). This all-time high has
resulted in part from an average investment return of 8.4
percent in our pooled endowment since 2006.
For the last decade, Dickinson鈥檚 pooled endowment has outperformed the S&P 500 (FIGURE 3) and the college鈥檚 strategic target of spending plus inflation (our 5 percent spending plus the Consumer Price Index plus 1 percent), a key benchmark for maintaining intergenerational equity. Those impressive returns have consistently placed the pooled endowment鈥檚 performance returns in the top 10 percent of the institutions tracked by the National Association of College and University Business Officers (NACUBO)/Commonfund Study of Endowments.
ENDOWMENT GROWTH
Thanks to generous donors and sound financial management, Dickinson鈥檚
endowment has risen steadily throughout the last decade. As you can see in the
chart on the previous page (FIGURE 2), the endowment has managed this growth
despite facing turbulent years for the market, like 2009. The college鈥檚 longterm
growth strategy allows the endowment to rebound from years such as
2009 and to continue to grow to meet Dickinson鈥檚 needs.
Despite its high rate of return and impressive growth during the past decade, Dickinson鈥檚 endowment still lags behind the endowments at many of the college鈥檚 peer and aspirant institutions. Many of the colleges and universities with whom we compete for students can spend more of their endowment per year on each of their students (FIGURE 4).
Dickinson can take pride in the way it has been able to 鈥渄o more with less鈥� and compete with these wealthier institutions. However, changing demographics, a rising need for scholarships and new fields of study will only make increasing demands on our endowment in the coming years. The best way to meet these demands is through increased philanthropy鈥� through the vision and generosity of donors who believe in Dickinson and remain committed to helping the college build a foundation for the future.
Dickinson鈥檚 endowment is composed of the pooled endowment, which is managed as part of a consortium of colleges and universities by Investure, and the nonpooled endowment, which consists of funds held in trust for the college, endowed pledges and other assets. The pooled endowment makes up roughly 80 percent of the total endowment, while the nonpooled assets make up about 20 percent. Throughout this report information about the endowment鈥檚 investment returns refer solely to the pooled endowment, while information about the endowment鈥檚 total value refers to the pooled endowment and the nonpooled assets. For more information, visit dickinson.edu/financialoperations.