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Office of Business and Finance

Investments

The Business Office is responsible for endowment, trusts and other investments of the college.

Endowment

Lewis & Clark College, formerly known as Albany Collegiate Institute, was founded in 1867 when Albany residents raised $8,000 in cash and promissory notes to erect a building for the school on land donated by Thomas and Walter Monteith. Over the years, thousands of donors have established endowed funds for scholarships, professorships, and many other purposes. Today, Lewis & Clark’s endowment comprises of nearly 70 funds with a market value of $213.6 million as of May 31, 2013.   The endowment at Lewis & Clark plays a vital role in supporting the college’s educational mission.

The long-term financial objective for the endowment is to preserve and enhance the value of the principal in order to provide a stable stream of earnings in perpetuity supporting the College’s spending needs. The College’s Investment Committee provides oversight for the endowment investment management. Investment decisions are made with the intent of  obtaining returns sufficient to grow the inflation-adjusted value of the endowment in perpetuity. The approved investment and spending policies listed below serve as guidelines for the endowment investment program.

  • Investment Policy - sets the asset allocation, and is reviewed regularly and updated as needed.

  • Spending Policy - spends 4.5 percent of the sixteen quarter moving average market value of the Endowment Fund annually for the designated purposes of the funds.The College may spend an additional 0.5 percent annually as determined by operational results.

May 31, 2013 Market Value & Asset Allocations
Asset Allocation

Policy

Allocation

Range

Actual

Allocation

Market Value

(000’s)

Domestic Common Stock 10%-20% 15.1%  $32,191
International Common Stock 18%-28% 25.2% $53,808
Marketable Alternatives 10%-30% 23.5%  $50,182
Venture Capital/Private Equity      0%-20% 5.9%  $12,623
Inflation Protection 5%-25% 7.3%  $15,608
Fixed Income 5%-25% 16.8% $35,960
Opportunistic 0%-5% 3.6%  $7,739
Cash and Other 0%-10% 2.6%  $5,484
Total Endowment Value 100% 100% $213,595

 

Endowment Managers as of May 31, 2013

Trusts

Charitable Remainder Trusts, a tool of planned giving, are accounted for in Business Office. Trustors/ Donors may wish to contact The Office of Development - Planned Giving. Beneficiaries are welcome to contact Steve Kirkwood 503-768-7798; email: kirkwood@lclark.edu.

Giving to the College

Office of Business and Finance

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