Damn, SU announced today that it had raised

[rrlbees]

$1B for academics. Send some of that towards the football facility.

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[Bortukal]

So no tuition increases for a few years then? :-D

 

[DownTheField]

$1B for academics. Send some of that towards the football facility.

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Weren't we at or close to $1B before the endowment took a big hit?


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[SouthCampusHero]

Weren't we at or close to $1B before the endowment took a big hit?


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Yes. The value of SU's endowment dropped 33.2% in 2009 to $658M. From a percentage standpoint, it was the second biggest hit in the country (a value of $327M...which was peanuts compared to Harvard's $10.9B hit, or 29.8% drop). We obviously had quite the risk profile then...and I believe we still do. It would be interesting to find out what the realized vs. unrealized losses were. From what I understand, we were/are invested heavily in PE, VC and hedge funds.


http://www.cnbc.com/id/35199757/Biggest_2009_College_Endowment_Losses?slide=15

 

[Crusty]

Short term VC and PE valuations can be rather meaningless. Not so much with HF. Wonder what the splits were.

 

[SouthCampusHero]

Some more info here from SU's website: http://campaign.syr.edu/about-the-campaign/our-endowment/

 

[SouthCampusHero]

Short term VC and PE valuations can be rather meaningless. Not so much with HF. Wonder what the splits were.

Splits are on Page 7.

http://comptroller.syr.edu/comptroller/uploads/2011_Annual_Report1.pdf

 

[MaxwellCuse]

We are talking apples and oranges (so to speak) here. The endowment was indeed valued at close to $1 billion in 2008. Much of the funds included in the endowment were monies raised and reinvested prior to 2005.

The $1 billion referenced in the article was raised in a 7-year capital campaign between 2005 and today. Some of what was raised will end up in the endowment. Other gifts will be placed in restricted funds. I can't tell how much, if any, has been deposited in unrestricted funds where it might be used to help underwrite Athletics Department projects (although I would think there are posters here who can help fill in the blanks).

Anyway, congratulations to SU for hitting the billion dollar mark. And congratulations on reversing the downward trend on the US News college rankings (I believe we were tied for #58 on the national university list).

 

[SouthCampusHero]

We are talking apples and oranges (so to speak) here. The endowment was indeed valued at close to $1 billion in 2008. Much of the funds included in the endowment were monies raised and reinvested prior to 2005.

The $1 billion referenced in the article was raised in a 7-year capital campaign between 2005 and today. Some of what was raised will end up in the endowment. Other gifts will be placed in restricted funds. I can't tell how much, if any, has been deposited in unrestricted funds where it might be used to help underwrite Athletics Department projects (although I would think there are posters here who can help fill in the blanks).

Anyway, congratulations to SU for hitting the billion dollar mark. And congratulations on reversing the downward trend on the US News college rankings (I believe we were tied for #58 on the national university list).

I dont think anyone intentionally made an apples to oranges comparison. A poster asked about the well publicized losses in the endowment fund that occurred in 2009 and I provided some links with info about it.

 

[llandz]

I just donated $44 to the football program. I did it thru syr.edu but checked off athletics, and then in the notes put for football in honor of a good effort against USC. I plan to keep doing that . If we all do that from time to time, it will help them get money for facilities. I am not sure that all of the raised money was for academics, as my other donation this year, I also checked off athletics, and that was part of the capital campaign.

 

[OrangeinBoston]

We are talking apples and oranges (so to speak) here. The endowment was indeed valued at close to $1 billion in 2008. Much of the funds included in the endowment were monies raised and reinvested prior to 2005.

The $1 billion referenced in the article was raised in a 7-year capital campaign between 2005 and today. Some of what was raised will end up in the endowment. Other gifts will be placed in restricted funds. I can't tell how much, if any, has been deposited in unrestricted funds where it might be used to help underwrite Athletics Department projects (although I would think there are posters here who can help fill in the blanks).

Anyway, congratulations to SU for hitting the billion dollar mark. And congratulations on reversing the downward trend on the US News college rankings (I believe we were tied for #58 on the national university list).

Great achievement. And, these funds should underwrite academics. What I don't get is why the numerous well-heeled Fball players haven't pitched in to fund the new football facility. Maybe Floyd has been working this angle?

 

[reedny]

We are talking apples and oranges (so to speak) here. The endowment was indeed valued at close to $1 billion in 2008. Much of the funds included in the endowment were monies raised and reinvested prior to 2005.

The $1 billion referenced in the article was raised in a 7-year capital campaign between 2005 and today. Some of what was raised will end up in the endowment. Other gifts will be placed in restricted funds. I can't tell how much, if any, has been deposited in unrestricted funds where it might be used to help underwrite Athletics Department projects (although I would think there are posters here who can help fill in the blanks).

Anyway, congratulations to SU for hitting the billion dollar mark. And congratulations on reversing the downward trend on the US News college rankings (I believe we were tied for #58 on the national university list).

There's a pretty obvious connection between the ratings decline and the capital campaign. SU knew it had some serious facilities issues -- not the least of which was the law school's slide (small law library, teaching space, no dorms, etc..) from 1st to 2d-3d tier. It's great that these needs are now being addressed and that the campaign was so remarkably successful in the midst of a recession. Hopefully, Dineen Hall and the other projects will return SU's programs to their rightful positions of prominence and restore SU's academic mission (as opposed to the rebuilding of the City of Syracuse) as the Chancellor's first priority.

 

[MaxwellCuse]

I dont think anyone intentionally made an apples to oranges comparison. A poster asked about the well publicized losses in the endowment fund that occurred in 2009 and I provided some links with info about it.

I don't think it was intentional either so my apologies if anyone took it the wrong way. I was actually just clarifying that the billion dollar endowment and billion dollar capital campaign were not necessarily the same pots of money.

 

[Whitey23]

And everyone was against QE3...

 

[xc84]

Yes. The value of SU's endowment dropped 33.2% in 2009 to $658M. From a percentage standpoint, it was the second biggest hit in the country (a value of $327M...which was peanuts compared to Harvard's $10.9B hit, or 29.8% drop). We obviously had quite the risk profile then...and I believe we still do. It would be interesting to find out what the realized vs. unrealized losses were. From what I understand, we were/are invested heavily in PE, VC and hedge funds.


http://www.cnbc.com/id/35199757/Biggest_2009_College_Endowment_Losses?slide=15

I think the next year they had one of the highest returns though.

http://www.syracuse.com/news/index.ssf/2011/01/syracuse_university_endowment.html

 

[Moontan]

What I don't get is why the numerous well-heeled Fball players haven't pitched in to fund the new football facility. Maybe Floyd has been working this angle?

How do you know that they haven't? Some have made significant donations to prior projects... you can only go to a well so many times before it runs dry.

You tend not to hear about fund raising details until the entire amount has been raised. When that happens we'll know who the big donors were. Perhaps Al Davis left some ca$h... we'll see.