In 2018 the Department for Education published "Supporting excellent school resource management: strategy." This set out the Department's commitment to helping schools improve outcomes for pupils by making every pound count and getting the best value from their resources. This strategy underpins the School Resource Management (SRM)…

A phenomenon with far-reaching effects on nonprofit investment management and governance has become a little-noticed yet powerful force in boardrooms over the past decade. Despite its wide-ranging implications, this development has largely gone undocumented. This paper seeks to draw attention to this change and its implications, and to trace a…

College endowments have beaten the market so consistently in recent years, it is not surprising that individuals would like to take advantage of that institutional wisdom to invest their own money. Increasingly, many are. A small but growing number of universities are trying to entice donors to invest their trusts alongside college endowments,…

Managers of university endowment funds are paying closer attention to investing in "green" industries, commonly bundled under the umbrella "cleantech." Cleantech offers the possibility of buying in while prices are low "and" making a "green" investment play, but it also harbors the risks inherent in any emerging industry. Cleantech has varying…

The University of San Francisco School of Law is one of at least a dozen law schools in the United States where students represent small investors facing big headaches, often because their brokers were more interested in maximizing their own commissions than in giving sound advice. Supervised by law professors, teams of students file motions,…

When Commonfund and the National Association of College and University Business Officers (NACUBO) announced in late 2008 that they would join forces to combine their two endowment studies, which had historically been fielded and reported separately, they had high hopes for the venture, but those hopes were tempered with caution. The financial…

This article reports that as many as five colleges or charitable foundations whose endowments have suffered significant investment losses or were unable to access money in their accounts in recent months are considering legal action against their brokers or investment managers, alleging misrepresentation of risk or mismanagement. Jacob H.…

Discusses the use of short-term trusts to reduce federal income tax liability and outlines the basic legal requirements governing such trusts. (JG)

The stock-market crash of 1987 and its effect on college endowment funds are discussed. An informal survey found the market value of nine college endowments had slipped over the past year. The experiences of several colleges and universities are described. (MLW)

Hedge funds are the rock stars of today's financial world. These slightly regulated pools of equity, which are open only to rich players, are managed through secretive and sophisticated investment strategies. Although the risks are high, so are the potential benefits. Despite the risks, many colleges and universities have chosen to invest heavily…

In 1968 the Ford Foundation appointed an Advisory Committee on Endowment Management to study the management of college and university endowment funds with an eye toward the accounting and legal principals of more unconventional investing. The Committee concluded that gains from endowments need not be treated as principal of NACUBO sees this…

In 1969, in a report to The Ford Foundation entitled "The Law and the Lore of Endowment Funds," William L. Cary and Craig B. Bright summarized the results of an extensive survey of the law governing college and university endowment funds. The key conclusion of the report is that "there is no substantial authority under existing law…

Complexities in managing TIAA-CREF contracts are reviewed. Attention is directed toward participation, period considerations, selection of retirement age, retirement income transition, estate considerations and beneficiaries, voluntary additional contributions, and supplemental retirement annuity contracts. (LBH)

This report relates the operations of the Manitoba Teachers' Retirement Allowances Fund for its fiscal year ended on December 31, 1982. A copy of the Provincial Auditor's Report on the Accounts is attached as well as the related financial statements. Included in the report are: (1) graphs displaying notable financial and statistical items; (2)…

This booklet is part of a series of monographs focusing on conflicts of interest in different sectors of the financial industry. This particular study examines a number of conflict-of-interest problems related to the management of public pension funds. In his discussion, the author analyzes a variety of related problems, such as the selection of…