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At least were not LaSalle

Yeah, not a good situation there. But they didn't really live within their means from the beginning. Lasalle has probably the worst facilities in the league (at least Fordham and St. Joe's can play the "history" card with their crappy gyms) and very mediocre fan support at best. Paying Dr. G $1M a year seemed like a disaster from the beginning, even with his one year of success.

It's a shame for them, but that is a school that really should have offered him a raise to $500k a year or so and said "see ya" if he took a better offer somewhere else.
 
Brutal situation... Too bad that they haven't been able to parlay any of their history into their success. Also hard to figure how they have 2 guys in the NBA right now and we have zero.
 
And they're adding three more sports (with scholarships) next year in an effort to boost declining enrollment.
 
Women's golf and men's and women's water polo.

And with an endowment of $87 million, there's not a whole lot to dip into.
 
Is Lasalle the worst capitalized of the A10 schools? I only ask because you're so skilled at searching stuff like this ... do you have a listing of A10 schools by endowment value?
 
If they are running at a $16M deficit and their endowment is $87M they might not be around much longer.
 
http://www.nacubo.org/Documents/EndowmentFiles/2015_NCSE_Endowment_Market_Values.pdf

UR: $2.3 billion
VCU: $1.6 billion
GW: $1.6 billion
SLU: $1.1 billion
UMass: $770 million (systemwide endowment)
Davidson: $682 million
Fordham: $665 million
Dayton: $500 million
Duquesne: $296 million
St. Joe's: $215 million
URI: $131 million
La Salle: $87 million
GMU: $72 million
Bona: $60 million

Obviously there are a lot of other factors at play other than pure dollar amount...endowment per student, state appropriations for public universities, medical schools affecting overall totals for some universities (VCU, GW, SLU, Mass), etc.
 
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SFspidur said:
http://www.nacubo.org/Documents/EndowmentFiles/2015_NCSE_Endowment_Market_Values.pdf

UR: $2.3 billion
VCU: $1.6 billion
GW: $1.6 billion
SLU: $1.1 billion
UMass: $770 million (systemwide endowment)
Davidson: $682 million
Fordham: $665 million
Dayton: $500 million
Duquesne: $296 million
St. Joe's: $215 million
URI: $131 million
La Salle: $87 million
GMU: $72 million
Bona: $60 million

Obviously there are a lot of other factors at play other than pure dollar amount...endowment per student, state appropriations for public universities, medical schools affecting overall totals for some universities (VCU, GW, SLU, Mass), etc.
Click to expand...


Endowment per student:

Code: 
UR        $550,107.63
Dav       $385,310.73
SLU        $82,787.69
GW         $62,468.28
VCU        $51,213.11
Dayton     $44,746.73
Fordham    $43,660.95
Duq        $31,138.23
La Salle   $27,496.84
Bona       $26,737.97
UMass      $10,577.50
URI         $8,077.44
GMU         $2,135.04
 
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I thought MCV's endowment was included in VCU's number, but it's not...MCV has its own $400 million endowment.
 
VCU's endowment was $438 million in 2012 and then $1.32 billion in 2013, because the school decided to include "quasi-endowments" including those for MCV and other entities. Not how most schools determine their endowments, I don't think.



From a 2014 BizSense article:

"Virginia Commonwealth University saw its endowment skyrocket last year, but the figure comes with an asterisk.

The market value of VCU’s endowment grew by almost 203 percent during fiscal 2013, compared with the previous year.

It was valued at about $1.32 billion at the close of fiscal 2013, making it the 61st largest on the NACUBO’s list. In 2012, the university reported an endowment of about $438 million.

A notation on the figure, however, explains the increase was due to a “re-designation of certain long-term investments held by related VCU entities as ‘quasi-endowments.’”

VCU executive director of university relations Pam Lepley said the school’s combined endowment includes funds managed by VCU and related entities, such as the VCU Health System, the Medical College of Virginia Foundation, the VCU School of Business Foundation and the VCU School of Engineering Foundation.

The $877.9 million increase in the endowment’s value last fiscal year occurred because governing boards within VCU deemed some health system and engineering foundation long-term investments to be “quasi-endowments,” following a yearlong analysis of financial structures and cash needs, Lepley said in an email.

An endowment fund’s market value growth takes into account investment gains or losses, withdrawals during the year for a school’s operations, capital expenses and financial aid, management fees, and contributions from donors.

In discussing the performance of their endowments, area universities prefer to put the emphasis on the rate of return of their investments, rather than total market value."
 
Maybe we need to talk to vcu about managing our endowment -- this from a Feb 2012 article (I see others saw the same "funny numbers" I saw:

"With a new study finding education endowments recovering nationwide, VCU is taking steps to further strengthen its investment portfolio.

A 16-member financial structure task force is evaluating ways VCU can manage resources, including cash, debt and investments, in a more unified manner, said David W. Hanson, vice president for finance and administration.

Recommendations are due to the board of visitors in May, said Hanson, who is chairman of the task force with Dominic Puleo, chief financial officer for the VCU Health System.

Hanson told the board this month that the consolidated financial statements for fiscal 2011 show the potential strength of managing the funds holistically. As of June 30, VCU, including all its related entities, held cash and cash equivalents of $372.7 million and short-term investments of $373.7 million.

Those assets and investments, totaling more than $746 million, currently are managed separately, he said.

But Hanson told the board that the task force is looking at how to "unify, pool and manage" its investable assets with the potential to create a significant endowment that could exceed $1 billion. No formal proposal has been made, however.

The market value of VCU's endowment for fiscal 2011 rose to $349.7 million, up from $280.7 million the previous year, according to the 2011 NACUBO-Commonfund Study of Endowments. The endowment for the Medical College of Virginia Foundation, a separate entity, had a market value of $256.4 million, up from $214.9 million.

Neither total reflects two major gifts to VCU that were announced in the last calendar year: a $45 million bequest from the Glasgow trusts and $25 million from philanthropists James W. and Frances G. McGlothlin."
 
I have no idea whether their new accounting is considered the standard among institutions or not, but my hunch is if NACUBO is letting them claim that figure, it's at least got the air of legitimacy.
 
Wasnt a big part of VCU's new math including their real estate in their endowment calculations?

It would be like us putting a fair market value on Marsh Hall, despite the fact that there is no market for Marsh.
 
MolivaManiac said:
Wasnt a big part of VCU's new math including their real estate in their endowment calculations?

It would be like us putting a fair market value on Marsh Hall, despite the fact that there is no market for Marsh.
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Mo, I believe you are right. OSC
 
MolivaManiac said:
Wasnt a big part of VCU's new math including their real estate in their endowment calculations?

It would be like us putting a fair market value on Marsh Hall, despite the fact that there is no market for Marsh.
Click to expand...

That was my recollection.
 
Eight Legger said:
I think if we were to calculate our endowment the same way they did, ours would be approaching eleventy billion dollars.
Click to expand...

Um, that is 1.2 zillion in VCU math. VCU could pay off the national debt and still have enough dough left over to purchase Denmark with their endowment. And lord knows how much more it will go if they are able to obtain the abandoned Hess Station at Broad and Boulevard, that has to be at least .5 zillion right there.
 
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MolivaManiac said:
Wasnt a big part of VCU's new math including their real estate in their endowment calculations?

It would be like us putting a fair market value on Marsh Hall, despite the fact that there is no market for Marsh.
Click to expand...

I would expect their concrete number to be 650-700 million. The rest are items that are reasonable as long term numbers but aren't necessarily permanent.

I remember the Fordham people asking if they should include their real estate arrangements in the same manor...
 
Endowments can be tricky when you view the numbers. A high % of the figure shown is actually not under the control of the board which manages it. There are annuities, trusts, art work, dedicated specific scholarships, etc., that are not liquid and not available. UR is in great hands with Spider Fund managing it. At $2.4 billion currently, it is also a huge number for an institution our size. A typical annual return sought by endowments is 8%. Any school which dips into its endowment principal and potentially robs academics is making a big mistake.
 
So if I've done my math correctly, that is $192,000,000 per year income from the endowment.
 
73CPA said:
Endowments can be tricky when you view the numbers. A high % of the figure shown is actually not under the control of the board which manages it. There are annuities, trusts, art work, dedicated specific scholarships, etc., that are not liquid and not available. UR is in great hands with Spider Fund managing it. At $2.4 billion currently, it is also a huge number for an institution our size. A typical annual return sought by endowments is 8%. Any school which dips into its endowment principal and potentially robs academics is making a big mistake.
Click to expand...
Funny how these ultra liberal universities are so conservative with their own money, unlike what they preach in the class room.
 
SFspidur said:
Women's golf and men's and women's water polo.

And with an endowment of $87 million, there's not a whole lot to dip into.
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Poor LaSalle. I hope they don't go belly up !

I am a fan of private schools as opposed to state institutions. Outside of UR (my favorite), my 2nd favorite school is Wake Forest. My 3rd favorite is the University of Southern California. I also am interested in the success of Baylor (the largest Baptist university in the world), TCU, Furman, Duke, and Vanderbilt (the only private school in the SEC).
 
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know that UR has been given/owned, several very pricey parcels of land in the west end of richmond and we proabably included them in our endowment but maybe not, sure someone will know for sure.
 
WebSpinner said:
know that UR has been given/owned, several very pricey parcels of land in the west end of richmond and we proabably included them in our endowment but maybe not, sure someone will know for sure.
Click to expand...

Yes. But they are parcels of land that could be sold for a profit. I would imagine we have plenty of real estate in our portfolio.

Is VCU going to sell dorms or science labs or the business school? As much as I'd love to see them sell their B School because they are having liquidity problems, I just can't see it happening.
 
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yep, two different assets. feel that our underground tunnels would bring a very high price if placed on the market, as would our lake.
 
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Poachers would probably pay top dollar for the gigantic 200 year old turtle in the lake too.
 
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