northwestern university endowment

The freshman retention rate for that year was 98%. [29], In 1873 the Evanston College for Ladies merged with Northwestern, and Frances Willard, who later gained fame as a suffragette and as one of the founders of the Woman's Christian Temperance Union (WCTU), became the school's first dean of women (Willard Residential College, built in 1938, honors her name). [138] The Kellogg School of Management's MBA, the School of Law's JD, and the Feinberg School of Medicine's MD are the three largest professional degree programs by enrollment. The Feinberg School of Medicine was named in 2002. Guided by the committees policies, the Universitys Investment Office invests in a widely diversified pool of assets. Politics & Policy is dedicated to the analysis of current events and public policy. Regular enrollment fell dramatically, but the school opened high-intensity, short-term programs that trained over 50,000 military personnel, including future president John F. Kennedy. Northwesterns endowment declined to $14.4 billion this year from almost $15 billion last year, according to an email from University President Michael Schill to members of NUs community Thursday. [75], Students are formally involved in the university's administration through the Associated Student Government, elected representatives of the undergraduate students, and the Graduate Student Association, which represents the university's graduate students. The endowment, for instance, helped Northwestern award $160 million in financial aid to undergraduates in the 2016-2017 academic year alone, while the funds also back grants for low-income students and unpaid internship programs that increase access to valuable learning opportunities. $238 million is the current value of Northwestern's scholarship endowment $800 million is our scholarship endowment goal Immediate-Use Gifts These expendable gifts create new scholarship funds and last until all principal funds are distributed to students. [136] Northwestern also enrolls the 9th-most National Merit Scholars of any university in the nation. This pledge was a first among U.S. higher education endowments and a natural extension of Harvard's ongoing effortsthrough its teaching, research, and operationsto prepare for and accelerate the necessary . [25], John Evans, for whom Evanston is named, bought 379 acres (153ha) of land along Lake Michigan in 1853, and Philo Judson developed plans for what would become the city of Evanston, Illinois. [68] Like other universities with campuses in Doha, Northwestern has received criticism for accepting money from a country with a poor human rights record. Northwestern University had a dental school from 1891 to May 31, 2001, when it closed. University of Chicago - $10.0 billion 12. The Chief Investment Officer is responsible for the day-to-day oversight of the Investment Office, and is supported by a dedicated team of investment professionals. Its faculty, alumni, and students have made significant contributions to fields such as marketing, management . The email, labeled 2023 Annual Financial Update, included information on the Universitys profit margin, net assets and financial goals. [34] The merger plan was ultimately dropped. The portfolio asset allocationtable below illustrates the actual asset allocation of the Endowment as of June 30, 2022, along with the target weights developed by the Investments Committee. Duke University - $8.5 billion 13. The university responded with two salary cuts of 10 percent each for all employees. Northwestern's Growing Endowment: What Does It Mean? The University's investments historically have grown at a rate exceeding this objective. [49][50] In 2014, President Barack Obama delivered a seminal economics speech at the Evanston campus. [186] The two most notable productions are The Waa-Mu Show, an original musical written and produced entirely by students,[187] and the Dolphin show. Investments in venture capital, primarily early-stage investments, that simultaneouslyoffer the highest return and the highest risk of any asset class in theLong-Term Balanced Pool. "This is an extraordinary moment for Northwestern," President Morton Schapiro said. Contact Northwestern Gift Planning at 800-826-6709 or giftplanning@northwestern.edu to discuss endowed gifts. The Northwestern library system consists of four libraries on the Evanston campus including the present main library, University Library, and the original library building, Deering Library; three libraries on the Chicago campus; and the library affiliated with Garrett-Evangelical Theological Seminary. The faculty also includes Holocaust denier Arthur Butz[225] and Richard Bruce Silverman, inventor of Lyrica (Pregabalin). Chicago. Northwestern alumni involved in athletics include Chicago Bulls and Chicago White Sox owner Jerry Reinsdorf, sprinter Betty Robinson, Rick Sund (NBA), Billy McKinney (NBA), Mark Loretta (MLB), Joe Girardi (MLB), Luis Castillo (NFL), Ernie Adams (NFL), Paddy Driscoll (NFL), Otto Graham (NFL), Anthony Walker Jr. (NFL), Mike Adamle (NFL), Mike Kafka (NFL), Trevor Siemian (NFL), Greg Newsome II (NFL), Luke Johnsos (NFL), six-time Olympic medalist Matt Grevers, Irv Cross (NFL) and PGA Tour star Luke Donald. Northwestern University is a private research university in Evanston, Illinois. The Investment Office is responsible for managing the University's financial assets of approximately $14.1 billion, in accordance with policies established by the Investments Committee of the Board of Trustees. [183], Several international nongovernmental organizations were established at Northwestern, including the World Health Imaging, Informatics and Telemedicine Alliance, a spin-off from an engineering student's honors thesis. If you include Northwestern in your plans, please use Northwestern's legal name and federal tax ID number. Northern Trust. ", Beneficiaries of the Endowment Fund Payout. Northwestern offers both traditional residence halls and residential colleges for students who share a particular intellectual interest. [218] Notable faculty include 2010 Nobel Prizewinning economist Dale T. Mortensen;[219] nano-scientists Chad Mirkin and Samuel I. Stupp; Benjamin Franklin Medal in Electrical Engineering winner Manijeh Razeghi; Tony Award-winning director Mary Zimmerman; management expert Philip Kotler; King Faisal International Prize in Science recipient and Nobel laureate Sir Fraser Stoddart; Steppenwolf Theatre director Anna Shapiro; sexual psychologist J. Michael Bailey;[220] Federalist Society co-founder Steven Calabresi;[221] former Weatherman Bernardine Rae Dohrn;[222] ethnographer Gary Alan Fine;[223] Pulitzer Prizewinning historian Garry Wills;[224] American Academy of Arts and Sciences fellow Monica Olvera de la Cruz and MacArthur Fellowship recipients Stuart Dybek, Jennifer Richeson, Amy Rosenzweig, John A. Rogers, Mark Hersam, William Dichtel, and Dylan Penningroth. In another sign of the University's fiscal strength, our endowment recorded a gain of 37% during the past fiscal year, reaching $14.9 billion. Northwestern is one of five private AAU members to compete in NCAA Power Five conferences (the other four are Duke, Stanford, USC, and Vanderbilt) and maintains a 98% NCAA Graduation Success Rate, the highest among Football Bowl Subdivision schools. With a commitment of $50,000 or more, donors are invited to name the scholarship. Endowments below $25 million averaged a 4.1 percent spending rate, and endowments greater than $1 billion averaged 4.5 percent. [72] Northwestern has had seventeen presidents in its history (excluding interim presidents). Endowments generate nearly $50 million annually for student scholarships and cover the cost of other priorities that might otherwise be borne by tuition and tax dollars. Northwestern University's endowment posted a 42% annual return as of the . [210][211] Elisabeth Leamy is the recipient of 13 Emmy awards[212][213][214] and four Edward R. Murrow Awards.[214]. [143] 12 of Northwestern's varsity programs have had NCAA or bowl postseason appearances. [51] In 2015, Queen Mxima and King Willem-Alexander of the Netherlands visited Northwestern to announce research collaborations between Northwestern and several Dutch institutions focused on the study of aging. [62] Through the Medill School of Journalism and School of Communication, NU-Q offers bachelor's degrees in journalism and communications respectively. . [120] Northwestern also supports nearly 1,500 research laboratories across two campuses, predominantly in the medical and biological sciences. As of 2022, Northwestern University endowment assets were listed at $15.856 billion. According to the 2015 NACUBO-Commonfund Study of Endowments, Duke has an endowment of about $7.3 billion, Notre Dame has an endowment around $8.6 billion, the University of Pennsylvania has an endowment of about $10.1 billion, and . Northwestern fields 19 intercollegiate athletic teams (8 men's and 11 women's) in addition to numerous club sports. In 2018, the school opened the Walter Athletics Center, a $270 million state-of-the-art lakefront facility for its athletics teams. The annual 30-hour event is among the most widely attended events on campus. The four most substantial private endowments those of Harvard, Yale, Stanford, and Princeton increased in value from $127.24 billion to $171 billion within a single year. Cornell University - $8.9 billion 15. Contact Northwestern Gift Planning at 800-826-6709 or giftplanning@northwestern.edu for additional information on appreciated securities. Northwestern University ranked 23rd in the United States, 28th in the global 2023 rating, and scored in the TOP 100 across 174 research topics. Among its Ivy League peers, Brown. [74] Kathleen Haggerty assumed the role of provost for the university on September 1, 2020. [82], Northwestern is among the most selective universities in the United States, and admissions are characterized as "most selective" by U.S. News & World Report. Her visit raised a total of $1.5 million for cancer research. Given that the value fluctuates, we should not take on additional expenses based solely on one year's outsized returns. The Charter also authorizes the Trustees to "place out at interest, or otherwise depose of "property" for the use of said institution in such manner as to them shall seem most beneficial.". Legal Name: Northwestern University. All landscape waste at the university is composted. Its total value is now $8.5 billion. [46][47] On January 11, 2003, in a speech at Northwestern School of Law's Lincoln Hall, then Governor of Illinois George Ryan announced that he would commute the sentences of more than 150 death-row inmates. Diversified portfolio of global fixed-income investments, including both sovereignand corporate bonds, providing a highly liquid, relatively low-risk source offunding for the University. Notable collections in the library system include the Melville J. Herskovits Library of African Studies, the largest Africana collection in the world,[128] an extensive collection of early edition printed music and manuscripts as well as late-modern works, and an art collection noted for its 19th and 20th-century Western art and architecture periodicals. Through this partnership, the university provides scholarships to students who "graduate from Chicago Public Schools, get their associate degree from one of the city's community colleges, and then get admitted to a bachelor's degree program. match their passions and interests with a permanent wellspring of support. The Ohio State University endowment is a long-term investment pool (LTIP) of gifted endowment funds and university funds, totaling more than $5.2 billion. The Committee is also ultimately responsible for overseeing the implementation of these policies. In the years since Northwesterns founding in 1851, alumni, parents, and friends have generously supported the Universitys efforts to provide an unparalleled education for its students and conduct cutting-edge research in a range of important areas. Residence halls include Allison Hall, Bobb-McCulloch, Elder Hall, Foster-Walker Complex (commonly referred to as Plex), Rogers House, and Shapiro Hall (formerly known as 560 Lincoln) among others. The Innocence Project has since exonerated 10 more men. The IMC is charged with managing the bulk of the University's endowments, also known as managed assets. In the 1920s, Northwestern became one of the first six universities in the United States to establish a Naval Reserve Officers Training Corps (NROTC). [103][118] Northwestern's schools of management, engineering, and communication are among the most academically productive in the nation. The Northwestern University endowment fund shrank by about $200 million during the school's 2019 fiscal year, reflecting below-target returns and higher-than-usual spending in the wake of a $94 . In June 1933, Robert Maynard Hutchins, president of the University of Chicago, proposed a merger of the two universities, estimating annual savings of $1.7 million. In 1972, the student body voted to change the official nickname to "Purple Haze," but the new name never stuck.[146]. Reporting to the Associate Dean, Alumni Relations and Development, the Senior Managing Director for Development will lead a team of major gift officers focused on raising gifts . One in 10 institutions said their endowment was worth between $501 million and $1 billion, and more than half57 percentof institutions reported an endowment between $51 million and $500 million. Our office conducts due diligence in manager searches and closely monitors external investment managers hired to invest the funds. [164][165] An autopsy revealed that he had ephedrine, a stimulant banned by the NCAA, in his system, which prompted Northwestern to investigate the prevalence of stimulants and other banned substances across all of its athletic programs. Northwestern's professional schools and a number of its affiliated hospitals are located approximately four blocks east of the Chicago station on the CTA Red Line. [65] In February 2016, Northwestern reached an agreement with the Qatar Foundation to extend the operations of the NU-Q branch for an additional decade, through the 20272028 academic year. The Feinberg School of Medicine (previously the Northwestern University Medical School) has produced a number of notable graduates, including Mary Harris Thompson, Class of 1870, ad eundem, first female surgeon in Chicago, first female surgeon at Cook County Hospital, and founder of the Mary Thomson Hospital; Roswell Park, Class of 1876, prominent surgeon for whom Roswell Park Comprehensive Cancer Center in Buffalo, New York, is named; Daniel Hale Williams, Class of 1883, performed the first successful American open heart surgery; only black charter member of the American College of Surgeons, Charles Horace Mayo, Class of 1888, co-founder of Mayo Clinic; Carlos Montezuma, Class of 1889, one of the first Native Americans to receive a Doctor of Medicine degree from any school, and founder of the Society of American Indians; Howard T. Ricketts, Class of 1897, who discovered bacteria of the genus Rickettsia, and identified the cause and methods of transmission of rocky mountain spotted fever; Allen B. Kanavel, Class of 1899, founder, regent, and president of the American College of Surgeons, internationally recognized as the founder of modern hand and peripheral nerve surgery; Robert F. Furchgott, Class of 1940, recipient of a Lasker Award in 1996 and the 1998 Nobel Prize in Physiology or Medicine for his co-discovery of nitric oxide; Thomas E. Starzl, Class of 1952, who performed the first successful liver transplant in 1967 and received the National Medal of Science in 2004 and a Lasker Award in 2012; Joseph P. Kerwin, first physician in space, flew on the Skylab 2 mission and later served as director of Space and Life Sciences at NASA; C. Richard Schlegel, Class of 1972, developed the dominant patent for a vaccine against human papillomavirus (administered as Gardasil) to prevent cervical cancer; David J. Skorton, Class of 1974, cardiologist who became president of Cornell University in 2006; and Andrew E. Senyei, Class of 1979, inventor, venture capitalist, and entrepreneur, founder of biotech and genetics companies, and a university trustee. The Campaign for Northwestern, raised over $6 billion from more than 174,000 members of the Northwestern community. Northwestern's School of Communication is well known for producing successful actors, actresses, playwrights, and film and television writers and directors. President Morton Schapiro, who has led Northwestern University through one of its most transformative and sustained periods of academic growth, announced today (March 4) that he will conclude his tenure on Aug. 31, 2022. College is an expensive investment, meaning many students may need to rely on financial aid in the form of a university's endowments. The endowment helps fund financial aid for low-income students, cutting-edge research, faculty positions, student scholarships and more programs to support Emory's mission. [71] The board delegates its power to an elected president who serves as the chief executive officer of the university. Northwestern University ($8,244,818,000) Since Schapiro took office in September 2009 as the 16th president in Northwestern's 170-year history, the University has . New construction and renovation projects will be designed to provide at least a 20% improvement over energy code requirements where feasible. provide a lasting tribute for someone who has inspired them or changed their lives. Media Relations. Benjamin Miller, CFA Manager . It is also prominent in law and medicine. A sign welcoming students hangs from a building at Tulane University in New Orleans. The university recycles over 1,500 tons of waste, or 30% of all waste produced on campus, each year. [43][44][45], As admissions to colleges and universities grew increasingly competitive in the 1990s and 2000s, President Henry S. Bienen's tenure saw a notable increase in the number and quality of undergraduate applicants, continued expansion of the facilities and faculty, and renewed athletic competitiveness. From time to time, however, and with input from the Investment Committee, the officemay deviate from long-term targets.ere is a text version of the 2016 Portfolio Asset Allocation Chart. The university also maintains a campus in Education City, Qatar and academic centers in Miami, San Francisco, and Washington, D.C.[13][14][15]. Our top priority in this years budget is to provide overall compensation that is higher than our historical average, Schill wrote in the email. 2023 annual Financial Update, included information on the Universitys profit margin, net assets and goals... 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