The university's $370 million endowment saw an energy impact of less than 2 percent on its value as oil and gas prices fell dramatically from last September to the end of December. Jack Rich, ACU's chief investment officer, said initially the endowment has not been hurt that significantly by the drop in energy prices despite having a portion of ... [Read More…]
ACU investigates land development
Officials in the Endowment Office invited members of the community from ACU, HSU, Hendrick Health Center, law firms, accounting firms and banks to talk about a community initiative on the northeast side of Abilene. The proposed residential area would replace the Zoe Center off East N. 10th Street. The Zoe Center is a 100-acre plot with a ... [Read More…]
‘Times’ points to ACU’s endowment
ACU was recognized in "The New York Times" for outstanding endowment performance. The National Association of College and University Business collected the data of this years' endowment performance amongst colleges and the results have brought ACU into the spotlight. According to "The New York Times", ACU's endowment fund had a return of 9 ... [Read More…]
Friends, faculty support Jinkerson endowment
The ACU College of Business faculty is working with the Jinkerson family to create the Darryl and Cindy Jinkerson Study Abroad Endowment. Dr. Phil Vardiman, associate professor of management in the College of Business, approached the Jinkerson family with the idea to start a study abroad scholarship in Dr. Darryl Jinkerson's honor. Jinkerson died ... [Read More…]
University endowment remains strong
Despite a summer of stock market extremes, the university boasts numbers of a healthy endowment. ACU's endowment is currently valued at $290 million-$295 million, placing the university among the top 250 in the country, said Jack Rich, chief investment officer. "It's always hard to know day to day how our investments are doing," Rich said. "But ... [Read More…]
University endowment increases over year
ACU's endowment has increased despite the volatility of the stock market last year. "The movement of the stock market influences all markets, but there's not a direct correlation between what happens in the stock market and what happens in our portfolio," Jack Rich, chief investment officer, said. In the year-long period ending June 30, the ACU ... [Read More…]
Endowment fund sets records in Texas, nation
By Mallory Schlabach, Editor in Chief The university's endowment fund reached its goal of $250 million with three weeks to spare and achieved two records in the process. Ten years ago, Dr. Money, president of the university, and the Board of Trustees met to set a Centennial Vision. The endowment fund was approximately $70 million, said Jack ... [Read More…]
University endowment showing growth
By Jonathan Smith, Editor in Chief For the first time in its history, the university's endowment climbed above $200 million last week after a $4 million gift came through, said Jack Rich, executive vice president of the university. After a strong year for donations to the university and investment returns, Rich estimates the endowment will have ... [Read More…]
Net worth increases $21 million: Operating deficit half of what once was anticipated last year
By Jonathan Smith, Editor in Chief The university realized a $21 million increase in net worth for the 2003-04 school year-the largest increase in net worth since 2000-said Phil Schubert, vice president of finance. Strong, yearlong investment gains in a market that had suffered for all investors the previous two years allowed the endowment to ... [Read More…]
Endowment loses $14M, but ACU still strong
By Paul A. Anthony, Editor in Chief This year's stock market slump cost the university more than $14 million, but administration officials said the loss shouldn't affect students' scholarships or next year's tuition increase. The university's endowment, which on June 1 stood at $145.5 million before the Sept. 11 terrorist attacks and a wave of ... [Read More…]