ANNUAL REPORT (PDF Version) - Moravian College
ANNUAL REPORT (PDF Version) - Moravian College
ANNUAL REPORT (PDF Version) - Moravian College
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
4<br />
Endowment<br />
The fi nancial markets, while better than in 2009, fl uctuated signifi cantly during the year. The total return on investment<br />
for the endowment fund for the fi scal year, net of fees, was 7.0%. The target allocations remained stable at 50% growth<br />
assets (domestic, international and private equity), 30% risk reduction assets (hedge funds and fi xed income) and 20%<br />
infl ation protection assets (real estate and TIPS). Several manager changes were made which are expected to improve<br />
future performance. The market value of the endowment at June 30, 2010 was $74 million, up from $71 million in 2009.<br />
In fi scal year 2009-2010 the endowment provided $2.8 million in support for the <strong>College</strong> operations and $1.1 million in<br />
support for the Seminary operations. The endowment spending rate has been held at 4.5% for the past six years and will<br />
be the same for 2010-2011.<br />
Total $81,545 $93,920 $92,921 $71,124 $74,066<br />
80000<br />
70000<br />
60000<br />
50000<br />
40000<br />
30000<br />
20000<br />
10000<br />
0<br />
$66,559<br />
2005-06<br />
<strong>Moravian</strong> <strong>College</strong> and <strong>Moravian</strong> Theological Seminary<br />
Market Value of Endowment (in thousands)<br />
Five-Year Comparison<br />
2005-2010<br />
$14,946<br />
$74,033<br />
$19,887<br />
2006-07<br />
$69,015<br />
$23,906<br />
2007-08<br />
$52,639<br />
$18,485<br />
2008-09<br />
$54,722<br />
$19,344<br />
2009-10<br />
<strong>College</strong><br />
Seminary
Change language