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Spelman College Endowment
Spelman College Endowment is a other headquartered in United States (North America). Ranked #273 in the 2026 Dealroom Power Law LP Ranking by realised power-law score across its venture commitments.
Historical Background
- Spelman College was founded in 1881 as the Atlanta Baptist Female Seminary. The college's endowment fund was established in 1927 under the leadership of the institution's first president, Florence M. Read.
- The institution was renamed Spelman Seminary in 1884 in honor of Laura Spelman Rockefeller and her parents, who were activists in the antislavery movement. The relationship with the Rockefeller family was crucial in the early growth of the endowment.
Source of Capital
- The endowment's capital is primarily derived from donations from individuals, foundations, and corporations.
- A significant portion of the endowment is composed of donor-restricted funds, with the remainder being board-designated. The endowment has received substantial gifts, including from philanthropists like Ronda Stryker and William Johnston, and the Lilly Endowment Inc.
Major Events
- In January 2024, the endowment received a $100 million gift from Ronda Stryker, a long-serving member of Spelman's Board of Trustees, and her husband, William Johnston. This represents the largest single donation in the history of any Historically Black College or University (HBCU).
- In November 2022, the college appointed TIFF Investment Management as its outsourced chief investment officer (OCIO) to manage the endowment, which was valued at approximately $500 million at the time.
Allocation Strategy
- The endowment has a history of investing in alternative strategies, including private capital partnerships, dating back to 1982 when it established the Spelman College Special Ventures Fund for this purpose.
- Of the recent $100 million donation, $75 million is allocated to endowed scholarships, with the remaining $25 million designated for developing an academic focus on public policy and democracy and other strategic needs.
- The endowment utilizes external investment managers and has worked with consultants such as Cambridge Associates. The board has publicly stated a goal to grow the endowment to over $1 billion.
Sources
- https://www.spelman.edu/about/history-in-brief.html
- https://files.eric.ed.gov/fulltext/ED559306.pdf
- https://www.spelman.edu/_1_Docs-and-Files/bfa/bfa-audited-financial-reports/2023-financial-statements.pdf
- https://hbcunews.com/2022/11/22/tiff-investment-management-tapped-as-outsourced-chief-investment-officer-to-oversee-spelman-colleges-500-million-endowment-fund/
- https://www.insidehighered.com/news/quick-takes/2024/01/19/spelman-receives-historic-100m-donation
- https://apnews.com/article/spelman-college-donation-100-million-hbcu-black-6b354b6da474e0b7e459553c7cc50e82
- https://www.universityherald.com/articles/78397/20240119/historic-100-million-gift-elevates-spelman-college-breaks-records-hbcus.htm
- https://saportareport.com/new-spelman-board-chair-aims-to-increase-endowment-to-1-billion-in-five-years/uncategorized/allison/
- https://moguldom.com/302393/here-are-the-top-15-hbcu-endowments-ranked/