Because the University receives funding from a variety of sources, with different types of terms and restrictions, each source must be tracked as a separate accounting entity in a unique fund. When the funds are reinvested pursuant to a provision in the donors gift agreement, they add pure shares to the Endowment; when they are reinvested at the request of an internal unit they add quasi shares to the Endowment. Based on the circumstances now before us, we believe such an approach can succeed. This recovery means that Stanford Athletics dedicated endowments, including the DAPER Investment Fund, are more strongly positioned and additional resources can be drawn from them to support athletics programs as private fundraising efforts ramp up. Turned out his instincts were right. The fund has grown from $300,000 to $40 million since its creation in 1982. On the court, he was a three-year starter for coach Howie Dallmar, making first-team all-conference and third-team All-American, and serving as team captain during the 1959-60 season. The broad engagement with many constituents, productive conversations with 36 Sports Strong and favorable changes to the financial outlook ultimately led to President Tessier-Lavigne, Provost Drell and Director of Athletics Muir reaching this decision, after consultation with the Board of Trustees and campus leadership. Show? 2. The Board of Trustees Intermediate Pool Authorization and Investment Policy, adopted on October 18, 2016, sets forth guidelines for investments and withdrawals into and out of the intermediate pool (IP). FFE invested prior to September 1, 2016 are governed by the previous FFE policy, and are not subject to an annual withdrawal limit. The fund has grown from $300,000 to $40 million since its creation in 1982. He applied his time, funding and expertise to renovating the Old Union as well as several historic homes on campus. How will Stanford engage Athletics alumni, supporters and student-athletes moving forward? She and her husband, Marc Andreessen, are longtime supporters of Stanford Health Care and made the lead gift for the Marc and Laura Andreessen Emergency Department in 2007. These types of funds are also typically no longer established by the University. In 1988, Lodato received the Gold Spike Award, the University's highest honor for fund-raising service. He served on and chaired the Central Coastal Conservation Commission in the 1970s. This critical initiative will continue. From 2008-2011, Steven managed over 200 investments and oversaw some of the most complicated Lehman real estate investments, such as Canyon Ranch Miami Beach where he completed a deed-in-lieu of foreclosure, restarted a sales & marketing campaign to sell the unsold condominium units, implemented a seller financing program and restructured the hotel management agreement with Canyon Ranch. The University combines funds with similar characteristics into fund groups for budgeting, planning, and reporting purposes. Funds established with gifts directed to the endowment are typically used to purchase pure shares in the Merged Pool, and in rare circumstances are held in assets specifically directed by the donor. These cookies do not store any personal information. A new tool for designing and managing irrigation for farms advances the implementation of smart agriculture, an approach that leverages data and modern technologies to boost crop yields while conserving natural resources. This category only includes cookies that ensures basic functionalities and security features of the website. He is a current or past member of the board of many public/private companies. Coleman was Co-Founding Partner of Bain Capital, one of the nations pre-eminent private equity firms. The University Budget Office uses this information to prepare high-level variance analysis for the Board of Trustees and University management. The minimum addition of new money to an existing FFE is $250,000. In a very short period, I am truly struck by the generosity and impact of the Buck/Cardinal Club and the DAPER Investment Fund. The good we're able to do in the world begins with the good our community generously shares with us. He is active in the Georgetown University Masters of Professional Studies Real Estate Mentor Program. It is mandatory to procure user consent prior to running these cookies on your website. These are created at the request of an internal University unit (department, school, etc.). (Image credit: Courtesy Stanford Athletics), PhD students idea captures the attention of state legislators. By Jeremy Rubin. from the University of Miami. There is a group of funds referred to as Pool A funds that are established by gifts with terms that specify something like the following: income but no appreciation may be paid out of the fund. A better, faster tool for saving water on farms. Prior to joining the Bass Group he was a principal for the Trammell Crow Company. The fund number, also referred to as the award number, is included in the chart of accounts. Mike has been engaged to serve as Managing Director (via a professional services agreement with Manistee Capital LLC) for Origination, Underwriting & Asset Management of RMWC and is responsible for presenting investment opportunities, underwriting potential opportunities and asset managing existing investments. The Board of Trustees of Stanford University approved a revised infrastructure policy in October 2004. His daughter, Laura Arrillaga-Andreessen, 92, MBA 97, MA 98, MA 99, and son, John Arrillaga, Jr., 92, MBA 98, became philanthropists in their own right. New faculty and lecturers offer unique perspectives and experience to augment program offerings. Requests to approve the creation of FFE involving gift funding must be reviewed by the Office of Planned Giving. These monies are used to purchase quasi shares in the Endowment. These boards will continue to be composed of dedicated volunteers representing the diverse interests, passions and constituencies that exist among the Stanford Athletics community. Similar to other areas of the university, the Office of Development works with alumni and friends to advance Stanford through philanthropy. Chris is the managing partner of RSF Partners, a series of real estate private equity funds totaling over $1 billion in equity. The minimum addition of new money to an existing FFE is $250,000. This recovery means that Stanford Athletics' dedicated endowments, including the independently managed DAPER Investment Fund, are more strongly positioned and additional resources can be drawn from them to support athletics programs as private fundraising efforts ramp up. Jeff is an active mentor and leader in the Bay Area community. What happens when a young writer heads to Nate joined the RMWC team in 2013. He holds an M.B.A. from Stanford University, where he was named an Arjay Miller Scholar, and holds a B.A. Explore {PerformanceRetail's key management people. If donor terms allow a gift to be used broadly within a school or unit, it is deemed Unrestricted at the unit level, but Restricted by central University administration. Coleman is a member of the Board of Directors of the DAPER Investment Fund, a co-investment fund of the Stanford Management Company, the entity which directs the investment of approximately $26 billion of endowment and related funds for Stanford University. America, 3) Truckee Gaming LLC, operator of local casinos in Nevada and 4) the DAPER Investment Fund, a co-investment fund with the Stanford Management Company for the benefit . 505 Broadway The Intermediate Pool (IP) functions as a unitized pool with shares and share prices, similar to the Merged Pool. What changed since last July to produce this decision? SMC manages the investment policy of the IP with the intention of replicating the debt and equity exposure of a well-balanced global investment portfolio, investing in passive index funds. Tim Draper. These roles help Stanford grow our impact through nurturing opportunities for stewardship and pivotal relationships with donors. He has served as chair of the Athletic Board and as co-chair of his 50 th undergraduate reunion campaign. Altogether, donors committed a total of $76 million to Stanford Athletics in 2020-21, making it the most successful fundraising year in the history of Cardinal Athletics. His former construction company, Rudolph and Sletten Inc.,. Steven also completed workouts, restructurings, foreclosures and recovery strategies on Lehmans investment properties including condominiums, multi-family, hospitality, retail, golf courses and other types of commercial real estate across the US. ), Intermediate term reserves from school and units, A portion of the Expendable Funds Pool (EFP), at the discretion of the Universitys Chief Financial Officer, Debt recycling pool and unexpended debt proceeds, Other centrally managed funds, at the discretion of the Universitys Chief Financial Officer. In addition, Mike has completed various foreclosures, workouts, loan restructurings, and dispositions on both debt and equity positions. John repaid his student scholarship many times over he never stopped giving back, says John L. Hennessy, who served as university president from 2000 to 2016 and is now the Shriram Family Director of the Knight-Hennessy Scholars program. This website uses cookies to improve your experience while you navigate through the website. This Guide Memo describes the University's funds and budgets. Budgeting enables the University to verify fund availability when processing expenditures. The terms of the award and applicable regulations determine how the money may be spent. 12. Smaller amounts may be withdrawn only if the remaining balance is being withdrawn. Michael holds a Masters of Professional Studies in Real Estate from Georgetown University with a concentration in Development. While you consider what you would like your donor advised fund to support, the donor advised . After thorough consideration and analysis, both last summer and over recent months, university leadership and the Board of Trustees and other advisors reaffirmed that Stanford Athletics continues to be managed with the highest attention to financial rigor. Curt Riggs is Managing Director for Underwriting & Asset Management of RMWC and is responsible for underwriting new opportunities and asset managing existing investments. Our hope is that student-athletes who had begun to explore the possibility of transferring will choose to complete their undergraduate degree and varsity athletics career at Stanford. As these loans are repaid, the principal and accumulated interest become available for new student loans. John will be missed often and remembered fondly.. Income from outside sources related to programs, patents and royalties, program activities, affiliations, ticket income and the like are collected throughout the institution. He serves on the boards of the DAPER Investment Fund, The GSB Trust, and the Stanford School of Engineering Advisory Council. In order to create a new FFE, the unit must invest a minimum of $1 million. The GLC Investment Advisors Team is comprised of well established industry experts who have a history of knowledge and success. Funds in this group include, but are not limited to: A life income gift allows donors to give assets to Stanford while providing themselves or others with income for a period of time before Stanford is permitted to use the gift; until that period has ended, the gift is not counted as part of the University Endowment. The University accounting system also records attributes assigned to each fund that further define the fund purpose and restrictions. After Lehman, Steven founded SRF Ventures, a boutique real estate advisory firm, and co-founded New Gables Capital, a private commercial real estate lender. Founder of United Bridge Partners - innovative capital and solution provider to replacement bridges across the U.S. Marc holds an M.B.A. from Columbia University Business School, Beta Gamma Sigma, where he graduated with honors, and a B.A. The Cost and Management Analysis Office calculates rates that are charged to each contract and grant to pay for facilities and administrative overhead costs associated with sponsored research. Below are additional questions and answers about this decision. Few people have had as broad and enduring an impact on Stanford as John Arrillaga, said Persis Drell, provost of Stanford University. Periodically through the year, as determined by University management, budget officers provide analysis and explanation of the variance between actual income and expense (or projected income and expense) and the Consolidated Budget in accordance with the guidelines provided by the University Budget Office. He serves on several non-profit boards, including Stanford Universitys DAPER Investment Fund and Teach for America (Dallas/Fort Worth region). The appropriateness of a fund transfer is dependent on the characteristics of the source and destination funds, including the type of fund, the restrictions of the fund, whether the source and destination fund share the same infrastructure and EFP (Expendable Funds Pool) treatment, etc. Boatsetter, the US-based boat rental portal backed by Stanford University's Daper Fund, raised $10m in additional series A funding yesterday to bring the round's overall total to at least $27.8m. This year alone, nearly 50 students are the beneficiaries of his scholarships. Prior to RMWC, Nate joined the investment industry in 2004 with J.P. Morgan. A dedicated staff focused on Athletics, alongside fundraising professionals across the institution, will work with alumni, parents and friends of Stanford Athletics to increase philanthropic support and create endowments benefitting scholarships, coachships, individual sports and Athletics priorities. He founded a training trust, which awarded university scholarships to promising disadvantaged students, and sponsored a skills training center for women in Johannesburgs Alexandra township. Stanford University. We also use third-party cookies that help us analyze and understand how you use this website. Their company, Peery-Arrillaga, became one of Silicon Valleys largest commercial real estate developers, eventually leasing office space to companies like Intel, Apple, Facebook and Google. He contributed modestly to the universitys athletics department at first. Arrillaga grew up as one of five children in a working-class family in Inglewood, California. 3.1.1 Responsibility for University Financial Assets, 3.1.6 Charitable Donations by Stanford University to Other Charitable Organizations, 3.3 Infrastructure Charges and Expendable Funds, 3.8 Account Balance Reconciliation and Attestation, "Investment and Withdrawal Guidelines for Funds Functioning as Endowment Greater than $500,000", Graduate Academic Policies and Procedures Handbook, Stanford Safety, Security and Fire Report, Academic Staff-Teaching and Other Teaching Staff Handbook. Start over You searched for: "library" Remove constraint "library" Publisher The DAPER Investment Fund Remove constraint Publisher: The DAPER Investment Fund 1 item found Sort by year (new to old) The changing conditions led us to re-evaluate the potential to raise the increased funds necessary to support all 36 teams. May 18, 2021, 10:49 a.m. Stanford will reinstate all 11 varsity programs slated to be discontinued following the 2020-21 academic year, in a shocking reversal that follows months . What will happen to staff members whose positions were eliminated last summer? REDF, Stanford University's DAPER Investment Fund, The Stanford Athletic Board (Exec Comm. from Northern Michigan University. Expendable resources are available for the current operation of the University; balances can be accumulated for future expenditure. The structural financial challenges lagging revenue opportunities relative to competing institutions and cost increases occurring broadly in collegiate athletics remain. While the focus of the course is real estate investment, students are introduced to broader issues of how land use decisions are created through a combination of market forces, demographics, and regulation, and how resulting land use patterns impact housing affordability and integration or isolation of households by income level. All of it is considered unrestricted per internal reporting definitions. Marc has over 23 years of commercial real estate experience. Marc is Managing Director of Origination at RMWC, responsible for originating new real estate credit opportunities. To optimize investment returns, the University takes a long term perspective of its investments in the MP which requires minimal unplanned cash flow volatility in the portfolio. The Controller's Office is responsible for maintaining the integrity of the chart of accounts and for assigning fund and other account numbers. If you are a policy owner or designee and need to update a policy, send email to: guide-editor@lists.stanford.edu with your request. The 10% limit will be calculated as 10% of the funds market value which is eligible for withdrawal at the time the request is made, less any amount that has been redeemed or is pending redemption during the same fiscal year. Information on rate calculations and policy is available on the DoResearch website. At the time, before it was Silicon Valley, the Santa Clara Valley was called the Valley of Hearts Delight for its flowering orchards and canneries. The responsible agency for the federal government, which for Stanford is the Office of Naval Research (ONR), approves the rates. He also helped build the Munger Graduate Residence, the Graduate Community Center, the Physics and Astrophysics Building, the Arrillaga Science Center at SLAC National Accelerator Laboratory and lesser-known projects such as an annex for the university security force, among many other projects. And a lot John believed in college sports, and he believed in Stanford. If a unit chooses not to request the automatic year end reinvestment, they may contact Fund Accounting by July 31 to specify the amount that should be reinvested for the given fiscal year. In the Real Estate Finance: Politics, Regulation and Technology course he co-teaches with Greg Buchak, students are exposed to how political gamesmanship, financial crises, and financial innovation come hand-in-hand with real estate finance, which has played a central role in the rise and fall of economies, financial institutions, and the lives of ordinary Americans. His former construction company, Rudolph and Sletten Inc . She is a previous member of the Hoover Board of Overseers and served on the boards of the Stanford Institute for Economic Policy Research, Stanford Graduate School of Education and Stanford Athletics; in addition, she served as co-chair of her 25th reunion. Arrillaga-Andreessen is a philanthropic entrepreneur, lecturer in business strategy at Stanford Graduate School of Business, and founder and board chair of the Stanford Center on Philanthropy and Civil Society. A celebration of life is being planned by the family. You also have the option to opt-out of these cookies. From 2012 through 2016, he completed a succession of complex underwriting projects on multiple asset classes. As expected, the decision last summer drew a wide range of reactions and emotions. Generally, fund transfers are allowed when the characteristics of the source and destination funds conform to one another and the terms of each fund does not preclude such a transfer. Funds without such terms of limitation are referred to in the University accounting system as Unlimited. Auxiliaries are self-contained financial entities (see Guide Memo 3.1.3:Expenditure Accounts (PTAs)). Win whats next. Steve served as President of WAVC (Western Association of Venture Capital) and is currently a board member of the World Affairs Council, the Stanford GSB Venture Capital Fund and President of the Stanford DAPER Investment Fund. The fee is a percentage of certain types of expenditures, and these reimbursements are unrestricted funds per internal reporting definitions. In that role, he served as the lead fundraiser in multiple regions and also led fundraising efforts for Stanford Wrestling. In 1998, Coleman was recruited by the government of President Nelson Mandela to lead as CEO the complex, challenging, and controversial turnaround of South African Airways, a global company with 10,500 employees and operations in 34 countries. Exceptions to this policy must be approved by the University Budget Office and the Office of the Universitys Chief Financial Officer. Jill Grey Ferguson's solution for simplifying the process of applying for Californias energy incentive programs has been proposed as Senate Bill 755. Money was tight: He couldnt afford a suit jacket for his high school portrait, so he borrowed one from his chemistry teacher.