Alan Greenberg, often known as Ace, died recently. He had been the chairman of Bear, Stearns and was known for his dictates to his employees. One of the most famous was the Ace Greenberg Paper Clip memo, in which he ruled that paper clips should not be thrown away. Each employee received one box of… [Read More]
Blog
Category: Nonprofit and Endowment Management
Hedge funds, fiduciary responsibility, and Yeshiva University
Most institutions of higher education have been hurt three ways by the financial crisis: endowment returns are down; donors have less money to give; and families need more financial assistance to cover tuition. Just about every college and university has been affected. But one college has had the misfortune of having financial fraud and poor… [Read More]
University endowments up 11.7% in fiscal 2013
The National Association of College and University Business Officers (NACUBO) and Commonfund have released their annual study of endowments, with some interesting information. The average institution reported a return of 11.7% after fees. Larger institutions tended to have better performance, with institutions that have over $1 billion in assets reporting returns of 16.2%, in part… [Read More]
Paying for college: #GivingTuesday and the fundraising juggernaut
Tuesday, December 3 has been dubbed #GivingTuesday by the 92nd Street Y in New York City. They created the event last year to promote philanthropy in contrast to Black Friday and Cyber Monday and the general excess of shopping that takes place this time of year. I’m getting a ton of emails in my in-box… [Read More]
Paying for college: Colleges will be closing and merging
Recently, the Wall Street Journal ran an article on enrollment declines facing private colleges that may lead to closures and mergers. The story is right on, but it made me wistful because I pitched a similar story to almost every business publication out there five years ago or so. Such is the life of a… [Read More]
