{"id":11,"date":"2020-12-30T23:09:38","date_gmt":"2020-12-30T23:09:38","guid":{"rendered":"https:\/\/www.macalester.edu\/160-investment-office\/?page_id=11"},"modified":"2024-09-09T01:29:08","modified_gmt":"2024-09-09T01:29:08","slug":"faq","status":"publish","type":"page","link":"https:\/\/www.macalester.edu\/investments\/faq\/","title":{"rendered":"Frequently Asked Questions (FAQ)"},"content":{"rendered":"<accordion-container\n    tag=\"section\"\n    class=\"accordion-group block-container\"\n    >\t\n\t<div class=\"accordion-group__outer\">\n\t    \t    <ul class=\"accordion-group__list\">\n\t        \t            <li class=\"accordion-group__list-item\">\n\t                <accordion-container-header\n\t                    tag=\"h3\"\n\t                    class=\"accordion-group__item-heading\"\n\t                >\n\t                    <accordion-container-header-button\n\t                        class=\"accordion-group__heading-button\"\n\t                        controls=\"accordion-group-1\"\n\t                        id=\"accordion-group-heading-button-1\"\n\t                    >\n\t                        <span class=\"accordion-group__button-text\">What is the Macalester Endowment?<\/span>\n\t                        <span class=\"accordion-group__icon-wrap\">\n\t                        \t<svg aria-hidden=\"true\" class=\"base-symbol accordion-group__button-icon\" viewbox=\"0 0 12 12\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n\t\t\t\t\t\t\t\t    <use xlink:href=\"\/wp-content\/themes\/macalester-2020\/dist\/svgs\/symbol-plus-small.svg#icon\"\/>\n\t\t\t\t\t\t\t\t<\/svg>\n\t                        <\/span>\n\t                    <\/accordion-container-header-button>\n\t                <\/accordion-container-header>\n\t                <accordion-container-panel\n\t                    id=\"accordion-group-1\"\n\t                    class=\"accordion-group__item-panel\"\n\t                >\n\t                    <div class=\"accordion-group__item-panel-inner\">\n\t                        <p><p>The Macalester Endowment is a long term investment fund made up almost entirely of private gifts made to the College over the past 100 or more years. The income from the endowment supports scholarships for students, academic programs, and salaries for faculty and staff. The Macalester Endowment increased dramatically in 1990 as the result of a large gift of Readers Digest stock from DeWitt and Lila Wallace.<\/p><\/p>\n\t                    <\/div>\n\t                <\/accordion-container-panel>\n\t            <\/li>\n\t        \t            <li class=\"accordion-group__list-item\">\n\t                <accordion-container-header\n\t                    tag=\"h3\"\n\t                    class=\"accordion-group__item-heading\"\n\t                >\n\t                    <accordion-container-header-button\n\t                        class=\"accordion-group__heading-button\"\n\t                        controls=\"accordion-group-2\"\n\t                        id=\"accordion-group-heading-button-2\"\n\t                    >\n\t                        <span class=\"accordion-group__button-text\">How large is the Macalester Endowment?<\/span>\n\t                        <span class=\"accordion-group__icon-wrap\">\n\t                        \t<svg aria-hidden=\"true\" class=\"base-symbol accordion-group__button-icon\" viewbox=\"0 0 12 12\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n\t\t\t\t\t\t\t\t    <use xlink:href=\"\/wp-content\/themes\/macalester-2020\/dist\/svgs\/symbol-plus-small.svg#icon\"\/>\n\t\t\t\t\t\t\t\t<\/svg>\n\t                        <\/span>\n\t                    <\/accordion-container-header-button>\n\t                <\/accordion-container-header>\n\t                <accordion-container-panel\n\t                    id=\"accordion-group-2\"\n\t                    class=\"accordion-group__item-panel\"\n\t                >\n\t                    <div class=\"accordion-group__item-panel-inner\">\n\t                        <p><p>The May 31, 2024 market value of the Endowment was $896 million.<\/p><\/p>\n\t                    <\/div>\n\t                <\/accordion-container-panel>\n\t            <\/li>\n\t        \t            <li class=\"accordion-group__list-item\">\n\t                <accordion-container-header\n\t                    tag=\"h3\"\n\t                    class=\"accordion-group__item-heading\"\n\t                >\n\t                    <accordion-container-header-button\n\t                        class=\"accordion-group__heading-button\"\n\t                        controls=\"accordion-group-3\"\n\t                        id=\"accordion-group-heading-button-3\"\n\t                    >\n\t                        <span class=\"accordion-group__button-text\">Do we still hold Readers Digest stock?<\/span>\n\t                        <span class=\"accordion-group__icon-wrap\">\n\t                        \t<svg aria-hidden=\"true\" class=\"base-symbol accordion-group__button-icon\" viewbox=\"0 0 12 12\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n\t\t\t\t\t\t\t\t    <use xlink:href=\"\/wp-content\/themes\/macalester-2020\/dist\/svgs\/symbol-plus-small.svg#icon\"\/>\n\t\t\t\t\t\t\t\t<\/svg>\n\t                        <\/span>\n\t                    <\/accordion-container-header-button>\n\t                <\/accordion-container-header>\n\t                <accordion-container-panel\n\t                    id=\"accordion-group-3\"\n\t                    class=\"accordion-group__item-panel\"\n\t                >\n\t                    <div class=\"accordion-group__item-panel-inner\">\n\t                        <p><p>No, we do not. The last of the 10 million shares of Readers Digest common stock that we received in 1990 were sold in 2002. Our final holdings of Readers Digest preferred stock were liquidated in 2007. The sale proceeds were invested in a diversified portfolio of stocks, bonds, and alternative investments (real assets, private capital, hedge funds).<\/p><\/p>\n\t                    <\/div>\n\t                <\/accordion-container-panel>\n\t            <\/li>\n\t        \t            <li class=\"accordion-group__list-item\">\n\t                <accordion-container-header\n\t                    tag=\"h3\"\n\t                    class=\"accordion-group__item-heading\"\n\t                >\n\t                    <accordion-container-header-button\n\t                        class=\"accordion-group__heading-button\"\n\t                        controls=\"accordion-group-4\"\n\t                        id=\"accordion-group-heading-button-4\"\n\t                    >\n\t                        <span class=\"accordion-group__button-text\">Who manages the Endowment?<\/span>\n\t                        <span class=\"accordion-group__icon-wrap\">\n\t                        \t<svg aria-hidden=\"true\" class=\"base-symbol accordion-group__button-icon\" viewbox=\"0 0 12 12\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n\t\t\t\t\t\t\t\t    <use xlink:href=\"\/wp-content\/themes\/macalester-2020\/dist\/svgs\/symbol-plus-small.svg#icon\"\/>\n\t\t\t\t\t\t\t\t<\/svg>\n\t                        <\/span>\n\t                    <\/accordion-container-header-button>\n\t                <\/accordion-container-header>\n\t                <accordion-container-panel\n\t                    id=\"accordion-group-4\"\n\t                    class=\"accordion-group__item-panel\"\n\t                >\n\t                    <div class=\"accordion-group__item-panel-inner\">\n\t                        <p><p><span style=\"font-weight: 400\">Beginning September 1, 2024 Macalester closed the internal Investment Office and transitioned management of the college\u2019s endowment to <\/span><a href=\"https:\/\/www.investure.com\/\"><span style=\"font-weight: 400\">Investure<\/span><\/a><span style=\"font-weight: 400\">. This decision was made by the Board of Trustees with the goal of delivering consistent risk-adjusted endowment performance with a greater ability to access top-tier fund managers. In partnering with Investure, ÈÕº«¾«Æ· maintains the fiduciary responsibility for the endowment; approves significant changes in asset allocation, policy guidelines, receives and reviews reports regularly.<\/span><\/p><\/p>\n\t                    <\/div>\n\t                <\/accordion-container-panel>\n\t            <\/li>\n\t        \t            <li class=\"accordion-group__list-item\">\n\t                <accordion-container-header\n\t                    tag=\"h3\"\n\t                    class=\"accordion-group__item-heading\"\n\t                >\n\t                    <accordion-container-header-button\n\t                        class=\"accordion-group__heading-button\"\n\t                        controls=\"accordion-group-5\"\n\t                        id=\"accordion-group-heading-button-5\"\n\t                    >\n\t                        <span class=\"accordion-group__button-text\">How can you support Macalester&#8217;s mission?<\/span>\n\t                        <span class=\"accordion-group__icon-wrap\">\n\t                        \t<svg aria-hidden=\"true\" class=\"base-symbol accordion-group__button-icon\" viewbox=\"0 0 12 12\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n\t\t\t\t\t\t\t\t    <use xlink:href=\"\/wp-content\/themes\/macalester-2020\/dist\/svgs\/symbol-plus-small.svg#icon\"\/>\n\t\t\t\t\t\t\t\t<\/svg>\n\t                        <\/span>\n\t                    <\/accordion-container-header-button>\n\t                <\/accordion-container-header>\n\t                <accordion-container-panel\n\t                    id=\"accordion-group-5\"\n\t                    class=\"accordion-group__item-panel\"\n\t                >\n\t                    <div class=\"accordion-group__item-panel-inner\">\n\t                        <p><p>There are many ways in which you can help ensure the strength of Macalester\u2019s mission for generations to come. One of them is to endow a special fund, arrange a planned gift, or make a contribution to the Macalester Fund (which provides annual support for areas of greatest need). For more information about giving to Macalester, visit\u00a0<a href=\"https:\/\/www.macalester.edu\/supportmac\/howtogive\/\">www.macalester.edu\/supportmac\/howtogive\/<\/a>.<\/p><\/p>\n\t                    <\/div>\n\t                <\/accordion-container-panel>\n\t            <\/li>\n\t        \t    <\/ul>\n\t<\/div>\n<\/accordion-container>\n\n\n\n<p><\/p>","protected":false},"excerpt":{"rendered":"","protected":false},"author":516,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-11","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.macalester.edu\/investments\/wp-json\/wp\/v2\/pages\/11","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.macalester.edu\/investments\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.macalester.edu\/investments\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.macalester.edu\/investments\/wp-json\/wp\/v2\/users\/516"}],"replies":[{"embeddable":true,"href":"https:\/\/www.macalester.edu\/investments\/wp-json\/wp\/v2\/comments?post=11"}],"version-history":[{"count":17,"href":"https:\/\/www.macalester.edu\/investments\/wp-json\/wp\/v2\/pages\/11\/revisions"}],"predecessor-version":[{"id":229,"href":"https:\/\/www.macalester.edu\/investments\/wp-json\/wp\/v2\/pages\/11\/revisions\/229"}],"wp:attachment":[{"href":"https:\/\/www.macalester.edu\/investments\/wp-json\/wp\/v2\/media?parent=11"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}