2018-2019 Endowment Fund Report [PDF]
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UWINNIPEG FOUNDATION Annual Report to Donors 2018–2019 Message from the President and CEO Thanks to donors like you, we have raised ambitions, encouraged talent, and transformed our community. I am proud to share our 2018–19 Annual Report to Donors, which will highlight This past year we have, once again, benefited from the some of these accomplishments. transformative power of gifts made by UWinnipeg and Collegiate donors in support of students, academic On behalf of the many students — past, present, and future programs, and campus infrastructure. — who benefit from your commitment: thank you. I am continually impressed by the outpouring of generosity Sincerely, shown by our alumni and friends. Whether it be a gift of their time, their wealth, their wisdom, or a combination of them all, our donors and volunteers are committed to the good works of our faculty, staff, and students. The University of Winnipeg Foundation was established on April 1, 2004. It was founded on the belief that UWinnipeg, BRIAN LAWRENCE DALY, B.A., M.B.A. Collegiate and United College graduates, as well as friends and President and Chief Executive Officer community members who respect and admire our institutions, would be inspired to give back. Fifteen years later, this holds true. Our Endowment Fund has more than tripled in growth during this period; the number of donors has increased twofold and the value of awards has more than doubled. Throughout our rich history, donor contributions have been critical to our success. The foresight of our generous alumni and friends today continues to allow the University and the Collegiate to serve our community through academic excellence. ANNUAL REPORT 2018–2019 INVESTING IN THE UWF ENDOWMENT FUND ENDOWMENT FUND The Foundation’s investment policies call for a conservative, PERFORMANCE balanced approach utilizing cash, fixed income, and Canadian and foreign equities to prescribed limits. Equities are not to exceed The University of Winnipeg Foundation 70% of the portfolio. The Foundation’s investment policies are supports the strategic priorities and values of the designed to provide consistent long-term growth while protecting the purchasing power of the Endowment Fund. The Foundation University, contributing to our shared goals by does not invest in speculative or high-risk investments. building a strong and stable base of endowment funds. Our strategic intent is to substantially ENDOWMENT PERFORMANCE 2004–2019 increase the value of charitable gifts in support The Endowment Fund generates revenues to support our strategic of the University’s strategic directions: academic directions. Its resilience and growth is important in both the excellence and renewal; student experience and short and long term. From the time the Endowment Fund was success; Indigenization; research excellence, transferred to the Foundation on April 1, 2004, until March 31, 2019, it has grown from $18,073,579 to $52,985,365 in contributed knowledge mobilization and impact; and financial capital and from $21,017,304 to $69,124,421 in market value. and institutional resilience. Donors may designate an endowment gift to create a new fund or contribute to an existing fund. These funds are held in perpetuity by the Foundation and are invested with other funds that comprise the Endowment Fund to promote growth over the long term and protect against inflation. ENDOWMENT PERFORMANCE FOR LAST FIVE YEARS The University of Winnipeg Foundation stewards 606 individual endowment funds that are pooled for investment purposes to allow for diversification of the total portfolio in order to lower risk and improve performance. FISCAL YEAR END CONTRIBUTED CAPITAL MARKET VALUE MARCH 31, 2015 $44,735,222 $59,221,654 MARCH 31, 2016 $48,161,205 $56,693,981 MARCH 31, 2017 $51,147,310 $64,618,112 MARCH 31, 2018 $51,343,774 $64,700,140 MARCH 31, 2019 $52,985,365 $69,124,421 RESERVE FUNDS The Foundation’s Endowment Fund was established in order to ensure reliable regular funding to support these programs and awards. The Foundation does this in two ways: through its asset mix, and by way of a Reserve Fund, which serves as a hedge against fluctuations in investment earnings that may occur. Reserve Fund (Market Value): $16,139,056 SUPPORTING STUDENTS— ANNUAL GIFTS TO THE UNIVERSITY 2018/2019 CONTRIBUTION TO THE UNIVERSITY $2,000,000 The University of Winnipeg Foundation Endowment Fund continues to exceed market performance. It has performed $1,600,000 above benchmark over a three-year period, five-year period and ten-year period. $1,200,000 BENCHMARK TOTAL PORTFOLIO % ABOVE BENCHMARK $800,000 3 YEARS 8.44 9.34 0.90 $400,000 5 YEARS 7.55 8.41 0.86 $0 $1,628,411 $1,783,597 $1,911,213 $2,050,198 $1,738,666 10 YEARS 9.51 9.94 0.43 14/15 15/16 16/17 17/18 18/19 The average annual return over the past five years is 7.75% GREEN FUND as of March 31, 2019. In June 2018, the Foundation launched a new investment option At the end of 2017/18 the return was 1.26%, forcing the called the Green Fund. The University generously seeded the Foundation Board and Board of Regents to make a prudent fund with a gift of $100,000. The creation of the Green Fund decision to lower the annual contribution from the endowment was done in partnership with Jarislowski Fraser Limited and to the University. The resulting income allocation totaled represents a new environmentally friendly fund option for $1.73 million for 2018/19. This represents 3.5% of the prorated donors to invest. Building on Jarislowsky Fraser’s broad range contributed capital held in the Endowment Fund or agreed-to of sustainable investment strategies, JF Fossil Fuel Free Funds percentage, set annually by the Foundation’s Board of are a family of privately pooled funds which include JF Fossil Directors and the University’s Board of Regents. Fuel Free Canadian Equity Fund, JF Fossil Fuel Free Global Equity Fund and JF Fossil Fuel Free Bond Fund. The agreed-to percentage for 2019/20 was determined at the Foundation’s Annual General Meeting and is set at 4.25%. The Green Fund’s Market Value at March 31, 2019 totals $106,425, representing a 4.22% return. FUNDRAISING RESULTS The University of Winnipeg Foundation engages alumni and friends who are passionate about The University of Winnipeg and its Collegiate. The Foundation provides opportunities to enhance academic research and community outreach programs. It grows the University’s student award program. And it guarantees professional stewardship of the donations it receives. The University of Winnipeg Foundation’s goal is to increase financial support for campus priorities. Each year we aim to increase the number of donors, volunteers, and friends of the University and the Collegiate, and the number and size of gifts made. Every gift received helps UWinnipeg support talented and eager-to-learn students, attract and retain first-rate faculty members, fund innovative research, and encourage community engagement. This past year, in addition to endowment revenues, more than $4.2 million was raised. Total Raised from April 1, 2018 to March 31, 2019: $4,249,451.47 TOTAL RAISED 2019/20 FUNDRAISING April 1, 2018–March 31, 2019 PRIORITIES The Foundation continues to focus its development efforts on University priorities. These efforts are coordinated through the Foundation’s Major Gift, Annual Giving, Planned Giving, and Donor Stewardship programs. $4,249,451.47 ENDOWED $982,206.35 UNIVERSITY PRIORITIES FOR 2019/20 CURRENT Capital $3,267,245.12 › Library Student Awards › Opportunity Fund ENDOWED CURRENT COMBINED Academic Enhancements CAPITAL $0.00 $30,675.60 $30,675.60 › New and Existing Chairs and Research PROGRAMS $281,400.34 $1,190,999.57 $1,472,399.91 › Work Integrated Learning STUDENT AWARDS $700,806.01 $2,045,569.95 $2,746,375.96 2018 DUFF ROBLIN UPDATE UNITED COLLEGE GRADUATE GIVES BACK On October 30, 2018, over 320 guests gathered at The Fort Garry Carol (Bennett) Davis (BA '58) was born and raised in Winnipeg. Hotel, Spa and Conference Centre to honour Bob Silver, prominent Like her mother before her, she attended United College. Winnipeg businessman and Chancellor of The University of Winnipeg, with the 12th Annual Duff Roblin Award. Over $85,000 “I loved the small college atmosphere where I participated in was raised in support of the Opportunity Fund and the Duff Roblin everything! I worked on the yearbook, was a class officer every Scholars Fund. year, and Lady Stick in my senior year.” Davis went on to enjoy a successful career that saw her teaching in Canada, the United States, China, and even at our very own Collegiate. She met her husband, John Davis, while working for United Nations High Commission for Refugees (UNHCR) in Hong Kong. They now live together in Texas, but Davis remains an important member of the UWinnipeg community. While organizing the 60th reunion of the Class of 1958, Davis and her husband decided to create a $100,000 named endowment, The Carol Bennett Davis Endowed Award. Her generosity will benefit students in financial need for years to come. 2019 DUFF ROBLIN DINNER John and I both understand that education This year the University will honour Jennifer Roblin (Collegiate opened up the world to us. It allowed me to '79), an accomplished actress and a dedicated donor, fundraiser, and friend to UWinnipeg. Roblin has been a long-time supporter be so much more than I would have been. of fighting poverty in Winnipeg’s inner city, in particular on With John’s support, I am pleased to give behalf of children. She recognizes the importance of after-school homework clubs, cultural programs, and free public meeting back to the school that gave me so much.