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Firm Foundation

firm foundationA robust endowment provides a secure financial foundation for the university. Case Western Reserve's endowed assets are held and managed in several ways:

  • Pooled Endowment: Made up of more than 2,300 individual endowed gifts to the university, the pool operates with a unitized accounting system much like a mutual fund where each endowment is a unit holder in the pool. Unless designated otherwise by a donor, new endowed gifts are placed in the pool for investment. The Investment Committee and investment staff make investment decisions for the pool.
  • Outside trusts consist of nearly 50 individual irrevocable trusts. Approximately 90 percent of these outside trusts are held at banks. The trustee banks have custody of the assets and provide investment advisory services.
  • Unpooled endowments are gifts where the donor has made a request or placed a restriction (e.g., spending policy) that makes the endowment incompatible with the policies of the pooled endowment. Investment staff members manage and monitor these gifts on a stand-alone basis.
  • The pooled endowment, the outside trusts, and the unpooled endowments maintain individual asset allocation and spending policies that best serve their unique needs, donor restrictions, and/or legal restrictions.

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