Linfield’s Board of Trustees met to discuss and evaluate their effectiveness and reflected on the 2012-2013 school year.
The board met with President Thomas L. Hellie and he shared his goals for the year. Through meeting with Hellie, the board has determined that these meetings have worked well for the past seven years.
The report also touches on the management of the endowment fund which is handled by the Subcommittee.
The Subcommittee’s responsibilities include: fund manager evaluation, including review of manager fees and evaluations from the college’s investment advisory firm; allocation/rebalancing of the endowment to keep it within target ranges; periodic review of the College’s investment policy for needed updates/changes; overall fund compliance; and review and recommendation to the Financial Affairs Committee with regard to suggested policy and/or program changes such as in the gift annuity program.
The rate of return was 5.3 percent. The endowment performance went above the Linfield Custom Index by .9 percent and exceeded the “All Endowment & Foundation $50mm-$250mm Net Median” by 1 percent. This has placed Linfield in the 22nd percentile for endowment performance.
The 2012-2013 year has also marked the board’s 39th consecutive year for ending the year with a balanced budget.
The board also discussed the management of physical plants and the grounds. The board received reports on renovations to Riley Hall and the planned renovations for the dining facilities. The trustees and staff also discussed the best use for a portion of the College property.
The board inducted two new trustees back in May of this year, one faculty member and a student.
The meeting was held on Trustee’s weekend, which also featured a dinner with faculty and a breakfast with students. At the student breakfast, students gave presentations on their experience at Linfield.
The Board of Trustees works every year to further the goals and achievements of the college through their volunteered time and substantial gifts.
Kaylyn Peterson / Managing editor
Kaylyn Peterson can be reached at firstname.lastname@example.org.