September 25, 2015
Bowdoin endowment posts 14.4 percent annual gain
Bowdoin College recently reported that its endowment generated an annual investment return of 14.4 percent in the past year bringing the school’s endowment value up to $1.39 billion.
This growth rate not only outpaces U.S. markets but also all other American colleges and universities.
“This investment performance is truly remarkable,” said Bowdoin President Clayton Rose. “A strong endowment is critical in our ability to deliver academic and residential life programs of the highest quality to every student—regardless of their economic circumstances—and to maintain excellence in all aspects of the College.”
This year’s strong earnings report continues Bowdoin endowment’s impressive performance over the past ten years. According to the college, the five year annualized returns for the endowment are 14.7 percent and 10.5 percent respectively. Both of these figures are in the top fifth percentiles of all college and university annualized returns.
Rose also went on to say that the endowment’s impressive performance “represents outstanding work by Paula Volent, our senior vice president for investments, and her staff, and by an investment committee made up of brilliant professionals who care deeply about our College and understand the importance of building and stewarding these resources.”
Federal judge orders Middlebury to reinstate expelled student
Last Wednesday a federal judge ordered Middlebury to reinstate a student who was expelled over an accusation of sexual misconduct while studying abroad. Middlebury subsequently released a statement acknowledging that it would comply with the judge’s order and begin the process of reinstating the student.
In the order, U.S. District Court Judge J. Garvin Murtha stated, “This case presents a unique situation where the plaintiff was exonerated of the charge of sexual assault by one U.S. institution following an investigation and hearing, allowed to continue his studies the next term, and subsequently determined by his college following a second investigation of the same allegation to have committed sexual assault, after which he was expelled.”
The incident in question occurred last November on an SIT study abroad program. The accuser submitted a complaint to program administrators that the defendant had sexually assaulted her. Upon receiving this complaint, SIT ran an independent investigation, which concluded that the defendant, represented in the case as John Doe, was innocent. In January, Middlebury opened its own investigation into the case. This five-month inquiry found however that John Doe was responsible for sexual assault. At the conclusion of its investigation, Middlebury expelled John Doe.
After exhausting the school’s appeals process, John Doe sued Middlebury on Aug. 28.
Middlebury said that it believed the court erred in its interpretation of the facts and the law and that it was “deeply disappointed” by the order to re-enroll the student for the fall semester. “We are considering our legal options, but at this time we are obliged to comply with the court’s order.”