Q: Does The New School have an endowment?
A: Yes. The New School’s endowment portfolio is designed to provide long-term financial security to the university in order to provide continual support of The New School’s activities and programs. The portfolio contains both unrestricted assets and restricted assets in the form of separate endowment funds established by donor gift instruments.
Q: Does the university manage the endowment?
A: Yes. The university handles the management of endowment funds internally. The Investment Committee of the Board of Trustees makes the investment decisions, supported by an external consultant. The Department of Investments, Treasury, and Enterprise Risk Management operationalizes the committee’s investment decision and policies and carries out the day-to-day administration of the investment functions.
Q: Are social, environmental, and governance factors considered in the investment of The New School’s endowment?
A: Yes. In overseeing the university’s endowment portfolio, the trustees strive to assure that investment decisions take into account and exhibit a reasoned perspective in respect to social, environmental, and governance (SEG) implications. Investment activity is conducted in the context of the university’s educational mission, which is guided by respect for intellectual freedom, human dignity, and the rights and welfare of others. The trustees’ objective is to fulfill their fiduciary role in a responsible manner, and they are committed to a careful and thoughtful analysis of SEG factors related to investment.
Q: Does the university have an investment committee on responsible investment?
A: Yes. The Board of Trustees of The New School authorized the president of the university to appoint an Advisory Committee on Investor Responsibility (ACIR) for the purpose of advising the trustees on the social, environmental, and governance (SEG) implications of The New School’s endowment investment program and to present recommendations to the Investment Committee of the Board of Trustees on the SEG issues that arise in the management of the university’s endowment.