Requests from an auxiliary must be approved by a University Vice Provost or Vice President. Since 2016, Curt has focused on originating, underwriting and asset management assignments on a range of office, retail, and mixed-use properties in Top 30 markets across the US. While numerous buildings bear his family name, many other contributions were made quietly he preferred to stay out of the limelight, often working directly with university leaders, vendors and staff to advance a project. During his career, he has focused on value investing with deep experience in distressed mortgage debt. Between 2009 and 2011, Curt rose through a series of project management positions while working on post-bankruptcy Lehman Estate loan recoveries in the South Florida real estate market. As these loans are repaid, the principal and accumulated interest become available for new student loans. He contributed modestly to the universitys athletics department at first. The responsible agency for the federal government, which for Stanford is the Office of Naval Research (ONR), approves the rates. Before that, he oversaw a $500m separately invested pool, including a direct investment portfolio of over 500 startups, at the investment office for Stanford University. As transfer of funding creates an initial disconnect between where the funds were collected and where they were used (appropriated), strong controls and audit trails of fund transfers are required by the University and is responsible business practice. in political science and psychology from Amherst College. PitchBooks data visualizations quickly surface an investors historical investmentsshowing a breakdown of activity by industry, year and region. Requests to approve the creation of FFE involving gift funding must be reviewed by the Office of Planned Giving. I, and other like-minded investors, will be looking for the best . A celebration of life is being planned by the family. The Board of Trustees establishes an annual payout rate for distributions from the Universitys endowment funds. Big-Data Initiative in Intl. Sources of funds include, but are not limited to, the following: Funds provided by sponsors to reimburse the direct costs of contracts and grants are restricted per internal reporting definitions. Recent gifts have included programmatic funds and coachships for multiple sports, including wrestling, field hockey, men's volleyball, women's basketball and baseball. Jesse received a BA from Stanford university and an MBA from Harvard Business School. Fund restrictions are classified differently for internal and external reporting purposes. Stanford University is seeking candidates for the Assistant Director of Development to support our annual fund, the Buck/Cardinal Club. From 2008-2011, Steven managed over 200 investments and oversaw some of the most complicated Lehman real estate investments, such as Canyon Ranch Miami Beach where he completed a deed-in-lieu of foreclosure, restarted a sales & marketing campaign to sell the unsold condominium units, implemented a seller financing program and restructured the hotel management agreement with Canyon Ranch. Alumnus John Arrillaga reshaped the Stanford campus with extraordinary generosity, professional expertise and volunteer service. Prior to joining RMWC in 2020, Steven started his career at Lehman Brothers in 2004 and worked in the commercial real estate group through 2011. Lodato's public service extended beyond campus. We were disappointed by these suits since it was well known that we were engaged in these discussions, and we are pleased to be embarking on a more positive path. Each year the University prepares a consolidated budget based on estimates of income and expenses. Marc is Managing Director of Origination at RMWC, responsible for originating new real estate credit opportunities. His personal oversight was credited with the unprecedented completion time for a project that would normally take multiple years. What will happen to staff members whose positions were eliminated last summer? You make a tax-deductible gift of $1 million or more to Stanford to establish a donor advised fund now and later advise how you would like the university to use the gift. Because the University receives funding from a variety of sources, with different types of terms and restrictions, each source must be tracked as a separate accounting entity in a unique fund. Pending Funds invested in the IP require an initial investment amount of at least $500,000. Mr. Benninger currently is a member of the Board of Directors of: 1) Caesars Entertainment Corp., the largest gaming company in the U.S., 2) Video King LLC, the largest bingo equipment company in No. Payout may be made from True Endowment without limitation to income as long as the payout rate is prudently established and the gift terms do not provide otherwise. His former construction company, Rudolph and Sletten Inc.,. The athletic board honored him in 1987 with its Outstanding Service Award, which now bears his name. Any FFE investment made on or after September 1, 2016, is subject to a 7-year initial lock-up period, during which it cannot be redeemed. Regular withdrawals are made as per the donor terms. He applied his time, funding and expertise to renovating the Old Union as well as several historic homes on campus. Jeff holds an MBA from the Stanford University Graduate School of Business and a BA in Political Science and Psychology from Amherst College. John repaid his student scholarship many times over he never stopped giving back, says John L. Hennessy, who served as university president from 2000 to 2016 and is now the Shriram Family Director of the Knight-Hennessy Scholars program. To date, Mike has been involved in the origination, underwriting and asset management of over $3.0 billion in commercial real estate debt and equity transactions. This critical initiative will continue. Boatsetter, the US-based boat rental portal backed by Stanford University's Daper Fund, raised $10m in additional series A funding yesterday to bring the round's overall total to at least $27.8m. about himself. He serves on the boards of the DAPER Investment Fund, The GSB Trust and the Stanford School of Engineering Advisory Council. Macro-Finance, Initiative on Business and Environmental Sustainability, Stanford Latino Entrepreneurship Initiative, Stanford Innovation and Entrepreneurship Certificate, California Quantitative Marketing PhD Conference, Harnessing Data and Tech for Ocean Health, Junior Faculty Workshop on Financial Regulation and Banking, Quantitative Marketing PhD Alumni Conference, Theory and Inference in Accounting Research, Overview of Centers & Research Initiatives, Overview of Corporate Governance Research Initiative, Overview of Corporations and Society Initiative, Overview of Policy and Innovation Initiative, Overview of Stanford Latino Entrepreneurship Initiative, Overview of Value Chain Innovation Initiative, GSBGEN 309: Housing and the Mortgage Market, GSBGEN 309: Real Estate Finance: Politics, Regulation, and Technology, Eucalyptus Sand Hill Hotel and Office Development Project, Stanford GSB Welcomes New Faculty to Enrich, Broaden its Educational Experience, Overview of Center for Entrepreneurial Studies, Overview of Certificate & Award Recipients, Public Policy Lab: Homelessness in California, Overview of Real-Time Analysis and Investment Lab, Overview of Facilitation Training Program, Stanford Impact Founder Fellowships and Prizes, Overview of the Impact Design Immersion Fellowship, Personal Information, Activities & Awards, Overview of Operations, Information & Technology, Driving Innovation and New Ventures in Established Organizations for Teams, Alison Elliott Exceptional Achievement Award, John W. Gardner Volunteer Leadership Award, Jack McDonald Military Service Appreciation Award, Overview of Long-Term Career & Executive Coaches, Overview of Alumni Consulting Team Volunteers, Overview of Stanford GSB Alumni Association, Overview of Companies, Organizations, & Recruiters, Overview of Recruiting Stanford GSB Talent, Overview of Leveraging Stanford GSB Talent, Overview of Internships & Experiential Programs, Overview of Alumni Consulting Team for Nonprofits, Social Innovation & Nonprofit Management Resources, BA, Mathematics, Santa Clara University, 1983, Founder & Managing Partner, RSF Partners, 1997 - present, Partner, Robert M. Bass Group, 1991 - 1997, Principal, Trammell Crow Company 1989 1991. The University maintains its accounts in accordance with the principles of fund accounting. REDF, Stanford University's DAPER Investment Fund, The Stanford Athletic Board (Exec Comm. Michael has also been very active in RMWCs direct lending strategy and coordinated the sourcing, underwriting, and asset management on more than 430 closed loan transactions between 2012 and 2020, including 15 successfully completed workouts. In the Real Estate Finance: Politics, Regulation and Technology course he co-teaches with Greg Buchak, students are exposed to how political gamesmanship, financial crises, and financial innovation come hand-in-hand with real estate finance, which has played a central role in the rise and fall of economies, financial institutions, and the lives of ordinary Americans. Information on rate calculations and policy is available on the DoResearch website. These are created at the request of an internal University unit (department, school, etc.). Finally, over recent months Athletics has been working with student-athletes to evaluate and enhance opportunities for student-athlete engagement and consultation on the issues that are most important to them. Fund transfers are accounting entries that move all, or a portion of, a fund's balance to another fund. In the 1960s, he headed a task force to strengthen East Palo Alto's economy. You may have given little thought to the role Native Americans played in the creation of the U.S. Constitution. She is a previous member of the Hoover Board of Overseers and served on the boards of the Stanford Institute for Economic Policy Research, Stanford Graduate School of Education and Stanford Athletics; in addition, she served as co-chair of her 25th reunion. Nate holds a B.A. The good we're able to do in the world begins with the good our community generously shares with us. His former construction company, Rudolph and Sletten Inc . Linda and Tony have . . As expected, the decision last summer drew a wide range of reactions and emotions. RMWC was initially developed during Colemans tenure from 2005 to 2010 as Chairman and CEO of Rocky Mountain Capital, a financial services enterprise with investment management and banking interests. To view Stanford University Draper Funds complete investments history, request access, To view Stanford University Draper Funds complete co-investor history, request access, Morningstar Institutional Equity Research. What does that mean for the legal profession? Schools and departments are responsible for communicating any restrictions on use of funds so that Controller's Office staff can set up the account correctly. Individual fund balances are controlled by the fund owner. Our community mourns the loss of John Arrillaga, whose extraordinary generosity has had a profound impact on our university for more than half a century, said Stanford University President Marc Tessier-Lavigne. Arrillaga is survived by his wife, Gioia Fasi Arrillaga; two sisters, Alice Arrillaga Kalomas and Mary Arrillaga Danna; a brother, William Bill Arrillaga; his daughter, Laura, and her husband, Marc Andreesen; his son, John, and wife Justine Stamen Arrillaga; and four grandsons. More information is available in Guide Memo 3.3.1:Infrastructure Charges. Click to further refine these results. We look forward to engaging with our supporters to understand the ways they would like to make a difference for Stanford Athletics and to connecting them with funding opportunities that will allow them to support the teams and priorities that matter most to them. Some of those positions were directly related to the sport discontinuations, while others were part of unrelated department restructuring. Today, Walsh describes him as "the very essence, the very symbol of Stanford and its athletic program.". Investor and director in a wide variety of industries. may be transferred out of the endowment with the approval of the school financial officer, the University Chief Financial Officer and the Provost. This website uses cookies to improve your experience while you navigate through the website. The Board of Trustees Intermediate Pool Authorization and Investment Policy, adopted on October 18, 2016, sets forth guidelines for investments and withdrawals into and out of the intermediate pool (IP). Fortune once described Arrillaga as perhaps the richest man in Silicon Valley who didnt make his money starting a tech company.. Stanford, California 94305. In a very short period, I am truly struck by the generosity and impact of the Buck/Cardinal Club and the DAPER Investment Fund. As of September 1, it is the official University Consolidated Budget. Funds without such terms of limitation are referred to in the University accounting system as Unlimited. He has also transformed our physical campus his deep philanthropic support matched only by the gift of his time and his expertise in architecture, construction and more. The Arrillaga Family Sports Center, Arrillaga Center for Sports & Recreation, Arrillaga Outdoor Education and Recreation Center, the Arrillaga Gymnasium & Weight Room, Arrillaga Hall and the Arrillaga Rowing & Sailing Center are all named for his gifts, among other sports facilities. Funds that are not Permanently Restricted or Temporarily Restricted are treated as Unrestricted for external reporting purposes. These are created at the request of an internal University unit (department, school, etc.). 326 Galvez Street His most significant gifts to the university include a donation of $151 million in 2013, which was made to support a variety of university projects, and was the largest single gift to Stanford from a living individual at the time; major support for the Escondido Village Graduate Residences, which has created much-needed on-campus housing for more than 2,400 graduate students; and a transformational gift to eliminate medical school debt for students with need. The Natural Capital Project is working with development banks and 10 pilot countries to put the environment at the forefront of policy and investment decisions. In those days, an athletic scholarship covered tuition, and scholarship recipients were required to help pay their way by working for the university. Arrillaga grew up as one of five children in a working-class family in Inglewood, California. 12. Curt Riggs is Managing Director for Underwriting & Asset Management of RMWC and is responsible for underwriting new opportunities and asset managing existing investments. The Universitys Chief Financial Officer and Provost are jointly authorized to make an exception to these minimums. His achievements are recognized in the universitys Athletic Hall of Fame, and he was often spotted at Jimmy Vs Sports Caf, a gathering spot for student-athletes, coaches and staff. To that end, over the past year, Athletics has experienced unprecedented fundraising success, and we are looking forward to building on this momentum as we partner with our alumni, parents and friends to support our remarkable student-athletes and ensure the continued competitive success of their teams. Requests from an administrative unit must be approved by the Provost. Curt holds a B.S. Income payments continue for the beneficiaries' lives or, in some cases, for a term of up to 20 years. These costs include utilities, building maintenance, and administrative support. The University Budget Office in the Provost's Office maintains the budget system, approves the budget submissions of all schools and departments, and monitors and reports on variances from the approved budget. These monies are used to purchase quasi shares in the Endowment. Through his unmatched passion and transformational impact, he has laid a foundation for Stanford to achieve remarkable things, and we will do our very best to live up to his legacy. In 2020, they made a generous gift to help with unexpected costs incurred in the fight against COVID-19. As necessary, analysis and explanation of changes from the previous fiscal year to the current fiscal year are also provided by the budget units. Income from outside sources related to programs, patents and royalties, program activities, affiliations, ticket income and the like are collected throughout the institution. Start over You searched for: "library" Remove constraint "library" Publisher The DAPER Investment Fund Remove constraint Publisher: The DAPER Investment Fund 1 item found Sort by relevance 9. From 1986-1997, Coleman was Chairman/CEO of World Airways, where he led a successful turnaround while navigating the effects of the Gulf War and a severe industry recession. Once the 36 Sports Strong proposal was brought forth, university leaders met with leaders from the 36 Sports Strong group, and President Tessier-Lavigne asked the Board of Trustees to review the proposal and provide input to university management. These boards will continue to be composed of dedicated volunteers representing the diverse interests, passions and constituencies that exist among the Stanford Athletics community. Douglas Abbey, Chris Mahowald, Sara Gaviser, Whitney Birdwell, Chris Mahowald, Hanna X. Tian, Melinda Ellis Evers, Chris Mahowald, Cody Evans, Brian Patterson. The fund number, also referred to as the award number, is included in the chart of accounts. Michael joined Coleman Andrews in 2007 in the formative stages of RMWC and was closely involved in the construction of the multi-strategy vehicle in 2011, and served as its Director of Research from 2012 launch through March 2020. Arrillaga emphasized the importance of philanthropy to his family. Based on the circumstances now before us, we believe such an approach can succeed. John will be missed often and remembered fondly.. He serves as the Director of Finance and Operations, responsible for operations, finance and infrastructure, and is also the Chief Compliance Officer. We also use third-party cookies that help us analyze and understand how you use this website. Arrillaga-Andreessen is a philanthropic entrepreneur, lecturer in business strategy at Stanford Graduate School of Business, and founder and board chair of the Stanford Center on Philanthropy and Civil Society. Dove, Terms of Endearment and The Last Picture Prior to Ladder Capital, Mike has held various positions within commercial real estate lending platforms including: Vice President at Socit Gnrale, Director at Cantor Fitzgerald and Vice President at PNC Bank. There are also funds that contain what are known as Pool B Limited shares. Johns support has been life-changing for countless Stanford students. Budget Officers in schools and departments coordinate all budget activities within their respective organizations in collaboration with the University Budget Office in the Provost's Office and the Controller's Office. These activities coincided with improvement in the financial investment markets over the last 10 months. Investment fund Weston Capital Management (WestCap) and growth investment firm Valor Equity Partners co-led the series A extension. Plant Funds are funds that have been received or designated by the Trustees for facilities and retirement of indebtedness. His real estate private equity firm invests across product types throughout the U.S. and Europe. John Arrillaga, Jr., is co-founder and principal at A&E Real Estate Holdings, which invests in neighborhoods in New York City. She and her husband, Marc Andreessen, are longtime supporters of Stanford Health Care and made the lead gift for the Marc and Laura Andreessen Emergency Department in 2007. Income is used to support operations, including overhead, and all income is considered unrestricted per internal reporting definitions. Over time, his initial gifts increased in size and extended to other areas of the university. What was the decision-making process and who was consulted? Prior to joining the Bass Group he was a principal for the Trammell Crow Company. Prior to founding Manistee Capital LLC, Mike spent four years at Ladder Capital underwriting and originating fixed and floating rate debt opportunities, as well as asset managing both equity and debt positions within the firm. University Human Resources Member of the Advisory. Jordan holds an MBA from Stanford University Graduate School of Business and a B.A. The minimum addition of new money to an existing FFE is $250,000. Those boards include the Board of Trustees Special Committee on Athletics, the Stanford Athletics Board, the DAPER Investment Fund and the Buck/Cardinal Club Board. The responsible agency for the federal government, which for Stanford is the Office of Naval Research (ONR), approves the rates. Exceptions to this policy must be approved by the Vice President for Development. We have a shared goal of yielding optimal results for our clients and partners. Coleman was awarded the Civilian Desert Shield/Desert Storm Air Medal by the United States Air Force for his volunteer service in the war zone during the 1990/1991 Gulf War. She also serves on the GSB Advisory Council and DAPER investment fund. This year alone, nearly 50 students are the beneficiaries of his scholarships. His most prominent investments include Baidu, Hotmail, Skype, Tesla, SpaceX, AngelList, SolarCity, Ring, Twitter . The new head coach was Bill Walsh, who would win three bowl games in his first three years at Stanford and four Super Bowls after joining the San Francisco 49ers. At the time, before it was Silicon Valley, the Santa Clara Valley was called the Valley of Hearts Delight for its flowering orchards and canneries. Joey was also the staff lead for the DAPER Investment Fund and the co-lead for Stanford Athletics initiatives in Diversity, Equity, and Inclusion from 2020-2021. But SLS scholars argue that Native people profoundly shaped the conversation. 3.1.1 Responsibility for University Financial Assets, 3.1.6 Charitable Donations by Stanford University to Other Charitable Organizations, 3.3 Infrastructure Charges and Expendable Funds, 3.8 Account Balance Reconciliation and Attestation, "Investment and Withdrawal Guidelines for Funds Functioning as Endowment Greater than $500,000", Graduate Academic Policies and Procedures Handbook, Stanford Safety, Security and Fire Report, Academic Staff-Teaching and Other Teaching Staff Handbook. Following the approval of the Stanford University Budget Plan (Consolidated Forecast) by the Board of Trustees, budget officers record the final, detailed, account-by-account budget for both revenues and expenses (salary and non-salary) in the budgeting system. Although some public and media narratives have not reflected this, Athletics and university leadership have been consistently engaged on this topic with a broad range of constituents including student-athletes, alumni, faculty and donors since July. largest bingo equipment company in No. Our aspiration is to support 36 sports at a level that enables sustained success at the highest level of intercollegiate athletics. Redwood City, CA 94063 United States. In 1998, Coleman was recruited by the government of President Nelson Mandela to lead as CEO the complex, challenging, and controversial turnaround of South African Airways, a global company with 10,500 employees and operations in 34 countries. For more information on the size and type of gifts required to create a Donor Advised Fund at Stanford, and the amount of the fund that must ultimately be designated for the use of the University, please refer to the Office of Developments website. Requests for such withdrawals must be made by July 31 for the given fiscal year; refer to the form Withdrawal Guidelines for True Endowment. The university, as trustee, manages the investment of the assets and pays a specified income to the donor, the donors designated beneficiaries, or both. Arrillaga and Peery began developing the land into small office parks, with the bet that if they built the space, the tech firms would soon follow.
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