A student forum was held in Taylor Lounge on Sept. 26th to discuss Knox College’s endowment. This forum included Chief Financial Officer Alec Guroff and other senior leadership team members. Concerns were raised by students over the endowment’s financial allocation.

The discussion focused on the role and management of the endowment. Endowments are primarily funded by donations and managed for long-term growth, with spending controlled by the board. Endowment funds are used for various purposes, including financial aid, teaching, research, innovation, public service, athletics, and general operations.

It was clarified that the endowment’s current value does not equate to the amount available for immediate spending, citing Knox’s $170 million endowment versus the $15 million spent annually. Historical contributions include a $10 million gift made in 2006, now worth $15 million.

In 2017, the endowment’s management was transferred to T. Rowe Price, with the board following an investment policy. The total endowment value is calculated as an average of the previous 12 quarters, which helps stabilize spending levels. The board determines the percentage of the endowment to be spent each year, with Knox College currently spending 7 percent to support campus operations.

“If there are other things that you all are thinking about that you want more information about, we’re happy to provide a presentation or more information,” President Andrew McGadney said.

The Knox Advisory Committee on Socially Responsible Investing (KACSRI) was established to assist the college president on socially responsible endowment investments. This committee was active previously at Knox, but has not been used in several years. The first meeting of the new committee is scheduled for Oct. 11. Students at the forum were invited to share any questions or concerns with the assurance that the committee will address the issues.

KACSRI is composed of faculty, staff, and students. Students and staff can contact committee members or staff to discuss specific issues. The recommendations from KACSRI will be communicated to the board of leadership to address community concerns.

One student inquired about the need for additional improvements to campus accessibility. In response to their inquiry, the previous reconstruction of a central walkway across campus was emphasized because its brick structure made it challenging to use in the past. Additionally, the president’s office was moved to Alumni Hall, which features an elevator.

The most recent campus accessibility project is the addition of an elevator in GDH, which is the second most used building for classes on campus. The elevator will help staff and faculty with mobility challenges, allowing them to access offices and classrooms on floors other than the first. A Umbeck Science-Mathematics Center (SMC) renovation project is in the works, and accessibility features are being incorporated.

Additionally, the design of the new Green Oaks facility ensures it is accessible, with all spaces being on one level and including accessible restrooms and living spaces. The conversation emphasized the continuous effort to improve accessibility across campus, with ongoing projects and future plans.