Finance Office

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History of the USD Endowment

  • In 1964, the first major gift of $50,000 is received to benefit the Corcoran Endowed Scholarship Fund.
  • In 1972, the San Diego College for Women and San Diego University merge to become the University of San Diego.  Their institutional endowments, totaling $81,000, are combined to form the University of San Diego Endowment (the “USD Endowment”).
  • In 1988, the USD Endowment reaches $10 million under the Presidency of Dr. Author E. Hughes, through diligent stewardship of donor contributions and investment returns.
  • In 1993, the Investment Committee of the Board of Trustees authorizes the first international investment of USD Endowment funds.
  • In 1996, the Investment Committee authorizes the first venture into alternative investments, products other than traditional stocks and bonds.
  • In 2000, the USD Endowment reaches $100 million under the Presidency of Dr. Alice B. Hayes.
  • In 2004, the Board of Trustees approves the formation of a ten-year Endowment Growth Plan to ultimately benefit student scholarships and academic initiatives at the University of San Diego.  The Endowment Growth Plan articulates goals associated with donor contributions, institutional savings, and investment returns.
  • In 2004, a $50 million contribution from the Estate of Mrs. Joan B. Kroc is received for the purpose of endowing the Joan B. Kroc Institute for Peace & Justice and the Joan B. Kroc School of Peace Studies.  As the largest single gift ever made to the USD Endowment, the bequest brings Mrs. Kroc’s total contributions to the University of San Diego to $84 million.
  • In 2006, the Investment Committee of the Board of Trustees engages Cambridge Associates LLC, a global investment research and consulting firm.  Cambridge Associates consults the Investment Committee in its fiduciary oversight of more than ninety independent fund managers that comprise the USD Endowment’s portfolio.
  • In 2009, the University of San Diego partners with Northern Trust, a global leader in investment management, to serve as master custodian of the portfolio’s assets.
  • In 2012, a $20 million contribution from Mrs. Darlene V. Shiley is received to establish the Shiley-Marcos School of Engineering at the University of San Diego.
  • In 2013, the USD Endowment reaches $400 million under the Presidency of Dr. Mary E. Lyons.