ethanporcaro/eric-fulltext-meta huggingface dataset:
Alternatives Reality: What to Expect from Future Allocations
Author: Sedlacek, Verne O.
Date: 2014-01-00
Type: Reports - Evaluative
Subjects: Endowment Funds,Higher Education,Investment,Resource Allocation,Financial Services

For well more than a decade, the &quot;endowment model&quot; of investing has been synonymous with increasing allocations to alternative investment strategies, defined largely as hedge funds, private real estate, private equity and venture capital and other, generally less liquid or illiquid strategies compared to public markets. This trend towards alternatives continued unabated until the financial market crisis, paused and then continued the growth path, albeit at a slower rate. Today, the largest educational endowments allocate on average more than half of their portfolios to alternative investment strategies. More broadly, nonprofits of all types regardless of size have generally significant allocations to alternatives. Pension funds, while at much lower allocations, have likewise shifted assets toward alternatives in an effort to boost investment performance and dampen volatility. This begs the question: have investors been adequately compensated with higher risk adjusted returns compared to traditional strategies over this period of growth? And, perhaps more important, what should investors expect from their allocations to alternative strategies in the future? In this paper, the author opines that there is clear academic and empirical evidence that alternative investment strategies have contributed significantly to portfolio returns over the last 20 years. And he concludes that the fundamental principles that have contributed in the past to higher investment returns among alternative investment strategies, compared to traditional long-only equities and bonds, remain largely unchanged looking to the future. As such, investors that allocate capital to alternatives--with the pronounced caveat that investment talent matters--should continue to exhibit higher performance in comparison to those institutions that allocate solely to traditional assets. This paper provides both a retrospective of the last two decades of growth in alternatives to assess the extent to which alternatives have &quot;worked&quot; and offers a perspective on the role and relative importance of alternatives going forward.
Effective School Leaders. Q&amp;A with Eric A. Hanushek, Ph.D. REL Mid-Atlantic Teacher Effectiveness Webinar Series
Author: Regional Educational Laboratory Mid-Atlantic (ED)
Date: 2014-10-09
Type: Opinion Papers
Subjects: Administrator Effectiveness,Teacher Effectiveness,Instructional Leadership,Faculty Mobility,Disadvantaged Schools,Principals,Elementary Secondary Education

This webinar on effective school leaders discussed the important relationship between a school's socio-economic status, school leadership, and teacher turnover rate. Participants explored the major role of school leaders in fostering teacher effectiveness and discussed strategies they can use at the local level to increase school leader competencies. This Q&amp;A addressed the questions participants had for Dr. Hanushek following the webinar. Links to the webinar recording and PowerPoint presentation are also available through hyperlinks in the document.
Teacher Evaluation: Alternate Measures of Student Growth. Q&amp;A with Brian Gill. REL Mid-Atlantic Webinar
Author: Regional Educational Laboratory Mid-Atlantic (ED)
Date: 2013-10-29
Type: Reports - Descriptive
Subjects: Teacher Evaluation,Academic Achievement,Achievement Gains,Models,Educational Objectives,Elementary Secondary Education

This webinar described the findings of our literature review on alternative measures of student growth that are used in teacher evaluation. The review focused on two types of alternative growth measures: statistical growth/value-added models and teacher-developed student learning objectives. This Q&amp;A addressed the questions participants had for Brian Gill following the webinar. The webinar recording and PowerPoint presentation are also available via hyperlinks in this document.
Common Core State Standards and Teacher Effectiveness. Q&amp;A with Ross Wiener, Ph.D. REL Mid-Atlantic Teacher Effectiveness Webinar Series
Author: Regional Educational Laboratory Mid-Atlantic (ED)
Date: 2013-10-10
Type: Reports - Descriptive
Subjects: State Standards,Academic Standards,Teacher Effectiveness,Elementary Secondary Education

In this REL Mid-Atlantic webinar, Dr. Ross Wiener, Vice President and Executive Director of the Education and Society Program, Aspen Institute, discussed strategies for integrating the Common Core State Standards (CCSS) into teacher effectiveness systems, including ways in which the CCSS can support professional growth and inform teacher evaluation systems. This Q&amp;A addressed the questions participants had for Dr. Wiener following the webinar. The webinar recording and PowerPoint presentation are also available through hyperlinks in the document.
Assessing the State of Healthcare: Connecting Today's Priorities to Tomorrow's Promise
Author: Jarvis, William F.
Date: 2013-02-00
Type: Reports - Evaluative
Subjects: Health Services,Access to Health Care,Medicine,Physicians,Clinics,Hospitals,Delivery Systems,Models,Change Strategies,Endowment Funds,Income,Donors,Barriers,Business,Debt (Financial)

Nonprofit healthcare organizations are confronting an unprecedented series of challenges as they strive to maintain positive operating margins in the face of declining reimbursement from insurance companies and governmental payers. The crisis is particularly acute at smaller and mid-sized organizations. Having played a major role in their communities for decades, they are finding that the healthcare business model is changing. Medical practice models are being upended as many doctors are closing their independent clinical practices and becoming hospital employees in response to decreasing reimbursement levels and ever-greater demands for capital investment, and in pursuit of a more manageable professional lifestyle. In hospitals and clinics, the old-style model of brick-and-mortar buildings located in major urban centers is being challenged by new delivery systems such as suburban mall-style &quot;big box&quot; shell structures with flexible wards that can easily be changed in response to the advent of new equipment and practices, free from the strictures of plaster walls and concrete slabs. This paper will argue that healthcare organizations must consider adopting the endowment management model that has been developed over the last three decades by educational institutions and increasingly copied by other types of nonprofits. The fact that it will take healthcare organizations several years to implement these changes and begin to reap their benefits makes this task all the more urgent. Along the way, leaders of healthcare organizations will need to consider the following questions: What is the role of the endowment in our healthcare organization? How do actual and potential donors evaluate our skill in managing our present endowment? How can we make the case for larger endowments--and contributions--at a time of fiscal uncertainty? It is in the interest of healthcare organizations, rating agencies, and donors that healthcare endowments evolve toward becoming more like those of other long-term nonprofit institutions.
From SRI to ESG: The Changing World of Responsible Investing
Author: Caplan, Lauren
Date: 2013-09-00
Type: Reports - Evaluative
Subjects: Investment,Social Responsibility,Higher Education,Nonprofit Organizations,Philanthropic Foundations

Thoughtful investment professionals continue to debate whether a portfolio's long-term performance can be enhanced by including environmental, social, and governance (ESG) considerations in the security selection process, but responsible investing is more than a passing trend. The terms socially-responsible investing, mission-related investing, impact investing, and environmental, social, and governance investing--all frequently grouped under the heading of responsible investing--have become a familiar part of the vocabulary of institutional and retail investors. Just what these terms mean in practice, however, and how their practitioners' claims can be impartially assessed, has been less clear. The goal of this paper is to provide a road map to the responsible investing landscape for governing boards and committees who are considering whether and how to integrate environmental, social, and governance factors into their investment process. The authors begin with a review of the principal categories of responsible investing, and assess the way in which the world of responsible investing has moved from a practice of negative screening and exclusion of certain types of investment to one of seeking or encouraging certain characteristics in portfolio companies. They offer their views in: Part I: Responsible Investing: Terminology and Background; Part II: Common Concerns about Responsible Investing; and Part III: Integration of ESG Factors: Some Practical Steps. The responsible investing landscape is changing. Formerly limited to SRI processes characterized by negative screens, responsible investing now sees an increasing emphasis on research techniques that emphasize positive environmental, social, and governance factors. Strengthening the intellectual case for ESG is the recognition by lawmakers and regulators that ESG analysis can be consistent with, or even bolster, traditional fiduciary responsibilities.
Endowment Spending: Building a Stronger Policy Framework
Author: Sedlacek, Verne O.
Date: 2010-10-00
Type: Reports - Research
Subjects: Endowment Funds,Higher Education,Educational Finance,Expenditures,Investment,Trend Analysis,Financial Policy,Financial Support

A large and growing body of work exists on the subject of endowment investing, but the equally important topic of endowment spending is treated less often. While the degree to which endowed institutions depend on their endowment for budgetary support varies widely, the market crisis of 2008-09 demonstrated that failure by the endowment to provide the expected level of cash support to the institution's operating budget can seriously undermine the mission--and, perhaps, the viability--of the institution. Yet the two major market declines of the last decade have also exposed significant weaknesses in prevailing endowment spending policies and practices, as spending methodologies have failed to protect endowment institutions against excessive volatility in the financial support they obtain from their endowments. This paper will analyze and discuss the following issues, using data from the 2009 NACUBO-Commonfund Study of Endowments® (&quot;NCSE&quot;), a comprehensive survey of financial, investment, and governance practices at 842 colleges and universities: (1) what is the current state of endowment investment and spending practice?; (2) What are the key variables in endowment spending?; (3) What are the emerging trends in spending rates and policies?; (4) What role is played by other sources of funds such as gifts and government funding?; (5) What alternatives to current practice are available; and (6) what are the implications for future spending practice? The following are appended: (1) Shifting to the Banded Inflation Spending Rule; (2) About the Authors; and (3) About Commonfund Institute and Commonfund.
Managing Counterparty Risk in an Unstable Financial System
Author: Belmont, David
Date: 2012-11-00
Type: Reports - Evaluative
Subjects: Banking,Finance Occupations,Financial Problems,Deception,Ethics,Disclosure,Compliance (Legal),Credit (Finance),Risk,Best Practices,Risk Management,Money Management,Documentation,Fees

The recent flow of headlines excoriating bankers and financiers for malfeasance, fraud, and collusion has been almost biblical in proportion. Counterparties that appeared creditworthy based on financial statements and ratings have revealed that they are impaired either due to computer errors, control failures, malfeasance, or potential regulatory liabilities. In sequential scandals, financial institutions disclosed that they had dramatically violated principles of business conduct required by shareholders, creditors, clients, and the regulatory and legal codes. Justifiably, investors wonder if the current financial system is any safer than it proved to be in the Credit Crisis. While a host of regulatory reforms have been undertaken to make the financial system safer since the Credit Crisis, and the reforms are aimed at making markets and institutions more transparent, less complex, and less leveraged, they do not appear to have yet made the financial system safer for investors. Investors should have an explicit strategy to manage risks when investing. This paper describes what the author believes to be best practice counterparty risk management that should be undertaken by an investor acting directly and relying on counterparties for certain investment and custodial services or by an investor relying on an advisor to invest on their behalf and manage counterparty risk. Strategies for managing counterparty risk are also detailed.
Supporting Youth Transitioning out of Foster Care. Issue Brief 1: Education Programs. OPRE Report No. 2014-66
Author: Dworsky, Amy
Date: 2014-12-00
Type: Reports - Evaluative
Subjects: Foster Care,Transitional Programs,Independent Living,Federal Legislation,Eligibility,Program Evaluation,Educational Attainment,Program Effectiveness,Achievement Gap,Adolescent Development,Outcomes of Education

Youth transitioning out of foster care and into adulthood need many supports to navigate the challenges they face. Over the past three decades, federal child welfare policy has significantly increased the availability of those supports. In 1999, the Foster Care Independence Act amended Title IV-E of the Social Security Act to create the Chafee Foster Care Independence Program (the Chafee Program). This amendment doubled the maximum amount of funds potentially available to states for independent living services and gave states greater discretion over how they use those funds. More recently, a provision in the Fostering Connections to Success and Increasing Adoptions Act of 2008 gave states an option to extend eligibility for Title IV-E foster care for youth beyond age 18 until age 21. In states that have taken this option, young people can receive an additional three years of foster care support to prepare for the transition into adulthood. ACF contracted with the Urban Institute and its partner Chapin Hall at the University of Chicago to plan for the next generation of evaluation activities funded by the Chafee Program. This brief focuses on educational programs. The brief reviews what we currently know about educational attainment of youth in foster care, considers the existing evidence on the effectiveness of educational programs, and concludes with issues for the field to consider as we move toward the next evaluation of the Chafee Program. [This brief series is a product of the Planning a Next Generation Evaluation Agenda for the John H. Chafee Foster Care Independence Program Project, contracted by the Administration on Children and Families and led by the Urban Institute and Chapin Hall at the University of Chicago.]
The First Year of Accelerating Opportunity: Implementation Findings from the States and Colleges
Author: Anderson, Theresa
Date: 2014-09-00
Type: Reports - Research
Subjects: Vocational Education,Basic Skills,Adult Basic Education,Credentials,Skill Development,Job Skills,Career Education,Technical Education,Community Colleges,Educational Change,Educational Policy,Program Implementation,Team Teaching,Sustainability,Education Work Relationship,Surveys

Launched in 2011, the Accelerating Opportunity (AO) initiative aims to increase the ability of students with low basic skills to earn valued occupational credentials, obtain well-paying jobs, and sustain rewarding careers. AO encourages states to change the delivery of adult education for students interested in learning career skills by enrolling them in for-credit career and technical education courses at local community colleges as they improve their basic education and English language abilities. The initiative promotes and supports the development of career and college pathways that incorporate contextualized and integrated instruction, team teaching between adult education and college instructors, and enhanced support services at community colleges. AO is also designed to change how states and colleges coordinate with government, business, and community partners and reform policy and practice to fundamentally change how students with low basic skills access and succeed in postsecondary education and the workforce. Four states--Illinois, Kansas, Kentucky, and North Carolina--received grants to begin implementing the AO model in the 2012 spring semester and oversaw the development of career pathways in 33 community and technical colleges. A fifth state--Louisiana--began implementation in the 2012 fall semester at nine additional colleges. In the first year of implementation, these 42 colleges enrolled nearly 2,600 students and built capacity to provide team teaching with college and adult education instructors, offer comprehensive support services, and develop and strengthen partnerships to support the sustainability and scaling of AO. As a part of a rigorous evaluation of the AO initiative, this first report assesses the implementation of the initiative during its first year, which consists of the spring, summer, and fall semesters of 2012 in the original four states and the fall 2012, spring 2013, and summer 2013 semesters in Louisiana. The data presented in this report come from a survey of all AO colleges, site visits to the five states, grant documents, and quarterly calls with AO states and colleges. This report provides key findings from the early implementation that have helped the AO initiative develop strategies for its continuation and offers lessons for other states and colleges considering the AO model. The following is appended: Required Elements of AO and Theory of Change.
Case History: The Spelman College Endowment
Author: Commonfund Institute
Date: 2009-03-00
Type: Reports - Research
Subjects: Black Colleges,Endowment Funds,Case Studies,Money Management,Program Effectiveness,Donors,Strategic Planning,Standard Setting,Goal Orientation,Governance,Trustees,Fund Raising,Leadership,Financial Policy,Resource Allocation,Outreach Programs

This white paper presents a case history of the Spelman College endowment and how good financial management and alternative strategies for the growth of the endowment has made Spelman's one of the largest among U.S. Historically Black Colleges and Universities (HBCUs). How has Spelman College been able to grow its endowment funds to this level? A review shows that over the past three decades, Spelman's financial officers have applied five factors that can be emulated by other institutions for the objective of growing their own endowments. They are: (1) developing and maintaining relationships with donors; (2) recognizing that alternative strategies offer the potential to add value beyond traditional equities and fixed income; (3) being open and opportunistic; (4) setting high standards of governance and actively promoting trustee involvement; and (5) learning how to make use of an effective fund-raising infrastructure. Spelman has also benefitted from a succession of strong presidents and the careful marshalling of its resources. These leaders have provided Spelman with continuity, skill, and a passion for building the financial resources of this flagship HBCU. This paper takes a closer look at the factors that have been behind the endowment's growth over the years and weaves in closely related historical points and topics, such as Spelman's spending policy.
Developing Housing and Education Partnerships: Lessons from the Field. Research Report
Author: Gallagher, Megan
Date: 2015-03-00
Type: Reports - Research
Subjects: Public Housing,Urban Schools,Partnerships in Education,Low Income Groups,Case Studies,Public Schools,Educational Attainment,Attendance,Achievement Gap,Elementary Secondary Education,Early Childhood Education,Program Effectiveness,Objectives,Data,Decision Making,Financial Support,Coordination,Administrative Organization,Program Administration

Schools and youth-serving organizations often struggle to better meet the needs of low-income students and to connect them to resources that can stabilize their lives and strengthen their academic competencies. Assisted-housing providers, including housing authorities, are in a unique position to support educators, low-income students, and their caregivers outside the school day. By partnering with schools and school districts, housing providers can help address challenges outside school that can become barriers to learning--such as housing instability, truancy, and health problems. Their roles as developers and landlords create opportunities to connect housing and education. As developers, housing authorities can build or repurpose facilities and bring education supports closer to assisted-housing developments. As landlords, housing authorities can expand on-site resources and change the quid pro quo for housing assistance; if a housing authority wants to use its leases to require school attendance or education planning for young residents, it can. Housing authorities can also facilitate connections with schools and school districts through data sharing. The housing field is exploring creative approaches and promising practices to further link housing and education services. The Council of Large Public Housing Authorities (CLPHA) is a membership association that represents 70 of the nation's largest public housing authorities. To help meet its members' desire to support educational outcomes for low-income students, CLPHA kicked off an education initiative in 2013. The initiative started with CLPHA's &quot;Bringing Education Home&quot; report (Council of Large Public Housing Authorities 2012), which scanned promising practices of members that were leveraging their role as housing providers to help boost academic achievement for children in assisted housing. Today, CLPHA is providing technical assistance and field-building support to practitioners, conducting policy advocacy on Capitol Hill, and entering partnerships with other national organizations to advance meaningful and sustainable partnerships between the housing and education sectors. As part of that effort, and with the support of the Bill and Melinda Gates Foundation, CLPHA enlisted the Urban Institute to develop a set of case studies to document and describe housing and education partnerships in three diverse settings: Akron, Ohio; New Haven, Connecticut; and Vancouver, Washington. Each case study highlights key elements that shape and strengthen the partnership. This report summarizes the innovative approaches and promising practices that emerged from the three sites.