Director, Endowment Administration

Position Purpose

Reporting to the Chief Financial Officer, the Director of Endowment Administration plays a leadership role in the oversight of compliance activities related to Dartmouth’s endowment funds. The Director oversees the Endowment Administration Office and is responsible for the evaluation of all endowment agreements; this includes the interpretation, enforcement, and communication of donor intent. The aim is to ensure that
1) new agreements conform to Dartmouth’s endowment policies and documentation standards, and
2) existing funds are managed in compliance with Dartmouth’s legal, financial, and administrative obligations. In collaboration with various Dartmouth Officers, the Director of Endowment Administration is responsible for developing, recommending, implementing, and communicating endowment policies and documentation standards. The Director also consults with individuals responsible for the solicitation and documentation of non‑endowment gift funds to share best practices and develop consistent policies.

• Oversees activities related to the creation of new funds; the modification of existing funds; new endowment pledges; the comprehensive review of existing funds; and the prioritization of other special review projects.
• Evaluates supporting documentation and, with consultation to the Office of General Counsel (OGC) as needed, determines donor intent and Dartmouth’s legal, financial, and administrative obligations.
• Addresses any problems or concerns associated with restricted terms, and initiates or recommends corrective action when appropriate.
• Prepares a comprehensive narrative summary of fund terms for use by Dartmouth’s financial and development areas. Classifies the fund and ensures supporting documentation is maintained in a digital repository and relevant fund files.
• Researches files in various Dartmouth areas to locate relevant documents such as donor letters, wills, and trusts.
• Compiles accounting history of funds and reconciles balances to the Endowment Fund System.
• Communicates with fiscal officers and other relevant personnel to obtain information about the current utilization of endowments.
• Assists Fiscal Officers with identification of endowments funds with restrictions that are impracticable of fulfillment. Works with Advancement to amend agreements with living donors or with OGC and outside counsel to prepare notices, applications for modification and cy pres petitions for judicial and non‑judicial release of endowment restrictions.
• Identifies funds where income and/or principal are available for broader utilization to provide Dartmouth with greater flexibility in use of resources, in accordance with applicable law.
• Responsible for ensuring all funds are classified and reported according to current accounting standards (Financial Accounting Standards Board: FASB) and legal restrictions (NH Uniform Prudent Management of Institutions Funds Act: NH UPMIFA).

• Identifies and provides analysis on legal and compliance issues relating to Dartmouth endowments. Recommends resolutions with respect to these issues. Works with OGC in order to resolve complex legal problems or perform legal research.
• Considers the impact of Federal and state laws and accounting/banking standards on the current and future use of endowments.
• Provides guidance to Development, Stewardship and Fiscal Officers across campus in areas related to endowment utilization, accounting, budgeting and reporting.
• Works directly with the Chief Advancement Officer, the Senior Vice President for University Advancement, and other Advancement and Development Officers on language for endowment solicitation and gift instruments including guidance on specific language to address complicated and unusual circumstances.
• Evaluates documents to determine if they sufficiently address the elements required to establish an endowment and the extent of the endowment’s flexibility for investment and utilization purposes. Identifies other areas that raise policy issues or specific concerns.
• Oversees follow‑up with appropriate personnel or forums to ensure compliance…