Units may wish to invest unrestricted operating funds in the Long-term Investment Pool (LTIP) by creating a fund functioning as an endowment (FFE). This vehicle functions much like a mutual fund, whereby participants buy shares at the current market rate and receive a per-share annual income payout as determined by Cornell's board of trustees.
The market value and market value per-unit figures presented below for prior years are unaudited. Long-term investment pool (LTIP) transactions are processed each month using the unaudited unit values. At each year-end, if a significant fluctuation occurs between estimated and actual market values, a separate, audited, market value and unit value will be reported for June 30. If the audited and unaudited unit values differ, LTIP transactions will not be adjusted.
The Long-Term Investment Pool (LTIP) is similar to a mutual fund and includes both domestic and global investments. All securities are handled by outside managers. Funds invested in the LTIP include true endowments, funds functioning as endowments, and other funds that are not expected to be spent for at least three years. The objective of the pool is to produce a reasonable return coupled with capital appreciation.
Invested Funds is responsible for overseeing the accounting for and compilation of financial reports on endowed, medical and contract college endowment, and similar funds. The staff is the liaison with the Investment Office, the Trust Office, Alumni Affairs and Development's Information Services Office, and units associated with endowment and similar fund accounts. Other areas of responsibility include the long-term investment pool (LTIP).
Use the following systems to access documentation for transactions on Weill Cornell Medicine (WCM) accounts that have been entered into the Ithaca General Ledger, affecting accounts C79-1014 and C79-1025.