How Wildcats get Involved with Endowments

Author Audrey Soemarno '27 is a Media & Communication major and works as a student assistant at JWU, contributing to JWU News.

Did you know that Johnson & Wales University students can gain firsthand investment experience by managing funds within JWU’s endowment? As a non-finance student, I had no idea what an endowment even was. With help from JWU administrators and students, I now know enough to share how endowments work. 

Endowments help fund scholarships, academic programs, athletics and co-curricular activities. These funds contribute to JWU’s growth and support for students, as they’re invested strategically with a goal of enhancing our student experience.   

Here at JWU, students have opportunities to engage directly with endowment management through the Financial Investment Academy (FIA) and the Wildcat Investment Value Fund (WIVF). These programs provide hands-on experience in financial literacy, investment strategies and portfolio management, equipping students with real-world skills.  

All About Endowments 

Endowments are funds that are strategically invested to generate long-term support for the institution. They help to fund scholarships, academic programs, athletics and co-curricular activities. 

Vice President of Advancement & Alumni Michelle Mattox explains, “An endowment is a principal amount of money in which the university, including partners from outside investment firms or corporations. Then the university can draw from these funds to help support our students.” 

Diving deeper, Vice President of Finance Danielle Santamaria says that JWU’s endowment consists of board-designated funds and donor-restricted contributions. “JWU’s board-designated funds (also known as quasi-endowed) consist of cash invested by the Board of Trustees to provide long-term financial stability for the institution,” she explains. “The Board has the authority to allocate funds for capital projects, strategic initiatives or as emergency reserves.” 

Meanwhile, donor-restricted funds are contributions with specific restrictions on how the funds can be used. “These funds can be permanently restricted (endowed), whereby only the earnings can be used for the designated purpose and the principal must remain intact,” Santamaria says. “Donations can also be temporarily restricted, whereby funds are to be used for a specific purpose; once the funds have been used as intended, the restriction is lifted.” 

She concludes, "“Endowed funds are invested to generate investment income, with returns used to provide ongoing support for the university’s operations, helping to fund expenses within the institution.”

Another great way endowments can support students: Wildcats get to work with a portion of JWU’s real endowment when they’re learning about investing. 

Student Involvement: Meet the Financial Investment Academy (FIA) 

A student-run organization at JWU, FIA helps students within the College of Business or even other students who want to learn more about investments and develop financial skills. FIA provides hands-on experience in managing an equity portfolio as part of the university’s endowment.   

FIA member Kurt Imon ’27 states, “The program’s sole purpose is to provide financial literacy and investment knowledge to its members, acting as a pipeline to get into JWU’s Wildcat Investment Value Fund (WIVF). Essentially, WIVF is a directed experimental education (DEE) and internship. We are a student-managed investment fund assisting in managing an equity portfolio that's part of the endowment for the university's funds.”  

As a Finance major, Kurt has gained valuable skills by participating in FIA and from the opportunity to network with many people in the industry and get that connection in the job market. FIA provides in-depth knowledge into the world of finance by bringing in professionals to speak and by hosting workshops for students to gain new information. The organization allows individuals to apply for positions anywhere in the industry — providing a unique addition to their resume. 

FIA ensures that students will learn to make responsible and informed investment decisions. Kurt explains, “We have a faculty advisor to have our guardrails in place and to report to JWU’s Board of Trustees. We have an end-of-year report where we present the trustees with our portfolio, sharing how much we've gained or lost and the positions we’ve sold or bought.”   

His advice to students who want to build connections in the field of finance: “be persistent.” It stems from his own experience sending out thousands of cold emails and going all the way to Boston to have coffee with a consulting manager.  “People love to see someone who’s hungry and who’s willing to put their best foot forward,” Kurt says. “As long as you stay persistent and keep making those connections, you’ll eventually have at least one person answer to start networking.”  

Katie Trella ’28, an Accounting major, is currently the vice president of FIA, whose duties include planning meetings and networking with alumni. She shares, “The mission and goal of FIA is to educate students on endowments and the world of finance.”  

Katie informs, “FIA routinely runs meetings every Friday on finance and investing, as well as going over resumes and holding LinkedIn workshops to build students up for their careers. We also connect students with alumni so they can learn more about different careers in finance.” 

Diving Deeper into the Wildcat Investment Value Fund (WIVF)  

“The Wildcat Investment Value Fund is a directed experiential education experience that stands as an internship within the university that gives you real work and hands-on experience in management in finance,” explains Anthonellis “Anthony” Morel ’26, a Business Administration major. “You understand what it's like to manage a portfolio and call the shots because it is completely student run that manages real money within the university.”  

Anthony is the portfolio manager of WIVF. “I’m currently leading the group doing lectures every Wednesday at 5pm,” he explains. “The entire goal is to catch everyone up on the university’s investment strategy overlooking the proper allocations within all our investments, making sure we have the most prosperous fund possible.” 

He adds, “The entire goal is to join FIA first to learn the basics, from terminology to careers in finance, and finish the prerequisite courses during your first two years of college. Then during your junior and senior year, if you are interested, you would end up joining WIVF.” He notes that students from all majors are allowed to join FIA and get more insight into the world of finance — but to participate in WIVF, Wildcats must take all the prerequisite courses to be able to do the DEE.   

Meanwhile, Kurt acts as the investment risk manager in WIVF. “I look at data scores and sharp ratios to assess the volatility within the portfolio,” he explains. “We have a portfolio manager, director of investments research, equity research analysts and a faculty advisor, all of whom make up the operating committee. You start off with a partner, becoming an intern with someone shadowing you. We are U.S.-equity based and use a few ways of modeling for investments. First, we use a value fund, which means that we maximize capital appreciation and dividends. Second, we use the DCF model (cashflow model), essentially figuring out how much money we need today to have today for the future. Lastly, we apply the CAPM model (capital asset pricing model) to figure out what to expect in return from an investment based on its risk.” 

A Student’s Experience Interning with the WIVF  

Matthew Regateiro ’26, another Business Administration major, is currently in the DEE/Internship program of WIVF. He shares, “I chose to join WIVF because a fraternity brother of mine knew that I aspired to be an analyst. He had allowed me to see his work and analysis of the stock he was pitching at the time, and I was instantly in awe. Ever since then, it has been my mission to contribute to the success and prosperity of the fund. WIVF has taught me invaluable lessons that an ordinary classroom would not. Having the ability to learn hands-on experience and using a platform to explore new investments is more than I could ever ask for. The best way to learn about what we do is to come to the meetings and be curious; there is so much you can learn. You can reach out to any COB professor if you are interested, and they will happily connect us.” 

Matthew’s experience in WIVF: “We make our decisions on a risk-adjusted basis ensuring that we are minimizing any risk that won’t reciprocate the equivalent in returns. Since its inception, we students have increased this fund from $150,000 (total cash infusions) to around $350,000 (current market value). Every Sunday night, the portfolio manager develops both a recap of the previous week’s activities and an agenda for what is yet to come. In conjunction with the agenda, we typically start off with an open discussion on the market, economy, geopolitical news, significant earnings reports and anything else of relevance. Then, I or any of the other members of the operating committee will do a presentation on sector news, portfolio health or investment strategy. Some meetings might include guest speakers that are active in the field. Most recently we had JWU’s own chief financial officer, Joe Green, talk to us about his responsibilities being the CFO.” 

Matthew shares some skills his internship has provided. “Some of the most valuable skills I gained from participating in the WIVF are fundamental and technical analysis, portfolio management, presentation/Public speaking and participative leadership. Aside from being able to pick a good stock, of which some strategies are taught by the operating committee/faculty advisor, the fund gives individuals the chance to see what being an analyst is really like.” 

He also shares his opinion on handling real portions of the fund: “It gives you a sense of making a difference. Using real money to make up to $10,000-dollar trade certainly plants some anxiety. While it may not seem like it, investing the university’s money may be more stressful than investing your own money when considering the volume and scope of the WIVF’s operations. It can be nerve-wracking to make those big decisions, but it can be equally, if not more, exciting. Once you make your first pitch it feels as if you have just contributed to something larger than yourself, and that is a feeling no other DEE can replicate.” 

One of the best lessons I have learned from the fund is that pitching is more than just showing the numbers and charts on the screen,” Matthew continues. “Explaining the nuances behind why a stock has a high potential value or isn’t worth holding anymore is key to getting the most out of this experience. You quickly learn how understanding all of the metrics doesn’t contribute to anything if you can’t ‘sell’ its extrinsic attributes. Presenting this in front of your team of analysts can be humbling as well. While many in the world of finance tend to say that words talk and numbers scream, the ability to tell a compelling story is another major skill indirectly taught by my experience in the WIVF.” 

Matthew’s advice for students looking to build meaningful connections in the finance world: “Know what you are talking about and stay curious. When networking with professionals in the finance field, it is of the utmost importance to know what you're talking about. This can be about the markets, job trends, emerging fields, etc. ‘Fake it till you make it’ does not apply because it will eventually catch up to you. If you don’t know what you're talking about, be sure to ask intelligent, open-ended questions. This will show your willingness to learn and your ability to handle higher-level conversations that will be much more memorable. Using this strategy will take your connections a lot farther than anything else.” 

What is the biggest takeaway Matthew has gained or hope students will gain from their experience with the Wildcat Investment Value Fund? He responds, “That you can never predict the market no matter what resources or metrics you use. The best strategy is to trust your research and make the most informed decision possible. You can always learn something new.” 

Managing JWU’s endowment serves as a valuable learning experience for students involved in FIA and WIVF, helping students gain practical insights into investment management and financial decision-making. As Wildcats navigate the complexities of managing university funds, they acquire lifelong skills that will serve them in their professional journeys.  

Apply to JWU

Visit JWU

Transfer to JWU