Council of Independent Colleges

Council of Independent Colleges

Founded in 1956, the Council of Independent Colleges is an association of over 700 nonprofit independent colleges, universities, and state-based councils. President Marjorie Hass governs an entity that functions as both an advocacy organization and a financial steward for member institutions — a dual mandate uncommon among higher-education consortia. CIC's investment strategy spans buyout, distressed debt, co-investment multi-manager, fund of funds, and special situations. The organization channels capital through a dedicated endowment vehicle, the CIC/UPS Educational Endowment, which is fueled by long-term corporate philanthropy. Lilly Endowment Inc. provided a $15.2 million grant in 2023 (per Altss research), reinforcing the endowment's capacity to fund scholarships and institutional programming. The estimated $44M endowment (Altss estimate) operates under the guidance of Vice Chair for Investment Paul Dimitruk, a co-founder of Partners Capital. CIC operates from One Dupont Circle in Washington, DC, sharing a policy ecosystem with the American Council on Education and the National Association of Independent Colleges and Universities. The CIC/UPS Scholarship Program remains the primary vehicle for deploying philanthropic capital, complementing the endowment's investment activity. CIC's structural differentiator lies in its configuration as an association that directly manages an institutional-quality endowment alongside a grantmaking arm. Most trade groups do not run their own investment pools or partner with outsourced CIOs like Partners Capital; CIC's governance architecture embeds asset-management discipline inside a policy-advocacy body.