Franciscan University of Steubenville

Franciscan University of Steubenville

Founded in 1946 by the Franciscan Friars of the Third Order Regular, Franciscan University of Steubenville is a private Catholic institution governed by a board of trustees that includes executives from EQT Exeter and retail firms. Its endowment derives from donor contributions and reinvested returns, with notable benefactors including Ward Fitzgerald, the CEO of EQT Exeter, who gave $10 million to launch a Washington, D.C. satellite mission. The university operates additional properties in Steubenville — such as the Franciscan Square mixed-use development and Christ the Teacher Academic Hall — and maintains a study-abroad campus in Gaming, Austria, housed in a 14th-century Carthusian monastery. Investment oversight is led by the Vice President of Finance, a role held by Robert Dougherty, a former PNC Financial Services executive. The portfolio spans buyout funds, fund-of-funds commitments, timberland, and direct real estate. Campus-adjacent holdings include a residential complex named Frassati Flats, a commercial inn, and a golf course repurposed for eventual development. The university also accepts cryptocurrency donations, a nod toward asset-class experimentation within a conservative long-term pool. In January 2024, the university announced a $75 million capital campaign called 'Rebuild My Church,' targeting a performing arts center and endowed chairs, which will likely influence near-term deployment and liquidity planning. The Rebuild My Church campaign is chaired by Paul Michael 'Mickey' Pohl, a Pittsburgh-based philanthropist, and has already drawn major gifts from the Teramana family. Beyond its Ohio footprint, the Austria campus and the D.C. Homeland Mission hint at a physical-asset strategy — real property acquired for programmatic expansion rather than pure financial return. Total headcount within the finance office is small, suggesting reliance on external fund managers and a co-investment posture with donors who are also fiduciaries. What separates Franciscan's endowment from peers is its governance overlap with donor-investors. Benefactors like Ward Fitzgerald, who run institutional real estate firms, sit in proximity to the finance function, creating a de facto co-investment network where a major gift to a capital campaign often aligns with a strategic property acquisition. This integrated model blends philanthropy, campus development, and endowment asset management tightly enough that distinguishing the three requires tracing the same few names across multiple entities.