# Franklin & Marshall College

Franklin & Marshall College is an Endowment / Foundation based in Lancaster, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Lancaster, United States
- **Region:** North America
- **Address:** 415 Harrisburg Ave, Lancaster, PA 17603, United States
- **Founded:** 1787
- **Assets under management:** 439.2 (Altss research record, 2024) (Altss estimate)
- **Website:** fandm.edu
- **LinkedIn:** https://www.linkedin.com/school/franklin-&-marshall-college/

## Regulatory record

- **Reports private funds:** No

## About

Franklin & Marshall College was founded in 1787 as a private liberal arts institution. Its endowment originated from early gifts including Benjamin Franklin's contribution and has grown through alumni donations tracked in the Founders Society. The endowment holds 30.79 percent in private equity alongside public equities, energy exposure via the Vanguard Energy Index Fund, and direct real estate assets on the 220-acre Lancaster campus. Confirmed holdings include the Phillips Museum of Art collection exceeding 10,000 works and joint-venture student housing projects with Campus Apartments, Inc. and Silverang Development Company. Geographic exposure centers on the United States with additional global energy and infrastructure positions. The college employs Investure LLC as investment advisor and maintains relationships with Cambridge Associates. October 2024 saw the dedication of the Samuel N. and Dena M. Lombardo Welcome Center on campus. The endowment also supports the Founders Society and Kite & Key Circle recognition programs for major donors. Governance rests with the Board of Trustees, whose members include partners from KKR, Advent International, and Context Capital Partners. This structure separates endowment management from the college's operating budget while directing returns toward student aid and facilities.

## Sectors

- Education

## People

- Eric W. Noll — Chair of the Board of Trustees
- Matthew N. DesChamps — Chair-Elect of the Board of Trustees

## Questions

### Who runs investment decisions at Franklin & Marshall College?

The Board of Trustees oversees the endowment with Eric W. Noll as chair. Investure LLC acts as the external investment advisor since 2006.

### Does Franklin & Marshall College participate in fund commitments or only direct deals?

The endowment commits to private equity funds and holds direct real estate assets on campus. It also maintains positions through Investure vehicles.

### What asset classes does the endowment allocate to?

Allocations include private equity at 30.79 percent, public equities, energy exposure, and direct campus real estate holdings.

### Where does Franklin & Marshall College source its investment advice?

Investure LLC has provided advisory services since 2006. Cambridge Associates serves as an additional consultant.

### How is the endowment related to the college's operating activities?

The endowment supplies income for financial aid, academic programs, and facilities while remaining separate from the college's 501(c)(3) operating budget.

## Related profiles

- [Whitney Museum of American Art Endowment](https://altss.com/profile/whitney-museum-of-american-art-endowment)
- [Oakwood Real Estate Partners](https://altss.com/profile/oakwood-real-estate-partners)

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Last updated: 2026-07-06T00:33:39.935Z

Canonical page: https://altss.com/profile/franklin-marshall-college

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