# St. Francis College Endowment

St. Francis College Endowment is an Endowment based in Brooklyn, United States.

## Overview

- **Organization type:** Endowment
- **Headquarters:** Brooklyn, United States
- **Region:** North America
- **Address:** Brooklyn, NY, United States
- **Assets under management:** Under $50 million (Altss estimate)
- **Website:** sfc.edu

## Regulatory record

- **Reports private funds:** No

## About

St. Francis College Endowment is the financial engine for St. Francis College, a private Franciscan college founded in 1859 and long based at 180 Remsen Street in Downtown Brooklyn. President Timothy Cecere, formerly of WPP, and Chairman Denis Salamone steer a board that governs the endowment's use. The college is a member of the Association of Franciscan Colleges and Universities and the National Association of Independent Colleges and Universities, placing it within a network of small, mission-driven institutions. The endowment's investment posture is overwhelmingly shaped by a single transaction. In 2023, the college sold its historic 180 Remsen Street campus to Rockrose Development for $160 million and relocated to 179 Livingston Street, a Tishman Speyer property known as The Wheeler. Prior capital allocation supported student scholarships and operational needs, with known partnerships extending to Wall Street Bound for finance immersion programs. The endowment's scale is modest. Altss estimates total assets near $31 million, placing it in the micro-endowment tier. The team is not structured as a dedicated investment office; governance and deployment strategy are overseen by the Board of Trustees, with Salamone chairing the Development Committee. In September 2023, St. Francis received the Middle States Commission on Higher Education's approval for a substantive change to its multi-campus structure, a regulatory milestone acknowledging the institution's move to The Wheeler. What distinguishes St. Francis College Endowment from a generic small-college fund is the deliberate swap of a 165-year physical campus for an operating model funded by a one-time liquidity event. This is not a gradual building campaign but a structural reset — a Franciscan college now housed in a leased floor of a commercial tower, using the proceeds and corporate partnerships to fund its future rather than its real estate.

## Sectors

- Education
- Real Estate

## People

- Denis Salamone — Chairman of the Board of Trustees
- Timothy Cecere — President

## Questions

### How is the endowment related to the new campus at 179 Livingston Street?

The college does not own its new campus. It leases space at The Wheeler, a Tishman Speyer commercial building at 179 Livingston Street in Downtown Brooklyn. The move, completed alongside the 2023 campus sale, shifted the endowment's exposure from direct real estate to a more liquid portfolio used to cover lease costs and operating needs.

### What is the partnership with Cerberus Capital Management?

Cerberus Capital Management partnered with St. Francis College to launch the Transformative Technology Lab, which provides students with access to emerging technology and mentorship. The lab is housed at the new 179 Livingston Street campus and represents a strategic use of endowment-like resources to bridge academic programming with private-sector expertise.

### Does St. Francis College Endowment invest in external funds or direct projects?

The endowment's investment policy is not publicly disclosed, but its scale and structure suggest a primarily liquid, manager-delegated portfolio rather than direct private equity or venture allocations. The transaction history points to a board-managed pool focused on capital preservation and income to support the college's operational budget.

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- [Quadrivium Foundation](https://altss.com/profile/quadrivium-foundation)
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Last updated: 2026-08-11T02:43:31.692Z

Canonical page: https://altss.com/profile/st-francis-college-endowment

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