# Vanguard University of Southern California Endowment

Vanguard University of Southern California Endowment is an Endowment / Foundation based in Costa Mesa, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Costa Mesa, United States
- **Region:** North America
- **Address:** 55 Fair Drive, Costa Mesa, CA 92626, United States
- **Founded:** 1920
- **Assets under management:** $9.8M (Altss estimate)
- **Website:** www.vanguard.edu
- **LinkedIn:** https://www.linkedin.com/company/vanguard-university

## Regulatory record

- **Reports private funds:** No

## About

The endowment was established alongside Vanguard University's founding in 1920 to provide enduring financial support for the institution. Originally a small Bible institute, the university has grown into a regionally accredited liberal arts college, with the endowment serving as a critical backstop for operations. The largest known contributors are Fred and Ruth Waugh, whose 2025 estate gift dramatically increased the fund's size, altering its capacity to sustain programs. The endowment's investment strategy is conservative and income-oriented, typical of a small college with a perpetual time horizon. Assets are deployed across a diversified portfolio that includes public equities, fixed income, and direct holdings in campus real estate such as the Vanguard Centre mixed-use property and the main campus at 55 Fair Drive. While specific manager rosters are not public, a portion of the portfolio is allocated to mission-aligned initiatives, evidenced by a grant from the Lilly Endowment for the Thriving Congregations Initiative. With a modest pool of under $10 million, the endowment is managed internally by the university's finance committee and does not maintain a separate investment office. The fund's scale is a function of its niche position as a small, faith-based institution outside major endowment peer groups. What distinguishes this endowment structurally is its integration with the Assemblies of God denomination. Governance is shared between an independent university board and the ecclesiastical body, creating an unusual dual-loyalty model. Investment decisions must balance fiduciary duty to the institution with the denomination's doctrinal priorities, adding a layer of complexity uncommon among secular or even most religiously affiliated endowments.

## Sectors

- Education

## People

- Fred Waugh — Major Donor
- Ruth Waugh — Major Donor
- Patty Arvielo — Donor; Namesake, Patty Arvielo School of Business and Management

## Questions

### Who makes investment decisions for the endowment?

The university's finance committee oversees the endowment, given its modest size. There is no dedicated chief investment officer or separate management company. The committee operates under a board that answers jointly to the university and the Assemblies of God denomination.

### What is Vanguard University's relationship with the Assemblies of God?

The university is one of several higher-education institutions affiliated with the Assemblies of God, a Pentecostal denomination. The church provides spiritual oversight and governance influence, while the university maintains its own board and regional accreditation through WSCUC. This relationship shapes the endowment's parameters around mission-aligned investing.

### Does the endowment hold direct real estate?

Yes, the portfolio includes direct holdings in campus properties, including the Vanguard Centre at 115 Santa Isabel Avenue and the main campus at 55 Fair Drive, both in Costa Mesa. These assets serve dual purposes as operational facilities and long-term capital reserves.

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Last updated: 2026-08-11T02:43:31.692Z

Canonical page: https://altss.com/profile/vanguard-university-of-southern-california-endowment

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