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Trustee (and proud Macalester parent) Jeff Larson '79 talks about his roles at the college
Jeffrey B. Larson '79 wears three hats at Macalester: alumnus, chair of the Board of Trustees and parent. He joined the board in 2002 and became chair last year. His daughter, Elizabeth, is a first-year student. Larson is managing partner of Sowood Capital Management LP in Boston. He and his wife, Janet, and son, Phillip, live in Wellesley, Mass. He discussed his different roles in an interview with Doug Stone, director of college relations, for Macalester Today.
What do you remember most fondly about your Mac experience?
I remember a lot of things fondly. I debated for three years and [Professor] Scott Nobles was a great mentor. As an econ major, having both Vasant Sukhatme and Karl Egge as professors has to be a highlight. Then of course there is a core group of good friends I made at Mac whom I still keep in touch with.
You can point to almost any course at Macalester. In addition to the specific knowledge, you learned how to analyze and how to--as I call it today--ask the next question.
| It's that independence and that lack of conformity, if you will, that in a way unites us. |
How did you feel when your daughter chose Macalester?
Obviously, I'm proud that she's going to Macalester. It's a special place and has a special role in the world, and it's a tremendous fit for her, in terms of her values, her curiosity, etc. But I'm also proud because she made the choice entirely on her own. I had no influence whatsoever other than providing the access to Macalester. She happened to tag along to do an overnight when I was on a board trip, and it was really Macalester and the Macalester students that influenced her.
Are you enjoying your role as a trustee?
I love it. We've had some real hard discussions over the last few years about things that are extraordinarily important to the college. For example, the "strategic imperatives" document that [President] Brian [Rosenberg] wrote and that the board approved, the recent decision on admissions policies and the plans that we have for the college going forward. We have a lot of challenges. But the vision is pretty clear. We want Macalester to continue to be a tremendous institution and to fulfill its role in the world.
You seem to be someone who leads by example. Is that your style?
I hope that you are right. I try to set the example by doing. That said, hopefully I also spend some time "saying," too, speaking with people and encouraging them to support Macalester at a level that is appropriate. I think all board members feel that Macalester ought to be one of their top--if not the top--philanthropic activities. The board is an extremely hard-working group of people who do everything they can to help support the college.
What message would you offer other alums, not necessarily board members, about being active and supportive of Macalester?
There's been a perception that Macalester alums are extraordinarily independent, and once they leave they don't have the connection to Macalester that they used to have. In some cases that's true, but it may be because we've lost touch with each other a little bit. It's that independence and that lack of conformity, if you will, that in a way unites us. The common feature is that everyone is an informed and competent advocate for whatever position they have.
If there's any message that I'd like alums to have, it is that there's good reason to continue to support Macalester and to give back. Even if it's just talking to another alum who wants to network a little or going to an alumni event in your area. Giving to the Annual Fund is also a good idea, especially at the Grand Society level, if you can. But do whatever you're capable of. Help that network of what may be fiercely independent and opinionated and active individuals--help that network thrive because that's the real value of Macalester. Through Macalester, alumni can exert a lot of influence in the world--it's absolutely true.
You've spent much of your career dealing with or managing endowments. How would you explain the role of Macalester's endowment?
The first thing is to tackle the misperception that Macalester has an endowment that is so large that it never needs any other support. The Wallace gift in the early '90s was a sort of transforming gift. However, the gift itself hasn't grown all that much because of the early restrictions that were placed on it in terms of the way it could be invested. As a result, Macalester's endowment--within its peer group of institutions--is probably on the lower side relative to its academic position. So there is still a lot of support that needs to be provided.
| Through Macalester, alumni can exert a lot of influence in the world--it's absolutely true. |
In addition, the endowment is not one big pool of money that Macalester can spend however it wants. It's made up of a collection of smaller endowed gifts, such as an endowed professorship, research stipend or scholarship. Each has to be used for the purpose for which it was designated. As a result, although the endowment gives Macalester healthy support for its budget, there is still a real need for annual operating gifts, for additional endowment for other specific purposes and for capital.
We're now building the Macalester Athletic and Recreation Center, which is scheduled to be completed in the fall of 2008, and a fine arts center is in the planning stages. Why are these facilities and others important to the college?
The most obvious reason is that at some point buildings become old and inadequate, maybe even for the uses they were originally designed but certainly for the uses of today. The MARC is replacing a facility that was between 50 and 80 years old. People use health facilities today in a significantly different way than they used to. The new facility will incorporate not just intercollegiate athletics but physical fitness for everyday students. Their health and wellness activities will all come together in one area, which will also be a community gathering point. That kind of facility has been needed for a long time and will be a tremendous asset for the college.
The same is true to some extent with the fine arts center. Although the core of the Janet Wallace Fine Arts Center is strong, there are additional needs for programs and learning spaces that can be enhanced by some changes to the facility and some additions. These will provide a foundation for the college to be able to provide education and programs at the highest level, which is what we should expect.
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