October 23, 2017 by The Daily Pennsylvanian

MONDAY, OCTOBER 23, 2017 VOL. CXXXIII NO. 80

THE INDEPENDENT STUDENT NEWSPAPER OF THE UNIVERSITY OF PENNSYLVANIA

FOUNDED 1885

A Record Endowment What does that mean for students?

Penn’s Endowment FY 2013-2017

Endowment Returns Across the Ivies for 2017 FY

15 Harvard

8.1% 14.6%

Dartmouth

9.6 9

10.1

10.6

12.5%

Princeton

Universities

Endowment (billion dollars)

12.2

11.3%

Yale

12.5%

Cornell

7.7

14.3%

Penn

13.4%

Brown

0 FY’13

FY’14

FY’15

FY’16

FY’17

Total Endowment Across the Ivies for 2017 FY

bringing the endowment’s total value to a record-high of $12.2 billion. The endowment has grown by $1.6 billion since the 2016 fiscal year, when it reported a total value of $10.6 billion despite investment losses of 1.4 percent. Returns on equity investments, which refers to the buying and holding of shares of stock on a stock market, drove most of the favorable growth, Bloomberg reported. Penn joins Dartmouth College, Cornell University, Brown University, Harvard University, Yale University and Princeton University in reporting investment growth that reached historic highs this fiscal year.

Harvard

37.1

Dartmouth

5.0

Princeton

Universities

Returns (in percent)

ALIZA OHNOUNA | Senior Reporter

enn reported one of the highest investment returns ever on its endowment for the 2017 fiscal year — but the spike is unlikely to change how Penn’s money is spent. A university endowment refers to “money or other financial assets that are donated to universities or colleges,” according to financial education website Investopedia. Typically, the purpose of the endowment is to be invested so that university’s total assets grow. And according to the website of the University’s Office of Investments, endowment funds are primarily directed towards student financial aid and faculty compensation. This year, Penn reported a 14.3 percent investment return on its endowment,

23.8 27.2

Yale Cornell

6.8 12.2

Penn

Brown 3.5

SEE ENDOWMENT PAGE 7

Total Endowment (billion dollars)

‘Daily Show’ comes to When frats break rules, Penn: Trevor Noah to students decide punishments headline SPEC event The IFC’s Judicial Inquiry Board is run by students HALEY SUH Deputy News Editor

Noah will speak on Nov. 5 at 5 p.m. at Irvine DANI BLUM 34th Street Managing Editor

The South African comedian and celebrated host of “The Daily Show,” Trevor Noah, is coming to campus. Two branches of the Social Planning and Events Committee, SPEC Connaissance, which is in charge of bringing influential speakers to Penn, and SPEC-TRUM, which represents undergraduate minorities, are collaborating to present a moderated discussion between Noah and Political Science professor Mark Pollack on Nov. 5 at 5 p.m. The event, which will take place in Irvine Auditorium on the Sunday of Homecoming weekend, will also include a question and answer segment with audience members.

PHOTO BY PAUL MOBLEY

Trevor Noah is a comedian from South Africa, famous for hosting “The Daily Show” and his 2016 New York Times bestseller.

Noah hosts Comedy Central’s satirical news program, “The Daily Show.” When Noah first took over the show from Jon Stewart in September 2015, critics were unsure whether he would be able to lead the show as successfully as his predecessor. Noah was relatively unknown in the United States

prior to 2015, and he received mixed reviews during his first few weeks on air. More recently, however, Noah seems to have cemented his comedic legacy. In November 2016, he released a New York Times bestselling SEE SPEAKER PAGE 2

Amid a recent uptick in event closures, more fraternities face the possibility of having their parties shut down. Here’s what happens after the doors to these fraternity houses are closed by the Penn Police Department. When parties are shut down, whether due to safety violations or to the failure of the fraternity to register the event with the University, the student-run Judicial Inquiry Board of the Interfraternity Council convenes to determine the case’s severity and to dole out an appropriate punishment. “The role of JIB is to investigate alleged violations to policy and sanction accordingly,” wrote Eddie BanksCrosson, director of the Office of Fraternity and Sorority Life, in an email. For the past two months, many students have expressed frustration over the surge in social event closures and the overall higher level of security enforced upon all social events as a result of the recommendations of a task force convened in the wake of of-

fensive emails distributed by the offcampus organization OZ. One of the recently implemented recommendations was the introduction of event observers who are tasked with patrolling the Penn area three nights a week to shut down parties violating the University’s latest guidelines concerning event registration. According to JIB’s constitution, “The goals of the IFC Judicial Inquiry Board process are to compel adherence to both University and IFC policies, to resolve conflicts within the Fraternity community, and to promote high standards of conduct.” Former JIB Manager, Psi Upsilon member and College senior Toby Milligan said that while JIB conducts the process to determine punishment for different violations, Banks-Crosson has the ability to overturn their decision. The issue is then returned to the students who reconvene and restart their discussion on potential sanctions until it is approved. “JIB is comprised entirely of students. However, that being said, the whole group holds each other accountable, as opposed to the University saying, ‘This is your punishment,’” Milligan said. Decisions are based on a predeter-

OPINION | Progressive Stacking

NEWS TA’s tweets cause outrage

NEWS Henry Rogers memorial

SPORTS | Upset of the Decade

Stephanie McKellop said she calls on black women students first PAGE 2

Hundreds of students gather at Koo Plaza at Huntsman Hall PAGE 3

“…the notion that race and gender are appropriate criteria to decide who gets a voice is at best a misguided one.” - James Lee PAGE 4

Penn field hockey capped off an historic weekend sweep with its first top 10 win in 10 years BACKPAGE

mined rubric created by JIB, approved by OFSL and voted on by IFC-affiliated chapters. “The rubric states that if you do ‘X,’ the punishment will be ‘Y.’ We introduced it to formalize the potential punishments and provide transparency to chapter presidents so they can make better decisions,” Milligan said. Alleged violations are ranked on the basis of severity from a Level 0 case — meaning that the fraternity is “not likely guilty” according to JIB’s constitution — to a Level 3 case — which can include cases involving accusations of hazing or “the use of alcohol during rush.” If a fraternity were to host an unregistered party, it could either get a warning or a strike based on the size of the event, Milligan said. According to JIB’s constitution, unregistered parties are considered a Level 1 case, which is presided over by only the JIB manager and JIB members. But if the fraternity has already received “two sanctions regarding an unregistered party that are greater than a warning,” the violation is considered a Level 2 case which is decided by the JIB manager, SEE FRATERNITY PAGE 7

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