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LeaderNotes

A newsletter for Foundation Directors and friends of higher education in Maryland
In This Issue
University of Maryland President Mote to Retire
Jay A. Perman, M.D., Appointed President of UMB
Judaica Bequeathed to Towson
Spotlight on the Board
CASE - IRF Update
USM News Briefs
Quick Links
Volume 4, Number 2 February 2010
Dear Friends and Colleagues:
 
This February has certainly been a memorable one, with weather events and leadership transitions altering the landscape across the USM.  Despite piles of snow and still-challenging road conditions, our February 17th Board meeting at Bowie State University was very well attended.  Bowie President Dr. Mickey Burnim, Vice President for Advancement Richard Lucas, and their staff were wonderful hosts, and the Foundation staff went above and beyond, braving the snow to ensure that materials were ready in time for the meeting.  I also would like to express my appreciation to Dr. George Acquaah, dean of the College of Arts and Sciences, for his captivating presentation about Bowie State University's efforts to promote and increase the participation of faculty and students (especially minorities), in science, technology, engineering and mathematics (STEM) disciplines and professions. 

February also brought two major announcements.  Dan Mote, president of the University of Maryland, College Park, for the last 12 years, announced that he will be stepping down on August 31.  Under his leadership, the university has accelerated on its path to national prominence and is now widely renowned as a powerhouse in public higher education.  We thank Dan for his service and leadership.  We also learned of the appointment of Jay Perlman, dean of the School of Medicine at the University of Kentucky, to the presidency of the University of Maryland, Baltimore.  Please read further to learn more about both these transitions.

I am happy to report that the USM has reached 80% of the aggregate campaign target - a total of $1.4 billion.  Two of USM institutions surpassed their stated goals and seven others are have attained 70% or better.  This is very encouraging given the recession.  See the chart below for more detail.

As you are aware, the January 30 snow storm compelled us to cancel the Kirwan-Carnegie Dinner.  There has been a great outpouring of sentiment that the event be rescheduled, and it will now be held on Thursday, May 13.   Despite our disappointment that the event could not take place as planned,  I can proudly report that more than $1.8 million was raised in support of the dinner and the A Matter of Degrees initiative, the Chancellor's college access and completion effort.
 
As always, please contact me at raley@usmd.edu with any questions or comments.
 
Sincerely,
 
Leonard R. Raley

Investment Performance through 1/31/10

*Estimated; Private Investments marked as of 9/30/09

 

Endowment

S&P 500

80/20

60/40

Latest Mo

-0.6%

-3.6%

-2.6%

-1.6%

Fiscal YTD

8.7%

18.2%

15.7%

13.1%

3 Yr AACR

-3.3%

-7.2%

-4.2%

-1.3%

5 Yr AACR

3.2%

0.2%

1.4%

2.6%

Campaign Progress

Publicly Announced Campaigns

Institution

Announced

Goal

1/31/10

Bowie

11/08

$15M

$8.5M

Coppin

10/07

$15M

$4.7M

Frostburg

10/08

$15M

$11.7M

Salisbury

6/06

$35M

$33.6M

Towson

11/06

$50M

$42.1M

UB

3/09

$40M

$30.0M

UMB

10/07

$650M

$375.3M

UMBC

9/06

$100M

$104.1M

UMCES

11/07

$8M

$4.4M

UMCP

10/06

$1B

$688.4M

UMES

9/06

$14M

$10.3M

UMUC

2/08

$26M

$21.1M

USM Federated

 

-

 

$1.7B

 
 $1.35B
Mote to Retire Aug. 31 as University of Maryland President
Dan Mote
University of Maryland President C.D. (Dan) Mote, Jr., has announced that he will retire as president on August 31, 2010.  At that time, he will have led the university for 12 years, the fourth longest serving president in the 156-year history of the state's flagship university.  
 
After a leave of absence, Mote will continue at Maryland in his academic appointment as Glenn L. Martin Institute Professor of Engineering in the university's A. James Clark School of Engineering.

Since his arrival in September 1998 from the University of California, Berkeley, President Mote has overseen a continuous rise in the performance of nearly every facet of the university.  Mote's leadership beyond the campus includes helping to drive economic competitiveness discussions about the critical importance of science and technology education and research to economic well-being.

Prior to assuming the presidency at Maryland, Mote served on the University of California, Berkeley faculty for 31 years.  From 1991 to 1998, he was profesor and vice chancellor of university relations at Berkeley, where held an endowed chair in mechanical systems and was president of the UC Berkeley Foundation.  

Mote's research field lies in dynamic systems and biomechanics.  Internationally recognized for his work on the dynamics of gyroscopic systems and the biomechanics of snow skiing, he has authored and co-authored more than 300 publications, and holds patents in the United States, Norway, Finland and Sweden. He received the B.S., M.S. and Ph.D. in mechanical engineering from UC Berkeley.

He and his wife of over 45 years, Patricia Mote, have two married children, Melissa and Adam, and four grandchildren.  
Jay A. Perman, M.D., Appointed President of UMB
Jay A. Perman, M.D.
Clifford J. Kendall, chair of the USM Board of Regents, has announced the appointment of Jay Perman, M.D., as president of the University of Maryland, Baltimore (UMB). Perman is currently dean and vice president for clinical affairs at the University of Kentucky College of Medicine. He will join UMB as president on July 1, 2010.  
 
Since becoming dean at the University of Kentucky College of Medicine in May 2004, Perman, 63, has overseen the recruitment of nearly 200 faculty members, a 40 percent increase in the number of science faculty and a 30 percent increase in clinical department faculty. Total all-source revenues have grown by $150 million to $500 million and the College of Medicine rose from 35th to 28th among public medical schools in total funding from the National Institutes of Health.

Perman's appointment reflects a return to the UMB campus. In 1999, he was recruited to the University of Maryland School of Medicine and served as chair of pediatrics and as chief of pediatrics for the University of Maryland Medical System.

From 1996 to 1999, Perman was the Jessie Ball duPont Professor and Chairman in the Department of Pediatrics at Virginia Commonwealth University (VCU) Medical College of Virginia in Richmond. Before his appointment at VCU, Perman was at The Johns Hopkins University School of Medicine for 12 years, serving as professor of pediatrics and a leader of several important divisions. From 1977 to 1984, he was an assistant professor and associate professor of pediatrics at the University of California, San Francisco.

Perman received a Doctor of Medicine with Distinction in 1972 from Northwestern University in Chicago, Ill. Following his residency in pediatrics at Northwestern University Children's Memorial Hospital in Chicago in 1975, he completed a fellowship in pediatric gastroenterology at Harvard Medical School and at the Children's Hospital Medical Center in Boston, Mass., in 1977.

In 2008, he received the University of Kentucky President's Award for Diversity. He is a member of numerous medical societies and an elected member of the Administrative Board of the Council of Deans, Association of American Medical Colleges. He was named a Baltimore magazine Top 25 Pediatrician in 2003.

Perman succeeds UMB President David J. Ramsay, who has served in the position since 1994.
Judaica Bequeathed to Towson University 
With the express intent to educate and inspire faculty, students, renowned scholars and the community, Mrs. Elaine S. Mintzes of Baltimore has planned a charitable bequest to Towson University Foundation, a collection of nearly 100 items of Judaica.  Mrs. Mintzes has also bequeathed a fund for the display and maintenance of the collection. 
 
Mrs. Mintzes and her late husband, Alvin S. Mintzes, are recognized for their service and philanthrophy in the Jewish community and beyond, including many interfaith activities.   Many of the items in the varied collection were given to the couple to honor their generosity. 
 
Once received by the Towson University Foundation, these bequests will be known as the "Alvin S. and Elaine S. Mintzes Judaica Collection." The collection includes several mezuzot, Torah crowns and sculpture, rare books and artwork.
Spotlight on the Board
Cole, CharlesCharles W. Cole, Jr.
Retired Chairman and CEO
Legg Mason Trust Company

Charles W. Cole is the retired chairman and CEO of Legg Mason Trust Company. Prior to joining Legg Mason, he had been vice chairman of Brown Investment Advisory & Trust Company. Mr. Cole joined Brown in 1994 after a 34-year career in the financial services industry, including ten years as president, CEO and chief administrative officer of First Maryland Bancorp and its principal subsidiary, First National Bank of Maryland. During his ten years as CEO of First Maryland, the company compiled a compounded annual earnings growth rate greater than 20% - a record unmatched by the largest 100 bank holding companies in the country.

Mr. Cole is a member of the Board of Directors of the University System of Maryland Foundation, Inc., where he serves on the executive committee and the investment committee. He is also a member of the University of Maryland, Baltimore Foundation Board of Trustees and serves as chairman of the investment committee for the France Merrick Foundation.  Mr. Cole is a member of the Medstar Health Investment Committee, and he is on the board of directors of Provident Bancshares Corporation and Provident Bank of Maryland. He has served as a member of the USM Board of Regents, as well as on the board of directors of the University of Maryland, College Park Foundation.

Mr. Cole received his bachelor of arts in economics from Washington & Lee University.  He received his LLB from the University of Maryland School of Law.
CASE - IRF Update
Survey: U.S. Education Fundraisers Predict Growth in Giving for 2010
 
Fundraisers for U.S. schools, colleges, and universities predict that giving will increase 3.7 percent during 2010, according to survey results released on January 19 by the Council for Advancement and Support of Education (CASE). For 2009, the CASE Fundraising Index estimates that giving declined less than 1 percent from the previous year.

CASE President John Lippincott said the optimism for 2010 follows a challenging and unpredictable year for donors and fundraisers alike. "Although the estimated decline for 2009 is less than 1 percent overall, we found wide variations in the individual responses," Lippincott said. "Some institutions reported double digit increases and others double digit declines. A number of factors, including the maturity of an institution's fundraising operation and the profile of its donor population, contributed to these disparate results."

He noted that on the whole, the decline is quite modest given the severity of the economic downturn. "And while the rate of growth is below the average for the last two decades, it nonetheless offers reason for optimism and reassurance that fundraising programs remain one of the best investments an institution can make," he said.

Lippincott added that the CFI results suggest that fundraising professionals at private schools and colleges are generally more optimistic about the year ahead than their counterparts at public institutions.

CASE conducts the CFI twice each year-once at the end of the academic year (July 1-June 30) and once at the end of the calendar year (January 1-December 31).

Estate Tax Temporarily Repealed, IRA Charitable Rollover Expired

Congress did not act to extend the estate tax and the IRA charitable rollover before the end of 2009.  The estate tax is now temporarily repealed and, without congressional action, will reappear at its pre-2001 levels ($1 million exemption, 55 percent tax rate) in 2011. A last-minute effort in December to extend the current estate tax levels ($3.5 million exemption, 45 percent tax rate) for two months was blocked in the Senate.
Senate leaders plan to bring up an estate tax bill in early 2010 that will be retroactive to Jan. 1. While the House has passed H.R. 4154, a bill that would permanently extend the estate tax at its 2009 levels, it is unclear if the House bill can get the necessary 60 votes in the Senate.

The IRA charitable rollover, which allowed individuals starting at age 70 to make tax-free charitable gifts totaling up to $100,000 per year from their IRAs directly to eligible charities, expired on December 31, 2009. House and Senate leaders hope to act early in 2010 to retroactively extend the IRA charitable rollover.

CASE continues to urge lawmakers to quickly extend the estate tax and IRA charitable rollover.
 
USM News Briefs
Thanks to a total in 2009 of $383,898 in contributions from AstraZeneca Pharmaceuticals LPFrostburg State University will be able to continue developing CHILL ("Creating Healthy, Informed, Lasting Lifestyles"), a university and community health initiative. To learn more about FSU's CHILL, visit www.frostburg.edu/chill.
 
Three USM institutions were cited by The Education
Trust
as among the "Top Gainers in Under-represented Minority Graduation Rates": Among public research universities, the University of Maryland, College Park is ranked 14th and UMBC 22nd. The University of Maryland, College Park also has the 4th highest graduation rate for under-represented minorities and UMBC is one of the few non-historically-black institutions at which the minority graduation rate exceeds the non-minority rate. Among public master's institutions, Towson University ranked 8th in minority graduation rate gains and is another traditionally white institution where minorities graduate at a higher rate than non-minorities.
 
Bowie State University is moving into phase II of its innovative "Verizon Thinkfinity Scholars Program." Eight Bowie State University students will continue a yearlong internship during the spring semester in Prince George's County public schools, incorporating Verizon's online education resource into their teaching plans.
 
Arts patrons Peter and Judy Jackson have created a charitable remainder unitrust that will leave at least $500,000 to the Salisbury Symphony Orchestra at Salisbury University.
 
Jody Olsen, Ph.D., M.S.W., who most recently served as acting director of the Peace Corps, has joined the University of Maryland School of Social Work as a visiting professor. Her responsibilities are to assist in the development of international programs and public service initiatives and to contribute to the teaching of management, international social work, and community practice.  A 1972 graduate of the SSW, Olsen earned a Ph.D. from the University of Maryland College of Education and has served as president of the University of Maryland Alumni Association.
 
The University of Baltimore Hoffberger Center for Professional Ethics will host its annual Ethics Week March 1-6, with a series of discussions focusing on both foundational positions and modern approaches to resolving ethical dilemmas. A highlight of this year's program will be the March 3 appearance by Trisha Meili, the "Central Park Jogger." For more information, see the event website.
 
Coppin State University will hold a ribbon cutting for its new 246,000 square-foot sports complex on February 27, 2010. The $136 million project includes a satellite central utility plant, a facilities management/public safety building, parking lots, sports arena, a multi-purpose field (softball, tennis), and a 400-meter outdoor track. Among the amenities offered by the new PEC are a 4,100-seat basketball arena, an indoor NCAA regulation pool, a fitness center, an auxiliary gymnasium, dance studio, multi-purpose space, racquetball courts and smart classrooms.
 
University of Maryland University College has launched its newly redesigned website effective January 2010.  Potential students can access information about academics, admissions and applying online, online study, tuition and financial aid, and UMUC's accreditation and structure.  Over the coming year, UMUC will roll out the full redesign of the entire UMUC Web site and implement its first-ever content management system, CommonSpot.
Diana White
Editor
301-445-1999