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| Volume 4, Number 3 |
March 2010 |
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Dear Friends and Colleagues:
There has been no shortage of activity during the past month, as you will see in this month's edition of LeaderNotes. First, let me congratulate the University of Baltimore (UB) for their outstanding fundraising efforts this year resulting in two significant gifts toward the Angelos Law Center Challenge (more below). UB has experienced significant change and growth in recent years. In 2007, UB began accepting freshmen for the first time in 32 years to help meet statewide demand. It is truly an exciting time at this dynamic urban campus under the leadership of President Bob Bogomolny.
Speaking of education in an urban setting, on April 30, Coppin State University will be hosting the USM Langenberg Lecture at their new Health and Human Services Building at 10:00 a.m. This year's speaker is Pedro Noguera, Ph.D., Professor of Teaching and Learning at The Steinhardt School of Culture, Education, and Human Development at New York University. Dr. Noguera is a national expert in urban education and a dynamic speaker. If you would like to attend, please contact Jenna Buttler at events@usmd.edu.
Last, but certainly not least, I have a couple of personnel announcements to share - one a welcome, and one a farewell:
I am proud to welcome our new senior executive accountant, Roy Hossler, to the Foundation staff (see bio below). Roy comes to us from the Washington Redskins, after working there as assistant controller for 10 years. He will be responsible for helping Joyce Marx with the general ledger and audit preparation. Please feel free to drop Roy a welcome note at rhossler@usmd.edu.
Investment Operations Analyst Kaylon McInelly has accepted a new position in Washington, D.C. at ICMA-RC where he will serve as Fund Manager - Fixed Income. Kaylon has been a tremendous asset to our investment team and has a strong record of accomplishment. We are sorry to see him leave, but we are happy for his success as well. Fixed income is Kaylon's specialty and interest, so his new position seems like a perfect fit.
As always, please contact me at raley@usmd.edu with any questions or comments.
Sincerely,
Leonard R. Raley |
| USM Chancellor William E. Kirwan Honored with TIAA-CREF Theodore M. Hesburgh Award |
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The TIAA-CREF Institute announced this month its selection of USM Chancellor William E. "Brit" Kirwan as winner of the 2010 TIAA-CREF Theodore M. Hesburgh Award for Leadership Excellence. This award recognizes leadership and commitment to higher education and contributions to the greater good. He was presented with the award on March 8, 2010 at the American Council on Education's Annual Meeting in Phoenix, Arizona, by TIAA-CREF Institute Vice President Madeleine d'Ambrosio.
"Chancellor Kirwan brings a collaborative and cooperative leadership style to higher education welcoming all viewpoints," said Stephanie Bell-Rose, managing drector and head of the TIAA-CREF Institute. "This, coupled with his forward thinking, makes him one of the nation's most dynamic and effective higher education leaders and we are so pleased to honor him today."
Established in 1993, the TIAA-CREF Hesburgh Award is named in honor of Reverend Theodore M. Hesburgh, C.S.C., President Emeritus of the University of Notre Dame, nationally-renowned educator and world humanitarian. Father Hesburgh also served on the TIAA and CREF Boards of Overseers for twenty-eight years.
"Father Hesburgh stands as the symbol of leadership of what a university president can and should do," said Kirwan. "To have my name in any way associated with him is the greatest professional honor in my life."
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Investment Performance through 2/28/2010 |
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*Estimated; Private Investments marked as of 9/30/09 |
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Endowment |
S&P 500 |
80/20 |
60/40 |
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Latest Mo |
1.1% |
3.1% |
2.5% |
2.0% |
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CYTD |
0.5% |
-0.6% |
-0.1% |
0.4% |
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Fiscal YTD |
9.8% |
21.8% |
18.6% |
15.4% |
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3 Yr AACR |
-2.9% |
-5.7% |
-3.0% |
-0.5% |
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5 Yr AACR |
3.4% |
0.4% |
1.6% |
2.8% | |
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Campaign Progress |
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Publicly Announced Campaigns |
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Institution |
Announced |
Goal |
2/28/10 |
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Bowie |
11/08 |
$15M |
$8.5M |
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Coppin |
10/07 |
$15M |
$4.8M |
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Frostburg |
10/08 |
$15M |
$11.9M |
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Salisbury |
6/06 |
$35M |
$33.7M |
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Towson |
11/06 |
$50M |
$42.7M |
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UB |
3/09 |
$40M |
$30.3M |
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UMB |
10/07 |
$650M |
$383.7M |
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UMBC |
9/06 |
$100M |
$106.2M |
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UMCES |
11/07 |
$8M |
$4.4M |
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UMCP |
10/06 |
$1B |
$694.5M |
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UMES |
9/06 |
$14M |
$10.3M |
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UMUC |
2/08 |
$26M |
$21.2M |
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USM Federated |
- |
$1.7B |
$1.4B | |
| Spotlight on the Board |
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 Bonnie B. Stein
Executive Vice President and Managing Director
PNC Wealth Managment
Bonnie Stein is executive vice president and managing director for PNC Wealth Managment in the Greater Maryland region. In this position, she is responsible for the distribution of wealth management products and services, which includes wealth and estate planning, investment, and fiduciary services, as well as private banking.
Ms. Stein has more than 25 years of financial services experience. She joined PNC in 2001 as the head of wealth management for the Greater Maryland Region. Prior to joining PNC, Ms. Stein served with Allfirst Financial where she was the president of the brokerage and insurance subsidiaries and senior vice president for branch administration and sales support. In addition, she was a member of the strategic planning/merger and acquisition team.
Ms. Stein was selected for the USM Foundation board in 2009. She received a bachelor's degree in behavioral science from the University of Maryland University College. In May 2009, she was honored by the YWCA for her leadership, commitment, and contributions to empowering women and eliminating racism.
 William T. Wood
Wood Law Offices, LLC
William T. "Bill" Wood, founder of Wood Law Offices, LLC, Rockville, Maryland, has been a practicing lawyer for more than 35 years. He is past president of the Maryland Trial Lawyers Association, is listed in The Best Lawyers in America, The Bar Register of Preeminent Lawyers, Super Lawyers magazine, and is AV-rated by Martindale-Hubbell®. He has been a criminal prosecutor, treasurer of the President's Council of the American Trial Lawyers Association, and state delegate to ATLA.
Mr. Wood has lectured extensively on litigation-related matters. He has appeared periodically on Channel 5 Fox Television News in the Washington-Metropolitan area and MSNBC nationally pertaining to legal issues of local and national interest. In 1999, he was appointed by Maryland's Governor to the USM Board of Regents. In addition to his service on the USM Foundation Board of Directors, which he joined in 2009, he currently serves on the Board of Visitors of the University of Maryland University College and the Board of Trustees of the University of Maryland, Baltimore Foundation.
Mr. Wood has served sitting judges as treasurer and courthouse candidates as campaign manager for many elections. He earned a bachelor of science degree in economics from the University of Maryland in 1963 and a J.D. from the University of Maryland School of Law, Class of '66. |
| Whiting-Turner Contracting Donates $1 Million Toward Law School Challenge Grant |
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Gift is Among Largest Private Donations to Angelos Challenge
The Whiting-Turner Contracting Company has made a $1 million contribution to help match the challenge grant initiated by UB School of Law alumnus Peter Angelos, LL.B. '61, for the construction of a new home for the University of Baltimore School of Law. The firm's president, Willard Hackerman, has been a consistent supporter of University initiatives.
"Under President Robert L. Bogomolny's tenure, the University of Baltimore is growing and becoming an increasingly important part of the city community," Hackerman, a native of Baltimore, said. "I am proud to be a part of this growth and to show my support for a high-quality, Baltimore-based institution of higher learning."
The Whiting-Turner gift is one of the largest private matching gifts made to date toward the Angelos challenge. The $5 million, dollar-for-dollar matching pledge was made by Angelos to support construction of a new, 190,000-square-foot law school building, which will be located on a UB-owned parcel on the northwest side of the intersection of Charles Street and Mt. Royal Avenue.
The new John and Frances Angelos Law Center, named after Peter Angelos's parents, will be a signature building, not only for UB but for the city of Baltimore as well. The internationally acclaimed architectural firm of Behnisch Architekten of Stuttgart, Germany, in partnership with Baltimore's Ayers/Saint/Gross, Inc., will strive to achieve LEED Gold certification by the U.S. Green Building Council for the new building by implementing an array of green technologies. The new building is slated to open in 2013, and the current John and Frances Angelos Law Center, named as part of an earlier gift in 1991 and located at Maryland and Mt. Royal avenues, will be renovated to accommodate UB's growing academic programs.
Hackerman believes that the new building will be only one part of the University's new stature in the community.
"UB is one of Baltimore's best kept secrets. This campaign will help give the institution the recognition it deserves," he said. |
| UB Law Receives $1 Million Meyerhoff Gift |
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Gift from Alumna Brings UB Significantly Closer to Meeting Angelos Challenge
 "My vision for UB's School of Law is that it will continue to see change as opportunity and to make the most of these opportunities," says Sayra Meyerhoff, J.D. '78, M.S. '04 "I would like UB to continue to encourage its graduates to strive to reach their highest potential as professionals in the legal fields."
Through their recent gift of $1 million to Uniquely UB, Sayra Meyerhoff and her husband, Neil, are helping make this vision a reality. The Meyerhoffs' gift, which is one of the largest gifts received for UB's capital campaign to date, is essential to the construction of the new School of Law building. It helps UB meet the matching requirements of the challenge grant issued by alumnus, Peter Angelos, LL.B. '61, and moves the university one step closer to the projected opening of the new building, set for fall 2012.
Meyerhoff enrolled in the School of Law after finishing her M.A. at George Washington University. What she found there helped shape the rest of her life. "UB wasn't just classroom studies - it was a wonderful experience. I found committed, interesting and challenging professors. I loved interacting with the other students, and I came away with friendships I treasure to this day."
Over the years, Meyerhoff has stayed connected to UB. She serves on the University of Baltimore Foundation Board of Directors (she was chair for a two-year term) and the Law Advisory Council. She is also a member of the Uniquely UB Capital Campaign Committee. As someone who has been involved with UB for more than 20 years, she is pleased to have seen the School of Law mature while retaining the quality of its educational offerings. Best of all, she says, "UB has never lost sight of the role it plays in the community."
The new School of Law building will, Meyerhoff believes, help UB attract students by offering them a state-of-the-art learning environment. "It will give our students every educational advantage to become successful attorneys. It will help UB be the best law school it can be."
And it also will give UB wider recognition in the region and beyond. Not that the school needs it in Meyerhoff's eyes. "I have always been proud of UB's law school graduates," she says. "They are positively impacting the practice of law in such a meaningful way, and shaping the society we live in. I am pleased to be able to give back to UB."
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| Council for Advancement and Support of Education (CASE) Update for Institutionally Related Foundations |
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Senate Passes Retroactive Extension of IRA Charitable Rollover
On March 10, the U.S. Senate amended and passed the Tax Extenders Act (H.R. 4213), legislation that would retroactively extend the IRA charitable rollover through December 31, 2010.
Since the Senate amended H.R. 4213, the bill must once again be passed by the U.S. House and ultimately signed by President Barack Obama before the IRA charitable rollover is officially reinstated.
Prior to its expiration on December 31, 2009, the IRA charitable rollover allowed taxpayers age 70 ˝ or older to direct up to $100,000 annually from their individual retirement accounts to eligible charities, including colleges, universities and independent schools, without having to count the distribution as income for tax purposes. Since 2006, the IRA charitable rollover has led to millions of dollars in new gifts to educational institutions - many from individuals and alumni who had never previously given to their institutions.
If enacted, H.R. 4213 would retroactively extend the IRA charitable rollover for one year-from January 1 to December 31, 2010. The House is expected to take up H.R. 4213 after the spring recess period (March 27 - April 11).
CASE strongly supports the IRA charitable rollover and will continue to urge lawmakers to pass a retroactive extension of the incentive as soon as possible
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| USM News Briefs |
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USM Board member Bonnie Stein, managing director and executive vice president of PNC Financial Services, and Marie Wood, executive director of the Yellow Ribbon Funds, Inc., and wife of Board member Bill Wood, have been named to the "Top 100 Women" list by The Maryland Daily Record. Other USM recipients of the award include Salisbury University President Janet Dudley-Eshbach, Salisbury Vice President of Student Affairs Ellen Neufeldt, and University of Maryland School of Pharmacy Dean Natalie Eddington. The awards will be presented at a dinner on May 3 at the Meyerhoff Symphony Hall in Baltimore.
The Gaudreau Law Firm, based in Salisbury, Maryland, made a $15,000 gift to begin a political internship program in Annapolis for University of Maryland Eastern Shore students. The gift provides $5,000 stipends for UMES students, providing them with living expenses while residing in the Annapolis area throughout the legislative term. An additional federal political internship is being considered for the summer.
Coppin State University has received a $932,116 grant from the U.S. Department of Commerce under its Broadband Technology Opportunities Program. It is the only institution in Maryland to receive a BTOP award. The grant will support Coppin Heights-Rosemont Family Computer Center, which was established with federal stimulus funds. The Center will create jobs and improve education and health by offering 15 continuous training and educational courses led by Coppin State faculty, students, and partners. The Center will house 60 new computer workstations.
Physics Nobel laureate John Mather will deliver the inaugural lecture for Towson University's digital planetarium and telescope facility on Saturday, March 27 at 8:00 p.m. Mather was awarded the Nobel Prize for his critical role in confirming the Big Bang theory. Mather was co-recipient of the Nobel Prize in 2006, and in 2007 was named one of Time magazine's 100 most influential people in the world. The event is free and open to the public. RSVP to pags@towson.edu.
The University of Maryland's Distinguished University Professor Rita R. Colwell, has been awarded the 2010 Stockholm Water Prize, widely recognized as the world's premier award for water related research or policy work. The prize, which includes a $150,000 award and a crystal sculpture, honors "individuals, institutions or organizations whose work contributes broadly to the conservation and protection of water resources and to improved health of the planet's inhabitants and ecosystems."
In memory of the life and achievements of Martin Luther King Jr., Frostburg State University will hold its annual MLK Celebration, featuring keynote speaker Anthony G. Brown, lieutenant governor of Maryland, along with musical performances and student speakers offering inspirational stories. The event will be held at 7:30 p.m. on Thursday, April 15, in the Pealer Recital Hall of the Performing Arts Center on the Frostburg campus. For more information, contact the Office of Provost at 301-687-4211.
This summer, UMBC Meyerhoff Scholar Benyam Kinde, '10, will attend the 60th Interdisciplinary Meeting of Nobel Laureates. Selected from a pool of more than 20,000, he'll join 500 young researchers and network with leading scientists in the fields of medicine or physiology, physics and chemistry. Kinde was nominated to attend by Peter Agre, a medical doctor, professor and molecular biologist at The Johns Hopkins University who was awarded the 2003 Nobel Prize in Chemistry and received an honorary degree from UMBC in 2009. |
| Staff News |
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Roy A. Hossler, CPA, has joined the USM Foundation as its new senior executive accountant beginning this month. Mr. Hossler comes to the USM Foundation from the Washington Redskins organization, where he was the assistant controller. In that role, he managed key financial tasks of that $300 million, 200-person professional sports organization, including NFL players, FedEx Field, and supporting personnel. Mr. Hossler was with the Redskins since 2001. Prior to that, he was with Bankers Independent Insurance Company from 1990 until 2001, where he served as staff accountant, assistant treasurer, and from 1998-2001, as chief financial officer. Roy Hossler is married to Jill, and has two children (Carly and Zach). He resides in Jefferson, Md., in Frederick County, and coaches youth basketball and baseball in his free time.
Investment Operations Analyst Kaylon McInelly has left the USM Foundation to join ICMA-RC, where he has been hired as Fund Manager - Fixed Income. Mr. McInelly has been with the USM Foundation since 2006. | |
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Diana White
Editor
301-445-1999
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