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A newsletter for Foundation Directors and friends of higher education in Maryland
In This Issue
Investment Performance
Campaign Progress
UM Law School Receives $30M Gift
Board Member Profile
Freeman Hrawbowski, III Receives Hesburgh Award
UMES President Thelma B. Thompson Retiring
Trends in Philanthropy
Graduate School Rankings
USM News Briefs
In Memoriam
Quick Links
Volume 5, Number 2Spring 2011
Dear Friends and Colleagues,

We associate spring with new beginnings, and here at the Foundation, we are moving forward updating the Foundation's strategic plan.  It is hard to believe that it has been five years since the strategic plan was completed.  That plan provided us with measurable goals that we have used to benchmark our success and improve our performance.
I am happy to say that we have made significant progress toward the goals that we have set out to achieve.  We have increased board and committee involvement, added Foundation clients, increased advocacy, made adjustments to the Foundation's governance, instituted more frequent communications with Board members, increased campus fundraising support activities, set up an improved website that provides information to our Board, clients and our university administrative partners, and achieved solid investment returns, despite a economic challenging environment. 
As we move forward with the plan's update, your voice will be vital.  We will be in touch as we move forward.
I would like to take a moment to congratulate the University of Maryland, Baltimore's law school on the magnificent $30 million gift it received this month from the W. P. Carey Foundation.  The newly-christened University of Maryland Francis King Carey School of Law, named for the founder of DLA Piper (and who was a member of the Law School's Class of 1880), has educated some of the most influential leaders on the state, national and international level.  See the article below for more details about the gift.
In addition, you will see below that Thelma Thompson, president of UMES, has announced her retirement.  Thelma has done much to elevate the profile of that institution.  We all wish her well and hope she enjoys a long and happy retirement.
Finally, please join me in congratulating UMBC President Freeman Hrabowski (see article) upon his selection for the 2011 TIAA-CREF Theodore M. Hesburgh Award.  As you recall, Chancellor Kirwan received this prestigious award last year.  It says a lot about our System that two of our leaders have been recognized like this in as many years.
As always, please contact me at with any questions or comments.
Leonard R. Raley

Investment Performance through 3/31/2011




S&P 500

Composite Benchmark





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Note:  The Composite Benchmark uses the Endowment's actual asset class weights and the benchmark index performance for each asset class.

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USM Federated




W.P. Carey Foundation Announces $30 Million Gift to University of Maryland School of Law
School Will Be Named the University of Maryland Francis King Carey School of Law

Carey UMB LawThe gift will enable the School of Law to strengthen its programs, with a special emphasis on faculty support, and increase the School's endowment. In addition to the gift, the University of Maryland has committed to raise $15 million to support the School of Law.

W. P. Carey Foundation founder William Polk Carey said, "This gift represents the Carey family's educational and philanthropic legacy in the great state of Maryland and helps us honor family members who dedicated their lives and careers to education, to civic duty, and many to the legal profession itself. It is our hope that with this gift, the University of Maryland School of Law will continue its tradition of graduating students who make a special contribution to the business world - like my grandfather and his brother did."

The School of Law will be named the University of Maryland Francis King Carey School of Law after W. P. Carey's grandfather who was a graduate of the law school (Class of 1880) and co-founder of what is now the largest law firm in the world: DLA Piper (formerly Carey, Piper and Hall). The firm's current chairman is also an alumnus of the University of Maryland School of Law, Frank Burch (Class of 1974). Additionally, Francis King Carey's older brother James Carey was a graduate of the law school (Class of 1875), as was his son Francis J. Carey (Class of 1912). 
Board Member Profile
 Bill Couper
William "Bill" Couper
Bank of America, Mid-Atlantic Region



In his role as president for Bank of America in the Mid-Atlantic region, Bill Couper coordinates and integrates product and service delivery for all lines of business to bring the full resources of the company to clients and communities in Maryland, Virginia, and the District of Columbia. He is also the senior leader for the bank's management team for community and civic activities, and he is the CSR Regional Executive for Maryland, the District of Columbia, Virginia, North Carolina South Carolina, Kentucky, and West Virginia.


Bill Couper joined American Security Bank, a Bank of America predecessor in Washington, D.C., in 1972 as a management trainee. Over the course of his career, he has served in several capacities in retail banking and strategic planning, small business banking, and commercial banking, as well as risk management. In 1995, he was named president of the Greater Baltimore region.  He returned to Washington, D.C., to become president there in 2000, and assumed his current position in 2005.


Born in New York City, Couper grew up in northern New Jersey.  He graduated from the University of Virginia with a degree in finance. After college, he served in the United States Navy.


Active in civic affairs throughout his career, Couper joined the USM Foundation in 2010.  He also serves on the Federal City Council, the Virginia Business Council, the McIntire School of Commerce advisory board, and the boards of the Economic Club of Washington, Goucher College, the Economic Alliance of Greater Baltimore, the Greater Baltimore Committee, and the Virginia Bankers' Association. He chaired the Maryland Chamber of Commerce from 2001 to 2003, the United Way of the National Capital Area from 2003 to 2005, the Greater Washington Initiative from 2004 to 2006, and Greater Washington Board of Trade in 2008.

UMBC President Freeman A. Hrawbowski, III Receives Prestigious Hesburgh Award
Freeman HrawbowskiBuilding a Culture of Innovation
UMBC President Freeman A. Hrabowski, III, often says that part of his formula for the success of his campus is engaging his colleagues in questions about education and innovation. "We are constantly asking questions about important issues. How do we ensure that students from all backgrounds excel? How do we use technology to strengthen teaching and learning?" 
It's this practice that has helped UMBC create an institutional model of inclusive excellence and increase the representation of minority students in science and engineering. In March, Hrabowski was recognized for this work with the 2011 TIAA-CREF Theodore M. Hesburgh Award for Leadership Excellence. Developed to recognize leadership excellence that reflects both commitment to higher education and contributions to the greater good, the Hesburgh Award is one of the most prestigious and respected awards in the higher education community.

The 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.

"It's an honor to be in the company of Chancellor (William E.)Kirwan, who received last year's Hesburgh award," said Hrabowski, who became President of UMBC in 1992. "This recognition highlights the strong support that our Governor, legislators and other state officials give to higher education in Maryland."
See the full article here.


UMES President Thelma B. Thompson Retiring

Thelma ThompsonLeader Brought UMES to the National Academic Forefront


Thelma B. Thompson, President of the University of Maryland Eastern Shore (UMES), the state's only 1890 land-grant institution, has announced that she will retire effective August 15.  Thompson came to Princess Anne in the summer of 2002 from Norfolk State University in Virginia.

Under her leadership, UMES has added a number of degree programs that fit well with the university's role as a land grant institution on the Eastern Shore and meet the needs of the changing job market.  Programs added during Dr. Thompson's tenure include: a Pharm.D. in Pharmacy; Ed.D. in Educational Leadership; M.S. in Professional Science Master's in Quantitative Fisheries; M.Ed. in Counselor Education; B.A. in History; B.A. in Sociology (a new concentration in Social Studies Education in the existing Sociology program); B.S. in Urban Forestry; B.S. in Engineering; B.S. in Professional Golf Management; B.S. in Rehabilitation Psychology; B.S. in Social Studies Education; and an Upper Division Certificate Program in Family Financial Planning Studies.

Thompson's decision to step down this summer coincides with the successful conclusion of a seven-year campaign to raise a record $14 million, with endowed scholarships accounting for a large portion of that total.
Thelma B. Thompson, a naturalized American citizen from Jamaica, is a life-long educator who graduated with honors from Howard University in Washington, D.C., where she earned her bachelor's, master's and doctoral degrees. 
Please see the full press release here.
Trends in Philanthropy
SEC Proposed Rules Would Require Registration 
New proposed rules for municipal advisors, released by the Securities and Exchange Commission, could require trustees and employees of private institutions and institutionally related foundations to register with the agency as municipal advisors.

The proposed rules (PDF) implement new registration requirements for municipal advisors called for in the Dodd-Frank Wall Street Reform and Consumer Protection Act passed last year. In the proposed rules, a municipal advisor is defined as "a person [who is not a municipal entity or an employee of a municipal entity] (i) that provides advice to or on behalf of a municipal entity or obligated person with respect to municipal financial products or the issuance of municipal securities, including advice with respect to the structure, timing, terms and or other similar matters concerning such financial products or issues, or (ii) that undertakes a solicitation of a municipal entity."

Under the proposed rules, trustees and employees of private institutions and institutionally related foundations would be considered municipal advisors and would have to comply with new registration requirements.

In joint comments submitted to the SEC, CASE and other higher education association colleagues argue that Congress did not intend to apply the new registration requirements to financial advice given by higher education trustees and employees. The higher education community also voiced concern that requiring trustees and employees to register as municipal employees would discourage individuals from seeking these roles and positions.

CASE will notify members when the final SEC rules are released.
Graduate Schools at UMCP, UMB Recognized by U.S. News & World Report
Graduate schools at the University of Maryland, College Park and the University of Maryland, Baltimore are among the leaders in graduate school rankings just published by U.S. News & World Report in its "Best Graduate Schools 2012" report.

The School of Medicine ranked No. 38 among medical schools, an improvement of two spots from last year. The School of Nursing finished No. 11 overall. The School of Law moved to No. 42 overall. The magazine cited the school for its jump of six rankings spots from the previous year. Moreover, the School of Law now has four specialties ranked by the magazine, with trial advocacy joining the previously ranked specialties of clinical training, environmental law, and health law.

At the University of Maryland, College Park, several schools received prominent rankings. The A. James Clark School of Engineering ranked No. 22 nationally. The College of Education was ranked No. 23. Finally, the Robert H. Smith School of Business ranked No. 45 among MBA programs in the country.
USM News Briefs
USM Regent Orlan M. Johnson has been honored by the U.S. Securities and Exchange Commission (SEC) as a trailblazer by the SEC's African American Council. A resident of Prince George's County, Regent Johnson was appointed to the USM Board of Regents in July 2002.  A partner in the business department of Saul Ewing, in Washington, D.C., he was confirmed by the U.S. Senate to serve as chair of the board of directors of the Securities Investor Protection Corporation. He served as a branch chief for the SEC, serving nine years for the commission's Division of Investment Management.
Towson University President Robert Caret has received the 2011 Council of Fellows/Fidelity Investments Mentor Award during the 93rd Annual Meeting of the American Council on Education (ACE).  The award is presented annually to acknowledge the enormous role of mentors in the success of ACE Fellows Program participants. Established in 1965, the ACE Fellows Program is designed to strengthen institutions and leadership in American higher education by identifying and preparing faculty and staff members for senior positions in college and university administration.
Towson University Provost Marcia G. Welsh will serve as interim president starting April 20, when President Bob Caret departs to take his new position as the president of the University of Massachusetts System.
As of February 2011, the University of Maryland, College Park's $1 billion campaign, Great Expectations, reached the $800 million mark. 
The Frostburg State University Foundation, Inc., has honored Gladys Wensel Faherty, '55, with the Pinnacle Award, its highest honor, in recognition of the time, treasure and hard work she has given to the Foundation. Faherty served two terms as president of the Foundation and has been active in alumni affairs, including serving as past president of the Alumni Association. Grateful for the opportunities and assistance that she was given to attend college, she created the Wensel-Faherty Scholarship, providing financial support to FSU students from Allegany and Garrett counties in 1983, and has continued to build on that fund. To date, 62 Frostburg students have benefited from her generosity.
Annie Leslie, Ph.D., Associate Professor of Sociology in Bowie State University's Department of Behavioral Sciences and Human Services, has been appointed by the U.S. Secretary of Education Arne Duncan to serve a three-year term on the National Board of the Fund for the Improvement of Postsecondary Education (FIPSE). Housed within the Office of Postsecondary Education of the U.S. Department of Education, FIPSE aims to improve postsecondary educational opportunities by supporting the implementation of innovative educational reforms ideas.
Salisbury University President Janet Dudley-Eshbach was featured in an article in the March edition of The Hispanic Outlook in Higher Education.  Dudley-Eshbach, a Latin American and Spanish language scholar, earned her doctorate from El Colegio de Mexico.  The magazine article (here) highlights her efforts to promote international study, engage the community in Hispanic cuture and intellectual life, and promote diversity at SU.
In Memoriam

Chancellor Kirwan's Statement on the Passing of The Honorable William Donald Schaefer

On behalf of the University System of Maryland, I express our collective sadness over the passing of Baltimore mayor, Maryland governor, Maryland state comptroller, and my good friend William Donald Schaefer.

Governor Schaefer was a "public servant" in the truest sense of that phrase. He dedicated his life to others, with literally more than half-a-century of service. He served his country in the United States Army during World War II; he served his native Baltimore on the city council and as mayor; and he served the people of Maryland as governor and comptroller.

But greater still than his commitment to service was his impact. At a time when so many who serve in public office become diminished, Governor Schaefer was larger than life. From the Inner Harbor and Camden Yards, to his visionary efforts to protect the Chesapeake Bay, his influence-driven by his "Do It Now" approach-continues to reverberate throughout Maryland.

Of course, Governor Schaefer was also the architect of the University System of Maryland (USM) as we know it today. It was Governor Schaefer who called for the establishment of a single public higher education system, through the merger of the former University of Maryland and its five campuses with Maryland's system of six state comprehensive colleges and universities. And it was Governor Schaefer who gave the USM our mandate of achieving "National Eminence," which continues to guide our efforts today. Finally, it was Governor Schaefer who followed through on these efforts with significant support for the University System of Maryland.

Governor Schaefer's support for higher education and the USM will continue to shine brightly, thanks to the Schaefer Internship Program at the University of Maryland College Park's School of Public Policy, the Schaefer Center for Public Policy at the University of Baltimore, the Schaefer Engineering Building at Morgan State University, Schaefer Hall at St. Mary's College of Maryland, and the William Donald Schaefer Scholarship Program. We have lost a great friend, but we will never lose the impact of his commitment to public service and the advancement of the quality of life in Maryland. 

Diana White