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Volume 5, Number 5 | Holiday Edition 2011 | |
Dear Friends and Colleagues,
On December 5, Chancellor Brit Kirwan and UMBC President Freeman Hrabowski were invited as a part of a group of 12 university presidents to the White House to meet with President Barack Obama and US Education Secretary Arne Duncan to discuss college affordability. The USM has been at the forefront of this issue and while it is both an honor and a privilege that not just one, but two, of our USM leaders were invited to participate, it is also indicative of how much the USM has to contribute to this national discussion. Please see the Chronicle of Higher Education article for details on the group's recommendations.
Somewhat closer to home, after many months of studying a proposed merger, the USM Board of Regents has recommended a University of Maryland Strategic Alliance between the University of Maryland, Baltimore and University of Maryland, College Park. The exciting alliance will enable the two campuses to collaborate more closely in order to attract research funding, address workforce development needs, facilitate commercialization, allow for joint appointments, and compete for star faculty, while at the same time retaining their individual identities and administrative structures. The outcome of the study was very important to all activities at these campuses, as well as here at the Foundation. The Regents have charged the campuses with developing a plan to implement the alliance by March 1 (see press release).
With the holiday season and calendar year-end upon us, it is with great pleasure that we can announce that the USM federated campaign total now stands at $1.75 billion. That means that our institutions have exceeded our publicly-announced goal of $1.7 million, and they are on track to raise $2 billion by the end of 2012.
We are all aware that the fundraising environment has been extremely challenging over the past few years, and this accomplishment is a testament to the loyalty and commitment of our instititions' donors and the hard work of our staff. We have highlighted some recent gifts in this newsletter.
Now an update on some improvements that are being undertaken at the Foundation office: Business Operations Director Bill Wojcik has worked with staff over the past few months to implement a number of administrative changes that I think you will agree are both timely and helpful to our clients. These include:
- Fully automating the financial reporting process to our account holders;
- Streamlining and realigning job descriptions and staff responsibilities to improve the organization's overall efficiency and effectiveness;
- Conducting a thorough review of our financial database and systems;
- Greatly improving our responsiveness to clients by setting up dedicated mailboxes for inquiries; and
- Creating a monthly newsletter, The Monthly Ledger, to send to our account holders with important updates, schedules, deadlines and other useful information.
I want to thank both Pam Purcell and Bill Wojcik, as well as the staff in general, for their hard work to make these operational improvements.
I wish you and your families a warm and refreshing holiday. We look forward to seeing you at our next Board meeting on February 16 at UMCES' Institute for Marine and Environmental Technology. The IMET is located at the Columbus Center at Baltimore's Inner Harbor. UMCES will be giving the Board a tour of its aquaculture center after the meeting. More details will be forthcoming.
As always, please contact me at raley@usmd.edu with any questions or comments.
Sincerely,
Leonard R. Raley
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Investment Performance through 10/31/2011 | |
|
Endowment % |
S&P 500
% |
Composite Benchmark
% |
80/20
% |
60/40
% |
Latest Month |
2.3% |
10.9% |
5.5% |
8.8% |
6.6% |
FYTD 2012 |
-2.9% |
-4.5% |
-4.4% |
-2.5% |
-0.6% |
CYTD 2011 |
3.2% |
1.3% |
1.3% |
2.8% |
4.1% |
3 Yr AACR |
3.0% |
11.4% |
3.8% |
11.5% |
11.3% |
5 Yr AACR |
2.5% |
0.3% |
-0.8% |
1.9% |
3.3% |
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Campaign Progress | |
Institution |
Announced |
Goal |
10/31/2011 |
Bowie |
11/08 |
$15M |
$9.2M |
Coppin |
10/07 |
$15M |
$7.3M |
Frostburg |
10/08 |
$15M |
$17.2M |
Salisbury |
6/06 |
$35M |
$38.3M |
Towson |
11/06 |
$50M |
$51.9M |
UB |
3/09 |
$40M |
$39.3M |
UMB |
10/07 |
$650M |
$521.3M |
UMBC |
9/06 |
$100M |
$117.2M |
UMCES |
11/07 |
$8M |
$6.6M |
UMCP |
10/06 |
$1B |
$868.0M |
UMES |
9/06 |
$14M |
$15.0M |
UMUC |
2/08 |
$26M |
$27.4M |
USM Federated |
- |
$1.7B |
$1.74B |
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Trends in Philanthropy - CASE Update | |
Charitable Deduction Still in Discussion Despite Super Committee's Inability to Reach Agreement
On Nov. 21, the co-chairs of the Joint Select Committee on Deficit Reduction, also known as the "super committee," announced that the committee was unable to reach agreement on a plan to reduce the deficit by $1.2 trillion over the next decade. The committee's failure to reach an agreement means that automatic spending cuts allocated evenly between defense and nondefense spending will begin in January 2013. To avoid the cuts, lawmakers could look to limiting the value of itemized deductions, including the charitable deduction, as a way to raise revenue. More on CASE website.
According to an article in the Chronicle on Philanthropy, A poll conducted by the American Red Cross found that 7 in 10 Americans say it is important to give to charity during the holiday season, though only 57 percent plan to do so. The poll also found that charitable donations are the last thing that people plan to cut when having to cut back on holiday expenses. Full article (subscription required).
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UMB Receives Large Gifts in Support of Medical Research | |
The University of Maryland recently received two substantial gifts from private foundations to further its work in medicine.
This fall, UMB's Center for Integrative Medicine (CIM) received a $7.5 million pledge from an anonymous foundation. Founded in 1991 by Dr. Brian Berman, CIM is an inter-departmental center within the University of Maryland School of Medicine. A National Institutes of Health Center for Excellence for research in complementary medicine, CIM emphasizes an approach to healing that values mind, body, and spirit. See the website for more information on this innovative center.
In addition, The Bill and Melinda Gates Foundation recently made a $4.2 million grant to the Insititute for Human Virology (IHV) to support Dr. Robert Gallo's work to develop a vaccine to prevent the spread of HIV. The IHV serves approximately 5,000 patients through six Baltimore area clinics and more than 500,000 patients in seven African and two Caribbean nations. The IHV specializes in the treatment of HIV/AIDS and other chronic viral diseases, such as Hepatitis C, Hepatitis B, and the Human Papilloma Virus Infection. See the website for more details in IHV's research and outreach work. |
$1 Million Gift Announced for Richard A. Henson Medical Simulation Center | |
Salisbury University officially opened its new Richard A. Henson Medical Simulation Center during a festive ribbon-cutting on December 1. The ceremony was marked by the announcement of a $1 million gift for the center from the Richard A. Henson Foundation, Inc.
Known as the founder of the commuter aviation industry, Henson first made an indelible mark on the campus with a multi-million dollar endowment of the Richard A. Henson School of Science and Technology in 1988. This was followed by a $1 million gift for new science equipment in 1998.
The new center serves students across disciplines, including nursing and health sciences, as well as community health providers. The $1.15 million building project is part of SU's ongoing efforts to help reduce the national nursing shortage in the local area and beyond. The SU Nursing Department has the highest five-year average pass rate of all B.S.-granting institutions in Maryland on the National Council Licensure Examination. Starting in fall 2012, the University begins its first doctoral program, in nursing practice. See full press release. |
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University of Baltimore School of Law Receives $500,000 Gift for Scholarships | | Regional Banking Executive Bruce Hammonds Donates Funds to Expand Program
In 2000, Bruce Hammonds committed $500,000 to establish the Hammonds Scholar Program at the UB Merrick School of Business. This fall, Mr. Hammonds pledged another $500,000 for the same program.
The fund supports full tuition scholarships, as well as the purchase of computers for scholarship recipients who need them. In addition, it provides paid internships for students so they can work on supervised projects in the Merrick School's Systems Research Center and the e-Learning Center, and it covers the cost of selected events for these interns, such as field trips, conferences, and meetings with executives.
Students are selected from undergraduates in the Merrick School who wish to pursue careers in technology fields, with special consideration given to those who are academically qualified, but economically disadvantaged. |
Carnegie Corporation Honors UMBC President Freeman Hrabowski with 2011 Academic Leadership Award | | Carnegie Corporation of New York has announced that Freeman A. Hrabowski III, president of the University of Maryland, Baltimore County (UMBC), along with Eduardo J. Padrón, president of Miami Dade College, have been awarded the foundation's Centennial Academic Leadership Award.
Hrabowski's award recognizes his development of a culture of excellence and success in preparing students of all backgrounds to become Ph.D. scientists and engineers. Beginning with dynamic initiatives in science, technology, engineering, and math, Hrabowski has infused principles of excellence and teaching innovation throughout the university.
Carnegie Corporation honors awardees with grants of $500,000 each to be used at their discretion in support of their academic initiatives. See full press release.
Chancellor William E. "Brit" Kirwan received the distinguished award in 2009.
President Hrabowski also was featured recently on CBS's 60 Minutes program. To view, go to the network website. |
USM News Briefs | |
Irwin L. "Irv" Goldstein, USM senior vice chancellor for academic affairs, will leave his position on June 30, 2012. A tenured faculty member at the University of Maryland, College Park, Goldstein will work on special projects for the USM office and the UMCP campus. A former dean and department chair at UMCP who performed numerous special leadership assignments at the USM's flagship campus, Goldstein, 74, joined the USM office in November 2003 as vice chancellor for academic affairs. He was named senior vice chancellor in July 2006. Chancellor Kirwan in the coming weeks will launch a search for Goldstein's successor, whose service would begin in July 2012 upon Goldstein's departure. Goldstein will assist the new vice chancellor in making that person's transition to the academic affairs leadership as seamless as possible.
University of Maryland officials, including President Wallace D. Loh, participated in a delegation of business leaders, elected officials and educators led by Governor Martin O'Mally on a six-day mission to India to open new avenues for two-way trade, investment and education with one of the world's fastest growing economies. India has initiated a strategic plan to dramatically increase its middle class, fueled in part through the expansion of its public higher education system. Daily updates were posted by the university to track the team's progress.
Dr. Jamal Uddin, assistant professor and director of the Coppin State University Nanotechnology Research Center, was recently awarded an E˛ Energy Educate Grant from The Constellation Energy Foundation in the amount of $50,000. The grant will support hands-on demonstration projects that enhance student understanding of the science and technology needed to address energy issues.
Frostburg State University's rapidly growing online Bachelor of Science in Nursing program has achieved accreditation from the Commission on Collegiate Nursing Education, an essential step in the development of the young completion program which helps registered nurses earn their bachelor's degrees.
U.S. President Barack Obama and First Lady Michelle Obama attended the Towson Tiger's basketball game against Oregon State at Towson Center on November 26. Oregon State Coach Craig Robinson is Michelle Obama's brother. In addition, actor Bill Murray, father of Towson assistant coach Luke Murray, spent a few moments with the president. |
Staff News | |
Naomi Johnson recently joined the USM Advancement and Foundation staff as administrative assistant. She has already hit the ground running, supporting our special events office and the Foundation's finance and administration area. Naomi joins us from the University of Maryland, where she worked in the Earth System Science Interdisciplinary Center. She also has several years of administrative experience at private companies in the region. A native Washingtonian, Naomi is currently working toward a degree in political science and communications at UMUC. She loves to cook, watch television, and describes herself as a "long-suffering Redskins fan." She is the proud parent of an 11 year old son. |
Diana White
Editor
301-445-1999
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