USM Foundation Logo


A newsletter for Foundation Directors and friends of higher education in Maryland
In This Issue
Investment Report
Campaign Report
Trends in Philanthropy
Salisbury Celebrates End of Campaign
USM Joins National Movement
Towson T Rowe Price Grant
USM News Briefs
Staff News
In Memoriam
Quick Links
Volume 6, Number 1Winter 2012
Dear Friends and Colleagues,


We have a number of developments to report:

First, and most exciting, is the new Strategic Alliance between the University of Maryland, Baltimore and the University of Maryland, College Park that was approved late last year by the USM Board of Regents. This alliance will enable the two complementary institutions to leverage resources and talent to promote partnerships that result in groundbreaking innovation. This alliance will open the doors to more opportunities and collaboration by tapping into shared strengths which may even result in cross institutional, transformative gifts.

Our CIO search is well underway.  The search attracted over 150 applications from highly qualified individuals.  We have narrowed the field to a small group of candidates and will be conducting interviews in New York on February 21st. My thanks go out to Charles Skorina, our search firm for a new chief investment officer, as well as the search committee (Barry Gossett, Neil Moskowitz, David Saunders, and Walter Fatzinger) for their hard work.

You will note that our campaign report shows that fundraising has remained strong through the end of the calendar year. Salisbury University just ended its campaign at almost $15 million over the initial target (see article), the University of Maryland, College Park has exceeded the $900 million mark, and overall, we are ahead of last year's progress.  Kudos to all who have worked hard to make this possible. Your work has a direct benefit to students and faculty, and you have strengthened alumni ties with their institutions through meaningful gifts.

On a sad note, we recently bid adieu to long time Salisbury University Vice President for Institutional Advancement Rosemary Thomas. Rosemary has taken a new position at the Florida Gulf Coast University effective February 20th as vice president for university advancement and executive director of the FGCU Foundation. While we will miss Rosemary, we know that she will enjoy her new position in the Sunshine State.

I want to congratulate Pam Purcell on her permanent appointment as vice president for finance and chief financial officer. Pam has worked tirelessly, along with Bill Wojcik and other USM Foundation staff, to reorganize organizational operations of the foundation over the past 18 months. In addition to her new role, Pam will retain her position as the director of planned gifts for the USM Office of Advancement and general counsel for the Foundation.

Finally, I want to send my condolences out to Board Member David Mister, who lost his wife, Jodi, recently in an accident. Our thoughts and prayers are with him, and we are so very sorry for his loss.

As always, please contact me at with any questions or comments.
Leonard R. Raley
Investment Performance through 12/31/2011 

Endowment %

S&P 500


Composite Benchmark






Latest Month






FYTD 2012






CYTD 2011



















Campaign Progress






















































USM Federated





Trends in Philanthropy

Women Drive Philanthropic Decisions in Wealthy Households

A new study reveals that women are either the sole decision maker or an equal partner in decisions about charitable giving in nearly 90 percent of high net worth households. See article.

Time is Now to Teach Students How to Give


The national average for alumni participation has steadily declined in recent years. Young alumni are also giving to a fewer number of charities. And yet, these young alumni now make up a significant and growing share of many institutions' donor databases. This is a make-or-break moment for alumni relations professionals hoping to cultivate student philanthropy and turn these future young alumni into future donors, say faculty who are presenting at a CASE conference this spring.


"For a long time, universities relied on the inherent loyalty of alumni to cultivate donors," says Brian Kish, senior vice president of development at the University of Arizona Foundation and chair of the upcoming CASE "Cultivating Student Philanthropy" conference. "That was the case with the civics and boomers, but that's less the case with generation X and Y. It's not that people aren't as generous today, but we just can't rely on their inherent generosity to give back to their alma maters." Read article on USM Foundation website.


IRA Charitable Rollover Expires


Congress did not act to extend the IRA Charitable Rollover prior to its expiration on Dec. 31, 2011. Many lawmakers hope to pass a retroactive extension of the IRA charitable rollover in 2012. Read more on the CASE website.

IRS Suspends Form 990 E-Filing


The Internal Revenue Service has suspended its electronic filing system for the Form 990 until Feb. 29, 2012. Read more on the CASE website.

Salisbury Celebrates the Conclusion of Campaign 2012

Salisbury University announced on February 3 that it has concluded Campaign 2012, a highly successful fundraising initiative launched in 2006 that exceeded its original goal by nearly $15 million. The campaign was publicly announced at SU's 80th Anniversary Gala with an initial target of $25 million. The campaign concluded just inches shy of $40 million.


Funds raised made it possible to construct the Teacher Education and Technology Center, which opened in 2008, and Perdue Hall, new last fall. The campaign also supported other campus improvements and community outreach opportunities, such as the May Literacy Lab and the Nabb Research Center for Delmarva History and Culture.


The top priority, however, was scholarship funding and faculty support. More than $13.8 million was raised for scholarships.

In 2008, SU, with its successful team approach, was honored by the Council for Advancement and Support of Education with a CASE-WealthEngine Award for Overall Improvement of superior fundraising programs. See SU's website for full story.

USM Joins National Movement to Recruit, Develop 100,000 Outstanding STEM Teachers in 10 Years

An innovative movement to recruit, prepare, and retain 100,000 science, technology, engineering, and math (STEM) teachers in 10 years (100Kin10 movement) has achieved critical mass with the addition of new, quantifiable commitments by more than 30 educational and corporate partners, including the USM. The USM's commitment includes tripling the number of STEM teachers graduating from University System of Maryland institutions and increase by 40 percent the number of STEM graduates produced by USM institutions.


"We are proud to join our colleagues from Baltimore City Public Schools, the State of Maryland, and others nation-wide in this critical movement," said USM Chancellor William E. "Brit" Kirwan.


The 100Kin10 movement represents a commitment of the Carnegie Corporation of New York and partners to raise $20 million to support the creative and strategic efforts of partner organizations to expand the nation's STEM teaching force. 


The movement was announced at CGI America, the first Clinton Global Initiative that focused solely on the U.S. More than 750 leaders from businesses, nonprofits, and all levels of government participated in the event, led by former President Bill Clinton, which aims to generate new ideas for spurring economic growth and highlight existing programs which can be replicated and scaled.


100Kin10 is a response to a national imperative voiced by President Barack Obama to stimulate the supply of excellent mathematics and science teachers, but also to continue to improve their practice and keep them in classrooms. See full article.

$250,000 T. Rowe Price Grant Helps Establish Finance Lab at Towson

Towson University's College of Business and Economics has partnered with global investment leader T. Rowe Price to establish the T. Rowe Price Finance Laboratory, a state-of-the-art electronic finance lab that will provide students with the ability to research, value, and price complex securities and investments in a simulated trading environment. The Finance Lab will give CBE students hands-on experience in a mock trading lab-all in real-time. Students will use the Lab to analyze financial institutions, portfolios, and market trends, and for coursework in financial modeling, equity analysis, fixed income analysis and risk management.


Funded in part by a generous grant of $250,000 from the T. Rowe Price Foundation and additional support from several current and former T. Rowe Price employees, alumni, faculty, staff, parents, and friends, the Finance Lab will provide TU students with valuable experience and financial knowledge. As of January 15, close to $600,000 has been committed towards the $750,000 fundraising goal for the Finance Lab.


T. Rowe Price hopes the Finance Lab, which will be ready by the fall semester, will provide valuable perspective and experience to TU students, many of whom work for the company after graduating. T. Rowe Price Chief Financial Officer, Kenneth V. Moreland '78, believes "the finance lab will help students better understand how the financial markets work and will help position Towson graduates ahead of their peers coming out of college."

USM News Briefs

Orlan Johnson, chair of the USM Board of Regents, was featured on Maryland Public Television's program, "Direct Connection," on December 12, 2011, where he discussed the board's decision to establish a strategic alliance versus a merger between the University of Maryland, Baltimore (UMB) and the University of Maryland, College Park (UMCP). He answered questions with respect to the USM's designated growth institutions and the USM's participation in President Obama's college affordability and access meeting at the White House.


Chancellor Brit Kirwan was featured on Maryland Public Television's program, "State Circle," on January 6, 2012.  To see the segment, click on this vimeo link.  He notes that four USM instititutions made Kiplinger's Best Values in Education (UMCP; Towson University; University of Maryland, Baltimore County; and Salisbury University), discusses course redesign, access and affordability in higher education, and the strategic alliance between UMCP and UMB.


The College Board Commission on Access, Admission, and Success, chaired by Chancellor Kirwan, recently issued a progress report.  Click here to review the full document.


Frostburg State University has received a $10,000 grant from The PNC Foundation to endow a scholarship in its College of Business. The PNC College of Business Presidential Merit Scholar Award is among a growing number of funds that support the Presidential Merit Scholarships program, a fundraising effort led by FSU President Jonathan Gibralter and the FSU Foundation to secure $2.5 million in merit-based scholarships for high-academic achievers over the next five years. 


UMCP's entry into the U.S. Department of Energy Solar Decathlon 2011, WaterShed, won first place overall in the competition last Fall. A solar-powered home comprised of systems that interact with each other and the environment, WaterShed harvests, recycles, and reuses water. Inspired by the Chesapeake Bay watershed, the home incorporates modernity, tradition, and simple building strategies to achieve high efficiency performance in an affordable manner. For more information, go the the UMCP website.


In its first-ever assessment of online graduate business programs, U.S. News & World Report has ranked the online MBA program, administered jointly by Towson University and the University of Baltimore, among the best in the country.


The University of Maryland Eastern Shore's year-old solar energy collection system has earned an environmental honor from two Delmarva businesses. Mountaire Farms and WMDT named UMES an "Environmental Star Award" winner in recognition of the university's pioneering efforts to make the campus and the lower Eastern Shore more "eco" friendly in its use of energy.  UMES activated a solar farm on a former cornfield in early 2011, and its 7,800 collection panels have been converting the sun's rays into electricity at a healthy clip ever since. At the time it was established, the 17-acre facility was among the largest on an American college campus.


On January 30, the University of Maryland, College Park launched the National Socio-Environmental Synthesis Center, known as SeSynC, based in Annapolis.  SeSynC is a cutting edge research center that will identify and develop policy solutions for today's most pressing environmental challenges. Speakers at the launch included: Senator Barbara Mikulski, Governor Martin O'Malley; UMCP President Wallace Loh; Maryland Senate President Thomas V. "Mike" Miller; Maryland House of Delegates Speaker Michael Busch; SeSynC Executive Director and UMCP and UMCES Professor Margaret Palmer; Resources for the Future President Phillip Sharp; UMCES President Donald Boesch; USM Chancellor Brit Kirwan; and National Science Foundation Director Subra Suresh. The Center will be principally funded by a newly announced $27.5 million, five-year grant from the National Science Foundation, the largest NSF grant in the university's history. 


Staff News

Pamela Purcell has been permanently appointed to the position of vice president for finance and chief financial officer for the USM Foundation. Pam has been serving in this role in an interim capacity since July 2010. She has worked for the USM Office of Advancement and the USM Foundation since 1999, working first as foundation counsel and then adding gift planning to her portfolio. Before coming to Maryland, Pam practiced law in Watertown, NY, with the law firm of Conboy, McKay, Bachman & Kendall, and as a sole practitioner with a focus on real estate law and title insurance. She has spoken at a variety of conferences, including the CASE National Conference for Institutionally Related Foundations, the Association of Governing Boards Conference for Foundation Counsel and at local seminars, and she sits on the board of directors of the National Capital Gift Planning Council.  Pam has a B.A. in English and philosophy from Denison University and a J.D. from the New England School of Law, where she was the senior editor of the law review. Pam also has an L.L.M. in estate planning from the University of Miami Law School.


Sapna Jacob has been appointed director of research at the USM Office of Advancement. Sapna has been with the USM office since 2005, serving as a prospect researcher before stepping into the interim director role following Donna Meyer's retirement last spring. Sapna earned her undergraduate degree from the Smith School of Business and a master's degree from UMUC in management information systems. Prior to joining the USM office, she worked at UMUC in their advancement office.


In Memoriam
University of Maryland School of Law donor William Polk Carey, one of the country's leading philanthropists in education, died on January 2, 2012, at the age of 81. The W. P. Carey Foundation, which Carey chaired, donated $30 million last April to the Francis King Carey School of Law.  The gift is the largest in the University of Maryland, Baltimore's history. The UM Law School was renamed in honor of Carey's grandfather, a graduate of the class of 1880.


Carey was the founder and chair of W. P. Carey & Co. LLC, a leading specialized investment banking firm headquartered in New York City, with operations worldwide. Carey began his career in international corporate finance. He moved into the net leasing of corporate real estate in 1964 as chair of the executive committee of Hubbard, Westervelt & Mottelay (now Merrill Lynch Hubbard). Before starting W. P. Carey & Co. in 1973, he served as head of real estate and equipment financing at Loeb, Rhoades & Co. and vice chair of the investment banking board and director of corporate finance at duPont Glore Forgan Inc.


Educated at Princeton and the University of Pennsylvania's Wharton School, Carey held honorary doctorates from Arizona State University, the City University of New York, and the University of the South. Additionally, in 1999 Carey served as the executive in residence at the Harvard Business School.   

A direct descendent of U.S. President James K. Polk, Carey was born on May 11, 1930, in Baltimore.  His grandmother, Anne Galbraith Carey, founded the Gilman School, the nation's first country day school, in 1897.


Jodi Robyn Mister, an entrepreneur who established a home cleaning business, died Sunday, January 29, at Maryland Shock Trauma Center of brain trauma after a fall in her Baldwin home. She was 44. 

Jodi was born in Baltimore and raised in Glen Arm. She was a 1985 graduate of Dulaney High School and attended the University of Maryland, College Park. 

Jodi was the loving wife of David F. Mister, the devoted mother of Matthew and Andrew Mister, and the daughter of Joan Holthaus and the late Robert R. Holthaus, M.D. Memorial contributions may be made to the University System of Maryland Foundation for the Jodi Mister Scholarship Fund or to the University of Maryland Shock Trauma Institute.  
Diana White