A newsletter for Foundation directors and friends of higher education in Maryland

Letter from the President

Dear Friends and Colleagues,


It's a wonderful start to a new calendar year at the USM Foundation. We continue to be excited about the announcement of our new incoming chancellor, Robert Caret. We also are shifting into high gear for our upcoming gala event honoring current chancellor Brit Kirwan. I have had the pleasure of working with both throughout the years and I can't think of two better leaders for the University System of Maryland.


As many of you may know, I am a proud Towson alumnus, and from 2003 to 2011, Bob served as president of Towson University. He was instrumental in creating partnerships with regional businesses, non-profit and civic organizations, and he led a capital fundraising and building campaign to support campus infrastructure improvements. Towson flourished under his visionary leadership, and I am honored and privileged to be able to call Bob a friend. Read more about Bob below.


However, it saddens me to share that Bob's successor at Towson, the wonderful Maravene Loeschke, has announced her resignation as president from Towson University. Maravene has been battling some significant health issues during this last year and wisely chose to focus on that battle. While I know we will all miss Maravene and her enthusiasm, please send her your best wishes for a successful recovery.


While this promises to be a year of change, I already am certain that we will continue to build on the successes laid out for us by leaders such as Brit Kirwan and Maravene Loeschke. Happy 2015 to all of you, and please contact me at raley@usmd.edu or 301-445-1941 with any questions or comments.




Leonard R. Raley

November 2014 Investment Office Update
After a volatile October, stocks and the U.S. dollar appreciated in November as steps were taken toward further monetary accommodation in Europe, Japan, and China. The month began with the Bank of Japan unexpectedly announcing additional stimulus measures, after which the Chinese central bank surprised the markets by cutting its deposit and lending rates. The European Central Bank also made statements about quantitative easing measures during the month. Despite the continued underperformance of the energy sector in November, this news of further stimulus helped reverse the risk aversion that dominated October and sparked rallies across a number of asset classes.

Robert L. Caret to Return to Maryland as USM


Just before the holidays, the USM announced that Robert L. Caret would be returning to Maryland to succeed Brit Kirwan as the new chancellor of the University System of Maryland. Caret will be coming to us in July, after a successful tenure as president of the five-campus University of Massachusetts (UMass) system. Caret is no stranger to the USM, as he spent much of his career at Towson University, including as president from 2003 to 2011. At UMass, Caret has been a major spokesperson on the issues of college affordability and student debt, which are hallmark themes of the USM's current initiatives. His years of experience as a leader of two public universities (Towson and San Jose State University) and one public university system combined with his ability to build partnerships that benefit institutions and the surrounding communities make him an excellent choice to lead the University System of Maryland into its next chapter.


We look forward to welcoming Bob back into the fold in July.

Quick Facts About Incoming Chancellor Robert L. Caret
  • He has served as president for three institutions: San Jose State University, Towson University, and the University of Massachusetts System.
  • He has a Ph. D in organic chemistry from the University of New Hampshire and a bachelor's degree in chemistry from Suffolk University in Boston.
  • At Towson University, he served as a faculty member, dean, executive vice president, and provost during his more than 25-year tenure.
  • He was instrumental in establishing Towson University in Northeastern Maryland, which opened in Fall 2014, and increased undergraduate enrollment by 23 percent to about 17,000 students as president of Towson University.
  • As president of San Jose State, he partnered with the city's mayor to create the nation's first joint university and city library.
  • At UMass, he was able to lobby the legislature to pay for half a student's education - thereby allowing tuition to be frozen for the past two years.

USM Regent Norm Augustine Inducted into the U.S. News STEM Leadership Hall of Fame

USM Regent Norm Augustine was inducted into the U.S. News STEM Leadership Hall of Fame. In choosing the honorees, U.S. News sought out individuals who have achieved tangible results in the science, technology, engineering, and math fields; challenged established processes and conventional wisdom; inspired a shared vision; and motivated legions of aspiring STEM professionals. Augustine's professional and personal history is colored with experiences in engineering, defense contracting and serving within the United States Army. What an honor for our esteemed regent!

January 2015
Vol. 9, Iss. 1
In This Issue
USM News Briefs   

Frostburg has named John Short, associate vice president for development at Albright College in Reading, Pa., as vice president for university advancement and executive director of the FSU Foundation, Inc. He will be responsible for overseeing all fundraising operations and alumni programs for the University. John will join Frostburg in February.

Trends in Philanthropy

More Millennials Value Volunteering Than Previous Generation Did

A recent Associated Press poll revealed that three out of ten (29 percent) Americans under the age of 30 agreed that citizens have a "very important obligation" to volunteer, a significant increase from the 19 percent who said the same thing in a similar survey conducted in 1984. The survey also found that respondents age 50 and older thought it less important than respondents who were 50 or older thirty years ago.


Staff Member News 

Diana White, our manager for strategic initiatives, received a staff recognition award from Chancellor Kirwan in recognition of her exemplary service to the Office of Advancement. She has been a member of our staff since 2006 and has played an integral role in expanding our services, especially in building a robust professional development program for our advancement colleagues throughout the System. We are thrilled for Diana as she is a valuable member of our team here. 

Congratulations, Diana!

Jess Gill

Editor, LeaderNotes