The Culver Educational Foundation | 2016-2017
ANNUAL REPORT
The Culver Educational Foundation
BOARD OF TRUSTEES Trustees Miles D. White ’73 Chairman Chairman and CEO Abbott Abbott Park, Illinois James A. Henderson W ’47, ’52 Chairman Emeritus Retired Chairman and CEO Cummins Inc. Columbus, Indiana Jeffrey P. Adams ’69 Treasurer Retired President Balentine, LLC Atlanta, Georgia Harry L. Crisp II ’53 Vice President Chairman and CEO Pepsi Mid America Marion, Illinois David M. Culver ’59 Vice President Revluc & Co. St. Louis, Missouri Craig J. Duchossois ’62 Vice President CEO The Duchossois Group, Inc. Elmhurst, Illinois Jane Doehrman Eberly ’73 Vice President Naples, Florida Paul C. Gignilliat ’49 Vice President Senior Vice President UBS Financial Services, Inc. Chicago, Illinois
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Dr. Margaret Riecker Thompson ’77 Vice President, Secretary Interim Associate Dean For Academic Affairs Michigan State University College of Human Medicine Grand Rapids, Michigan John D. Zeglis W ’61, NB ’64 Vice President Retired President of AT&T and Chairman and CEO of AT&T Wireless Culver, Indiana Whitney Kolb Alvis ’96 Norman, Oklahoma Jana Baldwin Co-chair, Culver Parents Association Culver, Indiana N. Merritt Becker N ’83 CSSAA President Partner Cummins Crosspoint, LLC Indianapolis, Indiana Laura Schact Bilicic ’82 Chicago, Illinois John J. Bollman ’75 Senior Vice President Cooper Tire and Rubber Co. Findlay, Ohio Kathryn Ryan Booth L ’67 Partner Trinity Private Equity Group South Lake, Texas William H. Brewer ’74 CEO Cornell Forge Company Chicago, Illinois
Eric H. Burns N ’73 Partner Withered Burns LLP Lafayette, Indiana George T. DeVries III ’77 Chairman and CEO American Specialty Health San Diego, California Peter Fasseas ’57 Chicago, Illinois James Fellowes ’64 Chairman & CEO Fellowes, Inc. Itasca, Illinois P. Lamar Gable ’61 Chairman Barron Collier Company Naples, Florida James S. Gault ’70 President, Brokerage Services Arthur J Gallagher & Co. Itasca, Illinois Richard A. Jennings ’70 CEO Atlantic Resources Co. LLC Midland, Texas Robert H. Ledbetter Jr. N ’81 CEO R.H. Ledbetter Properties, Inc. Rome, Georgia Jud Q. Little ’65 President & CEO The Quintin Little Company, Inc. Ardmore, Oklahoma
The Culver Educational Foundation
BOARD OF TRUSTEES MG John W. Peabody ‘76 W ‘72 Senior Vice President Director of Federal Programs Mott McDonald Arlington, Virginia Bernardo Quintana ’59 Chairman Empresas ICA Mexico City, Mexico John Ruan III ’61 Chairman & CEO Ruan Transpo. Mgmt. Systems Chairman, President & CEO BTC Financial Corporation Des Moines, Iowa Thomas H. Story ‘67 Thomas Story and Son, LLC Culver, Indiana J. Michael Tinsley ’90 Co-Chair, Culver Parents Association Manager Trade Compliance Crown Equipment Corp. New Bremen, Ohio Robert C. Vaughn ’74 Chairman and CEO Vaughn Petroleum, LLC Dallas, Texas
Trustees Emeriti
James W. F. Brooks ’66 Chairman Brooks Capital Management, LLC Holland, Michigan Samuel C. Butler ’47 Cravath, Swaine and Moore LLP New York, New York James F. Dicke II ’64 Chairman and CEO Crown Equipment Corporation New Bremen, Ohio James L. Dunlap ’56 Santa Fe, New Mexico
The Honorable Penelope Redington Austin, Texas Henry B. Schacht Director and Senior Advisor E.M. Warburg, Pincus & Co., LLC New York, New York Franklin D. Schurz Jr. ’48 President Schurz Communications, Inc. Mishawaka, Indiana Thomas C. Sullivan ’55 Chairman Emeritus RPM International Medina, Ohio
Richard W. Freeman Jr. ’56 Jennifer Swindal ’77 Former President The Louisiana Coca-Cola Bottling Co. Ltd. Tampa, Florida New Orleans, Louisiana J. Lawrence Wilson ’54 Bryn Mawr, Pennsylvania Michael Huffington ’65 Joseph Levy Jr. ’43 Chairman Levy Venture Management Skokie, Illinois
John W. Woodmansee Jr. ’52 CEO Tactical & Rescue Gear, Ltd. Frisco, Texas
J. Gregory Poole Jr. ’53 Raleigh, North Carolina
COL Dartanian Warr ’76 (USAF Ret) Shaker Heights, Ohio Michael R. Wilcox Chairman and CEO Wilcox Financial Wilcox Sports Management Toledo, Ohio Dr. Anna L. Wildermuth ’83 Legion President Froberg Pediatrics Lafayette, Indiana Published by The Culver Educational Foundation, 1300 Academy Road, Culver, Indiana 46511-1291
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The Culver Educational Foundation
ANNUAL REPORT 2016-2017
Table of Contents
A Message from Miles White ’73, Chairman of the Board. . . . . . . . . . . . . . 6 Financial Facts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6-8 Q & A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Donor Recognition . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Leadership Giving . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Ross Beason Jr. Society . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Corporate Matching Fund Contributors. . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 In Memoriam . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Eugene C. Eppley Club . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 Class Giving . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 Summer Schools & Camps. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62 Parents & Grandparents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72 Friends. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 82 Faculty & Staff. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85
Senior Leadership: Advancement Office Holly Johnson
Chief Advancement Officer
Mike Hogan
Pamela Christiansen
Alan Loehr
Laura Yeager
William F. Hargraves III ’77
Julie Crews Barger
K. Megan MacNab Bekker ’87
Antonio Giraldi ’75
Director of Development Operations
Director of Alumni Relations
Director of Strategic Communications
Director of The Culver Fund
Director of Planned Giving
Director of Stewardship
Director of Parent Relations
Chief International Officer
Catherine Zurbrugg
Director of Major Gifts We make every effort to ensure the accuracy of donor lists, but, occasionally, mistakes do occur. Please send information regarding errors or omissions to Development Office, 1300 Academy Road #153, Culver, IN 46511. You may also contact Mike Hogan at (574) 842-8233 or mike.hogan@culver.org
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Annual Report 2016-2017| 5
A message from the Chairman Of The Board
Your support, in whatever form, is important and appreciated Dear Alumni, Parents and Friends: One of the important components of excellence that Culver teaches is not just to innovate or try new things, but also to take care of what one is given. To that end, we completed a number of significant projects this year that maintain the excellence that Culver is noted for, and we have all of you to thank for it. Thanks to the generosity of Culver donors, four major projects were completed: • A major restoration of the Culver Memorial Chapel ensured that this monument honoring those who gave their lives fighting for our country after World War I was restored to its original beauty. • Construction of the Julius W. Hegeler II Wing of Argonne Dormitory was completed this past year along with a full renovation of the Argonne Dormitory. The new Wing provides 28 rooms providing space for the 56 girls who are members of the recently created Harbor Dorm unit. • Culver’s hockey facilities also received a full renovation, which will only strengthen the school’s prestige in one of its signature sports. This project included construction and renovation of locker rooms, a new weight room & coaches offices, new interior lighting, and painting of the complex’s interior and exterior. • The Culver Golf Course was restored to its original design, and a new Golf House was constucted. Golfweek.com recently ranked the course as the No. 2 course of all campus golf courses in America, behind only Yale University. I thank you for your contributions of more than $34.9 million in cash gifts (Culver Fund, capital, and endowment), to support Culver in the 2016-17 fiscal year! I also appreciate your significant time and talent, whether as a class volunteer, a Culver Club volunteer, or recruiting great young men and women for our Summer and Boarding school programs. I also extend a special thanks to our alumni and parents who serve on our Sustainability Advisory Council, helping Culver be “green” and remain sustainable in the years to come. Looking ahead, Culver is beginning the initial planning efforts for a comprehensive capital campaign. A top priority will be upgrading the student residential area by building two new barracks and significantly renovating the remaining six dormitories and barracks. As always, I am grateful and impressed by the support and dedication shown by all of Culver’s donors and volunteers. I wish to reiterate the commitment of The Culver Educational Foundation’s Board of Trustees to be responsible stewards of the school and summer camps and to express our gratitude for everything you do for Culver.
Sincerely,
Miles D. White ’73
6 | The Culver Educational Foundation
Summary of
Financial Results
Fiscal year ending June 30, 2017. Preliminary and Unaudited as of September 30, 2017 (IN MILLIONS)
YEARS ENDED JUNE 30
2017 2016 2015 Assets 522 520 522 Liabilities 98 Increase in net assets (7) Unrestricted net assets 86 Temporarily restricted net assets 37 Permanently restricted net assets 301 Operating revenues and other additions 57 Operating expenses 60 Endowment Contributions and Additions 18 Market value of endowment and funds functioning as endowment 419 Total investment return (loss) 33 Capital expenditures 6
98 (2)
90 9
67 63 301
80 54 299
54 56
54 54
19 387 (4)
12 391 11
10
5
INVESTMENT POOL SPENDING PURPOSES
INVESTMENT POOL MARKET VALUE Fiscal years ending June 30, 2017
Fiscal year ending June 30, 2017
INVESTMENT POOL MARKET VALUE
INVESTMENT POOL SPENDING PURPOSES
Fiscal years ending June 30
Fiscal year ending June 30, 2015
$500 $450
Scholarships/Merit
DOLLARS IN MILLIONS
$400 $350
Operations
$300 $250
Other Assets Endowment
Academic C hairs
$200 $150
Academic Programs
$100 $50
Maintenance F unds
$-
Profe ssio nal Growth
$-
$1.0
$2.0
$3.0
$4.0
$5.0
DOLLARS IN MILLIONS
$6.0
$7.0
$8.0
$9.0
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CEF Summary Net Income (000’s) 2017-18 Budget $61,348
Endowment Draw $21,671 35%
Tuition & Fees, net $31,529 52% (net of $14,133 scholarship/ financial aid) Other Income $2,498 4%
Culver Fund $5,650 9%
CEF Summary Net Expense (000’s) 2017-18 Budget $61,348 Administrative Compensatio n and Benefits $11,965 19%
Facilities and Utilities $7,067 12% Other Expense $5,901 10%
Academic and Student Life Compensatio n and Benefits $28,920 47%
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Student Programs and Services $7,495 12%
This listing reflects gifts made between July 1, 2016, and June 30, 2017.
& Q A What is the importance of the Culver Fund?
What gifts count toward a Class Reunion Culver Fund goal?
The Culver Fund supports the operating budget of the school, especially Culver’s strategic priorities of student financial aid, faculty and staff salaries, and programs.
Culver Fund gifts received during the current fiscal year ending on June 30.
What is considered a Culver Fund gift?
• Ideal Culver Fund gifts are unrestricted, immediate-use cash gifts.
• Minimally restricted gifts to standard areas
What gifts do not count toward a Class Reunion Culver Fund goal?
• Pledges • Gifts made in prior years • Non-Culver Fund gifts, e.g. endowment, capital, deferred
of budgeted expense (student scholarship, faculty salaries, etc.) also count as Culver Fund.
• Multiple year pledges are welcomed, but
only cash received within a current fiscal year (July 1- June 30) will be credited for a Culver Fund gift that year.
What is a gift-in-kind?
• A gift-in-kind is a physical item or evidence
of a personal or corporate expenditure that cannot be liquidated for cash.
• A gift-in-kind will not be credited to The
Culver Fund unless it reduces specifically budgeted expenses in that fiscal year.
What is an unbudgeted restricted gift An unbudgeted restricted gift is an unanticipated donation for a program/item/service that was not part of the approved budget and is counted as Culver Fund.
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The Culver Legion Board of Directors Anna Kantzer Wildermuth ’83 President
MG (R) Richard J. Sherlock ’76 Past President Lara Smith Nicholson ’86 First Vice President John Akalaonu ’98 Caitlin Blythe ’02 Meg Dinwiddie Burk ’91 Noreen Bangius Cagle ’85 Katherine Schneider Captain ’92 Raj Chopra ’89 Robert Christoph Jr. ’96 Shane Giuliani ’05 Evan Heckman ’06 Charles O. Lewis Sr. ’77 Michelle Beggs Moncrief ’92 Howard Mosley Jr. ’77 Jerome Ney Jr. ’57 Charles Osborne ’88 Edwina “Katie” Peterson ’02 Nicholas Ramtin ’05 Michael Rudnicki ’92 Timika Shafeek-Horton ’86 John W. Spensley ’77 Andrea Weaks Tabler ’81 Kimberly Hinshaw Tharin ’91 E.B. Vandiver III ’56 (Ad Hoc Director) Christian J. Warnholtz Jr. ’86
Culver Parents Association Board of Directors Mike ’90 & Linda ’92 Tinsley Co-Chairs Ty & Jana Baldwin Co-Chairs Directors: Christine & Peter Barrett Cliff & Kelly Baumgartner Curtis & Cecelia Bolden Steve & Joann Callahan Pete & Ellen Campbell Tracy & Kristin Chandler Dave & Ivy Chenn Brian & Jane Chupp Jimmy ’87 & Heather Clark Steve & Holly Cortes Jay & Aisha Craig
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Craig & Courtney Dauer George ’77 & Jan DeVries Chuck & Minhae Doherty Brian & Amanda Dunlap Ayman & Joann Elfar Tyler & Liz Ellison Sami & Laura Elsaden Gary & Kim Genenbacher Christopher Gram & Sophie Xethalis Joe & Carrie Hart Marcelo & Vianca Hernandez Marc ’87 and Marie Hone Beth Jensen ’86 Dean & Lisa Karahalios Robert ’67 & Emma Kerr Bill & Janene Kuhl Bill & Lisa Lerman Chuck & Linda Maroney John & Julie Meiser Brian & Elizabeth Murphy Tara Parker Patrick & Jennifer Prikkel Ignacio & Ana Pumarejo Jim & Carol Sever Julie & Joseph Taets Ingmar & Bridget Viohl Greg & Tifiany Walker ’92
Culver Summer Schools Alumni Association Board of Directors
Culver Advancement Offices: Holly Johnson Chief Advancement Officer Lisa Barenie Administrative Assistant Cooper Hardy Advancement Fellow Staci Hundt Special Projects, Advancement Ann Norton Admissions/Development Liaison
ALUMNI Alan Loehr Director of Alumni Relations Amy Johnson Office Manager/Volunteer Boards Sandy Lewandowski Alumni Communications Coordinator Ann Maurer L ’82 Administrative Assistant Ben Nowalk W ’02 ’07 Culver Clubs International Coordinator Mary Szymusiak Special Events Coordinator
COMMUNICATIONS
N. Merritt Becker N ’83 President
William F. Hargraves III ’77 Director of Strategic Communications
Ted Foster W ’89 Immediate Past President
Lisa Allyn Duplications Print Specialist
Robert B. Boos N ’85 Samson Chiu W ’87 NB ’90 Emily Barnes Cole L ’84 Bridget O’Connell Collins W ’88 ’93 Anne Cooper W ’84 L ‘87 ’89 Ralph Dise Jr. NB ’69 Emily David Gifford L ’91 Jackson Hazlewood W ’87 Greta Jacobson W ’90 L ’93 Dan Kopp W ’94 N ’98 Peter L. Lacy N ’87 Julie Zeglis Potter W ’90 L ’93 Ted Stimson W ’87 Richard Waterfield W ’85
Tammy Durbin Duplications Print Specialist Crissie Garrison Word Processing Jan Garrison Assistant Director of Publications Jeff Kenney Museum & Archives Manager Angela Kisela Scanning Clerk Lew Kopp W D&B ’66 ’71 Media and Video Manager Mary Kunkle Administrative Assistant Trent Miles Web Content Manager Toni Trump Graphic Designer
DEVELOPMENT K. Megan MacNab Bekker ’87 Director of the Culver Fund Pam Christiansen Director of Planned Giving Mike Hogan Director of Development Operations Laura Yeager Director of Stewardship Cathy Zurbrugg Director of Major Gifts Judy Campbell Culver Fund Officer Ibrahim Fetuga ’01 Development Officer Deb Fox Research Manager
Kim Janney Stewardship Coordinator
Jackie Smith Gifts Manager
Sarah Johnston ’81 Development Officer
Samuel Alameda Culver Fund Officer
Kim Kephart Stewardship Coordinator
Leann Weatherby SS ’86 ’88 Culver Fund Officer
Cindy Krou Operations Manager
INTERNATIONAL ADVANCEMENT
Thomas Mayo ’75 Development Officer Tamara McVicker Gifts/Administrative Assistant Ashleigh Mills Culver Fund Process Improvement Manager Mike Petrucelli Advancement Communications Coordinator Candi Small Research/Administrative Assistant
Antonio Giraldi ’75 Director Karla Hernandez W ’81 Associate Director
PARENTS Julie Crews Barger Parents Coordinator Glenda Mechling-Smith Administrative Assistant
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THE CULVER MISSION Culver educates its students for leadership and responsible citizenship in society by developing and nurturing the whole individual
– mind, spirit, and body –
through an integrated curriculum that emphasizes the cultivation of character.
Culver Academies
1300 Academy Road, Culver Indiana, 46511
culver.org
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This listing reflects gifts made between July 1, 2016, and June 30, 2017.