2009
ANNUAL REPORT
The University of Maryland Baltimore Foundation, Inc. (UMBF) manages and invests private gifts and/or property for the benefit of the University of Maryland, Baltimore (UMB), facilitates fundraising programs and contributions from private sources, and engages in other activities to further the educational, research, and service missions of UMB. The UMBF Board of Trustees is comprised of influential and committed leaders who are dedicated to advancing the goals of UMB. The trustees serve as advisors to the University president on matters affecting the campus, its programs, and the community, and promote UMB through advocacy. Philanthropic support is vital to ensure the University’s continued advancement as one of the nation’s top academic health, law, and human services institutions. UMBF provides opportunities for alumni, friends, foundations, corporations, and others to support the strategic mission and goals of the University of Maryland, Baltimore.
The UMBF Board of Trustees is pleased to report that UMB met its fundraising goal during Fiscal Year 2009 (FY09) and set a record for the University. The $80 million raised surpasses by more than $11.3 million the previous record fundraising total of $68.7 million, set in FY08. FY09 is the fifth consecutive year that the University has met or gone beyond its fundraising objective. The University is now more than halfway toward reaching its ambitious goal of $650 million during UMB’s multiyear capital campaign—“Making an Impact Worldwide.” Through your gifts, you can shape the future with the support that enables the University to excel in its mission of providing excellence in education, research, public service, and patient care. (To learn more about shaping the future with a planned gift, see page 51.) To contribute to this effort, please use the return envelope enclosed in this issue of Maryland magazine or visit http://giving.umaryland.edu.
2010
RESEARCH & SCHOLARSHIP
61
UNIVERSITY OF MARYLAND BALTIMORE FOUNDATION, INC.
$30M
TOTAL EXPENDITURES
25%
$26.8M
$25M
INVESTMENT RETURNS 22%
20% $23.2M
$20M
$19.6M
15%
$19.5M
$15M
10%
$10M
5%
$0
0%
$90M
2005
2006
2007
2009
2008
TOTAL ENDOWMENT INVESTMENT
14%
13.4%
$17.9M
$50M
1
0.10%
2005
2006
2007
2008
-24.4%
2009
TOTAL OPERATING FUND INVESTMENT
$85.1M $76.9M
$70M
$45M $65.7M
$50M
2005
2006
2007
2008
2009
TOTAL OTHER ASSETS $29.9M
$30.7M
$25M
$180M
2005
$40.7M
2006
2007
2008
$161.8M $143M
$21.5M $19.2M
$19.8M
90M
2009
TOTAL ASSETS
120M
$140M
$114.7M $99.9M
60M
$10M
62 62
$41.6M
150M
$15M
$5M
$40M
$30M
$25M $20M
$43.6M
$35M
$30M
$30M
$46.7M
$52.5M $39.1M
$0
$46.2M
30M
2005
2006
2007
2008
U UN NIIV VEER RSSIIT TY YO OFF M MA AR RY YLLA AN ND D,, BBA ALLT TIIM MO OR REE
2009
$0
2005
2006
2007
2008
2009
ANNUAL REPORT 2009 Summary Statement of Financial Position June 30, 2009 and 2008
ASSETS
2009
2008
INVESTMENTS Endowment
$65,743,232
$85,174,084
Operating
43,587,036
46,893,941
109,330,268
132,068,025
Total investments
OTHER ASSETS Contributions receivable Assets held under split-interest agreements Other assets
Total other assets
TOTAL ASSETS
25,484,657
23,993,874
2,581,217
3,065,481
2,600,738
2,681,443
30,666,612
29,740,798
$139,996,880
$161,808,823
LIABILITIES & NET ASSETS LIABILITIES Payable under split-interest agreements
$1,651,961
$1,721,470
Accounts payable and accrued expenses
2,013,689
2,090,275
Total liabilities
3,665,650
3,811,745
NET ASSETS Unrestricted
9,956,259
18,788,552
Temporarily restricted
45,261,930
64,396,684
Permanently restricted
81,113,041
74,811,842
136,331,230
157,997,078
$139,996,880
$161,808,823
Total net assets
TOTAL LIABILITIES & NET ASSETS
To obtain a copy of the UMBF, Inc., audited financial statements, please contact University of Maryland Baltimore Foundation, Inc., 620 W. Lexington St., Baltimore, MD 21201. Phone 410-706-3912 or e-mail jblackburn@umaryland.edu.
2010
RESEARCH & SCHOLARSHIP
63
UNIVERSITY OF MARYLAND BALTIMORE FOUNDATION, INC.
BOARD OF TRUSTEES Janet S. Owens, Chair Community Activist and Former Anne Arundel County Executive
Kempton M. Ingersol Managing Director and Senior Portfolio Manager Brown Capital Management, Inc.
Edward J. Brody, Vice Chair CEO, Brody Transportation Co., Inc.
Donald M. Kirson Retired President and CEO Kirson Medical Equipment Co.
James A. Earl, PhD, Secretary President, Helena Foundation Don-N. Brotman, DDS General Dentist Harold E. Chappelear Vice Chairman UPM Pharmaceuticals, Inc. Principal, InternaSource, LLC Charles W. Cole Jr. Retired Chair, Legg Mason Investment Counsel & Trust Co. Anna M. Dopkin Co-Director of U.S. Equity Research and Portfolio Manager T. Rowe Price Associates, Inc.
Kyle P. Legg, CFA CEO, Legg Mason Capital Management
Richard L. Taylor, MD President, Taylor Medical Group John C. Weiss III Chair, Biotechnical Institute of Maryland, and Co-Chair, Entrepreneurship Board, University of Baltimore Merrick School of Business Garland O. Williamson CEO and President Information Control Systems Corp.
Sally Michel Baltimore Activist and Founder, SuperKids Camp
William T. Wood Esq. Wood Law Offices, LLC
Milton H. Miller Sr. Retired Founder Miller Corporate Real Estate
EX-OFFICIO MEMBERS David J. Ramsay, DM, DPhil President, University of Maryland, Baltimore
Thomas P. O’Neill Consultant
T. Sue Gladhill, MSW President and CEO UMBF, Inc.
James A. D’Orta, MD Chair, Consumer Health Services, Inc.
Theo C. Rodgers President, A & R Development Corp.
Morton P. Fisher Jr. Partner, Baltimore Office Ballard Spahr Andrews & Ingersoll, LLP
Donald E. Roland Retired Chair, Vertis
Judith S. Blackburn, PhD, MBA Treasurer and CFO UMBF, Inc.
Devy Patterson Russell Associate Judge, District Court of Maryland for Baltimore City
Jordan I. Bailowitz Legal Counsel Partner, DLA Piper LLP (US)
Robert G. Sabelhaus Retired Senior Executive Vice President and Division Director Smith Barney
Staff Mary A. Nichols Director, UMB Foundation Relations
Joseph R. Hardiman Retired President and CEO National Association of Securities Dealers, Inc. David H. Hillman CEO Southern Management Corporation Richard J. Himelfarb Executive Vice President Stifel, Nicolaus & Co., Inc. Wallace J. Hoff Retired Vice President and General Manager, Northrop Grumman Aerospace Systems Division
64
Harry C. Knipp, MD Senior Principal and Physician Partner, Advanced Radiology
C. William Struever Partner, CEO, and President, Struever Bros. Eccles & Rouse, Inc.
Pauline A. Schneider, JD Partner, Orrick, Herrington & Sutcliffe LLP Alan Silverstone Consultant Frederick G. Smith, DDS Vice President, Sinclair Broadcast Group, Inc.
UNIVERSITY OF MARYLAND, BALTIMORE