2020 FOUNDATION ANNUAL REPORT CHANGING LIVES, TOGETHER.
125 YEARS OF EIU: LOOKING BACK
Members of the faculty posing for a group photo (1910).
Student success has been our life’s work for 125 years. EIU has changed a lot over the years, but that goal has remained the same. We cannot wait to see the impact you and our future Panthers continue to make on the world. This annual report features images from EIU’s 125 year history. Search the hashtag #EIU125 on Facebook, Twitter and Instagram for more fascinating EIU
The EIU Marching Band performing in the circle drive in front of Old Main (Date unknown).
memories.
President’s Award Winner Charles H. Clark (left) poses for a photo with President Dan Marvin (1982).
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2020 EIU FOUNDATION REPORT
Two students talking outside of Pemberton Hall. The bench was a gift to the university from the class of 1921 (Date unknown).
Eastern Illinois State Normal School is pictured here under construction. The building was later named the Livingston C. Lord Administration Building (Old Main), after Eastern’s first president (1898).
Eastern’s earliest physical panther mascot, seen here posing with three students, first appeared in the 1953 Warbler (Date unknown).
TABLE OF CONTENTS 125 YEARS OF EIU: LOOKING BACK Sharing photos from EIU’s past - Located throughout report.
A NOTE FROM THE VICE PRESIDENT Message from the Vice President for University Advancement & Executive Officer of the EIU Foundation Ken Wetstein
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Message from the EIU Foundation President
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Board Welcomes New Members and President
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FINANCIALS: WHAT IT ALL MEANS EIUF Financial Report
BUILDING LEGACIES
Philanthropist Recognized for Her Contributions to EIU.
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Giving is a Gift from the Heart
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THANK YOU FOR YOUR SUPPORT Your Donations Make a Difference in the Lives of our Students
EIU FOUNDATION BOARD OF DIRECTORS
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• EIUF Financial Statements & Independent Auditor’s Report • Form 990 (Return of Organization Exempt From Income Tax)
EIUF Endowment Performance Report
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MISSION STATEMENT
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A NOTE FROM THE VICE PRESIDENT
A NOTE FROM THE VICE PRESIDENT Greetings Friends, Alumni, and Donors, “Loyal and True.” I often close my professional email messages with this phrase that I have borrowed from the EIU Fight Song. The first line in the lyrics of the fight song declares that “We are loyal EIU, we’re loyal and true.” If you’ve ever been within 20 feet of me when the Panther Marching band plays the fight song, you’d definitely hear that line loud and clear!
Dr. Ken Wetstein Vice President for University Advancement & Executive Officer of the EIU Foundation
I can’t think of a better phrase than “Loyal and True” to describe the wonderful individuals and organizations who have contributed to the success of this great University over the past year. This annual report from the EIU Foundation highlights some of the wonderful philanthropy and generosity of EIU’s alumni, donors, and friends during the 2019-2020 fiscal year. It has been a very special year. Despite the challenges that a global pandemic sent our way in the Spring and Summer, I am happy to share that this has been one of the best years in the University’s history for gifts. I attribute that success to the hard work of the University Advancement team (past and present), the visionary generosity of our donors, and the University’s fantastic trajectory of growth and momentum. As I stated to everyone who would listen when I “re-joined” the EIU family a little more than a year ago: it’s a great time to be at EIU! Enrollment continues to grow. The academic profile of the freshmen class continues to climb. For three consecutive years the size and the academic profile of the entering freshman class has risen. Membership in our Alumni Association is growing. Institutional momentum attracts investment. Success breeds success. I cannot fully express the gratitude we feel to each of you who are investing in EIU and its students. I am humbled by your generosity and I hope to share my sincere thanks with you in person at a time in the future when the conditions of our world permit. Until that time, I remain… Loyal & True,
Ken Wetstein Vice President for University Advancement and Executive Officer of the EIU Foundation
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Otis W. Caldwell, Biological Sciences faculty member, teaching about birds as part of nature study to training school children seated at desks in classroom (Photo taken between 1899-1907).
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BUILDING LEGACIES
PHILANTHROPIST RECOGNIZED FOR HER CONTRIBUTIONS TO EIU. Dr. Judith M. James 2019 Outstanding Philanthropist
Dr. Judith M. James has been named the recipient of
the required genetics courses for majors and an honors
the 2019 Burnham and Nancy Neal Philanthropy Award
and graduate course in Human Genetics. She served
for her long-standing dedication to Eastern Illinois
as Pre-Medical Studies Chair and University Personnel
University.
Committee Chair, as well as on the Faculty Senate, Intercollegiate Athletic Board, Student Health Advisory
The award is given to individuals and organizations
Board, and Library Advisory Board. Academically, she
who have demonstrated a sincere dedication and
published various professional articles on developmental
commitment to the financial, academic, and cultural
genetics, presenting her research at myriad national and
well-being of EIU. The critical support and sustaining
professional meetings.
financial commitments provided by these distinguished philanthropists are essential to the future of the university and the students it serves. Dr. James, an accomplished EIU retiree professor, began her journey teaching in the Zoology Department on a temporary basis, prior to completing her doctorate in 1987. After earning her Ph. D. in Genetics from Illinois State University, she taught a variety of genetics courses, ranging from “Heredity and Society” through
JUDITH’S INVALUABLE DEDICATION TO EIU EARNED HER TWO FACULTY EXCELLENCE AWARDS. In addition, Judith also served on the Board of Directors of the Central Association of Advisors for Health Professions for six years. After a fulfilling career, including so many memorable and crucial contributions to EIU, she retired from the university in 2011.
ABOUT THE AWARD Beginning in 1993, the Foundation has recognized and honored philanthropists whose spirit and overwhelming generosity serve Eastern Illinois University and its students in untold ways now and into the future. In 1997, the Philanthropy Awards were named after Burnham and Nancy Neal in recognition of their leadership, gifts and steadfast dedication to EIU.
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Students and staff going about their day in the foyer of Booth Library in the mid to late 1960’s (date unknown).
Ten members of EIU’s faculty formed the “Fossils” basketball team (1952).
Charles B. Hall, Eastern football and track star, was an ace fighter pilot during WWII with the renowned Tuskegee Airmen (1944). Students Marguerite Little and Jeanne Cress hold a poster promoting “scrapping” as part of the war effort (1943).
Students learn through firsthand observation in a Botany Laboratory at the Eastern Illinois State Teachers College (date unknown).
President Quincy V. Doudna discussing aerial view of campus with students (1956).
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BUILDING LEGACIES
GIVING IS A GIFT FROM THE HEART SHARON AND RICHARD LEDUC REFLECT ON A LIFETIME OF GIVING TO EIU
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WE’RE PROUD TO SEE SO MANY EASTERN ILLINOIS UNIVERSITY ALUMNI SHARE A LIFELONG BOND AND A DEEP CONNECTION TO THEIR ALMA MATER. BUT WHEN THAT GENUINE LOVE IS SHARED BY EQUALLY EIU-ENTHUSIASTIC SPOUSES, THE MAGIC AND MAGNETISM IS ALL THE MORE SPECIAL. Sharon and Richard LeDuc have shared their connection with EIU—and with each other—for more than 50 years. Both EIU students in the mid ’60s, their affinity for the University—like their
National Climatic Data Center (NCDC) in Asheville as its deputy director. At NCDC, the world’s largest repository of atmospheric data, she managed the operations, worked with world-class scientists in developing climate assessments, and implemented the latest techniques for storing, retrieving, and securing all types of meteorological data. After a long and fulfilling career, she retired in 2011. Today, Sharon and husband Richard have leveraged their success into creating opportunities for others. Their generosity has paved the way for other young learners who, without assistance, may never have had a chance to experience the same joy and excitement the LeDucs felt as students on EIU’s inviting campus. Sharon, herself a 1962 recipient of the Livingston C. Lord Scholarship—the highest honor bestowed upon undergraduates at Eastern—knows the importance of financial support. Her
relationship—has only blossomed with time.
father started at EIU but lacked the finances to finish.
Richard (’64) and Sharon (’65) both earned degrees from Eastern.
“We wouldn’t have made it through without financial help
Like so many others, their time at EIU prepared them for a life ripe with of opportunity, rewarded by success, and resonant with
along the way,” Sharon said. “We were fortunate to receive scholarships, and we know that today a quality education isn’t
compassion.
always affordable. We want the next generation to have the
“We loved our time at Eastern,” Sharon shared. “Basketball
level possible. Education is absolutely essential!”
games were huge when we were there,” she said. At the time, women’s sports were limited to non-competitive travel teams, which Sharon participated in. Still, her passion for sport also led
opportunity and ability to contribute to society at the highest
The LeDucs, whose successes allowed them to save money for sending their own three sons to college, knew full-well that
her to become student leader of a synchronized swimming team.
not everyone shared their fortunate position. That’s why they
“Of course, concerts and other campus events were extremely
a leg up to the people who really need it the most.”
exciting, too. At that time, EIU only had about 4,000 students,
decided to make a commitment to—as Sharon described—“give
and the smaller campus made everything extremely accessible.”
When asked what they would share with other donors about the
Following their time at EIU, the duo took up residence in
profoundly pragmatic advice:
Missouri, where they attended the state’s flagship university. Sharon, who had earned her EIU degree in math/math education with a double minor in physics and chemistry, ultimately earned a Ph.D. in statistics from the University of Missouri, where she also later served as a research associate. Her research focused on climate impacts on crop production and agricultural health. Eventually her team was able to start a federal research center which was part of NOAA, or the National Oceanic and Atmospheric Administration. Later, she joined the Atmospheric Research and Exposure Assessment Laboratory in Research Triangle Park, North Carolina, working for the Environmental Protection Agency. In 2001, Sharon, who also taught as an adjunct at various universities in North Carolina, joined the
importance of leaving a legacy and giving back, they offer some
“WE’VE NEVER BEEN EXCEPTIONALLY WEALTHY, BUT EVEN SMALL OR INFREQUENT GIFTS ADD UP OVER TIME AND CAN BE VERY SUBSTANTIAL FOR THOSE STARTING WITH NOTHING.” “It’s not the amount, it’s the fact that you’re giving that makes the biggest difference,” Sharon revealed. “It may seem cliché, but giving allows us all to become better people, including those we’re committed to helping. For us, giving is in our hearts, and gives us a feeling of being part of the greater good. We want others to experience that feeling, and to be able to enjoy it like we have.”
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THANK YOU FOR YOUR SUPPORT
YOUR DONATIONS MAKE A DIFFERENCE IN THE LIVES OF OUR STUDENTS. THANK YOU TO OUR DONORS FOR YOUR WONDERFUL CONTRIBUTIONS.
This scholarship is such a blessing to me because I now have extra funding that will allow me to pay for room and board without draining my bank account. ADDISON BAYER Recipient of the Marilyn Joy Coles Music Study Abroad Scholarship
Eastern Illinois University makes an extraordinary investment in the care and support of each and every individual student. You play an integral part in that process. Your support provides much needed assistance to make education both accessible and affordable for many EIU students. It is this freedom from the worry of debt that will provide the confidence needed to better excel in school and beyond.
As the first in my family to attend college it is an honor to be given the scholarship to help me and my parents.
AMANDA DASILVA Recipient of the Wesley J. Vala Student Athlete Scholarship
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Amazing people like you enable students to attend EIU and give them a chance to focus on their studies.
Receiving this scholarship will be life changing. It will enable me to pay for schooling and living costs.
I am incredibly thankful to have been chosen to receive this award. Thank you so much for the honor.
MARIE KOCH Recipient of the J.W. and Marilyn Oglesby Scholarship
JAMIE MARCOS Recipient of the Dr. Bill & Lill Thiel Kinesiology & Sports Studies Scholarship
DAVID FRYE Recipient of the Vincent P. & Pamela R. Gutowski Scholarship
You are helping to change people’s lives for the better and there is no better feeling than making a difference in someone else’s life.
I am extremely thankful for this award and cannot express enough how much this means to me!
I cannot thank the Burke Family enough for believing in me and providing me with this scholarship to help my family and I financially.
JAMIE SANDSCHAFER Recipient of the Randall M. Kob Scholarship
LY’JERRICK WARD Recipient of the Lella Cox Schaaf College Student Affairs Fund
MEGAN BURTON Recipient of the Burke Family Scholarship
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E I U F O U N D AT I O N B O A R D O F D I R E C T O R S
MESSAGE FROM THE NEW EIU FOUNDATION PRESIDENT Susan Young, President Eastern Illinois University Foundation Board of Directors 2020-2021
2020 will be recorded in history as the year of the
experience available is essential. The EIUF Board of
COVID-19 pandemic.
Directors is committed to working collaboratively with faculty and staff in the most effective utilization of donor
This pandemic has not only impacted the physical health of
resources within our campus community. The Board
our communities but has also tested our adaptability and
also engages in strategic discussions and planning that
ingenuity. The importance of higher education to promote
maximizes the impact of the Foundation resources in
critical thinking is more important than ever. The dedicated
perpetuity.
faculty and staff at Eastern Illinois University worked collaboratively and diligently to create a platform to allow our faculty and staff to continue providing educational
In fiscal year 2019, the Foundation provided 775
scholarships totaling $1.2 million and grants of $2.6
instruction and experiences to the students of EIU through
million in support of the university’s academic programs,
online interactive technology. Eastern transforms lives
student development experiences, and other initiatives.
every day through education and opportunities to prepare
Total foundation assets of $95 million (as of 7/1/19)
its students for successful and rewarding careers while
generated the financial return to support the enriching
building character and instilling a sense of responsibility
educational experiences. These generous donor-inspired
for our greater communities and world.
and funded scholarships and programs, along with enrollment growth, expanded university programming,
The Eastern Illinois University Foundation’s mission is to
and the spirit of continuous educational quality
assist, support, and enhance the university’s educational
enhancement at EIU is a source of pride and inspiration for
and cultural programs through the encouragement and
everyone in our university community.
management of philanthropic gifts. The annual financial support for current students through scholarships and enhanced university programing creates future professionals with endless ability to be impactful in their careers and service to their communities. The EIU education that we all value and support will maximize their
AS A FIRST-GENERATION COLLEGE GRADUATE, MY EDUCATION FROM EIU PREPARED ME WELL FOR A SUCCESSFUL AND CHALLENGING CAREER.
professional abilities and enrich the lives of themselves,
I have been honored to provide service back to Eastern
family members and community members forever.
Illinois University as a member of the Eastern Illinois University Foundation Board of Directors. On behalf of
As we navigate through this pandemic, the ability to
my fellow board members, I encourage you to support
provide a quality college experience may be more
EIU so that it may continue its long-standing tradition
challenging but its value is more important than ever.
as a premier comprehensive university where personal
A better understanding of fiscal resources, personnel
connections with faculty and staff support and promote
support, and sacrifices required to make the college
EIU students’ academic success.
M A K E A N O N L I N E G I F T T O D AY AT E I U . E D U / G I V I N G . P H P.
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eiu.edu/found
EASTERN ILLINOIS UNIVERSITY FOUNDATION Founded in 1953 under the leadership and direction of H. Ogden Brainard, the Eastern Illinois
University Foundation has, since its inception, been dependent upon the generosity of its members to encourage and provide private support to the University, and to promote the ideals of volunteerism and philanthropy among alumni, friends and employees of the University.
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E I U F O U N D AT I O N B O A R D O F D I R E C T O R S
BOARD WELCOMES NEW MEMBERS AND PRESIDENT Two Eastern Illinois University alumni have recently been added to
(Secretary) of Ballwin, MO; Dennis Grannan, of Chicago, IL; William
the EIU Foundation’s Board of Directors—Kelvin Lane, of Buffalo
Hill, of Charleston, IL and Rick Ingram, of Chicago, IL.
Grove, IL and Elmer Pullen, of Brookport, IL. They join six returning board members and the Foundation’s newest President, Susan
The board governs the EIU Foundation, an independent nonprofit
Young, of Mahomet, IL.
organization that provides EIU alumni, friends and advocates
Young will serve alongside Jill Nilsen (Vice President) of Charleston,
EIU Foundation administers gifts in support of Eastern Illinois
Gordon Grado (Treasurer) of Scottsdale, AZ; Dawn Johnson
University’s academic mission.
a means to invest in the University. Established in 1953, the
MS. SUSAN YOUNG, PRESIDENT MAHOMET, ILLINOIS
Young graduated from EIU in 1984 with a Bachelor of Science degree in accounting and a Master of Science degree in taxation in 1990 from DePaul University. Young serves as Executive Senior Associate Director of Athletics/Chief Financial Officer in the University of Illinois’ Division of Intercollegiate Athletics, where she’s worked for more than ten years. In her role, she oversees the annual financial operations, capital project funding, and human resources for the division. Additional areas under Young’s supervision include the State Farm Center, Orange and Blue Golf Course, Atkins Tennis Center, and IT services. Before her tenure with U of I, she spent nearly six years as Senior Vice President and Chief Operating Officer of First Mid-Illinois Bank & Trust Wealth Management Division in Mattoon. She is an accomplished executive with more than 30 years of tax, financial planning, and investment advisory experience for several firms, including Ernst & Young, Fel-Pro Incorporated, and KKP Group. Young has been very involved in the Eastern Illinois University Alumni Association, serving as president in 2004-05 and as a board member from 2001 to 2010.
DR. JILL NILSEN, VICE PRESIDENT CHARLESTON, ILLINOIS
Nilsen graduated from EIU in 1974 with a Bachelor of Science degree in speech pathology and audiology and a Master’s of Science degree in 1975. Nilsen was an EIU faculty member, Department Chair, Associate Dean of the Graduate School, and Vice President of External Relations before her retirement. Her contributions to EIU have been and continue to be extensive. During her time as Vice President, Nilsen restructured the EIU Development efforts so every college was an integral partner in EIU’s Development activities. She also created an endowment in the Department of Communication Disorders and Sciences that provides funding for graduate student research presentations. Nilsen was recipient of the 2015 Outstanding Philanthropist award. She is an EIU Alumni Association Distinguished Alumna and a recipient of the Louis V. Hencken Service Award. She also serves as a member of the College of Education and Professional Studies Philanthropy Board. Nilsen was formerly President of the CASA of East Central Illinois Board of Directors, and her service in other local agencies includes the Boards of the Sarah Bush Lincoln Health Systems, the Coalition Against Domestic Violence, CCAR Industries, and the Charleston Zoning Board. She served as a member of the EIU Presidential Search Committee as well as President of the EIU Annuitant Association and President of the Charleston Area Chamber of Commerce.
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DR. GORDON GRADO, TREASURER SCOTTSDALE, ARIZONA
Grado graduated from EIU in 1974 with a Bachelor of Science degree in zoology. In 2006, he was named the Distinguished Alumnus by the EIU Alumni Association, and in 2013 he also was awarded an honorary Doctor of Science from Eastern Illinois University. Grado is the founder and Medical Director of Southwest Oncology Centers based in Scottsdale, with four other oncology centers throughout Arizona and with two affiliated centers each in Mexico and Latin America. Before his private practice, he established and chaired the radiation therapy program at Mayo Clinic, Scottsdale and was the Wurtele Professor of Therapeutic Radiology and Oncology at the University of Minnesota, where he developed the prostate brachytherapy program. Grado also served on the board of Adelante Healthcare, which began as a program to provide health care to farmworkers and now offers affordable healthcare throughout Maricopa County. He continues to provide support to St. Vincent DePaul and their clinics in Arizona. In June 2000, Arizona’s Governor named him as a member of the Arizona Prostate Cancer Task Force. He has worked at EIU, lecturing health science students and developing a mentoring program for pre-medical students interested in studying at his Arizona Southwest Oncology Centers, where they work as interns and on research projects.
MS. DAWN JOHNSON, SECRETARY BALLWIN, MISSOURI
Dawn graduated from EIU in 1983 with a Bachelor of Arts in journalism. She is a litigation lawyer at Greensfelder, Hemker, and Gale, PC. – St. Louis, Missouri. As head of the firm’s Franchising and Distribution Industry Group, Dawn leads a team of transactional and litigation attorneys who represent clients nationally and internationally. Her practice focuses on all aspects of the dealer, distributor and franchisee relationship, including termination and non-renewal, claims under state and federal relationship laws and claims such as breach of contract, fraud, tortious interference, antitrust pricing, and trademark infringement. Dawn has significant appellate experience and is co-leader of the appellate practice within the firm. She handles appeals and works closely with other trial lawyers in the firm to ensure that issues are properly preserved for appeal. Dawn has argued before the Missouri Supreme Court and the Missouri Court of Appeals, Eastern and Western Districts, the Illinois Court of Appeals and the U.S. Court of Appeals for the Eighth Circuit. Before attending law school, she was an award-winning reporter for the Herald & Review daily newspaper in Decatur, Illinois. After graduating from Washington University School of Law, she continued her writing experience as a law clerk to U.S. Magistrate Judge David D. Noce in the U.S. District Court, Eastern District of Missouri, from 1993 to 1997. She is active within her community, having served on the Board of Directors for Safe Connections from 2015 to the present; College Summit Missouri Site Advisory Board, 2012-present, Chair, 2015-present; Gateway Legal Services, Inc., Board of Directors, 2008 to the present; and the Bar Association of Metropolitan St. Louis, Board of Governors, 2002-2004.
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E I U F O U N D AT I O N B O A R D O F D I R E C T O R S
MR. DENNIS GRANNAN CHICAGO, ILLINOIS
Grannan received a Bachelor of Science in Business degree from EIU with a double major in accounting and philosophy. His continued involvement with the University includes membership on the EIU Alumni Board and serving as secretary of the Lambda Chi Alpha Alumni Board. In 2016, he received the Lambda Chi Alpha Order of Merit award for his ongoing support of the chapter. After college, he worked as an accountant for Aon Insurance Company in the Reinsurance and Financial Statements Department. In 1989, he left Aon Insurance to pursue a career as a trader on the Chicago Board of Trade. Grannan received his brokerage license and proceeded to trade on his account. He sold his seat in 1993 to manage and operate two family businesses in Chicago, Villari Florist, and J&P Delivery until they sold in 2000 and 2009. Grannan is a commercial investor and owns and manages both commercial and private real estate properties.
DR. WILLIAM HILL CHARLESTON, ILLINOIS
Hill began his education by earning a Bachelor of Arts degree in education from Kentucky Wesleyan College. He went on to earn his Master of Science degree in school administration from Indiana State University, as well as a Ph.D. in education from Southern Illinois University. Hill served 27 years as a School District Superintendent, 18 of which with the Charleston School District. He dedicated 31 years to school administration within the public schools of Illinois, 13 years as an adjunct professor at Eastern, and four years as a State of Illinois Regional Vocational Director. He currently serves on the Sarah Bush Lincoln Foundation Board as a director of the Distance Learning Grant for Illinois Telephone Association and the Regional Board of School Trustees. Hill was twice appointed to the Illinois State Board of Education by former Governor and EIU alumnus Jim Edgar. He served six years on the State Board of Education. He was a member of the Illinois Association of School Administrators Board of Directors and served as Board President. Additional professional memberships include the Retired Teachers Association of Illinois and the State Universities Annuitants Association. He also served as a President of the Charleston Chamber of Commerce Board of Directors and received an appointment with CASA. Hill was a member of the Board of Directors for the Lake Land Community College Foundation.
MR. RICK INGRAM CHICAGO, ILLINOIS
Ingram graduated with honors from Eastern in 1978 with a Bachelor of Arts in political science. He went on to earn a Juris Doctorate from the University of Tennessee in 1981. Ingram is General Counsel and Chief Legal Officer for Chicago Parking Meters, LLC and AMI Group, LLC in Chicago. He formerly was a partner at Shefsky & Froelich Ltd. and has experience in a range of real estate, corporate and infrastructure matters, including acquisition and disposition of significant commercial properties, negotiation of governmental incentives, and facilitation of multi-level public/private initiatives and partnerships. Ingram also has extensive experience counseling clients on issues relating to the management of significant commercial properties. His charitable, public service and community activities have included president of the Lakeview Action Coalition, as well as a member of the Coles County Board, Coles County Regional Planning Commission, and Hawthorne Academy Local School Council, and he mentored with the Gay and Lesbian Bar Association of Chicago. He was named a Leading Lawyer—the top 5% of Illinois lawyers who are selected by his peers.
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DR. KELVIN LANE BUFFALO GROVE, ILLINOIS
Lane graduated from EIU in 1979 with a Bachelor of Science in technology education. He was initiated into Alpha Phi Alpha Fraternity Incorporated while at EIU in the Spring of 1977. In 1988 he obtained a Master of Arts in computer teacher education from Governor State University. He graduated from Roosevelt University in 1993 with a Master of Arts in administration and supervision. He obtained his Doctorate from Loyola University in curriculum and instruction. He started his career in Education teaching industrial arts and then later computer technology in Wheeling, Illinois until 1993. Much of his career was dedicated to high school administration. His most recent role was the Coordinator of Student Discipline for the second largest School District in Illinois, Elgin U46, in 2009 until retirement in 2014. Lane has dedicated his career to helping students reach their full potential regardless of learning style in a safe and nurturing environment. He continues to consult with school districts, focusing on student life and discipline.
MR. ELMER PULLEN BROOKPORT, ILLINOIS
Pullen is a 1970 graduate of EIU with a Bachelor of Science in sociology and a Master of Science in education in 1973. He served as a financial aid counselor at EIU for more than 30 years. Pullen has volunteered on numerous non-profit and university committees. Selected in 1978 as “Big Brother of the Year” by the Big Brothers Big Sisters of Coles County Organization, he also served on the Big Brother organization’s Board of Directors. Pullen was chosen as “Boss of the Year” by Eastern’s Office Staff Support Group in 1989. He was a member of the Charleston Rotary Club and served on the Board of Directors of the Central East Alcohol and Drug Council. Since retiring to Brookport, IL, Pullen has continued to serve the local and regional community on several committees and boards. He is a veteran of the US Army.
MS. CINDRA STIFF PHILPOT, KENTUCKY
Stiff earned a Bachelor of Science degree in business with an accounting emphasis from EIU in 1979. She went on to earn an Master of Business Administration from Murray State University (KY) in 1988. She recently retired from the position of Vice President of Finance at Kentucky Wesleyan College in Owensboro, KY. She also served as an adjunct instructor in the Introduction to Business & Women Leadership courses. She began her career as an accountant for EIU and then went on to hold the position of controller at the Presbyterian College in Clinton, SC. Stiff’s professional appointments include serving as past chair of the Small College Committee of Southern Association of Colleges and University Business Officers and the Board and Finance Committee for Hospice of Western Kentucky. She also was a member of the boards for the Daviess County Kentucky Library and Boulware Homeless Center.
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F I N A N C I A L S : W H AT I T A L L M E A N S
Students unpacking their belongings at that start of the academic year. Pemberton Hall is in the background (date unknown).
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EIUF FINANCIAL REPORT THE FOLLOWING REPORT DETAILS THE MOST CURRENT AUDITED STATEMENTS DATED JUNE 30, 2019. The EIU Foundation operations budget is underwritten by
the preliminary statement shows net assets of approximately
a distribution from the Brainard Trust, administrative fees
$100,855,000 as of July 1, 2020. The EIU Foundation provided
generated on investments, farm management fees, and earnings
$1,189,969 in scholarships and $2,657,123 in grants to EIU in
from endowment funds restricted for Foundation operations.
FY 2019.
Specifically, an administrative fee of 1.25% is assessed on trusts administered by the Foundation, with a fee of .75% on Foundation
Foundation investments are overseen by the Foundation’s
investments and 4.75% of gross income on the farms. Collectively,
Investment Committee and the Board of Directors. Allocation
these sources provided $662,505.00 in revenue to support the
recommendations are presented by the Foundation’s investment
Foundation’s operations in FY19.
consultants, Fund Evaluation Group (FEG), and approved by the Board’s Investment Committee before submission to the full
The Foundation has contained operational costs through a
board. The Foundation remains focused on achieving investment
conservative, long-term approach to the budgeting process. As
performance that exceeds the approved spending rate of 5% from
a result, the Foundation has maintained a stable reserve of funds
endowed funds. FEG, based in Cincinnati, Ohio, has been the
and was able to deploy some of these reserves in support of
Foundation’s investment advisor since May 2018.
University priorities identified by the EIU administration the past four fiscal years. The most current audited statements from FY 19 are presented as part of this annual report. You can also review a copy of the Foundation’s annual federal tax filing, commonly referenced as Form 990. The total net assets for EIUF were $95,698,366 on July 1, 2019. While the FY 20 statements are being finalized,
IMPORTANT FINANCIAL DOCUMENT LINKS The following documents are available for review: EIUF FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR’S REPORT FORM 990 (RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX)
EIUF CHIEF OPERATING OFFICER’S BIOGRAPHY Jonathan McKenzie began serving his alma mater in 2004 as an Assistant Director in the Alumni Services Office before joining the senior staff of the Dean of the Lumpkin College of Business and Technology. McKenzie presently serves as the Chief Operating Officer of the EIU Foundation. He holds bachelor’s and master’s degrees from Eastern Illinois University having graduated in 1999 and 2001 respectively.
JONATHAN MCKENZIE, EIUF CHIEF OPERATING OFFICER
EIUF ASSISTANT TREASURER’S BIOGRAPHY Paul McCann has served as the Interim Vice President for Business Affairs at EIU since December 2008. Previously, he served Eastern as director of business services/treasurer beginning in June 2006. He received his bachelor’s degree in business administration and accounting from Augustana College in Rock Island. In addition to his work at Murphey, Jenne and Jones (now known as Peat Marwick), McCann has served as a partner with the accounting firm of Doehring Winders and Co., LLP, and as chief financial officer with Behnke and Co., Inc., a Decatur insurance firm. PAUL McCANN, EIUF ASSISTANT TREASURER
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F I N A N C I A L S : W H AT I T A L L M E A N S
EIUF ENDOWMENT PERFORMANCE REPORT
THE FOLLOWING INFORMATION OUTLINES INVESTMENT PERFORMANCE WITHIN THE EIUF ENDOWMENT FOR THE PERIOD JULY 1, 2019 TO JUNE 30, 2020. In today’s complex investment landscape, institutions face unique challenges. The mission at Fund Evaluation Group (FEG) is to empower clients to fulfill their missions through superior investment performance, objective insights, and research. FEG is an independent, employee-owned, full-service investment advisory firm with more than 30 years of stability and growth. FEG is headquartered in Cincinnati, Ohio. DAVID CENTER, CFA FUND EVALUATION GROUP SENIOR VICE PRESIDENT CONSULTANT
FEG was contracted by the EIU Foundation to serve as investment advisor beginning May 2018. The EIU Foundation Investment Committee and Board of Directors review and approve investment
recommendations presented by FEG and monitor the firm’s performance relative to EIUF’s investment policy and objectives. The EIUF Board also conducts an on-site due diligence visit as part of our commitment to steward the generous support of EIUF’s many donors and friends.
FEG REPRESENTATIVE BIOGRAPHY David Center is Senior Vice President and a consultant at FEG. He has almost 20 years of experience helping non-profit educational institutions with allocation and policy work, governance and education, as well as manager search and selection. Prior to FEG, Center served as a consultant with Cardinal Investment Advisors, New Leaf Capital Consulting, and Hammond Associates. David received an MSIA (MBA) in Finance & Strategy from Carnegie Mellon University, and holds a bachelor of science in electrical engineering from Lehigh University. David has served on the Board of Directors of the CFA Society of St. Louis, as the President of the CFA Society of Louisiana (formerly FANO), and as the President of the Greater New Orleans Council of Campfire. David currently resides in Cincinnati, Ohio with his wife and two children.
EIUF ASSET ALLOCATION EIUF’s portfolio is diversified by global risk factors such as global equity, global fixed income, real assets, and diversifying strategies.
GLOBAL EQUITY Stocks, Private Equity, Long/Short Hedge Funds
Bonds, Bank Loans, Credit Hedge Funds
REAL ASSETS Real Estate, Natural Resources, Infrastructure
DIVERSIFYING STRATEGIES Event Driven, Relative Value, Macro
63.8%
15.3%
9.0%
11.8%
ROLE/RISK
ROLE/RISK
ROLE/RISK
ROLE/RISK
Total Return
Equity Risk Mitigation and Total Return
Inflation Protection and Total Return
Diversification and Total Return
Rising Rates and/or Credit Downgrades
Deflation
Poor Manager Execution
WEIGHT
Stock Market Declines
20
GLOBAL FIXED INCOME AND CREDIT
2020 EIU FOUNDATION REPORT
WEIGHT
WEIGHT
WEIGHT
7.4 6.9
EIUF TOTAL PORTFOLIO PERFORMANCE Returned 1.5% for the fiscal year 2020, 20bps higher than the Policy Index. •
EIUF has a diversified, “all-weather” portfolio which has achieved its primary objective over the past ten years. This despite a market that has
6.7
6.7
5.8
ANNUAL RETURN (%)
•
6.9
heavily favored U.S. equity since the
4.5
4.2
1.5
4.7
4.4
1.1
global financial crisis ended in 2009. 1 Yr
3 Yr POLICY INDEX
EIUF
EIUF COMPOSITE PERFORMANCE
10 Yr
PRIMARY OBJECTIVE (CPI + 5%)
GLOBAL FIXED INCOME
REAL ASSETS
DIVERSIFYING STRATEGIES
EIUF’s portfolio is diversified by global risk factors such as global equity, global fixed income, real assets, and diversifying strategies.
•
GLOBAL EQUITY
In a year of significant transition, but for diversifying strategies, the EIUF composites lagged their respective benchmarks.
ANNUAL RETURN (%)
•
5 Yr
8.7
8.3 5.3
2.1
-0.2
-0.3
-8.5
EIUF
EIUF PRIVATE CAPITAL PERFORMANCE •
TOTAL PRIVATE CAPITAL
EIUF has about 8.6% of its portfolio allocated to
PRIVATE EQUITY
9.1
7.3
Due to the availability of private capital data, the IRR data in this section is provided based upon the
RETURN (%)
Private capital has added approximately 4.9% in return over the public markets.
PRIVATE NATURAL RESOURCES
8.8
with almost ~75% of it in private equity.
•
PRIVATE DEBT
10.2
private capital across equity, debt, and real assets •
-29.4
POLICY INDEX
4.1
4.5
most recently available period (3/31/2019). •
Illiquidity Premium (%) — 4.9%
•
Illiquidity Premium ($s) — $1,207,665 EIUF
PUBLIC MARKET EQUIVALENT (%)
-4.5
-3.7
2020 EIU FOUNDATION REPORT
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F I N A N C I A L S : W H AT I T A L L M E A N S
EVALUATING THE PORTFOLIO FROM A HIGH LEVEL EIUF has not achieved its primary objective (spending + inflation) over the trailing 7, 3, and 1-year periods, almost entirely because of the March 2020 drawdown. With a 10-year return of 6.9%, and a current spending rate of 5%, it can be argued that EIUF has achieved its primary objective over 10 years. Prior to Q1-2020, EIUF had achieved its primary objective over the trailing 10, 7, 3, and 1-year trailing periods. The COVID-19 crisis and OPEC spat between Saudi Arabia and Russia caused meaningful drawdowns. GLOBAL EQUITY COMPOSITE
REAL ASSETS
• Returned -0.2% for the trailing 1-year period.
• Returned -8.5% for the trailing 1-year period.
• Mixed performance among active managers with growth biased
• Multi-asset manager roughly flat over past year while the
and hedged equity managers winning.
dedicated MLP manager drew down significantly.
• Value / structured managers continue to underperform growth DIVERSIFYING STRATEGIES
meaningfully.
• Returned +5.3% for the trailing 1-year period outperforming its GLOBAL FIXED INCOME
index by 250bps. Preserved capital well.
• Returned +8.7% for the trailing 1-year period slightly PRIVATE CAPITAL
underperforming the BB Aggregate Index (+8.9%). • 3Q decision to reduce duration lagged Agg by 90bp in Q1, but
• Private capital is adding about 5.0% over the public markets vs.
still generated positive returns (+2.2%).
expectations of 3% or more with natural resources being the
• Flexible positioning and reduction in interest rate risk are
largest drag and private equity being the largest contributor
conservative stance, funding source for future.
(+10.2%)
• Opportunistic allocations to high yield and distressed debt should add value going forward.
EIUF SUMMARY PERFORMANCE AND RISK (6/30/2020) It is critical to understand returns in the context of the risk taken. EIUF’s total portfolio risk is about 60% of the risk in global equity. --- RISK ----- ANNUALIZED ---
RELATIVE RISK BETA
JUL-98 3 MOS YTD
TOTAL FUND
1 YR
3 YR
5 YR
7 YR
10 YR
4.5 6.9
4.7 6.7
6.1 6.5
7.4 6.7
6.9 7.1
BROAD POLICY (70%/30)
13.3
-1.6
4.9
6.2
6.0
6.7
7.5
5.5
17.4 19.2
-7.0 -6.3
-0.2 2.1
4.7 6.1
5.5 6.5
7.1 7.8
9.0 9.2
-
$48,151,706
0.9
13.8
21.1
-8.2
-1.6
3.8
4.8
6.5
8.7
-
$39,331,481
1.0
15.8
19.2
-6.3
2.1
6.1
6.5
7.8
9.2
-
3.3
6.0
8.7
5.3
3.7
3.7
4.4
-
$5,176,190 $11,539,796
N/A 0.0
N/A 2.9
BARCLAYS U.S. AGGREGATE BOND INDEX 2.9
6.1
8.7
5.3
4.3
4.0
3.8
14.2
-8.5
-8.5
-2.6
-0.7
-1.9
0.9
-
$2,592,168
-
$6,766,553
N/A 13.9
5.1 50.2
-19.4 -35.7
-17.4 -41.4
-6.1 -16.8
-7.7 -12.9
-8.1 -9.7
-5.8 -1.4
-
$6,196,076
N/A 0.8
9.6
2.8
5.3
4.9
3.8
4.7
5.2
-
$570,477 $8,898,322
N/A 0.3
N/A 5.3
5.7
-1.9
-0.3
1.9
1.5
2.4
2.6
-
2.5
5.2
8.3
5.1
3.5
3.2
3.9
PRIVATE CREDIT REAL ASSETS COMPOSITE PUBLIC REAL ASSETS BLOOMBERG COMMODITY INDEX ALERIAN MLP INDEX PRIVATE REAL ASSETS DIVERSIFYING STRATEGIES HFRI FOF: CONSERVATIVE INDEX CASH 1
9.8
1.1 5.8
PUBLIC INTEREST RATE SENSITIVE
15.4
8.8
-8.4
-2.1
-0.4
-1.7
1.0
5.6%
0.6
-4.1 2.0
MSCI ACWI WORLD INDEX PRIVATE EQUITY GLOBAL FIXED INCOME COMPOSITE
6.9%
$74,436,873
-3.5%
PUBLIC EQUITY
5.4%
(5 YR. ST. DEV.)
12.2 0.9
GLOBAL EQUITY COMPOSITE MSCI ACWI WORLD INDEX
4.4%
(5 YR. BETA)
MARKET VALUE
13.9%
3
4.2%
ABSOLUTE RISK VOLATILITY
POLICY INDEX PRIMARY OBJECTIVE (CPI + 5%)
2
1.5%
INCEPTION
1
-
-
$8,947,628
0.0
0.9
3.1
14.8
$80,496
Beta calculation is relative to MSCI ACWI Index.
Policy Index is currently comprised of: 5.0% PIMCO Inflation Response Multi Asset Index, 6.5% Thomson One All Private Equity Index, 1.0% Thomson One Mezzanine Index, 23.0% Russell 3000 Index, 16.0% MSCI EAFE Index, 9.0% MSCI Emerging Markets Index, 13.0% Bloomberg Barclays US Aggregate Index, 2.0% Alerian MLP Index, 22.0% HFRI FOF: Conservative Index, and 2.5% HFRI FOF: Strategic Index. Please see Appendix for benchmark history. 2
3
22
Broad Policy Index is comprised of: 70.0% MSCI AC World Index and 30.0% Bloomberg Barclays US Aggregate Index.
2020 EIU FOUNDATION REPORT
MISSION STATEMENT The Eastern Illinois University Foundation exists for the following purposes: To encourage and provide private support to Eastern Illinois University, including the region which the University serves, and to promote the ideals of volunteerism and philanthropy among alumni, friends and employees of the University;
To assist and support Eastern Illinois University’s educational and cultural mission through encouraging philanthropic gifts of cash, property and other materials of educational and artistic value; and
To enhance the educational activities of Eastern Illinois University students and employees
by participating in and supporting academic and artistic programming through scholarships and grants.
Students attending chapel services in an Old Main auditorium (1912). President Livingston Lord is seated behind the podium. Attendance was mandatory form 1899-1933.
2020 EIU FOUNDATION REPORT
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Students and faculty walking past the McAfee Gymansium between classes in the late 1950s (date unknown).
EASTERN ILLINOIS UNIVERSITY FOUNDATION NEAL WELCOME CENTER 860 W. LINCOLN AVENUE CHARLESTON, IL 61920-2405 (217) 581-3313
