The President’s Report on Philanthropy and Endowments 2011–2012
Cody Goddard
Message from the President
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Message from the Campaign Chair
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Ensuring Student Opportunity
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Enhancing Honors Education
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Building Faculty Strength & Capacity
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Fostering Discovery & Creativity
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Sustaining a Tradition of Quality
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Concepts in Philanthropy
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Philanthropy Awards & Honors
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Endowment Overview
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University Budget Summaries
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Campaign Executive Committee
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Matthew Bellingeri
Enriching the Student Experience
Cover photo: Tina Hay/The Penn Stater magazine
MESSAgE fROM THE PRESIdENT
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s this edition of The President’s Report on Philanthropy and Endowments goes to press, it is almost a year since I took office in the midst of the worst crisis in the history of our University. Throughout the challenges and consequences of the past year, Penn State has remained a leader in higher education, and the loyalty of Penn State’s alumni and friends has endured. I’m deeply grateful to report that through their philanthropy, our supporters continue to express their faith in the future of the University and our students. More than 191,000 alumni and friends made over 323,000 gifts to Penn State over the past year—both recordbreaking numbers. In part, these figures reflect the extraordinary success of THON, and our students’ commitment and generosity continue to inspire Penn Staters everywhere, raising nearly $11 million this year for pediatric cancer research and care. These results also reflect our supporters’ belief that philanthropy is the best way to move our institution forward. The $208.7 million received this past year—the second-highest figure in our history—will help Penn State to represent educational opportunity in the future, just as it has in the past. Since For the Future: The Campaign for Penn State Students began, alumni and friends have given more than $335 million for scholarships, the campaign’s top priority, and this past year saw the creation of more than 120 new scholarship endowments. As academic rankings, corporate recruiters, and application figures confirm that a Penn State degree has lost none of its value, the generosity of our supporters is ensuring that students from every background can continue to choose our University. Through both the numbers and the stories you’ll find in this report, you can learn about private giving’s impact across Penn State: on the accomplishments of our faculty, the strength of our programs, the breadth of our outreach to the Commonwealth and the nation. In the months and years to come, the support of our alumni and friends will help to refocus public attention on these achievements and our core missions of education, research, and service. There is still much hard work ahead, for the campaign and our institution, but with the continuing commitment of our donors, we can affirm the Penn State community’s belief—and the belief of the world—in our institution. Thank you for all you have done to support the University through these challenging times, and thank you for being a part of our bright future. Sincerely,
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The President’s Report on Philanthropy and Endowments
Cody Goddard
Rodney A. Erickson, President The Pennsylvania State University
2011–12
MESSAgE fROM THE CAMPAIgN CHAIR
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uring the past year, as the eyes of the nation were turned upon the University, so many Penn Staters took a hard look inward as well—and found that despite challenges and changes, our love for Penn State remains undiminished. As chair of For the Future: The Campaign for Penn State Students, I would like to offer my deepest thanks to all of you who have expressed that love through your gifts. Our institution has before it an opportunity to impact not only how the world sees us, but also how we see ourselves. And philanthropy will guide that vision. In this edition of The President’s Report on Philanthropy and Endowments, we are highlighting some of the many ways in which private giving can shape new perspectives. Scholarships (including one from an alumna who didn’t envision herself as a college graduate) and other kinds of support are allowing students to see their own potential for success. Endowed funds and positions are enabling faculty members to see themselves as leaders in their fields. And a gift challenging other donors to create an innovative campus center is helping alumni and friends to lead through their philanthropy. Throughout this report, you’ll also find new looks at familiar landmarks, first looks at facilities like the state-of-the-art Millennium Science Complex and the Huck Life Sciences Building. This summer, the latter was named in honor of alumni J. Lloyd and dorothy foehr Huck, whose generosity helped to establish the Huck Institutes of the Life Sciences at Penn State. The groundbreaking work of the Institutes’ students and faculty, which includes important advancements in fields ranging from diabetes treatment to infectious disease control, is a powerful example of how private giving can change what Penn State represents on the global level. Nothing has been a greater inspiration throughout this campaign, however, than to look at the University through the eyes of our students. They see Penn State as the institution they’ve dreamed about attending, the place where their hopes for the future can be fulfilled. As supporters of the University, we see great promise, too: in the ability and ambition of our students, in the continuing dedication of our faculty and staff, and in the remarkable generosity of our alumni and friends. Thank you.
Sincerely,
Cody Goddard
Peter g. Tombros, Chair For the Future: The Campaign for Penn State Students
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The President’s Report on Philanthropy and Endowments
2011–12
The articles in this report not only tell the stories behind important gifts to the University—they also highlight ideas and approaches that have enabled many donors to fulfill their philanthropic goals. To learn more, please see the Concepts in Philanthropy section, which begins on page 18.
ENSURINg STUdENT OPPORTUNITy
A former scholarship recipient helps to create a more diverse Penn State in Erie,” admits the retired attorney, who now lives in Los Angeles. A guidance counselor pushed her to apply to Penn State, however, and she was enjoying all the fun of freshman year when she received a visit from her father. He wanted to tell her in person that he had lost his job. “The financial aid office kept me from dropping out,” Martha recalls. “I met with a staff member every semester after that, to make
sure that I got all the scholarships and loans which were available to me, and I asked him once why he was doing this for me. He said, ‘I’m doing it for the University, because I know that you are going to repay every penny and then some.’” And he was right. As a volunteer, Martha has chaired the Board of Visitors for the Smeal College of Business, from which she earned a bachelor’s degree in marketing in 1976, and she was a member of the committee that raised support for the college’s new building. She now serves as the chair of the For the Future annual giving efforts and as a member of the campaign’s executive committee. As a donor, she has focused her philanthropy on three scholarships for Smeal students. “At Penn State, I grew into
a person I never expected,” she says. “The University motivated me and gave me ambition. Everybody, regardless of their financial circumstances, should have that experience if they have earned it academically.” Through the Martha Barnhart Jordan Diversity Outreach Scholarship, established in 2007, she is targeting her support to outstanding undergraduates whose ethnic, cultural, or national backgrounds contribute to the diversity of Penn State as a whole. “My mother is Colombian, and she worked full-time to put herself through school,” says Natalie Unger, a recipient of the scholarship and a junior Marketing major who aspires to a career in the fashion industry. “She taught us that education was very important. My sister just graduated from Penn State, and my parents have struggled to pay for two kids in college, especially since the recession started. This scholarship really makes a difference, for me and for them.” Martha’s support is enabling Kalyn flournoy, a junior Marketing major with a double minor in Russian and Media Studies, to serve as president of the Multicul-
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The President’s Report on Philanthropy and Endowments
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Andrew Dunheimer
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s a teenager, Martha Barnhart Jordan wasn’t sure that she even wanted to go to college. “I was perfectly happy working at the burger joint
The community that Kalyn is helping to build at Penn State is the real goal of the scholarship, according to its creator. Martha says, “It’s not just the recipients who benefit from a gift like this. The diversity of Penn State is incredibly important to all our students. It makes you a more effective leader, in business or in any other field, to understand people of different cultural backgrounds. The more diverse your educational environment, the better prepared you are for a diverse world.”
Chloe Elmer
Chloe Elmer
tural Women’s forum and a member of several other diversity organizations. Kalyn says, “Scholarships have allowed me to cut down my hours at my two jobs and focus on being a leader. College has now become a debt sentence, but without education, it’s impossible in today’s world to achieve your dreams. The support I’ve received has meant so much to me that I want to give back, too.”
Martha Barnhart Jordan (opposite), Natalie Unger (above), Kalyn Flournoy (below)
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ENHANCINg HONORS EdUCATION
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ulie Sun Kim used to be embarrassed about her family’s small dry cleaning business in dresher, Pennsylvania, but not anymore. “I speak about it with pride
A new generation of philanthropic leaders steps forward for Schreyer Scholars
Since 2004, when John and Carol Rooney established the need-based endowment for Schreyer Scholars, the Berwyn, Pennsylvania couple has been hearing—and loving—stories like Julie’s. “Whether it’s in person or through a letter, the gratitude of these students comes across with such sincerity,” says John, a member of the Schreyer Honors College advisory
board and a principal at deloitte Consulting LLP. “So many are the first generation in their family to go to college, and they know that through Penn State and the Schreyer Honors College, they are getting a worldclass education at a better value than anywhere else. The Schreyer Scholars are really remarkable students.” The Rooneys’ own experiences as Penn State students converged in their decision to create a Trustee Scholarship for Schreyer Scholars with financial need. John and Carol met through friends in 1986, late in their senior years at Penn State. John eventually proposed to Carol at the top
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now,” says the sophomore Chemistry major and Schreyer Scholar. “When my father came to this country from South Korea, nobody wanted an engineer who couldn’t speak English, but my parents persevered and made nothing into something that feeds me and helps to pay for my
education. I owe them so much, and when we found out that I had received the John and Carol Rooney Trustee Scholarship, their sigh of relief confirmed my decision to come to Penn State and the Schreyer Honors College.”
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The President’s Report on Philanthropy and Endowments
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of Mount Nittany when the couple was making a return visit for Homecoming some six years later. John had grown up in a single-parent household, and he and his mother paid for much of his undergraduate degree in mechanical engineering with savings, loans, and grants. He still remembers how important a scholarship was to his ability to receive an M.B.A. later from the University of Chicago. As an accounting major at Penn State, Carol was a member of the University Scholars program, the predecessor of the Schreyer Honors College. “I made a lot of sacrifices to spend the time in the library that I needed to because academic achievement was very important to me,” she recalls. “Many of today’s honors students are facing even tougher choices. Can they take advantage of all the opportunities that Penn State offers while having to work more and more to pay for the increasing costs of their degrees—if they can even afford it? We want to alleviate that burden to the extent we can and make it easier for them to experience all Penn State has to offer and eventually do great things beyond Penn State. Support for Schreyer
Scholars is an investment in Penn State’s reputation and the future.”
achievements, I couldn’t help but think, well, what can we do to help?”
The Rooneys have also focused their giving in the Schreyer Honors College because, as John says, “it needs philanthropic alumni to step up now. The college has only been in existence since 1997 so it doesn’t have its own large alumni base yet. But when I thought about what an amazing thing Mr. and Mrs. Schreyer did for Penn State in establishing the program, and what these students do for Penn State through their
for Julie Kim, the help she receives from the Rooneys isn’t just financial. “for kids like me, a scholarship tells us that we’re worth something, to the University and to society,” says Julie, who is working with a faculty member on a biochemistry research project and hopes to become a doctor someday. “It says that my family’s hard work is paying off.”
The President’s Report on Philanthropy and Endowments
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Julie Kim (opposite), John and Carol Rooney (above) with children Tori, Cade, and CJ
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ENRICHING THE STUDENT EXPERIENCE
“When we were in college, we were watching every penny—I was a single mother, Diane was the youngest of five kids—and it was hard and scary, but everything was easier because we had each other,” says Jerrilyn Muth-Kern, now a member of the School of Nursing advisory board and a fundraising volunteer. “I hope that through the gifts that our family and Diane’s family have made in her honor, today’s nursing students can feel like they’re not alone, either.” Diane and Jerrilyn earned their degrees from the School of Nursing in 1983, and the friends stayed close even as careers and marriages kept them in different parts of the country. While living in North Carolina with her husband, 1985 engineering graduate Mark Robinson, and their two young children, Diane was diagnosed with breast cancer. Jerrilyn was there when Diane woke up
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from her mastectomy, and she helped to care for her friend after a bone marrow transplant. “One day, when Diane was in the hospital, two student nurses came into the room to change her bed, and Diane and I both started giggling, remembering those days,” recalls Jerrilyn. “And then I went out into the hall and cried. I caught those two students by the arm, and I told them that they weren’t just getting an education. The relationships that you build as a nursing student will give you strength throughout your life.” When Diane died in 1999, Jerrilyn wanted to honor her in a way that would “help students to have the same kind of experiences, create the same kind of friendships, that we did,” she says. With her husband, Jeffrey R. Kern, Jerrilyn began making annual gifts to assist nursing undergraduates with expenses not typically covered by financial aid: professional licensing exam fees, gas money for travel to clinical training sites, expensive textbooks. “Sometimes a small bump in the road can cause a detour,” says Jerrilyn. “Our hope was to make it a little easier for students to enter the profession that Diane loved.”
The President’s Report on Philanthropy and Endowments
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Cody Goddard
Friends and family celebrate a nurse’s commitment to caring
as they completed their clinical rotations at Penn State Milton S. Hershey Medical Center. Today, thirteen years after Diane lost a hard-fought battle with breast cancer, that spirit of mutual support lives on in the Diane Moon Robinson Endowment in the School of Nursing.
Photo courtesy of Mark Robinson
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hirty years ago, nursing students and close friends Diane Moon and Jerrilyn Muth shared books, car rides, even a stethoscope to save money
Maki Photography LLC
Mark Robinson was deeply moved by the generosity and appropriateness of the gifts that Jerrilyn and Jeffrey were making in diane’s honor. “Sometimes you’ll meet a person who embodies a certain calling in life,” says Mark. “I truly believe that diane was a nurse from the time she breathed her first breath until her last. She was always caring for others, always willing to go the extra mile.” Even before diane’s death, the Moon and Robinson families had begun honoring her fight against breast cancer through support for Relay for Life—daughter Laura is now one of the organization’s leading fundraisers in her community—but they
decided to create a legacy for her at Penn State as well. In 2007, Mark, who had remarried, created the diane Moon Robinson Endowment with his wife, Susanna. Like the gifts from Jerrilyn and Jeffrey, its income helps to cover the costs of nursing students’ clinical experience. Last year, support from the fund allowed Rachel Elizabeth Martin, who graduated as an RN this spring, to pay her dues in the Sigma Theta Tau International Honor Society of Nursing. “The nursing program is so rigorous that it leaves little time for a job,” says Rachel, now doing a one-year graduate
The President’s Report on Philanthropy and Endowments
residency on the Heart and Vascular Progressive Care Unit at Hershey Medical Center. “The support from the endowment allowed me to join an organization that not only enhances my résumé but also helps me to grow through unlimited access to innovative research and educational materials. Nursing is an ever-changing, ever-improving field, and I’m thankful to keep learning things that I can apply to direct patient care and daily life.” It’s that kind of dedication her friend both lived and inspired, says Jerrilyn, and it’s that kind of dedication the supporters of the diane Moon Robinson Endow-
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ment want to encourage. “I hope that diane would say, ‘I’m so proud that you thought of me like that,’” Jerrilyn says. “for all of us who knew her, it’s a great way of saying thanks—to diane, for all that she has meant and still means to us, and to the nurses who are working so hard to get an education and care for others, too.”
Jerrilyn Muth-Kern and Mark Robinson (opposite), Diane Moon Robinson (opposite, below), Rachel Elizabeth Martin (above)
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BUILdINg fACULTy STRENgTH & CAPACITy
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hen John Brennan began his career as a nuclear engineer in the late 1960s, he and his colleagues didn’t worry about support for their work. “Our
College of Engineering and an award for outstanding undergraduates in nuclear engineering. And through the John J. and Jean M. Brennan Clean Energy Early Career Professorship, they’re encouraging innovative energy research with an innovative approach to faculty support.
Support for Penn State faculty fuels the future of energy research research was completely funded by the government,” recalls John, who earned a master’s in nuclear engineering at Penn State and went on to become an executive and entrepreneur in the business world. “It was understood that nuclear energy would require a lot of investment to get started. As we think about the future of energy alternatives, we have to understand that they’ll require a lot of investment, too, and this time, it’s going to come from the private sector.”
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Instead of just putting their money into companies or technologies, though, John and his wife, Jean, have decided to invest in people: the future energy industry leaders beginning their careers now at Penn State. The Brennans, who live in yardley, Pennsylvania, have created a Trustee Scholarship for students in the
Dan Z. Johnson
John and Jean Brennan (right), Dr. Michael Janik and Tom Senftle (opposite)
The position, created through Penn State’s faculty Endowment Challenge, provides support for a faculty member in the first decade of his or her career, when it can be hardest to
secure research funding from outside sources. While most such awards are based in a particular department, the Brennans’ Early Career Professorship can rotate every three years to a different faculty member, anywhere in the College of Engineering, whose work is advancing alternatives to fossil fuels. “It’s too early now to pick the winners among the technologies emerging today and the technologies we’re revisiting,” says John. “What we can pick are the young professors who have the ability
The President’s Report on Philanthropy and Endowments
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to motivate students and move their fields forward.” dr. Michael Janik, an associate professor of chemical engineering, is the first faculty member to benefit from the Brennans’ endowment. Collaborating with colleagues in a wide range of fields, dr. Janik uses computational methods to assess, at the level of quantum mechanics, how to make everything from batteries to biomass conversion more efficient and how to remove pollutants such as sulphur from conventional fossil fuels. He has used the resources of the Brennan Clean Energy Early Career Professorship
to equip his laboratory and support both the undergraduate and graduate students getting hands-on experience there. “As a junior faculty member, I wouldn’t normally have the recognition, both within and outside Penn State, that a named position offers, and I wouldn’t have the funding and flexibility that usually come later in your career,” says dr. Janik. “With the Brennans’ support, I have got both. I am able to cover opportunities for my students like professional travel or an extra summer of research, which can really drive their careers.”
The President’s Report on Philanthropy and Endowments
Tom Senftle, a Ph.d. candidate in chemical engineering and a member of dr. Janik’s team, has been able to share the lab’s work at several national conferences thanks to funds from the Brennan Clean Energy Early Career Professorship. “Those networking opportunities are beneficial not only for my own research and career, but also for Penn State,” he says. “By increasing the reputation of dr. Janik’s group, we’re increasing the reputation of the University in the field of clean energy technologies.”
most important renewable resources, and they hope that their gift and others like it will encourage a shift in thinking about the sciences and engineering. “Our country needs to do more to glamorize these fields,” says Jean. “Not everybody can be a professional athlete or a facebook founder. An endowment like ours and a wonderful model like dr. Janik can show students that achievement in research—the kind of research that makes a difference for all of us—will be recognized and respected, too.”
The enthusiasm of students like Tom is, for the Brennans, one of the nation’s
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fOSTERINg dISCOVERy & CREATIVITy
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ne of the most important skills in managing any business is doing more with less, and the department of Management and Organization in the Smeal College
An investment in a top department yields great returns for Penn State students of Business has lived by its own lessons. With just seventeen faculty members, it’s one of the smallest programs of its kind among leading business schools, but it has consistently ranked in the top five for research productivity over the last decade, and it’s guiding nearly 300 undergraduate majors, 200 MBA students, and 15 Ph.d. candidates to careers in industry, government, and academia. “It’s a golden age for us,” says dr. denny gioia, the department chair and the Robert and Judith Klein Professor of Management. “And we’re getting better and better thanks to the Arnolds.” The Department of Management and Organization Excellence Fund, established by John M. Arnold and Kara Hanlon Arnold, provides support for faculty, graduate, and under-
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graduate achievement—and it provides the Harrisburg, Pennsylvania couple with a way to celebrate their family’s legacy. Since 1924, when John’s great-grandfather founded their business, four generations of Arnolds have built it into one of the Commonwealth’s leading energy distributors. The company is known today as Petroleum Products Corp. John himself joined the Harrisburg-based company after earning his M.B.A. from Penn State in 1987—Kara graduated the same year with a bachelor’s degree in communications—but he grew up learning about business from his father, the late John A. Arnold. “Marketing, sales, finance— these things are important, but my father understood that good management underlies all success,” says John, now the company’s chairman and chief operating officer. “Through my involvement with the Smeal Board of Visitors, I knew that the department was very good, and we wanted to solidify that position and accelerate its progress going forward. Whatever Penn State business students choose to do after graduation, they’ll need strong management skills, and Penn State needs
a strong management and organization program.” The Arnolds structured the endowment to give the department as much freedom as possible in meeting its most urgent needs. dr. gioia has used the excellence fund to create a faculty fellowship and undergraduate scholarships, but one of his first decisions was to increase support for graduate students. “you can’t attract top faculty members without top Ph.d. candidates,” he says. “Those mentor-protégé relationships are critical to research, and they influence the quality of education we offer at every level. We were losing our best applicants to schools with more competitive funding packages, but now we’re on an equal footing because of the Arnolds’ endowment.” Shubha Patvardhan has been able to immerse herself in her graduate studies thanks to support from the excellence fund. “you can’t feel ambitious or confident as a new researcher if you’re worried about the day-to-day,” say Shubha, who is starting work on a dissertation about how firms organize for a future that is unknown and, to a large extent, unknowable. “I came to this program from a corporate career in India, where
The President’s Report on Philanthropy and Endowments
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education has played such a significant role in the country’s economic progress in the last few decades that we have come to recognize it as the key to empowerment as well as advantage. It’s extraordinary that the Arnolds have given me the resources to explore freely and purposively, and, I hope, contribute something meaningful and impactful to the theory and practice of management.” The Arnolds, who have also supported scholarships and other needs across the University, believe that Shubha’s commitment to making a difference is one of the most important measures of the department’s success and their philanthropy’s impact. Kara says, “John and I are so grateful for our experiences at Penn State. We want to share that opportunity to grow and learn with today’s students, and we hope that they will end up sharing our passion for giving back.”
John and Kara Arnold (above), Shubha Patvardhan (below)
The President’s Report on Philanthropy and Endowments
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SUSTAININg A TRAdITION Of qUALITy
Students and employers in northeastern Pennsylvania connect through philanthropy
has been overwhelming and frustrating,” says the dallas, Pennsylvania native. “I know that I’m not the only student who’s anxious about what will happen when we take our degrees out into the world.” Thanks to a recent gift from longtime Penn State supporters Ric and Sharon Struthers, though, Megan and other students in
job-changing graduates in the region a comprehensive range of resources. going beyond traditional services such as résumé workshops and career fairs, the center will also provide state-ofthe-art technology for video interviews and online job searches. Most importantly, it will be home to three new staff members dedicated to connecting Penn Staters with employers who need their skills. “Northeastern Pennsylvania is facing many challenges, including the difficulty of keeping young people in the region and in good jobs,” says Ric, who grew up in Shavertown and spent two years of his Penn State education at the Wilkes-Barre campus before earning his management degree at University Park in 1977. “Sharon and I hope that the center will not only help individual students to build their careers, but also create a stronger economic environment for them to enter when they graduate.”
Penn State Wilkes-Barre’s Business Club, she could have counted on a good career after she completes her bachelor’s degree in business at the campus next spring. But in today’s tough job market? “Just searching for internships
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northeastern Pennsylvania will be able to launch their professional lives with greater confidence and more support. The Struthers Family Career Services Center at Penn State Wilkes-Barre will offer both current students and
Through their volunteer commitments—Ric is currently a member of the For the Future executive committee, and Sharon serves on the campaign’s stewardship committee in addition to her involvement in many other educational
The President’s Report on Philanthropy and Endowments
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Earl & Sedor Photographic
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n another time and another economy, a student like Megan Millo might not have worried about life after college. With a stellar gPA and a resume of leadership roles like the presidency of
Dan Z. Johnson
organizations—and through their philanthropy at Penn State and elsewhere, the Struthers are committed to helping students succeed. The vision for the Struthers family Career Services Center at Penn State Wilkes-Barre grew, in part, from Ric’s experience in helping to create the Bank of America Career Services Center at University Park in 2002. As a top executive at the company and a driving force and leading donor behind that project, he saw the importance of both a facility and a staff that would make employers feel valued at Penn State. When Ric met with students at the Wilkes-Barre campus in 2010 and heard their concerns about entering the workforce, he and Sharon started a conversation with Chancellor Charles davis about creating a career services center at the campus. “A survey of our recent graduates found that only a third were working in their chosen field,” says dr. davis. “Ric and Sharon understand that students need to start learning from the moment they arrive on campus about possible career paths and the educational choices they have to make to get there. We have to approach the issue from the other side, too. We need to communicate
to our local business communities and to employers throughout the nation just how much Penn State students have to offer.” Three new staff members—a career services coordinator, an assistant, and a regional job and internship development specialist charged with assisting all five campuses in northeastern Pennsylvania—began work this fall, and the Struthers family Career Services Center facility is planned for an expanded section of the Penn State Wilkes-Barre Athletics and Recreation Building. The Struthers have created an operating endowment for the center, and they have pledged to match up to $500,000 in gifts from
The President’s Report on Philanthropy and Endowments
other donors to renovate and equip the space. Their commitment to the campus also includes the Struthers family Trustee Scholarship, one of several scholarships the couple has created at Penn State. “Ric and I were both able to attend college because of scholarship support, and we wanted to give others that same opportunity,” says Sharon, a Clemson University graduate. “Access to education isn’t enough anymore, though. young adults are coming out of college and ending up unemployed or underemployed because they’re not ready for that next step in life. We see our scholarships and the center as complementary, as ways
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to create momentum toward success for Penn State students.” Megan Millo is grateful that Penn State Wilkes-Barre’s new and expanded career services will be there for her through her senior year and beyond. “I know that earning a Penn State degree will open up so many possibilities for me, but I need help in discovering what those possibilities are,” she says. “Thanks to the Struthers, I know that I won’t be alone as I try to find a rewarding job and a fulfilling life that will let me give back someday, too.” Megan Millo (opposite), Sharon and Ric Struthers (above)
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CONCEPTS IN PHILANTHROPy The need for scholarships
Penn State and employer matching programs When John and Carol Rooney created their scholarship for Schreyer Scholars, they took advantage of every opportunity to increase the impact of their support. “I’m a big believer in multiplying the benefits of giving as much as you can,” says John. “The Trustee Matching Scholarship Program and funds from the deloitte foundation meant that we could do even more to help students.” Many employers encourage philanthropy with matching programs; to learn if your company offers this benefit, you can search a database at www.matching.psu.edu or contact your human resources office. Penn State also provides matching funds through a number of programs that make alumni and friends its partners in supporting top academic priorities. The Trustee Matching Scholarship Program matches 5 percent of the total pledge or gift at the time a Trustee
Cody Goddard
“I want to level the playing field,” says Martha Barnhart Jordan, a former scholarship recipient who has created three endowments for Smeal College of Business students. “Everyone should have access to higher education, not only because it’s right, but also because good students from every economic background make our institution better.” Scholarships have been the top priority of For the Future since the campaign began five years ago, and the need has only grown during an era of economic turbulence, dwindling family savings, and job layoffs. In 2007-2008, students who needed loans to pay for their degrees were graduating with an average educational debt of about $27,000; last year, that figure was almost $34,000 and rising. Penn State’s alumni and friends can direct their support to students with the most urgent financial need through awards such as Trustee Scholarships (see below) and Renaissance Scholarships. donors may choose to designate their scholarships for students in a specified college or at a particular campus, and they can express preferences for recipients with certain
majors, co-curricular activities, or geographic and ethnic backgrounds (to the extent permitted by law). To learn more about the many options for creating scholarships at Penn State, please visit giveto.psu.edu/scholarships.
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The President’s Report on Philanthropy and Endowments
2011–12
Scholarship is created, making funds available immediately for student awards. This University match, which is approximately equal to the endowment’s annual spendable income, continues in perpetuity, doubling the support available for students with financial need. Opportunities also exist to leverage University support for Early Career Professorships (see faculty Endowment Challenge below) and graduate fellowships. To learn more, please visit giveto.psu.edu/support. Annual gifts, endowments, and group giving Mark Robinson is deeply grateful to Jerrilyn Muth-Kern for showing him how to honor his late wife, diane, at Penn State. “Jerrilyn remembered how much they had struggled to cover everyday needs when they were in nursing school together, and her family’s annual gifts inspired our family and diane’s family to give as well,” says Mark. “My wife, Susanna, and I feel very fortunate to have been able to create an endowment so that diane’s memory and our philanthropy will go on making a difference for students.” Annual gifts can allow donors at every level to have an immediate impact, as funds are typically expended in the same year in which they are received. Endowments, which require a minimum gift of $20,000 or more (depending upon the type of fund), generate income that supports the donors’ goals in perpetuity. Many donors continue to make new gifts to their endowments over time; the Moon family, for example, pools their support each year to increase the diane Moon Robinson Endowment, and Jerrilyn and her husband,
Jeffrey, have added to it as well. “I was thrilled when Mark told me that they were establishing an endowment,” says Jerrilyn. “I can’t think of a better way for all of us to express our love for diane.” The Faculty Endowment Challenge during his career in the technology sector, John Brennan has watched start-ups come and start-ups go, but he’s rarely seen a better bet than the ambitious young researchers and educators who will receive the Early Career Professorship he created with his wife, Jean. “It’s very important to attract and keep new faculty members who can really motivate students at the same time that they’re doing great work of their own,” says John. “And because we created our position through the faculty Endowment Challenge, we were able to spread our philanthropy around a little more and support other things we care about, too, like undergraduate scholarships.” The faculty Endowment Challenge offers donors an opportunity to leverage a 1:2 match from the University for gifts creating new Early Career Professorships. These awards rotate every three years to a new recipient in the first decade of his or her academic career, providing seed money for innovative research projects and flexible funding for new approaches to teaching, and they can play a critical role in helping the University to recruit and retain rising academic stars. To learn more about the faculty Endowment Challenge and other ways to support Penn State’s faculty, please visit giveto.psu.edu/faculty.
DeferreD GivinG 2003–2012 (Fiscal year ending June 30) 2003
48.1
2004
30.0
2005
14.4
2006
21.1
2007
25.2
2008
21.5
2009
24.6
2010
27.6
2011
34.2
2012
14.0 0
10
20
30
40
50 in millions of dollars
The President’s Report on Philanthropy and Endowments
2011–12
19
Honoring others with philanthropy “We get more out of seeing what our gifts do for Penn State students than seeing our name on something,” admits John Arnold. “We did name a graduate scholarship and a suite in the Business Building for my father, John A. Arnold, because we’re so thankful for the opportunities he gave us, and we think of the department of Management and Organization Excellence fund as another way to honor his values.” Philanthropy can be a powerful way to celebrate the lives, achievements, and passions of family members and friends, and it can help to ensure that their priorities remain Penn State priorities for generations to come. Whether donors choose to create a scholarship for students from a loved one’s hometown or support an academic program that’s preparing young people to follow in a friend’s footsteps, gifts to honor others can be among the most rewarding commitments to the University. Penn State works with donors to ensure that the story behind their gift is shared and celebrated through statements that are passed on to each new beneficiary of an endowment, press releases and public announcements of major gifts, or commemorative plaques and other appropriate signage at University facilities.
the University, private support is needed to initiate new programs, take existing ones to higher levels, and transform the experience of Penn State students. development staff members can work with you to find an opportunity for leadership philanthropy that matches your own passions and goals.
enDowment CateGory
minimUm Gift
Academic Endowments Dean’s Chair
$ 5,000,000
Department Naming
$ 5,000,000
Department Head’s Chair
$ 3,000,000
Faculty Chair
$ 2,000,000
Professorship
$ 1,000,000
Early Career Professorship
$ 500,000
Student Endowments Graduate Fellowship
$ 250,000
Distinguished Graduate Fellowship
$ 250,000
Leadership philanthropy
Honors Scholarship
$
50,000
Undergraduate Scholarship
$
50,000
“Penn State Wilkes-Barre has a history of alumni and friends stepping forward to make dreams a reality,” says dr. Charles davis, the campus chancellor. “When leaders like Ric and Sharon Struthers do it, it makes other people want to join in.” By sharing both their vision and their support for the Struthers family Career Services Center, the couple has launched a project that wouldn’t otherwise be possible in the present economy—and that economy, according to Ric Struthers, is precisely why the center is needed now. “Through our gift and through the match we’re offering to other donors, we hope to engage the community in creating and finding jobs for students in northeastern Pennsylvania,” he says. Leadership philanthropy like the Struthers’ can shape the University’s mission and challenge alumni and friends to make their own investments in the future of the institution. Across
Destiny Scholarship
$
50,000
Enrichment Scholarship
$
50,000
Trustee Scholarship
$
50,000
Renaissance Scholarship
$
30,000
20
Program Endowments Lectureship
$ 100,000
Research
$
50,000
Program Support
$
25,000
Libraries
$
25,000
Awards
$
20,000
The President’s Report on Philanthropy and Endowments
2011–12
The Pennsylvania State University Charitable Gift Fund Creating connections for Penn State supporters Alumni and friends who want a simple, cost-effective way to maximize the impact and tax benefits of their philanthropy now have a new option: the Pennsylvania State University Charitable gift fund, a donor-advised fund (dAf) that allows Penn State supporters to invest their charitable dollars and direct contributions to both the University and other nonprofit organizations. “Penn Staters are recognized around the country for their commitment to giving back—not just to the University, but also to countless charities in their communities and around the globe,” says Rodney P. Kirsch, senior vice president for development and alumni relations. “The Pennsylvania State University Charitable gift fund was created to help these generous individuals and their families to manage and simplify their philanthropic activities. This fund comes after years of research and preparation, and we are proud to be offering our supporters one of the most innovative approaches to giving available today.” Through the Pennsylvania State University Charitable gift fund (PSUCgf), donors can make gifts of cash, appreciated assets such as securities or real estate, and other resources to a fund that is invested and administered on their behalf by the University’s partners, investment firm Kaspick & Company and dAf technology and services provider Crown Philanthropic Solutions LLC. An account can be established with a gift of $25,000, and it can be increased with additional contributions that each meet a $1,000 minimum. donors may choose to have their gifts invested in one of eight options, much like mutual funds, that reflect different growth and income strategies. gifts can be counted as tax-deductible as soon as they are committed to the fund, allowing donors to manage the impact of significant tax events. donors may wait to direct their support until they have defined their philanthropic priorities, but at least 50 percent of the distributions from each donor’s account must ultimately come to the University.
The President’s Report on Philanthropy and Endowments
“for many alumni and friends, this fund offers an important alternative to other approaches to charitable giving,” says Michael J. degenhart, executive director of gift planning. “gifts to the fund can be made when they will be most financially advantageous for the donor while allowing for tremendous flexibility in the timing and targeting of charitable support. By partnering with one of the leading dAf technology solutions in the industry, we are also able to offer supporters a unique range of online tools that make giving easier, simpler, and more gratifying than ever.” Individuals who create an account through the PSUCgf will have access to Crown’s donorfirst dashboard environment, a secure, web-based system that makes it possible for donors to track contributions and distributions, research and receive content about both Penn State and external grantees, and direct their support, twenty-four hours a day, from any location. donors can also invite other family members or friends to use the dashboard to communicate and share ideas about individual and family philanthropy. “By minimizing the challenges and maximizing the benefits of giving, both financial and personal, we hope that the Pennsylvania State University Charitable gift fund will make the experience of philanthropy even more rewarding for our supporters,” says Kirsch. “We see this fund as a way to encourage the Penn State spirit of philanthropy and to help our supporters connect with the people and the causes that matter most to them.” for more information about the Pennsylvania State University Charitable gift fund, please contact Michael J. degenhart, executive director of gift planning, at 1-888-800-9170 or giftplanning@psu.edu.
2011–12
21
PHiLANTHROPy AwARDS & HONORS Each year, the Division of Development and Alumni Relations honors those individuals and companies that have been instrumental in our fundraising success. In 2012, we celebrated the following award winners. Philanthropist of the Year: Edna Peterson Bennett Pierce This award recognizes an individual, couple, or family who has demonstrated exceptional generosity in the promotion and support of The Pennsylvania State University. Through their philanthropy, the recipients have helped to shape Penn State’s future and enabled us to better serve students and citizens. In the nearly six decades since her graduation from Penn State, Edna Peterson Bennett Pierce’s life and philanthropy have been guided by her belief that “you can change the world one little child at a time.” Edna was a member of the fabulous 500, the first class of women admitted to the University after World War II, and she earned her degree in home economics in 1953. She went on to become the mother of six and the guiding spirit of the College of Health and Human development’s efforts to improve children’s lives. from the Bennett Playground, created in her honor by her late husband, gene Bennett, Edna’s
philanthropic presence on the University Park campus has grown to include the Bennett family Center, which offers on-campus child care from infancy through kindergarten, and the Prevention Research Center for the Promotion of Human development, endowed by Edna and committed to the health and welfare of children and adolescents. She has supported not only the facilities but also the individuals responsible for making Penn State a home to excellence in research on preventing problems in childhood and adolescence; her gifts to establish faculty chairs, an early career professorship, and a graduate fellowship are helping to ensure that the University will continue to attract and retain innovative leaders in the field of prevention science. Over the years, Edna has served on many Penn State boards and committees, and with her husband and fellow alum, A. duer “Bud” Pierce ’50, she remains engaged in the life of the University and the College of Health and Human development. Thanks in part to Edna’s support, a new Biobehavioral Health building is nearing completion. Home to the Prevention Research Center, the building is a symbol of the continuing commitment to children’s wellbeing that she and Penn State share. Fundraising Volunteer of the Year: Robert E. Fenza This award recognizes an individual or group who has served as fundraising volunteers, teachers, or mentors while demonstrating exceptional commitment and leadership in building philanthropic support for The Pennsylvania State University. Whether he’s sharing his professional experience with Penn State students or sharing his personal enthusiasm with prospective donors, Rob fenza is a powerful advocate for educational opportunity and for the College of Arts and Architecture. Soon after graduating from the University in 1980 with an intercollegiate degree in landscape architecture and philosophy, he became a managing partner with a real estate investment firm, now known as Liberty Property Trust, where he currently holds the posts of executive vice president and chief operating officer. His
22
The President’s Report on Philanthropy and Endowments
2011–12
success has enabled him, with his wife, Marcy, to create several scholarships for landscape architecture and music students and contribute to other funds across the University, including the fenza gaynor family Endowment for Cancer Research at Penn State Hershey Cancer Institute (PSHCI). The fenzas’ greatest gift to Penn State has been their service as fundraising leaders: Marcy, as a member of the PSHCI development committee, and Rob first as a member of the National Council on Penn State Philanthropy and now as the chair of the College of Arts and Architecture committee in For the Future: The Campaign for Penn State Students. Through his leadership, the college has already exceeded its original goal for the campaign, and he continues to build relationships that will benefit Arts and Architecture students in the years to come, hosting events with Marcy in the Philadelphia area and reaching out, formally and informally, to inspire other alumni and friends to support the University. Rob has been honored with a College of Arts and Architecture Alumni Award and holds the lifelong designation of Penn State Alumni fellow. He served as the College of Arts and Architecture’s commencement speaker in 2011, inspiring the college’s newest alumni with his own dedication to Penn State.
The future of energy will depend upon both talent and technology, and through its deepening relationship with Penn State, Chevron is making an extraordinary investment in both. One of the world’s leading integrated energy corporations, the company is a vanguard of collaboration between industry and higher education with its University Partnership Program (UPP), which identifies strategic institutions and forges connections through research and development, corporate responsibility initiatives, and human resources. The program’s goals include developing the technical knowledge, leadership skills and work experience of students entering the energy industry as well as increasing the pool of women and minority groups in science and technical fields. As a key Chevron partner, Penn State will receive more than $500,000 in 2012 alone for needs and opportunities ranging from diversity programming and laboratory upgrades in the College of Earth and Mineral Sciences to recruiting events in the Smeal College of Business to support for the Palmer Museum of Art annual gala and THON. The UPP will allow Penn State and Chevron to build upon many past and present connections, including more than 250 alumni now employed by the company. The recent establishment of a Chevron office in the Pittsburgh area will yield even more opportunities for recruitment and research and even greater visibility for the joint efforts of the company and the University to meet energy demands around the world.
Corporate Partner of the Year: Chevron This award recognizes a corporation that has demonstrated extraordinary generosity in promotion and support of The Pennsylvania State University. Recipients are chosen on the basis of consistency of giving, support to areas of greatest needs, and impact across Penn State.
The President’s Report on Philanthropy and Endowments
2011–12
23
ENdOWMENT OVERVIEW Endowed gifts are held by Penn State in perpetuity. The initial gift is invested, and a portion of the average annual investment return is spent for the purpose designated by the donor. The remaining income is added to the principal as protection against inflation. Thus an endowed gift today will have relatively the same value for future generations. Penn State’s endowment portfolio, into which endowed funds established at the University are invested, is referred to as the Endowment Pool. This commingled pool operates much like a mutual fund. Each endowment owns a number of units in the pool, just as an individual would purchase shares in a mutual fund. As with mutual funds, the value of
each unit at the time funds are invested in the pool determines how many units an individual fund acquires. Penn State strives to be a good steward of its endowed gifts and follows a prudent management philosophy in investing these gifts so that they maintain their value in real, inflationadjusted terms over time. Penn State’s Board of Trustees has established four basic endowment management principles to guide the University’s Investment Council. These four principles ensure that the spending power of each endowment gift will be maintained in the face of economic fluctuations.
GiftS to enDowment (Fiscal year ending June 30) 150
136.3
Basic Endowmen Endowmentt Managemen Managementt Principles Principles 1. Pr Provide sufficient sufficient curr curren entt and future future income income to to meet the Universit Universityy’s spending objectiv objectives es and enhance enhance its mission. 2. Focus Focus on long-ter long-term m perf perfor ormanc mance e. 3. Ac Accept a reasonable reasonable and prudent prudent level level of risk risk while maximizing “t “total otal”” retur eturn. n. 4. Diversify Diversify inv investmen estments ts to to reduc reduce e risk risk..
120
90 72.8
70.2 56.5
60
42.4
51.4
55.2
76.2 61.2
62.5
’09
’10
30
’03
’04
’05
’06
’07
’08
’11
’12
in millions of dollars
market valUe of Penn State’S enDowmentS anD Similar fUnDS
(Fiscal year ending June 30) EP
Similar Funds
Total Value
2003
$ 882
83
2004
1,007
100
1,107 (1.11 billion)
2005
1,128
103
1,231 (1.23 billion)
2006
1,280
110
1,390 (1.39 billion)
2007
1,537
132
1,669 (1.67 billion)
2008
1,488
128
1,616 (1.62 billion)
2009
1,184
97
1,281 (1.28 billion)
2010
1,342
98
1,439 (1.44 billion)
2011
1,708
123
1,831 (1.83 billion)
2012
1,765
90
1,855 (1.86 billion)
in millions of dollars
24
$ 965
n Endowment Pool (EP)
n Similar Funds
The President’s Report on Philanthropy and Endowments
2011–12
Investment Management Update Penn State’s endowment investments consist of a diversified portfolio of public equities, bonds, private capital, and hedge funds in addition to real assets. In managing our investments, we adhere to a prudent, rational, long-term strategy that seeks to maintain steady growth while minimizing the effects of volatile market fluctuations. The University provides 4.5 percent of the pooled endowment’s five-year average market value for spending on scholarships and educational programs. The University’s spending policy of using a rolling five-year average is intended to balance out the “peaks” and “troughs” in the
The President’s Report on Philanthropy and Endowments
investment markets, saving a portion of the earnings in the good years to offset the less profitable years. This provides generous current spending while preserving future purchasing power, which is known as “intergenerational equity.” As of the end of fiscal 2012, endowment and similar funds were valued at $1.86 billion, of which $1.77 billion was invested in the Endowment Pool portfolio. Similar funds, which include charitable remainder trusts, charitable gift annuities, and other life income funds in addition to some donor-restricted funds, represented $90.0 million in assets that are not directly invested in the Endowment Pool.
2011–12
25
enDowment aSSet mix | Where Penn State invested its endowed funds (Fiscal year ending June 30, 2012)
25% 55%
n Public Equities n Fixed Income n Private Capital 20%
for the year ending June 30, 2012, the Endowment Pool and similar funds saw an increase of $24 million, and these funds have grown a cumulative $239 million over the last five years. Over this same period, the endowment has provided $326 million of program support, including $71 million in fiscal 2012. These amounts reflect the impact of investment returns and generous giving, including consistent support for scholarships and University programs.
ments that, over the long term, generate returns in excess of inflation in order to preserve the endowment’s purchasing power for future generations.
Arianna Gianakopoulos
The Penn State endowment portfolio is broadly diversified, with 20 percent fixed income as of June 30, 2012; 55 percent in public equities (both U.S. and non-U.S.); and 25 percent in a variety of other (alternative) investments including real estate, private capital, venture capital, and energy. The majority of the endowment’s assets are equity-type invest-
In the year ending June 30, 2012, global equity markets pulled back from their previous year gains, with non-U.S. equities falling into negative territory while U.S. equities experienced modest gains. Non-U.S. public equities, as measured by the MSCI All Country World ex U.S. Index, returned –14.1 percent. Meanwhile, fixed income returns were positive for the fourth consecutive year, as the Barclays Capital Aggregate Bond Index earned a total return of 7.5 percent in fiscal 2012. Penn State’s private equity and venture partnerships outpaced public equities, returning 10.8 percent and 12.8 percent, respectively.
26
The President’s Report on Philanthropy and Endowments
2011–12
Penn State inveStment CoUnCil
averaGe annUalizeD total retUrnS for PerioDS enDinG JUne 30, 2012 (Net of fees) Total returns include interest, dividends, and market appreciation
Penn State’s Board of Trustees created the Investment Council in response to the University’s increasing asset base and complex investment strategies. The council provides direct oversight of the endowment and long-term investment program, and it regularly reviews asset allocation, new asset classes, investment strategies, and manager performance.
8.4% 7.5%
COUNCiL MEMBERS David J. Gray, chair Senior Vice President for Finance & Business/Treasurer The Pennsylvania State University 3.5%
David Branigan Executive Director, Office of Investment Management The Pennsylvania State University
2.6%
timothy J. Crowe Managing Director (retired) Anchor Point Capital LLC
20-year 10-year
Blake Gall, Cfa Founder and President Micro Plus Plus investment Management
5-year 1-year
Carmen Gigliotti Managing Director Private Market Group, DuPont Capital Management
lonG-term inveStment PerformanCe of enDowment Penn State’s endowment earned an investment return of 3.5 percent, excluding the impact of new gifts and spending. While stock market returns often fluctuate from year to year, the endowment’s well-diversified portfolio can weather short-term fluctuations and generate positive returns over long periods of time. Net of all fees and expenses, the Penn State endowment has averaged 7.5 percent per year over the last ten years, and 8.4 percent over the last twenty years, allowing the endowment to maintain steady inflation-adjusted spending and to achieve long-term intergenerational equity.
Gary a. Glynn President and Chief Investment Officer (retired) US Steel & Carnegie Pension Fund edward r. Hintz President Hintz Capital Management Colleen ostrowski Vice President, Investor Relations and Treasurer iTT Corp J. David rogers Chief Executive Officer J.D. Capital Management linda B. Strumpf Chief Investment Officer (retired) The Helmsley Charitable Trust
The President’s Report on Philanthropy and Endowments
2011–12
27
UNIVERSITy BUdgET SUMMARIES
inCome (Fiscal year ending June 30) 0.5% 6.6%
4.7% dollars in thousands
34.9%
8.6%
16.0%
n Tuition and fees n Medical Center/Clinic* n Restricted funds n Auxiliary enterprises n State appropriation n Philanthropy and other n Agriculture (federal) Total
28.7%
$1,439,373 1,181,958 659,788 354,522 272,431 193,001 20,554 $4,121,627
*Includes $6,568,000 in state and federal medical assistance funds, provided by the Pennsylvania Dept. of Public Welfare
exPenDitUre (Fiscal year ending June 30)
3.1% 4.9%
2.4% 1.2% 2.7%
dollars in thousands
28.7%
8.0%
8.6%
8.6%
17.9% 13.9%
28
n Medical Center/Clinic $1,181,958 n instruction 736,180 n Research 573,548 n Auxiliary enterprise 354,522 n Academic support 353,131 n institutional support 330,268 n Physical plant 204,014 n Public service 129,500 n Student services 109,225 n Pennsylvania College of Technology 98,670 n Student aid 50,611 Total $4,121,627
The President’s Report on Philanthropy and Endowments
2011–12
tHe State’S SHare of Penn State’S BUDGet year
total BUDGet State aPProPriation
PerCent of total
2012–13
$4,264,764,000
$272,431,000*
6.3%
2011–12
4,121,627,000
272,431,000*
6.6%
2010–11
4,016,443,000
333,863,000*
8.3%
2009–10
3,761,608,000
333,863,000*
9.0%
2008–09
3,607,440,000
338,375,000
*9.4%
2007–08
3,411,528,000
334,230,000
*9.8%
2006–07
3,209,165,000
2005–06
3,044,868,000
2004–05
2,786,403,000
327,715,000*
10.2%
312,026,000*
10.2%
317,179,000
11.4%
*Excludes state and federal medical assistance funding provided to Penn State Milton S. Hershey Medical Center through the Pennsylvania Department of Public Welfare
SoUrCeS of GiftS reCeiveD 2011–12
|
Where the $208.7 million came from
10.3% Sources
10.5% 50.2%
29.0%
The President’s Report on Philanthropy and Endowments
n individuals Alumni Friends n Corporations n foundations n organizations Total
2011–12
Amounts
$104,821,251 70,938,849 33,882,402 60,515,159 21,869,335 21,471,297 $208,677,042
Number of donors
182,165 75,593 106,572 5,873 472 3,202 191,712
29
DeSiGnateD PUrPoSeS of GiftS reCeiveD 2011–12 .2% .8% 1.9% .01% 2.3% 2.3%
|
Where the $208.7 million went
Purposes
14.6%
33.9%
21.6%
Amounts
n Property, buildings, equipment $70,754,463 n Student aid 46,565,716 n Other purposes* 45,080,277 30,366,271 n Research n Academic divisions 4,892,462 n Public services and extension 4,744,902 n Faculty resources 4,141,951 n Unrestricted University-wide 1,699,142 n Library resources 410,709 n Physical plant maintenance 21,149 Total $208,677,042 *This category includes gifts to the Children’s Miracle Network, multipurpose funds, and gifts awaiting designation by donors.
22.3%
GiftS DeSiGnateD to SPeCifiC UnitS 2011–12 UNIT
AMOUNT
UNIT
AMOUNT
Abington
$892,825
Hershey
Agricultural Sciences
7,606,048
Information Sciences & Technology
Altoona
1,551,288
Intercollegiate Athletics
Arts & Architecture
2,959,619
Lehigh Valley
Beaver Behrend
242,361 3,793,825
Liberal Arts
$31,345,841 7,343,032 51,418,209 410,631 6,378,629
Mont Alto
579,744
Berks
428,613
New Kensington
439,385
Brandywine
506,173
Outreach
6,609,382
Communications
1,380,689
Research & graduate School
1,849,239
dickinson School of Law
1,413,993
Schreyer Honors College
2,014,983
duBois
351,528
Schuylkill
382,825
Earth & Mineral Sciences
14,891,522
Shenango
298,018
Eberly College of Science
5,615,566
Smeal College of Business
5,500,556
Education
1,942,129
Student Affairs
1,325,736
Undergraduate Education
2,879,930
Educational Equity Engineering
254,330 23,615,476
University Libraries
2,433,131
fayette, The Eberly Campus
237,652
University-wide
great Valley
132,767
Wilkes-Barre
258,158
greater Allegheny
182,376
Worthington Scranton
325,368
Harrisburg
941,382
york
521,098
Hazleton
724,431
Health & Human development
30
8,405,635
TOTAL
8,292,919
$208,677,042
The President’s Report on Philanthropy and Endowments
2011–12
GrowtH in Private SUPPort anD Donor BaSe
300
274.8
250 200
190.3
181.3 151.3
150
165.2
181.5
182.1
208.7
203.4
Gift receipts
130.9
100 50
’03
’04 ’05 ’06 in millions of dollars
’07
’08
’09
’10
’11
’12
400 353.3
350 284.7 277.5 265.2 273.8
300 250 200
223.7 200.9 170.3
163.4 173.0
New commitments
150 100 50 ’03
’04
’05
’06
’07
’08
’09
’10
’11
’12
in millions of dollars
132,791
200,000 120,680 150,000
185,183 183,712 181,918
191,712
143,517 163,111
132,931
122,539
Number of donors
100,000
50,000
’03
’04
’05
’06
’07
’08
’09
’10
The President’s Report on Philanthropy and Endowments
’11
’12
2011–12
31
CAMPAIgN ExECUTIVE xECUTIVE COMMITTEE
Peter G. Tombros Campaign Chair
E. Lee Beard Campaign Vice Chair Chair, Campus Committees Edward J. Beckwith Chair, Planned Giving Advisory Council John M. Arnold At-large Member
32
Richard J. Barry At-large Member Dennis P. Brenckle Chair, Penn State Milton S. Hershey Medical Center Campaign Committee James S. Broadhurst Past Chair, Board of Trustees, The Pennsylvania State University
Linda J. Gall Chair, Stewardship Committee Edward R. Hintz Honorary Campaign Chair Martha B. Jordan Chair, Annual Giving Committee
The President’s Report on Philanthropy and Endowments
2011–12
William A. Jaffe At-large Member Edward P. Junker III At-large Member Jeffery L. King At-large Member
Bruce R. Miller Robert E. Poole Campaign Vice Chair Chair, Leadership Gifts Chair, College Committees Committee Arthur J. Nagle Honorary Campaign Chair
Catherine Shultz Rein Chair, Corporate Relations Committee
Karen B. Peetz Chair, Board of Trustees, The Pennsylvania State University
Douglas L. Rock At-large Member
The President’s Report on Philanthropy and Endowments
2011–12
Richard K. Struthers At-large Member John P. Surma Jr. At-large Member John K. Tsui At-large Member
33
Ex Officio Members
Rodney A. Erickson President, The Pennsylvania State University
Rodney P. Kirsch Senior Vice President for Development and Alumni Relations, The Pennsylvania State University
Cody Goddard
Robert N. Pangborn Interim Executive Vice President and Provost, The Pennsylvania State University
David J. Gray Senior Vice President for Finance and Business/Treasurer, The Pennsylvania State University
34
The President’s Report on Philanthropy and Endowments
2011–12
This publication can also be found on the web at: president.psu.edu/philanthropy for more information about philanthropy at Penn State, contact: Rodney P. Kirsch Senior Vice President for development and Alumni Relations The Pennsylvania State University 116 Old Main University Park, PA 16802-1501 814-863-4826
rpk6@psu.edu
The following current and recent Penn State students contributed photography to this publication: Andrew Dunheimer is a senior majoring in Visual Arts and Information Sciences and Technology. he serves as a senior photographer for the Daily Collegian and is a member of the National Society of collegiate Scholars and the Phi Kappa Phi honor society. After graduation, Andrew will serve as a technology adviser in the financial services office at Ernst & Young in New York city while continuing his freelance photography career. Arianna Gianakopoulos is a junior Integrative Arts major, combining graphic design, advertising, and photography. She hopes to merge this with her Sustainability leadership minor to work with sustainable print and packaging design when she graduates. She interns at the New leaf Initiative as a graphic designer, and she is fundraising chair for Global Water Brigades, as well as ThoN chair for the club field hockey team. Chloe Elmer is a May 2012 journalism graduate. In her senior year, she was a photographer for the office of Development communications. chloe was also a senior staff photography member and editor for the Daily Collegian, and she reported from Brazil for the Mcclatchy News Service with an international reporting class. chloe continues to pursue a daily news job while taking on freelance photography work. Matthew Bellingeri is a junior majoring in Security Risk Analysis and minoring in Information Sciences and Technology. he serves as a senior photographer for the Daily Collegian and is the vice president and co-founder of Boulevard Penn State, a student-run community service and philanthropy organization on campus. he plans to pursue a career in information security within the financial sector while continuing his freelance photography career.
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