RE PORT THE PRESIDENT’S R E P O RT O N PHILANTHROPY AND ENDOWMENTS 2020–2021
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Cover: Penn State Law (left), Mount Nittany as seen from University farmland (right) This page: The Dr. James J. and Lynn D. Ramage Marsh Meadow and the Marsh Meadow Boardwalk, a gift of the class of 2010, at The Arboretum at Penn State.
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M essages from the President and Campaign Chair A Year in Giving Stories Open Doors Create Transformative Experiences Impact the World Philanthropy Awards Numbers Campaign Executive Committee
ON TENTS 1
A M E S S AG E F RO M T H E P R E S I D E N T
Every autumn for the last eight years, I have had this opportunity—my annual message in the President’s Report on Philanthropy and Endowments—to speak directly to you, our most engaged, generous, and loyal supporters. This message has always been a moment to reflect on the fundraising success that you have made possible over the preceding fiscal year, on the achievements fueled by your support and your belief in the ability of our institution and our students to thrive and to lead. Philanthropy has never been more important than it has during the challenges of the global pandemic, when your giving has allowed us to maintain the strength of our programs and sustain the tradition of access and opportunity that has defined Penn State for generations. As I enter my final year as Penn State’s President, our current fundraising campaign, A Greater Penn State for 21st Century Excellence, is entering its final year as well. This fundraising effort has great personal meaning for me: its vision and its goals are truly expressions of what I believe to be the responsibilities of a great land-grant institution at this moment in our history. Our commitment to opening doors to higher education and to meaningful careers and lives for our students has received new affirmation from the $543.6 million received, as of June 30, for scholarships during this campaign. We have created transformative experiences for students, faculty, and the Penn State community through $248.6 million in private gifts, and our impact on the world has been deepened through $702.4 million for initiatives focused on human health, resource security, and economic development. In the pages that follow, you’ll learn about signature gifts from the past year that will enable us to fulfill each of these imperatives and our promise to past, present, and future generations of Penn Staters. You’ll also learn about the priorities that will focus our efforts during the final year of the campaign in the Looking Ahead notes on each page. Through your support, and through the vision and dedication of our entire community, I have had the honor of helping an already-great institution to become a Greater Penn State, and I am profoundly grateful. Eric J. Barron President The Pennsylvania State University
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A M E S S A G E F R O M T H E C A M PA I G N C H A I R
COVID-19. It is hard to have any discussion or communication without starting there. COVID-19 has fundamentally disrupted the traditional relationship that our alumni, students, faculty, administration, and friends have had with this great institution we all care so deeply about, Penn State. How do we maintain our deep connections to this institution and express our support when we cannot visit campus, students and faculty cannot attend class in person, and athletics events take place in sterile environments without the joyous presence of fans, cheerleaders, the band, and the Nittany Lion mascot? To your very great credit, you have demonstrated how to keep that connection and maintain the strength of Penn State. You have shown that “being a Penn Stater” means stepping up and giving back. Remarkably, you and more than 192,700 other donors have sustained the momentum of A Greater Penn State for 21st Century Excellence over this past trying year and moved us closer to our goal of raising a record $2.1 billion in new private support. Despite the challenges created by the COVID-19 pandemic, you have continued to invest in the vision of the campaign and ensured that our current students have returned to a university that is even better than before. You have encouraged us to set visionary goals for the future and supported Penn State in creating new programs and opportunities that will better serve our students and our communities for many years to come. As we are in the last year of this campaign, we need to continue that momentum to hit the ambitious $2.1 billion goal. As volunteer chair and as a proud Penn Stater, I am asking you and all of our supporters, as I ask myself, to consider how we may further help to fulfill the vision of A Greater Penn State. I respectfully ask for you to consider making a new gift. Please also encourage your friends, families, and companies to join us. We look forward to achieving our goal and giving our community an accomplishment to celebrate when this campaign ends on June 30, 2022. I have every confidence that we will meet this challenge as we have met all the other challenges that have confronted us through these past two years and again show the world what it really means to be a Penn Stater. Thank you again for all that you do.
Rick Sokolov ’71 Volunteer Chair A Greater Penn State for 21st Century Excellence
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A YEAR IN GIVING Even as the ongoing pandemic created global uncertainty, Penn State supporters showed their faith in the University’s future. Here are top stories from the Philanthropy at Penn State newsletter. To join the mailing list, please send a request to philanthropy@psu. edu. You can also look for @RaisePennState on Instagram, Twitter, and Facebook to stay up to date on all the ways that Penn Staters are supporting our institution.
SEPTEMBER 2020 Penn State and Wabtec announced a new strategic partnership that builds upon a long history of collaboration between the University and the transportation industry leader. The partnership, which touches areas across the institution, includes philanthropic support for Penn State Behrend’s science, technology, engineering, arts, and math (STEAM) camp for middle school girls.
JULY 2020 With the assistance of the Harrisburg-based Jewish Community Foundation (JCF) of Central Pennsylvania, an anonymous donor made the first major gift to Penn State’s Holocaust, Genocide, and Human Rights Education Initiative. The Initiative is partnering with the Pennsylvania Department of Education and other organizations to provide educators with the tools to tackle difficult topics in their schools.
OCTOBER 2020 Although College of Engineering alumnus David P. Stone died in 2018, his passionate love for music lives on through a faculty chair in the School of Music, endowed this year through his estate. Before his death, Stone also named the Olsan-Stone Terrace at the school’s new Recital Hall in honor of his parents.
AUGUST 2020 Twenty-five years ago—halfway through their careers as Penn State faculty—Gerry and Liz Susman made estate plans to endow positions for those who would follow in their footsteps. This year, the Susmans activated those endowments early so the University can begin awarding the professorships to accomplished academic leaders in the College of Health and Human Development and the Smeal College of Business.
NOVEMBER 2020 Building upon her own work as a leader at Dell, Smeal College of Business graduate Karen Hughes Quintos and her husband, Tony, made a $1 million commitment to create both an Educational Equity Scholarship and a program fund to ensure that the college’s students are prepared to foster a welcoming and inclusive culture in the workplace.
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DECEMBER 2020
MARCH 2021
Even as Penn Staters faced the ongoing challenges of the pandemic, they stepped up to support current and future students through another record-breaking #GivingTuesday, which raised more than $990,000 and secured more than 10,400 gifts for priorities across the University, from support for THON and the Blue Band to programs focused on sustainability and health care.
In March 2020, senior student-athletes experienced the heartbreaking cancellation of their final collegiate season. A year later, Intercollegiate Athletics announced that thanks to the generosity of alumni and fans, nineteen of those students had received support to return and complete their Penn State sports careers through the Returning Senior Fund.
MAY 2021
APRIL 2021 JANUARY 2021 Veterans are valued members of the University community, and Penn State Brandywine supporters Jack and Carol Wixted created a scholarship for those former servicemembers and their families who choose to enroll at the campus. The scholarship complements other Brandywine initiatives, including a new center, intended to support and honor military students.
The Engineering Ambassadors program cultivates leadership and communication skills among College of Engineering students, who use their abilities to connect with groups traditionally underrepresented in the field. Raytheon Technologies continued to provide philanthropic support for the program this year, and participants like Amanda Hildenbrand (shown here) have gone on to internships at Raytheon subsidiaries like Pratt & Whitney.
Charles H. “Skip” Smith, the Penn State alumnus and philanthropist who launched construction on The Arboretum at Penn State with a landmark gift in 2007, made a new $3 million commitment to ensure strong leadership for the Arboretum far into the future. Announcement of the Smith Endowed Directorship came as the University began a search to replace the founding director, Kim Steiner.
FEBRUARY 2021 Fueled by his struggle to find a community as a gay student at Penn State in the early 1980s, College of Agricultural Sciences graduate Jeff Conrad is helping to ease the way for today’s LGBTQ+ Penn Staters through a $1 million gift to renovate the Center for Sexual and Gender Diversity’s physical space, which has been renamed in his honor.
JUNE 2021 As Invent Penn State marked five years of inspiring entrepreneurship and innovation across the Commonwealth, an anonymous donor made the largest gift to date to the Fayette LaunchBox powered by Penn State. The $250,000 commitment secured a 1:1 match from the University’s LaunchBox Matching Program, which remains in effect until the end of the campaign.
MAY 2021
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Throughout the past year, the three campaign imperatives have guided our efforts and inspired donors to make gifts, like those highlighted in the following pages, that bring us closer to the goals and vision of A Greater Penn State.
STOR
IES The Business Building, home of the Smeal College of Business, with The Arboretum at Penn State visible at right.
OPEN DOORS
O U R PA S T, O U R F U T U R E Penn Staters have been joining together for generations—and their philanthropy will continue to make a difference for generations to come.
THE PENN STATE ALUMNI ASSOCIATION RENAISSANCE FUND On July 28, 1870, twelve men gathered in the original Old Main building for the first informal meeting of what would become the Penn State Alumni Association. Today, more than 170,000 Penn Staters are members of the organization, the largest of its kind in the world. The Alumni Association marked its 150th anniversary on November 17 in a virtual event that also honored its selection as the 2020 Renaissance Fund honoree. More than 500 guests logged on to celebrate the Alumni Association’s role in uniting and supporting the Penn State community. The biggest and best birthday present was a gift to future Penn Staters: more than $1.5 million in new endowed scholarship funds for students with outstanding academic ability and great financial need. The organization itself committed $500,000 as an outright gift to the Penn State Alumni Association Renaissance Fund and matched nearly $340,000 in gifts from other donors to any Renaissance Scholarship at the University. It was the most successful fundraising effort since the Renaissance Fund’s inception in 1969, and the total endowment has grown over the years to more than $17 million. Last year, 729 Renaissance Fund scholarships were awarded, offering more than $1 million in financial support and helping a new generation to join the ranks of proud Penn State alumni. Old Main’s chemical lecture room, birthplace of the Alumni Association.
“During this year of social distance, we can all recognize the need for an organization that actively seeks to bring people together. And for one hundred and fifty years, the Alumni Association has done exactly that and so much more. Through its programming and philanthropic support, the Association joins Penn Staters for unforgettable experiences and helps the University to provide new opportunities for alumni and friends year after year.” —O. Richard Bundy III, Vice President for Development and Alumni Relations
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OMEGA PSI PHI FRATERNITY NU ALUMNI ASSOCIATION EDUCATIONAL EQUITY SCHOLARSHIP When Penn State asked alumni and friends to become its partners in creating a more diverse, equitable, and inclusive institution through the Educational Equity Matching Program, the response was overwhelming. The program, launched at the end of June 2020 in response to the national conversation about race and justice, secured and matched gifts that created 165 scholarships for students who contribute to the diversity of the University and who face financial challenges in earning their degrees. The total impact of the now-concluded program: more than $24.5 million in new endowed funds.
Early members of the Nu Chapter of the Omega Psi Phi fraternity
Among the donors who stepped forward at this historic moment were the members of the Omega Psi Phi Fraternity Nu Alumni Association, who chose to mark a historic moment of their own. Founded in 1921, the Omega Psi Phi Nu chapter was the first predominantly Black student organization at Penn State, and its alumni commemorated its 100th anniversary by giving more than $140,000 to endow an Educational Equity Scholarship in the name of their organization and leverage a 2:1 match from University funds. “Over the last century, the fraternity has played a vital role in creating an environment that celebrates diversity and inclusion on campus,” says Marcus Whitehurst, vice provost for Educational Equity and former Second District Corridor VII Representative for the Omega Psi Phi Fraternity. “The Omega Psi Phi Fraternity Nu Alumni Association Educational Equity Scholarship will continue that important work while helping the University to welcome even more students from every background and ensure they have the resources they need to succeed.”
LOOKING AHEAD Educational access and equity will remain priorities during the final year of the Greater Penn State campaign, and all scholarship gifts will help to open doors to the University and a bright future beyond. Special opportunities for impact include: The Millennium Scholars Program is targeted to undergraduates from communities historically underrepresented in science, technology, engineering, and mathematics (STEM) fields, women, and aspiring STEM professionals of all backgrounds, and it offers a structured and supported path toward doctoral degrees and, ultimately, toward leadership as tomorrow’s innovators and problem-solvers. The Bunton-Waller Scholars Program, named in honor of Penn State’s first female and male Black graduates, awards scholarships and provides academic support to students who enhance the broad and diverse Penn State population. It is a powerful tool for recruitment and retention of students in every college at University Park and at many campuses across the Commonwealth.
The Hintz Family Alumni Center
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F O U N D AT I O N S F O R S U C C E S S Visionary supporters are helping undergraduates to thrive at Penn State and beyond.
OPEN DOORS
THE OVERLY SCHOLARS PROGRAM “We simply would not be where we are today without a solid education,” says Donna Overly about the paths that have taken her and her husband, Steven Overly, from their hometown of Hanover, Pennsylvania, to lives of professional success, international travel, and now leadership philanthropy, through their estate commitment to create the Overly Scholars Program. Their $7.3 million gift will endow full in-state tuition scholarships for high-achieving students in both the Schreyer Honors College and at Penn State Harrisburg, where Steven earned a master of public administration degree. He went on to two law degrees and a career in leadership roles for companies including General Electric, Lockheed Martin, American Casino & Entertainment Properties, and Textron. Donna’s first career was as a nurse, primarily in critical care. In 2005, she received her bachelor’s degree in studio art from the University of Texas at Austin. Today, she is both a painter and a published novelist. The couple has never forgotten their Pennsylvania roots and the challenges they faced in paying for their own educations. First preference for the Penn State Harrisburg program will be given to students from Adams and York Counties, where Steven and Donna were raised, while first preference for the Schreyer Honors College scholarships will be given to students from Westmoreland County, where Steven’s father and aunts and uncles grew up before going to Penn State themselves. Steven and Donna hope that through the in-state tuition scholarships, Overly Scholars will be able to take full advantage of opportunities like leadership development, international study, and service learning. “We know that the cost of a college education can prevent students from reaching their personal potential,” says Steven Overly. “We want to remove that barrier for students so they can focus on their academic achievement first and foremost, and then to give them some extra experiences that will build their character and help them to become engaged citizens and leaders.”
Students at Penn State Harrisburg’s Globe Fountain
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Student volunteers at Ivyside Eats
SHEETZ SUPPORT FOR PENN STATE ALTOONA The next time you stop at a Sheetz when hunger hits, imagine not being able to afford the food you need. Through a new commitment this year to Penn State Altoona’s Ivyside Eats, Steve and Nancy Sheetz are channeling the success of their family’s celebrated chain into support for students at their hometown campus. The $500,000 gift will help the organization to meet the growing food insecurity crisis among students, especially those impacted by pandemic-related job losses and other concerns. Last academic year alone, more than 400 students received support from the Ivyside Eats food pantry. The couple also committed $500,000 to create the first emergency assistance fund at the campus and $1.7 million to endow scholarships for the Sheetz Fellows, a leadership program based in Penn State Altoona’s Sheetz Center for Entrepreneurial Excellence. Steve Sheetz says, “No Penn State Altoona student should go hungry or face financial hardship alone, and every Penn State Altoona student should have the opportunity to fulfill their potential for leadership. We all benefit when young people in our region earn their degrees and find their own ways to give back.”
“Nan and I are grateful for all that this region and Penn State have done to support our success, and we are glad to help today’s and tomorrow’s students achieve their own ambitions and build careers, businesses, and lives in the Altoona area.”—Steve Sheetz
LOOKING AHEAD There are many ways that alumni and friends can address the food and housing security crisis among Penn State students. A task force appointed by President Barron has identified priorities that include: —Support for food pantries and programs at campuses across the Commonwealth —Centralized emergency funds to ensure that aid goes to those with the most urgent needs —The LiveOn Student Success Grant Program, which reduces the burden of on-campus housing costs To learn more about how you can help, contact Sue Harris, director of development for Student Affairs, at sueharris@psu.edu.
CREATE TRANSFORMATIVE EXPERIENCES
A B E T T E R P E N N S TAT E …
Across our campuses and across our Commonwealth, philanthropy is transforming the Penn State landscape and fulfilling the Penn State mission.
THE PALMER MUSEUM OF ART Thanks to the collective generosity of more than 50 donors, including leadership support from Dr. Keiko Miwa Ross and the Palmer Family Foundation, Penn State broke ground in August on a new 71,000-square-foot museum, projected to open in 2023. The high-performance, LEED-certified building will offer unprecedented access to the University’s art collections for students, faculty, and the public. Seamlessly integrating art, architecture, and nature and sited within a landscape like those that inspired many of the American works in its renowned collection, the new Palmer Museum will nearly double the space for the display, study, and stewardship of art. The innovative and versatile design by Allied Works Architecture features a series of interlocking pavilions clad in regional stone that evokes the geology of central Pennsylvania. Fundraising continues toward a $22 million goal to support construction of the facility, and additional philanthropy will enhance exhibitions and activate larger galleries, classrooms, event spaces, and more. A pool of $2 million in University support has been designated to match gifts to the museum’s Enrichment Fund.
Rendering of the new Palmer Museum of Art. Architect: Allied Works. Rendering: Courtesy of D-Render.
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PENN STATE GREAT VALLEY KNOWLEDGE COMMONS Digital learning is at the heart of higher education today, and philanthropy has allowed Penn State Great Valley to evolve the space at the heart of its campus. Once a library that housed rows of bookshelves and catalogued tools, the 9,000-square-foot area now offers a variety of resources for students, faculty, staff, and visitors: group study rooms, a 3D printing lab, an easy-to-use video production studio, a media editing room, a gaming room, a fitness studio, and more. Seven elements within the Knowledge Commons have been named by donors, including longtime campus supporters Di and Dallas Krapf.
Penn State Great Valley Knowledge Commons
“Great Valley has given local students a place for a wonderful Penn State education close to their homes,” Dallas Krapf says. “When the Penn State Great Valley location was chosen so many years ago, who would have known our campus would be in the center of the corporate world? The Knowledge Commons has been a wonderful addition to our campus, giving our students the tools they need to compete for a wonderful education at Penn State.”
The Innovation Lab in the Bellisario Media Center
LOOKING AHEAD
THE INNOVATION LAB IN THE BELLISARIO MEDIA CENTER When the Bellisario Media Center opened this fall, it welcomed students and faculty to a facility that represents the state of the art in communications technology and education. Among its signature resources is the Innovation Lab, which offers hands-on opportunities to pioneer new media approaches—and a graduate of the college who is herself a media pioneer has stepped forward to support it. Mary Meder, the longtime president of Philadelphia-based agency Harmelin Media, and her husband, Joe, made an estate commitment this year to create the Mary Meder Innovation Lab Fund, and they are already providing annual support to jumpstart the lab. “This gift provides support that will enable the kind of creativity and innovation that will set our students apart with tangible experiences—and allow us to inform and serve people across Pennsylvania,” said Marie Hardin, dean of the Bellisario College. “It’s a forward-thinking approach that will help us better prepare the next generation of media entrepreneurs and digital storytellers.”
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The future of the Pennsylvania economy—and of companies that will have an impact far beyond the Commonwealth—may begin in downtown State College, as the Invent Penn State network opens its new Innovation Hub this fall. The six-story, state-of-the-art, multi-use facility will be the cornerstone of the Penn State entrepreneurial ecosystem, with MakerSpaces for digital and physical product development; meeting, collaboration, and coworking spaces; and a home for the Happy Valley LaunchBox powered by PNC Bank and its offerings for student, faculty, and community entrepreneurs. Naming opportunities are available throughout the space, and support for the facility and its programming may leverage matching support from the University. Learn more at innovationhub.psu.edu.
CREATE TRANSFORMATIVE EXPERIENCES
…AND A BETTER WORLD
Thanks to support from alumni and friends, Penn Staters will have the resources to make a difference in communities close to home and around the globe.
THE GATTO GLOBAL SOCIAL IMPACT FUND Entrepreneurship not only has the potential to create a thriving economy—entrepreneurship can also address issues ranging from hunger and homelessness to sustainable energy. Smeal College of Business alumnus Lou Gatto and his wife, Kathy, are investing in the talent, ingenuity, and commitment of Penn Staters through a $1.1 million estate gift establishing the Gatto Global Social Impact Fund. The endowment will provide financing, resources, and mentorship for socially minded student entrepreneurs, drawing on the strengths of the college and the University—including the Center for the Business of Sustainability, the Farrell Center for Corporate Innovation and Entrepreneurship, Penn State’s Small Business Development Center, and Invent Penn State—to help them succeed. “Today’s students increasingly see business as a tool to make the world a better place,” says Dean Charles H. Whiteman. “Lou and Kathy’s gift will enable our students and our community to leverage the entrepreneurial ecosystem at Penn State to develop solutions to some of the biggest challenges facing society today.”
THE ANUNCIA DONECIA SONGSONG MANGLONA LAB FOR GENDER AND ECONOMIC EQUITY “We cannot wait another 200 years for social pressures to finally make organizations rectify the ongoing pay inequity experienced by women and minorities—we have to fight for pay equity in our lifetime,” says Katie Moussouris, a leading researcher and entrepreneur in cybersecurity and vulnerability disclosure. Through her Pay Equity Now Foundation, Moussouris has made a $1 million gift to Penn State Law at University Park—the largest in the school’s history—to establish the Anuncia Donecia Songsong Manglona Lab for Gender and Economic Equity. Named for Moussouris’s late mother, a scientist who encouraged her daughter to learn coding and set in motion a successful 20-year career in cybersecurity, the Manglona Lab will initially include a gender equity litigation clinic to address financial discrimination in the workplace and otherwise promote economic equity under the law and in practice through research. “My mother was underpaid and underpromoted throughout her entire professional career,” said Moussouris. “She suffered what all women, especially women of color, suffer in pay equity. It is my hope that the Manglona Lab will work swiftly and effectively to change this reality.” Dara Purvis (right), one of the Penn State Law faculty members affiliated with the lab
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PENN STATE BRANDYWINE CENTER FOR ETHICS AND CIVIC ENGAGEMENT “At Penn State Brandywine, we view ethics and civic engagement as keys to preparing our students to be responsible citizens who find solutions to our world’s most pressing challenges,” says Chancellor Marilyn J. Wells. Since 2018, the campus has worked toward that vision through the Center for Ethics and Civic Engagement, which engages students in nonprofit internships, community-based learning assignments, volunteer opportunities with community partners, and campus civic engagement events. Penn State Brandywine campaign chair David Rosenberg was a driving force behind the creation of the center, and this year, he and his wife, Marjorie, made a commitment to ensure that ethics and civic engagement will remain a focus at the campus far into the future. Their $250,000 estate commitment builds upon their past gift to name the directorship of the center. “The center truly embodies Penn State Brandywine’s character and values,” said Vippy Yee, Rosenberg Director for the Center for Ethics and Civic Engagement. “It has rapidly become a showpiece for our campus and a nexus for our students—a place where they can think and learn, create and collaborate.”
THE MCCOURTNEY INSTITUTE FOR DEMOCRACY
Brandywine senior Quiona Sephes volunteering through the center
LOOKING AHEAD Every year, more and more students are discovering their ambitions and passions through the Student Engagement Network. Launched in 2017, the comprehensive initiative spans twenty-four campuses and connects students with curricular and cocurricular opportunities such as research, student organization involvement, community leadership, study abroad, internships, arts and performances, and more. A joint effort between Undergraduate Education, Student Affairs, and Outreach and Online Education, the Student Engagement Network has built strong programs that impact students and communities locally, nationally, and globally—and that represent opportunities for philanthropic investment. Learn more at engage.psu.edu.
As the national conversation about the future of democracy continues to unfold, the College of the Liberal Arts has received new support for its efforts to inform the discussion with meaningful research. This year, Tracy and Ted McCourtney, whose leadership gift led to the naming of the McCourtney Institute for Democracy in 2014, made an additional $2 million commitment—their third major gift during the Greater Penn State campaign—to be divided between the college’s Future Fund and the institute’s endowment. The gift will allow enhancements to the institute’s Mood of the Nation Poll, which is unique in the world of public opinion polling because it allows citizens to respond in their own words about issues in politics and current events. “We are excited to continue to use our philanthropy to promote the College of the Liberal Arts and the McCourtney Institute and to play a role in their successful future,” said Ted McCourtney. “This is an important time in America, and we are pleased with what is happening at Penn State.”
McCourtney Institute Director Michael Berkman, Communications Specialist Jenna Spinelle, and McCourtney Institute Managing Director Christopher Beem in studio of the award-winning “Democracy Works” podcast Image: Darren Weimert/Barash Publications
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IMPACT THE WORLD
INVESTING IN OUR ECONOMY AND OUR ENTREPRENEURS The University and its supporters are partnering to drive innovation, create jobs and business, and lead the way to a brighter future.
THE BARDUSCH FAMILY IDEAMAKERS CHALLENGE
President Barron and participants at the 2019 Startup Week
The culminating event of Penn State Startup Week powered by PNC may have been virtual this year, but the excitement was real. Not only did the celebration recognize student entrepreneurs and innovators who have placed or advanced in University-wide challenges and competitions during Startup Week and throughout the academic year—it also provided an opportunity for President Barron to announce a new endowment supporting the IdeaMakers Challenge, a pitch competition sponsored by the College of Information Sciences and Technology (IST). Alumni Bob and Susan Bardusch leveraged University support through the Economic Development Incentive Matching Program in making their gift to IST. Bob serves on the Dean’s Advisory Board, and the Barduschs’ daughters, Victoria, and Alexandra are both recent graduates of the college. The family appreciates IST’s commitment to encouraging innovation and leadership. “Entrepreneurship is the way of the present and certainly the way of the future,” says Susan Bardusch. “Enabling students to be able to do something with their idea, and not just talk about it in a classroom setting, is very rewarding for them, for the University, and for us.”
LOOKING AHEAD Gifts to support Invent Penn State’s LaunchBox and Innovation Hub Network, as well as select economic development initiatives across the Commonwealth, remain a priority in the last year of the campaign. Two opportunities to leverage University funds—the LaunchBox Matching Program and the Economic Development Matching Program—are available through June 30, 2022, or until the pool of support is exhausted. To learn more about how to make a gift and secure a match, please contact Heather Winfield at hbw11@psu.edu.
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THE JACK WHITE FAMILY DIRECTORSHIP FOR HAPPY VALLEY LAUNCHBOX POWERED BY PNC As the Invent Penn State team prepared to open the Penn State Innovation Hub in downtown State College to entrepreneurs from the University and the community this fall, alumni Jack R. and Dorothy White stepped forward to ensure strong and visionary leadership for one of the signature programs that will make its home in the new 85,000-square-foot facility. The couple’s gift of $1 million named the Jack White Family Directorship for Happy Valley LaunchBox powered by PNC Bank. Combined with a one-to-one University match from the Economic Development Incentive Matching Program, the Whites’ commitment will support recruitment and retention of innovative leaders for Happy Valley LaunchBox, which provides programming and resources to support local entrepreneurs, and offer flexible funding that allows current director, Lee Erickson, and future Jack White Family Directors to fulfill their vision for Happy Valley LaunchBox. “Jack and Dossy White understand the value of entrepreneurship and innovation, and they also understand the importance of strong leadership in any enterprise,” said James Delattre, associate vice president for research and director of the Office of Entrepreneurship & Commercialization. “Their gift—itself a remarkable example of philanthropic leadership—will ensure that the current director and future directors of Happy Valley LaunchBox have the resources they need to maintain the momentum we’ve already built up and develop new ways to meet the needs of entrepreneurs in our community.”
Rendering of the Penn State Innovation Hub
BOB AND LINDA MALECKY ENTREPRENEURSHIP FUND IN SUPPORT OF THE SUMMER FOUNDERS PROGRAM One Penn State family’s experience with disabilities has inspired them to support emerging entrepreneurs who may ease the path forward for others. “One of our children was diagnosed with a rare neuroimmune disorder when they were very young,” explains Linda Malecky, a graduate of the University’s MBA program. “As we’ve connected with the community of people dealing with this disorder, we’ve seen not only our own challenges but also the struggles other families have faced. We wanted to do something to help improve the quality of life for people who are impacted by any form of disability, while at the same time giving back to Penn State, which has played an important role in both of our lives.” Linda and her husband Bob, who earned both his undergraduate and MBA degrees at the University, tapped into the Economic Development Incentive Matching Program to endow a fund for the Summer Founders program, a 13-week entrepreneurial bootcamp that’s a signature program of Invent Penn State. The couple’s support will fund teams of student entrepreneurs developing products or services designed to positively impact the lives of people with disabilities. Students working on a prototype
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IMPACT THE WORLD
T H E H E A LT H O F O U R P E O P L E , T H E H E A LT H O F O U R P L A N E T The well-being of our local communities and our global society depends upon collective effort— and upon philanthropy from visionary donors.
THE ROSS AND CAROL NESE COLLEGE OF NURSING The COVID-19 pandemic has highlighted the vital and often heroic contributions of nurses on medicine’s frontline—and the urgent need to grow and train new generations of professionals who can meet the need for skilled, compassionate care. Ross and Carol Nese, who have long offered anonymous support to Penn State’s College of Nursing and its students, have stepped forward with a landmark gift of more than $27 million that will allow the University to expand and enhance its nursing programs across twelve campuses and graduate at least 20 percent more nurses in the years ahead. In recognition of this remarkable investment in the future of health care, the Board of Trustees approved the college’s naming in honor of the Neses. “I know that the Neses share our deep concern about the nursing shortage that has been developing in our country for some time and recognize the significant and growing role that nurses with excellent preparation play in the delivery of outstanding health care,” said Laurie Badzek, dean of the College of Nursing. “Bolstered by their visionary philanthropy, Penn State can really make a difference for the field of nursing—not only because of the number of nurses we graduate, but also because they will be graduating from one of the nation’s finest nursing programs, where the mission is to create nurse leaders.” Nursing students at Penn State Mont Alto
DR. KEIKO MIWA ROSS STUDENT FARM From her home in The Village at Penn State, 2020 Philanthropist of the Year Dr. Keiko Miwa Ross has been able to watch the growth of the nearby Student Farm, established in 2016 to give Penn State students an opportunity for handson learning about the challenges and the impact of creating sustainable food systems. Under the auspices of the Sustainability Institute, the Student Farm supplies harvests from its current one-acre plot to Penn State Dining and the Lion’s Pantry, and it builds relationships with the community through produce sales, volunteer days, and more. Ross was introduced to the farm and its students through these connections, and her enthusiasm for the project resulted in a $2 million commitment to name the farm. Crops at the Dr. Keiko Miwa Ross Student Farm
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LOOKING AHEAD SUPPORT FROM THE PNC FOUNDATION PNC’s long history is rooted in Pennsylvania, and from the start, the financial services leader has invested in the same regions that Penn State serves. This year, the PNC Foundation continued that community-centric tradition—and its long history of support for the University—with a new $2 million grant to Penn State and Penn State Health for programs that will touch the lives of central Pennsyvanians, including families and students. The funding has been directed to: — A new effort by Penn State PRO Wellness connecting school-aged children to education that integrates health and the exploration of STEM disciplines. — The PNC Community Health Impact Endowment, which will address the most pressing health needs and disparities in central Pennsylvania. — Leadership development for K-12 students participating in Four Diamonds Mini-THONs®, which raise support to conquer childhood cancer. — Support for Penn State Startup Week, a signature annual event under the Invent Penn State initiative that seeks to inspire Penn State students to think innovatively and pursue entrepreneurism.
Our shared future will depend upon the availability of energy that is affordable, accessible, clean, safe, and abundant, and Penn State is poised to lead the way. Through President Barron’s vision for the Energy University, our institution is pursuing advances on all fronts, from innovations in the petroleum and natural gas industry to improvements in building design and construction to strategies for minimizing environmental impacts and maximizing energy efficiency across many industries. This year, the Department of Energy recognized Penn State’s potential as a pioneer by funding the Consortium to Assess Northern Appalachia Resource Yield (CANARY), a University-led initiative to assess and catalog northern Appalachian-basin critical mineral resources and waste streams; develop strategies to recover the materials from these streams; and identify potential supply-chain or technology gaps that will need to be addressed. The critical minerals targeted are vital in modern technology from cell phones to fighter jets. To learn more about the role that philanthropy can play in fueling this effort and other Energy University priorities, please contact Eric Reinhard at ereinhard@psu.edu.
Lower Moreland High School Mini-THON participants
SARTORIUS CELL CULTURE FACILITY The next great advance in human health—and the careers of the researchers who will lead the way—may begin in a Penn State facility funded by Sartorius Stedim Biotech, a leading international partner of the biopharmaceutical industry. The company’s $1.5 million gift to the Sartorius Cell Culture Facility expands their partnership with Penn State to advance multidisciplinary teaching and research in biotechnology through hands-on experiences for undergraduate and graduate students and corporate employees and providing exposure to research innovations across numerous fields. Although the pandemic prevented an in-person celebration of the company’s investment, a virtual ribbon-cutting in April brought together Penn State and Sartorius leaders to discuss the future of biotechnology research and the importance of corporate partnership at the University. View the recording at www.huck.psu.edu/sartorius.
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Each year, the University celebrates leaders—in giving, volunteer service, corporate partnership, and foundation support—who are setting the standard for the Penn State community.
PHILANTHOPY
A
The Pugh Street Mall on the University Park campus
WARDS
P H I L A N T H R O P Y A WA R D S
PHILANTHROPISTS OF THE YEAR This award recognizes an individual or family who has demonstrated exceptional generosity in the promotion and support of The Pennsylvania State University. The recipients of this award, through their philanthropy and service, have helped shape the University’s future and improve the quality of life for the student body, faculty, and staff.
GENE AND ROZ CHAIKEN Through the philanthropic leadership of Gene and Roz Chaiken, who are cumulatively the most generous donors in the history of the College of the Liberal Arts, hundreds of undergraduates have been able to afford a Penn State experience, and the college’s academic programs have been permanently enhanced. A 1962 business administration graduate, Gene is chairman of the board for Almo Corporation, and Roz is executive vice president of the family business. Gene has served in many volunteer roles with his alma mater, and the Chaikens have been making philanthropic gifts to the University for decades. They chose the Liberal Arts as their initial philanthropic focus to help establish and sustain the Jewish Studies program, and their desire to ease the financial burden on students led them to establish the Gene and Roz Chaiken Trustee Scholarship in 2008, followed in 2013 by the Chaiken Family Trustee Scholarship. To date, these endowments have resulted in 987 scholarships— amounting to nearly $6.2 million in student support. In 2019, the Chaikens cemented their position as the University’s largest Trustee Scholarship donors with substantial gifts to enhance their existing endowments. Most recently, the Chaikens established the Roz and Gene Chaiken Center for Student Success in the College of the Liberal Arts, which will provide students with resources, programming, and other support. Gene has been honored as a Penn State Distinguished Alumnus and Alumni Fellow, and in 2013, the college created and presented Roz and Gene with the inaugural Chaiken Leadership Award, which annually recognizes an individual or couple for outstanding generosity. The Chaikens’ genuine warmth and affection for the recipients of their support, as well as their extraordinary philanthropy, will have lasting impact in the College of the Liberal Arts and throughout the Penn State community.
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FUNDRAISING VOLUNTEERS OF THE YEAR The award recognizes an individual, couple, 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. 2021 marks the first year that the University is celebrating honorees who represent both University Park and the Commonwealth campuses.
KARLA TROTMAN
SAM BERNSTINE
Even as Karla Trotman leads her family electronics manufacturing business as president and CEO of Electro Soft, Inc., she has devoted her own time and resources to her alma maters. At Penn State, where she earned a bachelor’s degree in business logistics, she is currently a member of the University’s Volunteer Engagement Committee. Previously, Trotman was a member of the Black Alumni Reunion Weekend Committee and was active with the Smeal Alumni Society Board. At Drexel University, where she completed an MBA, she is a member of the Board of Governors and previously served as the Executive MBA Alumni Board President. During the COVID-19 pandemic, she has helped Penn State to remain actively engaged with its fundraising volunteers through her leadership in virtual discussions of race and equity, support of student veterans (her own father attended the University through the G.I. Bill), and other critical topics. She also stepped forward during the University’s now-concluded Educational Equity Matching Program to create a scholarship in the Smeal College of Business for students with financial need who contribute to the diversity of the institution. Within the college, Trotman facilitates a series of “Diversity Entrepreneurship Talks” with the mission of inspiring students from underrepresented communities to consider entrepreneurship in their future, and she was instrumental in the formation of Smeal’s Minority-Owned Business Network. Through both her service and her philanthropy, Karla is setting the standard for a new generation of Penn Staters who believe that they have both the power and the responsibility to advocate for a truly inclusive institution.
Sam Bernstine knows firsthand how important the Commonwealth campuses are in launching successful academic careers and professional lives for so many students, and he has been tireless in his efforts, since his time at Penn State Shenango in the 1970s, to ensure that future generations continue to benefit from the same experience he found at the campus. He has also served with distinction at the University-wide level for many years, and both Penn State Shenango and the College of Health and Human Development are proud to claim him as a former student and current volunteer leader. He began his degree at the campus through the 2+2 option and completed it at University Park. Bernstine has used his Penn State education as the foundation for a career in management consulting, and he currently specializes in operational excellence as a practice leader at Kepner-Tregoe. Despite the demands of this work, he is an active member and previous chair of the Penn State Shenango Advisory Board; the University Park Renaissance Scholarship Board; and the College of Health & Human Development Alumni Society Board. He has also held leadership roles in (and remains an active member of) the Lawrence County chapter of the Penn State Alumni Association (PSAA) and Shenango Alumni Society. With his wife, Pam, he has led Penn State’s fundraising efforts by example with support for several scholarships at Penn State Shenango. His family joined him in supporting the Sam, Pam, Aaron, Ilia, and Dierks Bernstine Open Doors Scholarship, and he has inspired his fellow alumni, advisory board members, and others to contribute to scholarships and other funds. Bernstine believes that those who are grateful for what Penn State has given to them must step up and give back, so the University can continue offering amazing opportunities at all of our campuses.
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CORPORATE PARTNER OF THE YEAR This award celebrates corporate partners that have demonstrated exceptional commitment in promotion and support of Penn State, excellent track records of philanthropy and research, and active engagement of students and alumni in the workplace and the classroom.
THE GIANT COMPANY For more than forty years, The GIANT Company has partnered with Penn State to support the well-being of families across Pennsylvania and beyond. The supermarket retailer—which employs more than 35,000 team members at hundreds of locations in the Commonwealth, as well as in Maryland, Virginia, and West Virginia—has directed most of its support to Penn State Health Children’s Hospital and the Milton S. Hershey Medical Center, demonstrating a strong commitment to pioneering new research discoveries, advancing patient care, and supporting frontline healthcare workers. The GIANT Company is the top corporate donor to Children’s Miracle Network (CMN), with twenty-five years of support that has included sponsoring the annual CMN telethon and other fundraising events and running in-store campaigns offering customers various ways to support CMN at the checkout register. In 2020, the company committed $1 million to CMN to fund a community car seat safety program in which Penn State Health Children’s Hospital community health educators conduct safety checks and provide new seats when needed; to underwrite a K-12 wellness initiative that assesses schools’ nutrition programs and pro-
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vides tailored resources for improvement; and to support the three-floor expansion of Penn State Health Children’s Hospital. In conjunction with its 95th anniversary in 2018, The GIANT Company funded a 3D heart model printing program for pediatric patients with congenital heart disease. And during the onset of COVID-19, The GIANT Company responded to the challenge of the pandemic with a gift of $50,000 to the Penn State Health COVID-19 Assistance Fund; they also donated PPE to the hospital and more than $22,000 of in-kind gifts of product and flowers to our frontline workers in honor of National Nurses Week and National Hospitals Week. All of this affirms The GIANT Company’s dedication to connecting families for a better future. We are proud to recognize their tremendous generosity and look forward to this remarkable partnership developing further in the years to come.
FOUNDATION PARTNER OF THE YEAR This award recognizes a foundation 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 need, and impact across Penn State.
THE J. WILLARD AND ALICE S. MARRIOTT FOUNDATION From humble beginnings to international prominence: that’s the story of Penn State’s School of Hospitality Management, which has grown over eight decades into a top program. It’s also the story of J. Willard Marriott, who began raising sheep on his family’s small farm in the 1920s but went on to found the world’s largest hospitality company, now known as Marriott International. The opportunity to attend first Weber Junior College and then the University of Utah was made possible by the support and encouragement of an English professor who recognized his potential. His wife, Alice Sheets Marriott, was also vital to his tremendous success, serving as bookkeeper, adviser, and true partner in his early business endeavors. The J. Willard and Alice S. Marriott Foundation carries on the couple’s legacy, creating opportunities for others to make positive change in their lives and achieve their ambitious dreams. The Marriott Family Foundation has furthered that goal at Penn State, primarily through its generosity to the School of Hospitality Management. The Foundation has provided funds to help build Mateer Building, the school’s home, and to endow the Marriott Professorship in Lodging Management. Its most significant gift to date came in 2019, with a $4 million pledge for renovations to and programming within the former Oak Building, now The J. Willard and Alice S. Marriott Foundation Building. Beyond the essential physical spaces expanding educational opportunities to students, the gift will support innovation and inclusion in the development of future industry leaders—especially meaningful as the industry rebuilds from the pandemic. The Marriott Family Foundation has played a major role in growing the School of Hospitality and its impact on the hospitality industry. In turn, the school is realizing the Foundation’s goal of giving promising students pathways to success and leadership. We are honored to partner with the Foundation to realize our shared vision for hospitality education and carry forward the Marriott family’s remarkable legacy.
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NUM
Penn State Beaver
BERS Through the generosity of our supporters and the careful management of our funds, philanthropy is building strength for Penn State’s future.
E N D O W M E N T A N D P H I L A N T H R O P Y S U M M A RY ENDOWMENT OVERVIEW The Long-Term Investment Pool (LTIP) is Penn State’s investment portfolio into which most of the endowed funds established at the University are invested. This commingled pool operates much like a mutual fund. Each endowment owns units in LTIP, just as an individual would purchase shares in a mutual fund. As with a mutual fund, the value of each unit at the time funds are invested in the pool determines how many units an individual fund acquires. Endowed gifts are held by Penn State in perpetuity. The initial gift is invested, and annually a portion of the investment return is spent for the purpose designated by the donor. Thus, an endowed gift today is intended to have relatively the same value for future generations. 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 may maintain their value in real, inflation-adjusted terms, over time. The University’s Board of Trustees has established four basic investment management principles to guide the University’s Investment Council. These four principles help ensure that the spending power of each endowment gift will be maintained in the face of economic fluctuations:
BASIC ENDOWMENT MANAGEMENT PRINCIPLES 1. Provide sufficient total return on investments to meet the University’s mission and spending objectives. 2. Focus on long-term performance. 3. Accept a reasonable and prudent level of risk while maximizing “total” return. 4. Diversify investments to reduce risk.
LTIP ENDOWMENT GIFTS AND OTHER ADDITIONS
(Year ending June 30, 2021) 136.5 128.9 182.2 170.7 108.6 94.9 130.3 92.2 73.9 76.2
’12 ’13
’14 ’15 ’16 ’17
in millions of dollars
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’18
’19 ’20 ’21
21.6% 2.7% 7.3% 12.5%
AVERAGE ANNUALIZED TOTAL RETURNS Total returns include interest, dividends, and market price changes less external investment manager fees and some other expenses
12.7% 36.6%
23% 20.2%
13.5% 10.1%
8.3%
LTIP ASSET MIX In millions ● U.S. Equity
U.S. Equity
$ 1,341
● Non-U.S. Equity
Non-U.S. Equity
$1,255
● Private Equity
Corporate Finance
1-year
Venture Capital $1,430 ● Diversifying
Hedged Strategies
Private Credit
● Fixed Income
Fixed Income
$ 790
Natural Resources Real Estate
$ 449
● Global Public Equity
Global Equity
$ 169
20-year
In the year ending June 30, 2021, U.S. equity markets had very strong returns, with the S&P 500 gaining 40.8 percent; the MSCI All Country World Index ex-US returned 35.7 percent. Fixed-income markets represented by the Bloomberg Barclays U.S. Aggregate finished the year slightly negative, posting an overall return of -0.3 percent.
Commodities
10-year
LTIP PERFORMANCE SUMMARY
Cash $ 777 ● Real Assets
5-year
As of June 30, 2021, LTIP’s investment return was 36.6 percent over the last year, 13.5 percent per year over the five-year period, 10.1 percent over the 10-year period, and 8.3 percent over the 20-year period. These annualized investment returns are net of external investment manager The Penn State endowment portfolio is broadly diversified, with 12.5 per- fees. These results demonstrate long-term growth even when considercent in fixed income as of June 30, 2021; 44.5 percent in public equities ing periods of negative investment returns, such as the steep decline at (Global, U.S. and non-U.S.); and 23.0 percent in private equity. In addi- the turn of the century, the downturn a decade ago due to the credit crisis, tion, 7.3 percent is invested in real assets including real estate, natural and the decline during March 2020 due to the impact of COVID-19. Penn resources, and commodities, while 12.7 percent is invested in diversifying State’s diversified approach has allowed the endowment to support proassets (including hedge funds and private credit). The majority of the en- gram spending, such as scholarships and faculty positions, while maindowment’s assets are equity-type investments that, over the long term, taining real, inflation-adjusted growth for the future generations. are expected to generate returns more than inflation to preserve the endowment’s purchasing power for future generations.
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INVESTMENT MANAGEMENT UPDATE LTIP’s investments consist of a diversified investment portfolio of public equities and fixed income, private equity, real assets, and other diversifying strategies. In managing our investments, we adhere to a prudent, long-term investment strategy. The University targets 4.5 percent of LTIP’s five-year average market value for spending on scholarships and educational programs. The University’s spending policy of using rolling five-year average balances is intended to smooth out the “peaks” and “troughs” in the 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 2021, total endowment assets were valued at $4.61 billion, of which $4.4 billion was invested in the Long-Term Investment Pool. The other endowment assets, which include charitable remainder trusts, charitable gift annuities, and other life income funds in addition to some donor-restricted funds, represented $177 million; these assets are not invested in the Long-Term Investment Pool. For the fiscal year ending June 30, 2021, the total endowment assets increased $1.21 billion, and have increased a cumulative $2.14 billion over the last five years. This amount reflects the impact of investment returns and generous giving, net of consistent support for scholarships and University programs. Over this same period, endowment assets invested in LTIP have provided $580 million of program support, including $133 million in fiscal 2021.
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PENN STATE INVESTMENT COUNCIL
Endowment Similar Pool Funds
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 regularly reviews asset allocation, new asset classes, investment strategies, and manager performance.
Total Value (in billions)
$4,436
177
4.61
3,265
138
3.40
3,108
138
3.25
2,852 139
2.99
2,624 133
2.76
2,347
124
2.47
2,376 116
2.49
2,285
114
2.40
1,933
96
2.03
1,765
90
1.86
COUNCIL MEMBERS FOR FISCAL YEAR 2020–21 Dr. Sara F. Thorndike, Chair Senior Vice President for Finance and Business/Treasurer The Pennsylvania State University Joseph M. Cullen Chief Investment Officer, Office of Investment Management The Pennsylvania State University James P. Brandau ’03 Bus Senior Vice President Brown Brothers Harriman & Co. Blake Gall, CFA Founder and President MicroPlusPlus Investment Management Carmen J. Gigliotti ’77 Sci Managing Director (retired) DuPont Capital Management J. Alex Hartzler ’90 Lib Managing Partner & Founder WCI Partners, LP ’12
’13
’14 ’15
’16 ’17
’18
’19 ’20
Edward R. Hintz Jr. ’59 Bus President Hintz Capital Management Inc.
’21
MARKET VALUE OF PENN STATE’S ENDOWMENTS AND SIMILAR FUNDS
Joseph B. Markovich ’80 Bus Managing Director J.P. Morgan Private Bank
(Fiscal year ending June 30, 2021)
Colleen Ostrowski ’99 Bus Senior Vice President and Treasurer Visa J. David Rogers ’78, ’80g Bus Chief Executive Officer J.D. Capital Management, LLC
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9.1%
SOURCES OF GIFTS RECEIVED 2020–21
Where the $270 million came from 15.1%
$270M 18.2%
Sources
Amounts
● Individuals
$ 155,628,114
190,160
Alumni
76,473,754
62,224
Friends
79,154,360
127,936
● Corporations
49,202,744
3,197
● Foundations Organizations
40,907,809
444
24,665,670
792
$ 270,404,337 Foundations
194,593
● Organizations
Total
57.6%
Number of donors
Corporations Individuals
31.67% .06% .19% .52% 1.O5% 1.53%
DESIGNATED PURPOSES OF GIFTS RECEIVED 2020–21
Where the $270 million went
7.36%
● Student aid 9.02%
$270M 18.20%
$ 85,623,990
● Other purposes*
82,193,549
● Property, buildings, equipment
49,226,624
● Research
24,395,744
● Faculty resources
19,900,247
● Public services and extension
4,129,042
● Academic divisions
2,845,426
● Unrestricted University-wide
1,419,340
● Library resources
512,097
● Physical plant maintenance
158,278
Total $ 270,404,337 physical plant maintenance *This category includes gifts to the Children’s Miracle library funds, and gifts awaiting Network, THON, multipurpose designation by donors.
30.40%
unrestricted academic Public service Faculty Resources 32
Research
GROWTH IN PRIVATE SUPPORT AND DONOR BASE $270.4 290.3 240.3 322.7 202.9 229.9 226.0 271.1 237.8 208.7
$3O6.6 381.3 372.6 362.9 304.6 223.9 195.1 342.5 ’12
263.6
’13
’14 ’15
’16 ’17 ’18
’19 ’20 ’21
Gift Receipts
223.7
in millions of dollars
194,593 216,872 221,587 221,484 222,448 172,140 183,843 190,502 ’12
New Commitments
’13 ’14 ’15
’16 ’17 ’18
193,393
’19 ’20 ’21
191,712
in millions of dollars
’12
Number of Donors
33
’13 ’14 ’15
’16 ’17 ’18
’19 ’20 ’21
SUPPORT FOR PENN STATE STUDENTS GROWTH IN PHILANTHROPY-FUNDED SCHOLARSHIPS
(Fiscal year ending June 30, 2021)
$69,665,052 66,764,254 62,846,746 58,058,184 53,963,443
Information about the full University budget can be found on the Budget Office website at budget.psu.edu/openbudget/ default.aspx
52,241,547 46,639,345 49,331,066 37,655,516 42,667,819
’12 ’13
’14 ’15
’16 ’17
’18
’19
’20 ’21
.2%
STUDENT SUPPORT BY CATEGORY 2019–20* 19.9%
Aid type
● Loans
$1.27B
Total dollars
$707,825,012
● Grants
305,587,314
● Scholarships
252,051,601
● Federal Work-Study Total
3,308,224 $1,268,772,151
24.1% *2019–2020 is the most recent fiscal year for which complete information is available.
55.8%
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GIFTS DESIGNATED TO SPECIFIC UNITS 2020–21 Unit
Receipts
Abington
$945,163
$2,303,056
14,984,245
15,304,155
5,933,377
7,165,845
15,559,375
6,849,746
386,172
1,021,147
Agricultural Sciences Altoona Arts & Architecture Beaver Behrend
Committments
THE STATE’S SHARE OF PENN STATE’S BUDGET
11,936,222
10,869,061
Bellisario College of Communications
1,811,627
2,041,511
Berks
1,759,164
1,080,908
Year
552,006
1,938,876
2020–21
$6,973,809,000
1,398,765
1,524,278
398,319
734,571
2019–20
Earth & Mineral Sciences
19,181,933
14,368,743
Eberly College of Science
10,413,044
Brandywine Dickinson School of Law DuBois
Total Budget*
State Appropriation** Percent of Total $323,792,000
4.6%
6,809,655,000
323,792,000
4.8%
2018–19
6,485,590,000
313,967,000
4.8%
10,925,498
2017–18
5,675,676,000
304,823,000
5.4%
2016–17
5,141,704,000
301,833,000
5.9%
2015–16
4,901,693,000
294,949,000
6.0%
Education
3,886,858
9,330,148
Educational Equity
1,756,492
2,310,985
18,594,228
15,347,203
Fayette, The Eberly Campus
170,746
295,067
2014–15
4,638,793,000
277,931,000
6.0%
Great Valley
331,822
344,959
2013–14
4,415,596,000
275,931,000
6.3%
Greater Allegheny
451,483
1,389,840
2,889,121
4,303,322
2012–13
4,264,764,000
272,431,000
6.3%
603,017
588,132
2011–12
4,121,627,000
272,431,000
6.6%
Engineering
Harrisburg Hazleton Health & Human Development Hershey Information Sciences & Technology Intercollegiate Athletics Lehigh Valley Liberal Arts Mont Alto Nese Nursing
4,836,901
4,448,274
42,798,886
51,875,442
1,312,844
1,474,501
27,221,032
25,398,272
357,763
316,722
15,389,565
19,673,166
850,068
963,665
9,130,315
27,597,605
New Kensington
6,443,359
6,514,194
Online Education
1,120,862
2,281,338
Outreach
6,718,457
5,397,889
658,159
1,442,052
2,129,366
6,863,359
299,545
442,366
1,165,567
465,339
253,979
235,169
Penn State Law Schreyer Honors College Schuylkill Scranton Shenango Smeal College of Business
10,670,047
13,578,249
Student Affairs
2,025,872
1,844,505
Undergraduate Education
4,788,243
5,462,366
University Libraries
2,225,719
2,699,601
14,070,257
16,759,808
761,733
474,237
University-wide Wilkes-Barre York TOTAL
1,232,619
397,302
$270,404,337
$306,642,472
*Prior to 2017–18, total budget included the Penn State Milton S. Hershey Medical Center. Beginning in 2017–18, all operations of Penn State Health are included. Beginning in 2018–19, total budget includes permanent and temporary funds. **Excludes state and federal medical assistance funding provided to Penn State Milton S. Hershey Medical Center through the Pennsylvania Department of Human Services.
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C A M PA I G N E X E C U T I V E C O M M I T T E E
Richard S. Sokolov ’71 Lib, Chair
Robert E. Fenza ’80 A&A Vice Chair
MEMBERS Richard H. Bard ’69 Eng E. Lee Beard ’99h James S. Broadhurst ’65 Lib Richard K. Dandrea ’77 Lib Bryon G. Deysher ’77 Bus Elizabeth A. Fetter ’80 Com Naren K. Gursahaney ’83 Eng Edward R. Hintz ’59 Bus Helen S. Hintz ’60 HHD William A. Jaffe ’60 Com Gregory T. Lucier ’86 Eng J. Roger Moyer Jr. ’70 Bus Arthur J. Nagle ’61 Lib Robert E. Poole ’72 Bus Thomas J. Sharbaugh ’73 Bus Richard K. Struthers ’77 Bus
Fiscal Year 2020–21
Martha B. Jordan ’76 Bus Vice Chair
James B. Ingram ’79 Agr Vice Chair
EX OFFICIO MEMBERS Eric J. Barron President, Penn State Sara Thorndike Senior Vice President for Finance and Business/Treasurer, Penn State Nicholas P. Jones Executive Vice President and Provost, Penn State O. Richard Bundy III ’93 Lib, ‘96g Vice President for Development and Alumni Relations, Penn State
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Peter G. Tombros ’64, ’68g Agr, Vice Chair
Penn State Behrend
This publication can also be found on the web at: raise.psu.edu/presidents-report-on-philanthropy-and-endowments For more information about philanthropy at Penn State, contact: O. Richard Bundy III Vice President for Development and Alumni Relations The Pennsylvania State University 116 Old Main University Park, PA 16802-1501 814-863-4826 orb100@psu.edu
@RaisePennState
The Pennsylvania State University is committed to the policy that all persons shall have equal access to programs, facilities, admission and employment without regard to personal characteristics not related to ability, performance, or qualifications as determined by University policy or by state or federal authorities. It is the policy of the University to maintain an academic and work environment free of discrimination, including harassment. The Pennsylvania State University prohibits discrimination and harassment against any person because of age, ancestry, color, disability or handicap, genetic information, national origin, race, religious creed, sex, sexual orientation, gender identity, or veteran status and retaliation due to the reporting of discrimination or harassment. Discrimination, harassment, or retaliation against faculty, staff, or students will not be tolerated at The Pennsylvania State University. Direct all inquiries regarding this Nondiscrimination Policy to the Affirmative Action Director, The Pennsylvania State University, 328 Boucke Building, University Park, PA 16802-2801: tel. 814-863-0471/TTY. U. Ed. DEV 22-02 ajs
COLOPHON Cover: 100# Sterling Dull Cover FSC Text: 80# Sterling Dull Text FSC Typeface: Din 2014
FPO
