Kent State University 2011-2012 Generosity Report

Kent State University Foundation 2011-2012 Annual Report

Welcome

building on success

student scholars

financials

leadership

donate

FOUNDATIONS of EXCELLENCE

BUILDING THE FUTURE

2011-2012 ANNUAL REPORT

OF THE KENT STATE UNIVERSITY FOUNDATION

2012 © Kent State University Foundation

Kent State University Foundation 2011-2012 Annual Report

WELCOME

Welcome

building on success

student scholars

financials

leadership

donate

Celebrating Success and Moving Ahead CREATING A WORLD-CLASS LEGACY

Celebrating Success and Moving Ahead With the end of the enormously successful Centennial Campaign – in which the university raised in excess of a record-breaking $265 million – Kent State will begin the next phase of a significant transformative plan, in which private philanthropy will be the key to our ongoing growth. Surpassing our goal was the result of a university and community wide commitment. Now we’re looking forward – with the goal of building on the momentum we’ve achieved – to strengthen our endowment and bring it to a new level to meet future needs as part of our new Foundations of Excellence initiatives.

Kent State is widely recognized as one of the world’s finest public research universities and as an institution that is helping Northeast Ohio compete and succeed. As we look to the future, our academic community is committed to maintaining – and raising – the high standards of scholarship and service we have set for ourselves.

We simply could not have come this far without the support of our donors, partners and alumni. To all those who contributed to the enormous successes of the past year, thank you. We look forward to working with you in the days ahead, forging Kent State into a state-of-the-art academic environment that will meet the needs and expectations of the 21st-century student.

Lester A. Lefton President, Kent State University

2012 © Kent State University Foundation

Kent State University Foundation 2011-2012 Annual Report

WELCOME

Welcome

building on success

student scholars

financials

leadership

donate

Celebrating Success and Moving Ahead CREATING A WORLD-CLASS LEGACY

Creating a World-Class Legacy The Kent State University Foundation works in partnership with the university to support its needs and priorities by managing private contributions and exercising careful stewardship of assets. The core philosophy of the foundation is to assist the university in providing exceptional educational opportunities through scholarships, capital projects, faculty research and experiential learning initiatives.

Our goal is for the financial assets of the foundation to grow over time, so that the impact of these resources will provide aid to the university equal to its need. Your gifts enable Kent State to achieve levels of excellence not possible through state assistance alone.

The university is experiencing a period of unprecedented growth as we embark on a major initiative to transform each of our eight campuses into everything a world-class modern campus should be. Your support has been crucial to our success. Your partnership going forward will help us create a legacy for deserving students into the next century.

Lawrence R. Armstrong Chair, Kent State University Foundation Board of Directors

2012 Š Kent State University Foundation

Kent State University Foundation 2011-2012 Annual Report

Welcome

building on success

student scholars

financials

leadership

donate

building on success

Centennial Campaign gifts that continue to give > $13.5 million in software for the College of Technology from Appropriate Technology > $6.5 million for the Roe Green Center for the Arts > $6 million for the Robert S. Morrison Health and Science Center at Kent State Ashtabula > $3 million to the new School of Digital Sciences from the Enterprise Architecture Center of Excellence

click here to view the Centennial Campaign video

2012 Š Kent State University Foundation

Kent State University Foundation 2011-2012 Annual Report

Welcome

student scholars

Deona Miller Freddy Cortez Hanna Madson Jesse Markowitz

building on success

student scholars

financials

leadership

donate

Scholarships – making the dream a reality The single largest obstacle to student success is the financial aspect of their education. And the best tools we have to combat those financial challenges are scholarships, which are a key focus of our fundraising efforts. As a result of the Centennial Campaign, 600 new scholarships have been established. Yet the need for private support continues to grow, as enrollments increase and state support dwindles.

The gift of knowledge is priceless, and the lack of financial resources shouldn’t hinder its acquisition. Education is an investment in the future of our society, and scholarships fuel the engine that moves us forward.

There are so many ways to make an impact: with need-based, merit-based or talent-based scholarships; education abroad grants and graduate fellowships; or athletic scholarships. There are also many ways to give: endowed named funds that grow over time; spendable award funds that provide steady support; or planned gifts that help meet long-term needs. Each one can make a real difference in a student’s life, and their future.

2012 © Kent State University Foundation

Kent State University Foundation 2011-2012 Annual Report

Welcome

student scholars

Deona Miller FreddY Cortez Hanna Madson Jesse Markowitz

building on success

student scholars

financials

leadership

donate

deona miller – achieving the unimaginable Deona Miller was born in the Republic of Cape Verde, an island country off the coast of Western Africa. Tough economic times during the decades following its independence from Portugal led many of its residents to emigrate to Europe and the Americas. At age four, Deona was one of those immigrants.

Unfortunately, her parents did not find the dreams they were seeking in America. The years between Deona’s childhood and her teens were fraught with emotional and physical turmoil: her father’s imprisonment and death, her mother’s drug addiction, and abuse in the home. Deona moved from place to place, living with friends or relatives, ultimately becoming a ward of the state. At 16, working and struggling to get through high school, she went before the court. “I told the judge I didn’t have the money to become emancipated.

So I said, if I bring you proof of income, if I bring you my report card, will you please let me be out on my own? And he allowed it,” she says with amazement.

But her struggles didn’t end once she graduated from high school and went to work. Says Deona, “[College] wasn’t part of the working world, and I never thought I would actually be able to go. But when I noticed that a lot of my peers were in school, I had a desire for more.”

While working as a 911 dispatcher, Deona met a retired air traffic controller who told her she worked so well under pressure that she should consider it as a career. Says Deona, “I didn’t even know what an air traffic controller was! So I looked into it and saw that I could get a four-year degree and have a career afterwards. There are only about 20 schools in the country that offer the program [in aeronautics], and Kent State is one of the top three.”

The financial aid Deona received has made a tremendous difference in her life at Kent State. “My first year, I didn’t really know about the resources available to me. I went to my advisor asking about books, because they were so expensive. I just didn’t have the money,” she says. “So he called me into his office one day and said he had some good news. He told me that I’d received an endowment [the Lillian Keller Endowment] to cover my books. I was just floored. I didn’t apply for anything, I didn’t ask. I’m so thankful. It helps so much.”

Deona understands very well how important it is to give back. She says, “I want to be here, so to have the opportunity is awesome.

I want to be able to give students who don’t necessarily have the means a chance. I know how it is to want to do something but you can’t because you have limitations. But giving back relieves some of those limitations. You never know how far a person can go. A lot of the time I just can’t believe that I’ve made it this far, but I know that I wouldn’t have been able to do it without help.”

2012 © Kent State University Foundation

Kent State University Foundation 2011-2012 Annual Report

Welcome

student scholars

Deona Miller FreddY Cortez Hanna Madson Jesse Markowitz

building on success

student scholars

financials

leadership

donate

Freddy Cortez – Taking advantage of opportunities Marketing major Freddy Cortez is a stand-out kicker for the Kent State Golden Flashes football team — the career leader in points (275) and in field goals made (51). He is also the recipient of the James S. Crisp Endowed Athletic Scholarship. Without it he never would have been able to attend college. The second of six children raised by a single mother in Ft. Meade, Florida, everyone in the family had to work hard every day just to get by. College wasn’t an option. “It’s hard to explain in words how much my scholarship has meant to me,” says Cortez. “It’s given me the opportunity to get an education, the privilege of playing ball, and at the end of the day I don’t have to worry about my mom getting a bill in the mail. And when I get out of college I can earn a living and not have to worry about any debt that I owe.”

Head football coach Darrell Hazell has made an impact on Cortez’s attitude and his life. “He’s taught me to be an overachiever. You have days when you want to settle for average, but to get better you have to do better,” says Cortez. “It’s been the same thing with my scholarship. I want it and so I work hard and take advantage of the opportunities it brings.”

A coach and a mentor, Hazell has also taught Freddy the value of hard work, resilience and self-confidence. Says Cortez, “Coach has taught us that the man you become comes from discipline and dedication. Football only lasts so long. I want a 9 to 5 job – a career.

That’s why I’m so glad about my scholarship. When football is done, I’m prepared for my future.”

2012 © Kent State University Foundation

Kent State University Foundation 2011-2012 Annual Report

Welcome

student scholars

Deona Miller FreddY Cortez Hanna Madson Jesse Markowitz

building on success

student scholars

financials

leadership

donate

Hanna Madson – A passion for how things work From salt marshes to fields to forests, Hanna Madson has trekked over 6,000 miles in search of the “whys” and “hows” of plant life.

Thanks to the Clinton and Olive Hobbs Scholarship in Plant Science, her journey was made a little easier. Says Hanna, “I’ve done two major field surveys to study native Lobelia. I’m trying to find out why the female plants only grow in a limited area in the U.S. and can be very rare in other places within the species range. It’s extremely complex work, but that’s what I like about it.”

Hanna became hooked on biology in high school, and was encouraged by a teacher who spent time with her after class explaining topics in more detail. “Once the possibilities opened up to me, I wanted to understand everything,” she says. A professor in college suggested she study ecology because it was challenging and “not boring like medicine.” Hanna is also an accomplished violinist, playing classical and folk music since the age of four.

Hanna’s father was an engineer with Hewlett Packard, so the family moved around a great deal while she was growing up. She was born in Massachusetts, and has lived in Oregon, California, Missouri and Singapore, and eventually attended college in Middlebury, Vermont. Hanna recently completed her master’s degree in Ecology and Evolutionary Biology at Kent State. She jokes, “My dad changed careers later in life and is finishing up his studies to become a pastor. My mom loves to introduce us to people as ‘My husband the pastor and my daughter the evolutionary biologist.’”

Hanna would like to continue her role as a researcher, in a university lab or botanic garden. But no matter where she ends up in the world, she is determined to unlock a few biological mysteries along the way, and there is no doubt in her mind that she will.

2012 © Kent State University Foundation

Kent State University Foundation 2011-2012 Annual Report

Welcome

student scholars

Deona Miller FreddY Cortez Hanna Madson Jesse Markowitz

building on success

student scholars

financials

leadership

donate

jesse markowitz – Bright lights and big dreams Unlike many students, Jesse Markowitz knew exactly what he wanted to do after high school – go to college and study musical theater. There were only three schools that he considered applying to and Kent State University was one of them. Says Jesse, “Once I came to campus, I fell in love.”

On the recommendation of a friend who was involved in Student Ambassadors [where students act as liaisons between the university and its guests at campus events], Jesse joined the program his freshman year. His interest, enthusiasm and energy promptly earned him the Anita D. Herrington Outstanding New Ambassador Scholarship. “I was shocked when they called my name,” he says, “I really didn’t expect it at all. The award went toward my tuition for two semesters.”

Markowitz grew up in Orange, Ohio, and spent most summers working in his family’s restaurant, Jack’s Deli, in University Heights. “My dad calls me the ‘CEO’ of the place, but I’m really the manager,” says Markowitz. As much fun as the restaurant has been, the stage is where Jesse feels most at home.

The best part about the theater program at Kent State, he says, is the faculty. “They make an outstanding program even better.

They’re on a first-name basis with the students. They do more than just teach classes – one took me shopping for career clothes!

They’re not just professors, the faculty here take care of your wellbeing, and invest in your life, which I don’t see anywhere else.”

And after graduation? It’s off to New York, where he’ll beat the boards and build his career. All part of the plan to make his dreams a reality, helped by a scholarship that gave him a great start.

2012 © Kent State University Foundation

Kent State University Foundation 2011-2012 Annual Report

Welcome

financials

assets & disbursements statements of financial position statement of activities 2012 statement of activities 2011

building on success

student scholars

financials

leadership

donate

ASSETS AND DISBURSEMENTS 2011 – 2012 fiscal year foundation assets

foundation support to kent state

in millions, for fiscal year 2011 – 2012

in millions, for fiscal year

140.4

2008

2009

2010

80.4 117.4

2009

68.4 124.6 76.7 140.4

2011

90.4 136.7

2012

85.3

TOTAL ASSETS

2008

ENDOWED ASSETS

2010

2011

2012

13.7 2.7 18.1 2.8 15.2 2.3 14.0 2.8 10.2 3.1

OTHER DISBURSEMENTS

SCHOLARSHIPS AWARDED

2012 © Kent State University Foundation

Kent State University Foundation 2011-2012 Annual Report

Welcome

financials

assets & disbursements statements of financial position statement of activities 2012 statement of activities 2011

building on success

financials

student scholars

leadership

donate

statements of financial position june 30, 2012 and 2011 ASSETS Cash and cash equivalents Receivables Pledges Other

2012 2011 $

Investments Long-term pool

Short-term pool Charitable remainder trusts Other

Beneficial interest in trusts held by others Note receivable Property, net of depreciation

612,567

$

864,416

5,945,677 240,215 6,185,892

7,506,848 375 7,507,223

111,028,141 7,452,578 5,429,400 3,000 123,913,119

114,780,646 8,627,806 6,720,267 4,000 130,132,719

425,013

479,355

4,054,962

----

1,490,553 $ 136,682,106

1,463,706 $ 140,447,419

$

$

LIABILITIES AND NET ASSETS Liabilities

Short term borrowings Accounts payable

Funds held for others Actuarial liabilities

Annuities

Charitable remainder trusts

Net assets

Unrestricted Temporarily restricted Permanently restricted

4,055,320 85,272 6,842,067

---100,812 7,088,277

2,257,593 2,566,398 15,806,650

1,389,531 2,797,779 11,376,399

5,211,629 83,988,655 31,675,172

5,655,179 92,048,998 31,366,843 2012 Š Kent State University Foundation

Kent State University Foundation 2011-2012 Annual Report

Welcome

financials

assets & disbursements statements of financial position statement of activities 2012 statement of activities 2011

building on success

student scholars

financials

leadership

donate

STATEMENT OF ACTIVITIES year ended june 30, 2012

Restricted Unrestricted Temporarily Permanently Total

Revenue and Support

Gifts Cash and securities Events and other Net change in pledges receivable

Losses on pledges receivable

Investment income Interest and dividends Investment gains and losses Investment income allocated to other beneficiaries

of funds held for others

Sales, services, events, and other Changes in designation of prior contributions Change in actuarial liabilities Release of restrictions Administrative fees

Spending distribution Hotel and conference center Other support for Kent State University Total release of restrictions

$

62,549 $ 10,574,515 $ ---- 317,108 (7,954) (317,907) 54,595 10,573,716 (3,709) (1,332,719) 50,886 9,240,997

870,504 $ ---- 177,297 1,047,801 (76,179) 971,622

11,507,568 317,108 (148,564) 11,676,112 (1,412,607) 10,263,505

595,413 (955,493)

2,114,021 (4,920,737)

---- ----

---- (360,080)

33,454 (2,773,262)

---- 33,454 ---- (3,133,342)

35,576 141,238 ----

---- (532,830) (334,843)

---- 391,592 (1,054,885)

1,140,667 (1,140,667) 3,373,739 (3,373,739) 767,003 (767,003) 8,378,996 (8,378,996) 13,660,405 (13,660,405) 13,528,025 (8,060,343)

2,709,434 (5,876,230)

35,576 ---(1,389,728)

---- ---- ---- ---- ---- 308,329

---------------5,776,011

---- ---- ---- ----

9,388,386 515,602 2,341,611 1,059,643

Expenses and losses Support for Kent State University Academics Athletics WKSU

Fundraising

9,388,386 515,602 2,341,611 1,059,643

---- ---- ---- ----

2012 Š Kent State University Foundation

Kent State University Foundation 2011-2012 Annual Report

Welcome

financials

assets & disbursements statements of financial position statement of activities 2012 statement of activities 2011

building on success

student scholars

financials

leadership

donate

STATEMENT OF ACTIVITIES year ended june 30, 2011

Restricted Unrestricted Temporarily Permanently Total

Revenue and Support

Gifts Cash and securities Events and other Net change in pledges receivable

Losses on pledges receivable

Investment income Interest and dividends Investment gains Investment loss allocated to other beneficiaries

of funds held for others

Sales, services, events, and other Changes in designation of prior contributions Change in actuarial liabilities Release of restrictions Administrative fees

Spending distribution Other support for Kent State University Total release of restrictions

$

56,862 ---- 19,376 76,238 (9,356) 66,882

$ 12,913,772 $ 763,506 (1,038,679) 12,638,599 (688,797) 11,949,802

373,376 $ 13,344,010 25,000 788,506 (26,013) (1,045,316) 372,363 13,087,200 (20,751) (718,904) 351,612 12,368,296

834,569 3,627,191

2,307,610 14,406,565

---- ----

3,142,179 18,033,756

---- 4,461,760

(1,423,597) 15,290,578

---- ----

(1,423,597) 19,752,338

27,815 2,921 ----

---- 84,545 (68,885)

---- (87,466) 725,838

27,815 ---656,953

1,123,906 (1,123,906) 3,499,544 (3,499,544) 11,910,272 (11,910,272) 16,533,722 (16,533,722) 21,093,100 10,722,318

---- ------- ------- ------- ---989,984 32,805,402

Expenses and losses Support for Kent State University Academics Athletics

WKSU

Fundraising

11,232,336 450,637 3,624,043 1,553,378 16,860,394

---- ---- ---- ---- ----

---- ---- ---- ---- ----

11,232,336 450,637 3,624,043 1,553,378 16,860,394

2012 Š Kent State University Foundation

Kent State University Foundation 2011-2012 Annual Report

Welcome

building on success

student scholars

financials

leadership

donate

2011–2012 board of directors

LEADERSHIP

At Large Members Lawrence R. Armstrong, ‘79, ‘80 Ware Malcomb James W. Arthur, ‘62 TransOhio Properties Harvey J. Bazaar, ‘62 Caldwell, New Jersey Gary L. Brahler, ‘89 Polcar Brahler Heil Belden Wealth Management Group of Wells Fargo Advisors Christopher P. Bray Esq., ‘89 Willow Street Advisors LLC John S. Brinzo, ‘64 Cleveland-Cliffs Inc. Edmund D. Cooke Jr., ‘65 Gordon & Rees LLP R. Douglas Cowan, ‘64 The Davey Tree Expert Company

Nora C. Jacobs, ‘73 Hennes Paynter Communications

At Large Members Representing Alumni Association

Judie Fall Lasser, ‘00 Hudson, Ohio

John F. Garofalo, ‘87, ‘93 Akron Community Foundation

Craig D. Lucas, ‘86 Corporate United

Maria E. Schneider, ‘86 Premier Segment, Institutional Relationships TIAA-CREF

Dr. Linda M. Neiheiser, ‘90, ‘00 Cleveland Municipal School District James M. Pazderak, ‘74 Covenant Financial Group Ltd. Ronald A. Pizzuti, ‘62 The Pizzuti Companies Robert G. Risman Burton Carol Management LLC Dr. Catherine L. Ross, ‘71 Georgia Tech College of Architecture Robert E. Ross, ’70 Robert W. Baird & Co.

Trustee Representative Jane Murphy Timken Timken Family LLC Executive Director of Alumni Association Lori A. Randorf, ‘99 Executive Director

David J. Sibits, ’72 CBIZ, Inc.

Executive Officers of Kent State University

Stephanie Danes Smith, ‘79 TrueNorth Strategies, LLC

Dr. Lester A. Lefton President

Donald L. Stallard, ‘68 The Reserves Network, Inc.

Dr. Todd A. Diacon Senior Vice President and Provost

Buzz Starner, ‘67 Massillon, Ohio

Gene Finn Vice President, Institutional Advancement

Richard J. Frenchie, MBA, FACHE Chagrin Falls, Ohio

Michael T. Strebler Chief Financial Officer Kent State University Foundation Inc.

Gregg S. Floyd Vice President, Finance and Administration

Roe Green, ‘80 The Roe Green Foundation

F. Carl Walter, Jr., ‘73 Chess Financial Corporation

Presidential Appointments

Cathy D. Hemming, ‘70 Cathy D. Hemming Literary Agency LLC

J. Todd Walters, ‘81 Security One Lending

Peter M. Holway, ‘82 Hirtle, Callaghan & Company

Robert W. Woolf, ‘65 Fremont, Ohio

Dr. Daniel F. Mahony Dean, College of Education, Health and Human Services

Robert J. DiDiano, ‘87 Wells Fargo Private Bank Barbara A. Donaho, ‘92 Stow, Ohio Timothy D. Eippert, ‘92 MC Sign Co. Barry E. Fetterman, ‘74, ‘76 Bainbridge Island, Washington

Dr. Candice A. Hughes, ‘70, ‘72 Bridging Cultures Inc.

2012 © Kent State University Foundation

Kent State University Foundation 2011-2012 Annual Report

donate

Welcome

building on success

student scholars

financials

leadership

donate

Create a legacy, and help us build the future!

GIVE TO KSU

2012 Š Kent State University Foundation