Kent State University 2012-2013 Generosity Report

Kent State University Foundation 2012-2013 Annual Report

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FOUNDATIONS of EXCELLENCE

BUILDING THE FUTURE

2012- 2013 ANNUAL REPORT OF THE KENT STATE UNIVERSITY FOUNDATION © 2013 Kent State University Foundation

Kent State University Foundation 2012-2013 Annual Report

WELCOME

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Celebrating Success and Moving Ahead CREATING A WORLD-CLASS LEGACY

building on success I am so proud to be part of the Kent State family. Every day for eight years, I’ve bounded out of bed, because I know I’ll be working with and for the finest academic community I’ve ever known. And every night, I’ve closed my eyes feeling inspired, because I’ve seen our community unite to make a good university a great one.

We’ve met our challenges in countless ways. We’ve built positive momentum that is unprecedented, unparalleled and, I believe, unstoppable. We’ve been committed to excellence, and to being the architects of our own destiny.

That’s led us to dream big dreams and bring them to life — for the sake of our students, our region and our state.

It’s also led to a transformation that will affect our future as much as the physical transformation of our campuses. You can feel it in the air: a renewed sense of pride, optimism and excitement. Leading Kent State into its second hundred years — and being part of so many milestone moments — has been the privilege of a lifetime.

I thank you, our donors, alumni and partners for helping us to forge a world-class university that will grow and flourish in the 21st century, and beyond.

Lester A. Lefton President, Kent State University

© 2013 Kent State University Foundation

Kent State University Foundation 2012-2013 Annual Report

WELCOME

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Celebrating Success and Moving Ahead CREATING A WORLD-CLASS LEGACY

ensuring future excellence The past year has infused the academic and local community with a new sense of confidence and optimism through a commitment to academic excellence and a vision to connect the university and the city of Kent both physically and philosophically.

Kent State represents a strong voice for a public higher education system that is characterized by both innovation and high standards, reaching unprecedented levels in enrollment, athletic achievement and fundraising. The Kent State University Foundation is committed to making sure that that legacy thrives and grows to meet the ongoing needs of generations of students to come.

From curricula to campus landmarks, Kent State is experiencing big and bold change. But here’s one thing that will not change: our role as a major academic, cultural, and economic resource for Ohio, the nation and the world. Your support has been critical to achieving a remarkable range of accomplishments. It’s ensuring an even more exciting future, because friends like you continue to care. Thank you.

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

© 2013 Kent State University Foundation

Kent State University Foundation 2012-2013 Annual Report

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building on success

a year to remember > $6.5 million for a new building for the College of Architecture and Environmental Design > Over $2 million for the College of Business > Over $1 million for entrepreneurship programs > $700,000 for a Mechatronics Laboratory in the new building for the College of Applied Engineering and Sustainable Technology > $700,000 for Kent State at Salem for a Health and Sciences wing

view the year in review video at

> $250,000 for the transformation initiative at Kent State at Ashtabula and $400,000 for scholarships in nursing or science

www.youtube.com/xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Š 2013 Kent State University Foundation

Kent State University Foundation 2012-2013 Annual Report

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Kasia D. Gibbs Jessica M. Barach Tyler Carey Jessica Pugliese

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Scholarships – impacting lives and ensuring bright futures 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. But 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. 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 funds that grow over time; spendable 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.

© 2013 Kent State University Foundation

Kent State University Foundation 2012-2013 Annual Report

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Kasia D. Gibbs Jessica M. Barach Tyler Carey Jessica Pugliese

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Kasia D. Gibbs Since becoming a Fashion Merchandising major, junior Kasia Gibbs has dreamed of studying abroad. Finances had made that dream impossible until she was awarded The Robert Broadbent Endowed Scholarship.

“Because of the generosity of these donors, I will be able to travel to Hong Kong and pay for my room and board,” Kasia said. “They’ve made my dream a reality.”

Kasia puts a lot of effort into being a well-rounded and involved Kent State University student. Among other activities, she is involved in the Peer Mentor for Connect2Complete Program; is Fashion Editor for Kent State’s student-run Uhuru magazine (an award-winning student-run magazine focused on matters concerning minorities, with an emphasis on the Pan-African experience); a Kent State Student Ambassador; the president of MODISTA, the minority fashion group on campus; a member of the National Society of Collegiate Scholars; and a member of the Oscar Ritchie Scholars Guild.

One of the most significant impacts she has made since coming to Kent State has been her involvement with others.

“Other undergraduate women have told me I’m their rolemodel,” Kasia said. “I’ve been given many opportunities since I’ve been at Kent State and all I’ve wanted to do is give back. So when I hear this from them, it really means a lot to me.”

This scholarship is a great opportunity Kasia will make the most of. While in Hong Kong, she will learn first-hand how different cultures view fashion. But she realizes the experience will be about much more than academics.

“I’ve never been out of the country,” Kasia said. “Since I plan on getting my master’s in Fashion Styling in Italy, this will help me become more independent and live in a country so different from my own. This experience will truly help me grow as a person and it wouldn’t be possible without this scholarship.”

© 2013 Kent State University Foundation

Kent State University Foundation 2012-2013 Annual Report

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Kasia D. Gibbs Jessica M. Barach Tyler Carey Jessica Pugliese

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Jessica M. Barach Jessica Barach is a great example of how our regional campuses and online programs, as well as our scholarships, are helping students not only achieve their goals but also expand them beyond anything they had ever contemplated.

Jessica, who has lived with her retired grandparents and younger sister since her parents passed away, works part-time and like many students, struggles with tuition. Thanks to The Dr. John W. Hayes Scholarship, Jessica can worry a little less about money and focus more on her goals and her studies.

In addition to her studies, Jessica, who is currently working toward an associate’s degree in nursing, volunteers with the Jefferson County Humane Society. She also recently joined the Kent State Student Nurses’ Association and looks forward to the community service activities the Association is involved in. She also works part-time as a Patient Advocate in the Emergency Room at a local medical center.

Her schedule is more than full and often hectic, but the scholarship is validation for Jessica that her hard work is paying off. She also says it as a blessing for her and her family.

“This scholarship has taken so much stress off my grandparents and me,” Jessica said. “I will strive to represent Dr. John Hayes everyday by being the best nursing student I can be.”

Since high school Jessica planned to study to become a nurse and her mother was her inspiration.

“My mother was a nurse and I saw how happy it made her to help people,” Jessica said. “I think because of that, I’ve always had a desire to learn about medicine and to help people too.”

When tragedy struck, Kent State helped make it possible for Jessica to continue to pursue her goals.

“My senior year in high school I was all set to attend and live on the main Kent State campus,” Jessica said. “But when my parents passed away in December of my senior year, it was important to me to stay close to my little sister. By attending classes at the East Liverpool campus and taking advantage of everything Kent State offers on-line I was able to continue to pursue my goals while being close to her.”

In addition, the assistance Jessica has received has helped to increase her confidence and expand her career plans beyond anything she had considered before.

“My goal has always been to obtain my RN-BSN and attend then graduate school to become a nurse anesthetist,” Jessica said.

“But for the first time, I’m even considering medical school!”

© 2013 Kent State University Foundation

Kent State University Foundation 2012-2013 Annual Report

Welcome

student scholars

Kasia D. Gibbs Jessica M. Barach Tyler Carey Jessica Pugliese

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student scholars

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Tyler Carey Broadcast Journalism major Tyler Carey is a second-generation Kent State University Golden Flash. But being a legacy is not the only thing that attracted Tyler to Kent State.

“My family and I were amazed by the School of Journalism and Mass Communication’s faculty and facilities,” Tyler said. “We also like the campus setting and surrounding areas, including downtown Kent. I feel Kent State offers everything I need in order to ensure a successful future.”

One of the things helping ensure Tyler’s success is the CarringerCable Honors Scholarship in Journalism and Mass Commination.

Tyler, who is involved with Kent State’s nationally award-winning, student-run television station, TV2, currently attends many of Kent State’s sporting events. He hopes to expand his experience by becoming involved with other journalism projects throughout his time at Kent State as well. This experience, combined with the scholarship, will help Tyler on his way to success.

“This award will help me to achieve the goals I set for myself a long time ago,” said Tyler. “I have had aspirations to become a sports radio or television broadcaster for years; this award helps me to believe I can do just that.”

“I was honored to receive such a prestigious award as an incoming freshman,” Tyler said. “I also appreciate this award because it will provide much-needed financial assistance; without the scholarship, I would have had additional loans.”

© 2013 Kent State University Foundation

Kent State University Foundation 2012-2013 Annual Report

Welcome

student scholars

Kasia D. Gibbs Jessica M. Barach Tyler Carey Jessica Pugliese

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student scholars

financials

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Jessica Pugliese Being a full-time student, wife and mother to a two-year-old is challenging. But Kent State University student, Jessica Pugliese, still anticipates graduating in spring 2015. Jessica’s hard work and dedication to her future are two reasons her goal is in sight.

But another tremendous factor in her success is the scholarships she has received.

Jessica, who is the first in her family to attend college, is majoring in mathematics in the College of Education, Health, and Human Services and hopes to teach high school math.

She is extremely grateful for the scholarships she has received, including the Katharine Ann Wagnitz Scholarship.

Well into her college career, this is the first semester Jessica has received scholarships.

“When I found out I was awarded Ann’s scholarship, I danced around my kitchen,” Jessica said. “My student loans will be staggering when I’m finished. This scholarship – and the alumni scholarship I’m also receiving – will help lessen that burden.”

Jessica is a non-traditional student. Her husband works full-time on third shift so that he can take care of the couple’s two-yearold daughter, Charlotte, as much as possible while Jessica attends class. It has been a long, demanding road for Jessica, but now that she can see the light at the end of the tunnel she is anxious to finish. So anxious, in fact, that she met the requirements and received the necessary authorization to take a course overload during the Fall 2013 semester – 18 hours – while also tackling her student teaching shadowing requirement. She willingly took on this overload to ensure she is ready to complete her student teaching assignment in spring 2015.

Ann Wagnitz, Jessica’s benefactor, was also a dedicated student.

She loved her classes and remembers the many hours she spent

in the old library (which now houses the Fashion School and the Kent State University Museum). Ann graduated from Kent State in 1969 with a Bachelor’s of Science in Education, minoring in Speech, and also graduated in 1979 with a Master’s of Education in Library/Media. Ann had a very successful 30-year teaching career in media, speech, English, theatre and library science in the Berea City School District, Polaris Joint Vocational School and the Akron City Schools. Currently, Ann enjoys instructing adults in new media technology.

Kent State helped Ann thrive in her career and giving back was important to her. She has included Kent State in her will through Kent State’s Center for Gift and Estate Planning and will establish support for students through a scholarship. But in addition to leaving a Kent State legacy, Ann also wanted to also do something now, so she can see for herself the effect her gifts are having. That’s why she also established the Katharine Ann Wagnitz Scholarship.

Jessica and Ann recently met for the first time. Jessica is the first student recipient of her scholarship that Ann has been able to meet face-to-face and it was a fulfilling meeting for both.

“I’m so thankful you wanted to meet me,” Jessica told Ann. “It means a lot to me to be able to say ‘thank you’ in person to you.

People like you are so important. You don’t know how much this assistance means to me and my family.”

Ann is grateful as well. She is grateful that she can help lessen the load for students by supporting them through her scholarships. And she also appreciated the opportunity to meet Jessica. Throughout the meeting, the expression on Ann’s face was clear – tremendous joy in knowing the impact she is making on Jessica’s and other students’ lives.

© 2013 Kent State University Foundation

Kent State University Foundation 2012-2013 Annual Report

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financials

ASSETS AND DISBURSEMENTS 2012 – 2013 fiscal year

assets & disbursements statements of financial position statement of activities 2013 statement of activities 2012

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foundation assets

foundation support to kent state

in millions, for fiscal year 2012 – 2013

in millions, for fiscal year 2012 – 2013

2009

2010

117.4

2009

68.4 124.6

20010

76.7 140.4

2011

2011

90.4 136.7

2012

2012

85.3 163.5

2013

94.6

TOTAL ASSETS

ENDOWED ASSETS

2013

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18.1 2.8 15.2 2.3 14.0 2.8 10.2 3.1 10.5 3.1

OTHER DISBURSEMENTS

SCHOLARSHIPS AWARDED

© 2013 Kent State University Foundation

Kent State University Foundation 2012-2013 Annual Report

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statements of financial position june 30, 2013 and 2012

assets & disbursements statements of financial position statement of activities 2013 statement of activities 2012

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ASSETS Cash and cash equivalents Receivables Pledges Other

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2013 2012 $

1,309,370

$

11,104,445 ---- 11,104,445

Investments Long-term pool Short-term pool Charitable remainder trusts Other

Note receivable

612,567 5,945,677 240,215 6,185,892

125,846,251 3,407,205 5,708,428

1,000 134,962,884

Beneficial interest in trusts held by others

Property, net of depreciation

financials

student scholars

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

383,639

425,013

14,076,614

4,054,962

1,681,448 $ 163,518,400

1,490,553 $ 136,682,106

$

$

LIABILITIES AND NET ASSETS Liabilities Accounts payable Line of credit borrowings Funds held for others Actuarial liabilities

Annuities

Charitable remainder trusts

Net assets Unrestricted Temporarily restricted Permanently restricted

97,983 10,000,000 8,600,757 2,321,670 2,527,070 23,547,480

6,877,557 99,584,064 33,509,299 139,970,920 $ 163,518,400

85,272 4,055,320 6,842,067 2,257,593 2,566,398 15,806,650

5,211,629 83,988,655 31,675,172 120,875,456 $ 136,682,106

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Kent State University Foundation 2012-2013 Annual Report financials assets & disbursements statements of financial position statement of activities 2013 statement of activities 2012

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STATEMENT OF ACTIVITIES year ended june 30, 2013

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 Investment pool operator fee Endowment spending distributions Other support for Kent State University Total release of restrictions

$

69,267 $ 11,302,410 $ 999,029 $ ---- 1,024,513 ---- 13,849 6,541,741 141,185 83,116 18,868,664 1,140,214 (2,930) (1,524,750) (10,327) 80,186 17,343,914 1,129,887

12,370,706 1,024,513 6,696,775 20,091,994 (1,538,007) 18,553,987

1,146,451 2,140,835

2,130,121 10,392,386

---- ----

3,276,572 12,533,221

---- 3,287,286

(891,148) 11,631,359

---- ----

(891,148) 14,918,645

240 (424,000) ----

---- 38,752 (78,979)

---- 385,248 318,992

240 ---240,013

1,237,245 (1,237,245) 4,066,176 (4,066,176) 8,036,216 (8,036,216) 13,339,637 (13,339,637) 16,283,349 15,595,409

---- ------- ------- ------- ---1,834,127 33,712,885

Expenses and losses Grants for Kent State University Academics Athletics WKSU Fundraising

Administration Depreciation

8,574,982 1,019,663 2,273,333 1,770,567 13,638,545 969,771 9,105 14,617,421

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

---- 8,574,982 ---- 1,019,663 ---- 2,273,333 ---- 1,770,567 ---- 13,638,545 ---- 969,771 ---- 9,105 ---- 14,617,421

Change in net assets

1,665,928 15,595,409 1,834,127 19,095,464

Net assets beginning of year

5,211,629

83,988,655

31,675,172

120,875,456

$ 6,877,557

$ 99,584,064

$ 33,509,299

$ 139,970,920

Net assets at end of year

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Kent State University Foundation 2012-2013 Annual Report financials assets & disbursements statements of financial position statement of activities 2013 statement of activities 2012

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STATEMENT OF ACTIVITIES year ended june 30, 2012

Unrestricted

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 Investment pool operator fee Endowment spending distributions Hotel and Conference Center Other support for Kent State University Total release of restrictions

Restricted Temporarily Permanently Total

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)

---- ----

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

---- (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)

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

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)

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

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

Expenses and losses Grants for Kent State University Academics Athletics

WKSU Fundraising

Administration Depreciation

Change in net assets Net assets at beginning of year Net assets at end of year

$

9,388,386 515,602 2,341,611 1,059,643 13,305,242 665,119 1,214 13,971,575

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

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

9,388,386 515,602 2,341,611 1,059,643 13,305,242 665,119 1,214 13,971,575

(443,550)

(8,060,343)

308,329

(8,195,564)

5,655,179

92,048,998

31,366,843

129,071,020

5,211,629

$ 83,988,655

$ 31,675,172

$ 120,875,456

Š 2013 Kent State University Foundation

Kent State University Foundation 2012-2013 Annual Report

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2012–2013 board of directors

LEADERSHIP

At Large Members James W. Arthur, ‘62 TransOhio Properties Harvey J. Bazaar, ‘62 Caldwell, New Jersey Christopher P. Bray, ‘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 Robert J. DiDiano, ‘87 Wachovia Wealth Management, Northeast Region Barbara A. Donaho, ‘92 St. Anthony’s Hospital Timothy D. Eippert, ‘92 MC Sign Company John R. Elliot, ‘70 AMFM LLC Barry E. Fetterman, ‘74, ‘76 Sirach Capital Management Inc.

Steffany Matticola Larkins, ‘92 Medical Mutual

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

Richard H. Marsh, ‘73 FirstEnergy Solutions Corp.

James M. Pazderak, ‘74 Covenant Financial Group Ltd. 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. Maria E. Schneider, ‘86 Premier Segment, Institutional Relationships, TIAA-CREF Richard D. Selip Grand River Rubber & Plastics Co. David J. Sibits, ’72 CBIZ Inc.

Trustee Representative Richard H. Marsh, ‘73 FirstEnergy Solutions Corp.

Assistant Vice President of Alumni Association Lori A. Randorf, ‘99 Assistant Vice President Executive Officers of Kent State University Dr. Lester A. Lefton President Dr. Todd A. Diacon Senior Vice President and Provost

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

Stephanie Danes Smith, ‘79 TrueNorth Strategies LLC School of Journalism and Mass Communications

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

Donald L. Stallard, ‘68 The Reserves Network

Gregg S. Floyd Vice President, Finance and Administration

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

Buzz Starner, ‘67 Starner Sales & Marketing

Presidential Appointments

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

J. Todd Walters, ‘81 Security One Lending

Nora C. Jacobs, ‘73 Hennes Paynter Communications

Robert W. Woolf, ‘65 Chemi-Troll Chemical Company

Gene Finn Vice President, Institutional Advancement

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

© 2013 Kent State University Foundation

Kent State University Foundation 2012-2013 Annual Report

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Create a legacy, and help us build the future! visit www.GiveToKent.org today.

Š 2013 Kent State University Foundation