Jacqueline L. Lawson Morgan State University Class of 1975
Morgan State University has a prominent place on the higher education landscape here in Maryland and beyond, and as an alumna, I feel an enormous sense of pride and accomplishment. The University is experiencing tremendous growth, which, in turn, provides a widespread opportunity for our students as they prepare to Lead the World.
Our guiding light continues to be the University’s strategic plan, Transformation Morgan: Leading the Future, and its goals for 2021–2030. Supporting Morgan’s transformation is the essence of our work. To help us achieve these goals, the University hired a new Vice President for Institutional Advancement, who also serves as the Executive Director of the Foundation. We welcome Endia DeCordova and her expertise as she hones our efforts.
Our flexibility and resilience were on full display in response to unforeseen circumstances in October 2023 that caused the Foundation’s 39th Annual Homecoming Gala, a major fundraiser, to be postponed. We pivoted and rescheduled the event to December 2023, hosting a Homecoming for the Holidays weekend-long event bringing alumni and friends back to the National Treasure to celebrate alma mater. Let it always be said that we will seek ways to serve and promote Morgan.
During fiscal year 2023, the Foundation received support from tens of thousands of alumni, friends, corporations and other supporters. We expanded our scholarship support and programmatic offerings with the support received from Ripple Labs, Inc., SECU Foundation and Symetra Life Insurance, among others. Our alumni giving rate was steady at 6.7%, and we will continue to engage/re-engage alumni to foster a philanthropic spirit.
Thanks to the generosities of Morgan’s supportive community, we continue to reach giving milestones, including the $130-million current value of our endowment portfolio. Most importantly, we are pleased to report that during this fiscal cycle, the Foundation awarded more than 2,100 students more than $5.1 million in scholarship aid. The ongoing campus expansion, significant increase in student enrollment, strong national rankings and widespread media coverage are some of the reasons why this is a most exciting time to support Morgan and its nearly 10,000 students.
Thank you for contributing to our success. The role of private philanthropy in Morgan’s mission to prepare high-quality, diverse graduates to become leaders of the world cannot be overstated. You are among the many donors, advocates and partners who make the aspirations of Morgan scholars a reality. Together, we are building a bright future for our city, nation and beyond.
Sincerely,
Jacqueline Lawson, Chair Morgan State University Foundation, Inc.
Cecil Flamer ‘Pays It Forward’ to Morgan and Beyond
By Jessica Dortch
Morgan State University is one of Baltimore City’s most powerful institutions, and it owes that status largely to the driving force of dedicated alumni who support its mission with their time, talent and treasure — alumni like Cecil Flamer, ’69. Flamer is a financial expert, philanthropist and avid supporter of education who has given back to his alma mater generously for decades. His giving has increased over the years through various projects, the most recent being the Food Resource Center, a facility launched at Morgan in 2018 to distribute food to students
free of charge and educate members of the Morgan community about healthy foodrelated strategies and methods, such as couponing, meal prepping, familiarity with nutritional value and proper food selection. The Center’s mission is to prevent hunger and food insecurity, which are major problems on college campuses nationwide. Since its inception, Morgan’s Food Resource Center has helped countless members of the University community, distributing food items and valuable advice.
Since graduating from Morgan with his bachelor’s degree in Business Administration in 1969, Flamer has shown an uncanny ability to identify needs on campus and provide funding and funders to meet
those needs. In the case of the Food Resource Center, he says, his foundational work and ongoing support stemmed naturally from his personal experiences with food insecurity during his time as a student at
Morgan. Although he was awarded scholarships and other financial assistance, and held a job near the campus at The Hecht Company department store, he still needed help.
“That wasn’t always sufficient enough to make sure I didn’t miss a meal or that I had everything I wanted to eat,” he explains.
Strong Foundation
Flamer knew the importance of food strategies all too well. A native of Maryland’s Eastern Shore, he and his four siblings grew up in rural Caroline County, where his father supplemented his income by raising cattle and crops. His mother kept a garden so that, although they could go to the supermarket, her family of seven would always have more than enough to eat.
“The values that were instilled in me started with family,” Flamer reflects.
“I would hope my legacy would be evident and apparent in the Food Resource Center…. (I wanted it to) be so successful that it would be a model for other universities.”
— Cecil Flamer, Morgan Class of 1969
Flamer knew his career path early on. A class assignment given to him when he was in middle school led him to discover accounting.
“I didn’t know any CPAs (Certified Public Accountants), but I decided that’s what I wanted to be,” Flamer recalls.
The more research he did, the more he learned about the promising prospects of the accounting profession and the growing demand for its services. To top it off, that career path led to six-figure salaries — even in the 1960s — making it all the more appealing to a young man with big dreams and a strong work ethic.
For more than 50 years, Flamer has had a successful career in finance at two notable companies: global CPA firm Ernst & Young and Brown Capital Management, Inc., a firm founded and led by Eddie C. Brown,
an African American entrepreneur and philanthropist. Although Flamer donates using his own funds, his ability to leverage those funds with his employers has been key to mobilizing large gifts. Through the matching gift program at Ernst & Young, Flamer was able to have the company donate to the same causes also, which inspired him to initiate a similar program at Brown Capital Management.
Expansive Philanthropy
Flamer’s generosity extends beyond the campus of Morgan State. Among the more well-known organizations he champions are the American Cancer Society, which he supports in honor of his late sister, who lost her battle to breast cancer in 2009.
His other philanthropic work is on full display in Baltimore City: he chaired the board of the Pratt Library, earning him a children’s
reading room dedication; was the founding chair of the Arts Everyday program, which helps reintegrate the arts into middle schools in the city; and, most recently, partnered with Roberta’s House to fund its updated facility, to which he donated pieces from his personal art collection to be displayed.
When asked how he’d like to be remembered, Flamer joked, “...that I knew good wine.” The modest, financially refined MSU alum doesn’t consider his own place in history. He believes that those in a position to help should.
“I would hope my legacy would be evident and apparent in the Food Resource Center…,” Flamer says. “(I wanted it to) be so successful that it would be a model for other universities. Maybe it will inspire others to hop in and do as much as or more than I have done.” n
FINANCIALS
MORGAN STATE UNIVERSITY FOUNDATION, INC
Financial Reporting
Morgan State University Foundation, Inc as of June 30, 2023 and 2022
INDEPENDENT AUDITOR’S REPORT
To the Board of Directors
Morgan State University Foundation, Inc
Baltimore, Maryland
Opinion
We have audited the accompanying financial statements of Morgan State University Foundation, Inc . (the Foundation), which comprise the statements of financial position as of June 30, 2023 and 2022, and the related statements of activities and change in net assets, functional expenses, and cash flows for the years then ended, and the related notes to the financial statements
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Morgan State University Foundation, Inc . as of June 30, 2023 and 2022, and the changes in its net assets and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America
Basis for Opinion
We conducted our audits in accordance with auditing standards generally accepted in the United States of America . Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report We are required to be independent of Morgan State University Foundation, Inc and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audits We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about Morgan State University Foundation, Inc . ’s ability to continue as a going concern within one year after the date that the financial statements are available to be issued
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards will always detect a material misstatement when it exists not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control including omissions, are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements
In performing an audit in accordance with generally accepted auditing standards, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit
• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements .
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Morgan State University Foundation, Inc ’s
*Pledges receivable, net discount of $355,242 and allowance of $818,069 at June 30, 2022
“The accompanying notes are an integral part of the financial statements”
FINANCIALS
FAIR VALUE MEASUREMENTS
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date . Generally accepted accounting principles in the United States (GAAP) establish a framework for measuring fair value That framework provides a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value That hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (“Level 1”) and the lowest priority to unobservable inputs (“Level 3”)
The three levels of the fair value hierarchy are described below:
Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities
Level 2 – Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly .
Level 3 – Inputs that are unobservable inputs that are supported by little or no market activity and that are significant to the measurement of the assets or liabilities .
Following is a description of the valuation methodologies used for assets measured at fair value on a recurring basis and recognized in the accompanying statement of financial position, as well as the general classification of such instruments pursuant to the valuation hierarchy There have not been changes in the methodologies used as of June 30, 2023:
Cash, cash equivalents, money market and CD’s: Valued at the closing price on the active market on which cash is traded and generally classified as Level 1 hierarchy
Common stocks, U.S government bonds and securities: Valued at the closing price reported on the active market on which the individual securities are traded and generally classified as Level 1 hierarchy
Mutual Funds and Equity Securities: Valued at the last quoted sales price, except securities traded on the Nasdaq Stock Market, Inc . (NASDAQ), which are valued in accordance with the NASDAQ Official Closing Price Over the counter securities are valued at the mean between the latest bid and asked prices as furnished by dealers who make markets in such securities Equities may be classified as Level 1 or Level 2
Corporate and foreign bonds: Fair value is based upon quotes for similar securities; therefore, these investments are rendered Level 2 .
Fair Value Measurement – The following table presents the Foundation’s fair value measurements of assets recognized in the accompanying statements of financial position that are measured at fair value on a recurring basis and the level within the FASB ASC fair value hierarchy in which the fair value measurements fall at June 30, 2023 and 2022:
There were no transfers between Level 1 and Level 2 at June 30, 2023 and 2022.
Fair Value Measurement Using:
MORGAN STATE UNIVERSITY FOUNDATION, INC . Unless otherwise indicated, all financial data in this report reflect Fiscal Year 2023, beginning July 1, 2022, and ending June 30, 2023.
GIFTS OVERVIEW
MORGAN STATE UNIVERSITY FOUNDATION, INC
Unless otherwise indicated, all financial data in this report reflect fiscal year 2023, beginning July 1, 2022, and ending June 30, 2023.
2,325 Students awarded scholarships during the 2022-2023 academic year
$5.1M Awarded Scholarships
(Each icon equals 25 students.)
Endowment - Growth Over time
Total Revenue
Per year income for 10 years – 2013 to 2023
(Includes contributions and investment income.)
Total Assets
Accumulation for 10 years – 2013 to 2023
(Includes cash and cash equivalents, investments, investments – accumulated earnings, pledges receivable, net discount of amount and allowance of amount, prepaid expenses, and other receivables.)
LEADERSHIP PROFILE
Joseph Simms III, ’93, becomes chair of the Morgan State University Foundation Board on July 1, 2024.
Enlarging a Foundational Legacy
By Eric Addison
Meet Joseph Simms III, Bachelor of Science in Psychology graduate of Morgan State University’s Class of 1993, and chair of the Morgan State University Foundation Board beginning July 1, 2024.
Joe and his wife, Kaliq Hunter Simms, stand out in society: talented, hardworking, professionally accomplished and rooted in their faith, with master’s degrees from universities at or near the top of the mainstream national rankings in their fields. But when asked about the institution to which they owe their career success, they don’t hesitate to name their undergraduate alma mater.
“100%” says Kaliq, who earned her dual Bachelor of Arts in English and Secondary Education at Morgan in 1996 and has led Sisters Academy of Baltimore as president since July 1, 2023.
“All of it,” adds Joe. “(Morgan) is the foundation on which our
(professional) lives have been built.”
That foundation is deep as well as strong. Joe’s mother, Carolyn Spriggs Simms, is a Morgan graduate; and Kaliq’s mother, Anita Turks Hunter, father, the late Joseph Allen Hunter, and maternal grandmother, the late Louise Grooms Turks, all earned degrees from Morgan State.
Pushing It Forward
Joe’s professional career spans three decades in Corporate America, a journey that began when a Morgan professor suggested labor and industrial relations as a bridge between his major of psychology and the business world. Acting on that good advice, he earned a master’s degree at one of the top schools in that field, University of Illinois at Urbana-Champaign, and has continued growing professionally since then as a human resources executive with Fortune 500 and other major companies.
Joe, Kaliq and their parents are all committed to “giving back,” through teaching, mentoring and/or financial contributions, and Morgan is at the top of their list of charitable causes. They are all members of the Morgan State University Alumni Association.
Joe and Kaliq have a 16-year-old daughter, Hope, and a 17-year-old son, Hunter. Joe is a member of Alpha Phi Alpha Fraternity, and Kaliq and Anita are Alpha Kappa Alpha Sorority sisters.
“Morgan has had a significant impact on me and my family across multiple generations. Now, we have an opportunity to share our love for Morgan with the next generation through our kids,” says Joe.
“As they consider which college to attend, it’s important to instill in them an appreciation for Morgan and HBCUs in general.” n
Corporation, Foundation, Organization Donors
Contributions July 1, 2022 through June 30, 2023
$1,000,000 +
Goldman Sachs Foundation
Kirkland & Ellis, LLP
State of Maryland Department of Commerce
$500,000 +
Andrew W. Mellon Foundation
Bristol-Myers Squibb Company
$250,000 +
Constellation Energy/BGE
Goldseker Foundation
Johns Hopkins University
National Action Council for Minorities in Engineering, Inc.
Ripple Labs, Inc.
$100,000 +
American Honda Motor Co., Inc.
The Boeing Company Center for Innovations in Education
Crankstart Foundation
The Democracy Fund
Ford Foundation
Lockheed Martin Corporation
Mid-Eastern Athletic Conference (MEAC)
National Association for Community College
Entrepreneurship
NewsCorp
NIKE TN, Inc.
Omega Healthcare Investors, Inc.
Pfizer Foundation
Symetra Life Insurance Company
U.S. Small Business Administration
The Whiting-Turner Contracting Company
$50,000 +
Agilent Technologies Foundation
Aon Corporation
AT&T
The Battelle Memorial Institute
Charlotte W. Newcombe Foundation
The Columbus Foundation
Deloitte & Touche, LLP
Enterprise Holdings
Google, LLC
Hannon Armstrong Foundation
International Foundation for Telemetering
Jack and Jill Foundation
Kaiser-Permanente Mid-Atlantic States
Leidos
MMTL Foundation
Northrop Grumman Corporation
Stanley Black & Decker
University of Maryland College Park Foundation
$25,000 +
Annie E. Casey Foundation
Baltimore Community Foundation, Inc.
The Benevity Community Impact Fund
Capital Business Unit, Inc.
Chesapeake Employers Insurance
Corning Incorporated Foundation
The Groove Fund, Inc.
HomeFree USA
Hunts Memorial United Methodist Church
IBM International Foundation (IIF)
Jack Henry & Associates Inc.
James and Amy Bennett Foundation
Kresge Foundation
Lincoln Financial Group
Marsh and McLenn
National Academy of Human Resources (NAHR)
PNC Bank Corporation
Society of Actuaries
Turner Construction Company
Voya Services Company
Wells Fargo Foundation
$10,000 +
Abell Foundation
Aegon Transamerica Foundation
Amazon.com Services, LLC
Apple Computer, Inc.
Barton Malow Company Foundation
BIC Educational Foundation
Blockchain Association
Brown Capital Management, LLC
CMAA – Baltimore Chapter
Combined Federal Campaign
Direct Athletics, Inc.
Educational Credit Management Corporation (ECMC)
Featherstone Foundation
Fidelity & Guaranty Life Business Services, Inc.
Fidelity Charitable Gift Fund
Hardesty Hanover (H&H)
Hawaii Pacific University
HBCU Founders Initative
Health Management Associates, Inc.
Kaiser Permanente Foundation
The Philip and Harriet Klein Foundation, Inc.
The M&T Charitable Foundation
Morgan State University Alumni Association
Morris A. Mechanic Foundation, Inc.
MSUAA Howard L. Cornish Metropolitan
Baltimore Chapter
Prudential Financial
Raymond James Charitable Fund
Roeder Travel Ltd.
Standard Insurance Company
Strada Education Network
T. Rowe Price Foundation, Inc.
United Baptist Women of Maryland, Inc.
University of Notre Dame
Vietnam Veterans of America Baltimore Chapter
Wellington Management
Wilson Global Communications
YourCause, LLC
Individual Donors
$500,000 +
Estate of Russell McKensey Young, Jr.
$250,000 +
Estate of Dolores O. Morris
Mr. and Mrs. Calvin E. Tyler, Jr.
$100,000 +
Estate of Alvin Frederick Douglas
Mr. and Mrs. Michael Novogratz
$50,000 +
Dr. and Mrs. Jerome Adams
Ms. Margaret W. Barroll and Mr. Hans E. Hartse
Estate of Ronald Christian
Mrs. Stephanie D. Nellons-Paige
$25,000 +
Mr. and Mrs. Joseph E. Bennett
The Honorable JoAnn Bowens
Mr. David J. Brashear and Mrs. Romica R. Brashear
Mr. Leonard Cornish
Gen. (Ret.) and Mrs. Larry R. Ellis
Mr. Cecil E. Flamer
Estate of Elsie P. Hall
The Honorable and Mrs. Peter C. Harvey
Ms. Madelyn P. Jennings
Mr. Lawrence P. Johnson † and Mrs. Glenda D. Johnson
Mrs. Niru Shah
Mr. and Mrs. Lonnie L. Smith
Mr. and Mrs. Carl W. Turnipseed
Dr. David K. Wilson
Contributions July 1, 2022 through June 30, 2023
$10,000 +
Mr. Lawrence Anderson
Ms. Barbara Blount Armstrong
Mr. Rob Bachler
Mr. Calvin H. Baker and Mrs. Lidia Paz-Baker
Lt. Col. (Ret.) and Mrs. Michael L. Bell
Col. (Ret.) and Mrs. Harold J. Bennett, Jr.
Mr. Floyd M. Brown
Anonymous Donor
Dr. Frank W. Gayle
Ms. Rosalyn Gross
Mr. and Mrs. Bert J. Hash, Jr.
Ms. Linda Havard and Mr. M. Arthur Gensler
Rev. Marsha Evans Holmes
Mr. Warren J. Howze
Dr. Melanie L. Jackson
Mr. and Mrs. Larry E. Jennings, Jr.
Mr. Dwayne K. Johnson
Mr. Daronté R. Jones
Mr. Kevin Kelly
Mr. and Mrs. Josh Lauring
Mr. and Mrs. Arthuro V. Lawson
Mr. Brett L. Martin
Drs. Keith and Grishondra Mays
Mr. and Mrs. Anthony C. McPhail
Mr. and Mrs. Melvin N. Miles, Jr.
Dr. John Laws Nickens, Jr.
Drs. Thomas Pinder and Esther G. Pinder
Ms. Karen A. Robertson
Dr. Walker L. Robinson, Sr.
Mr. and Mrs. William A. Sherman II
Mr. and Mrs. Joseph P. Solinsky
Mr. Walter R. Somerville, Jr.
Dr. Tyrone D. Taborn
Mr. and Mrs. W. Stewart Taylor
Mr. Jaren Tucker
Lt. Col. (Ret.) and Mrs. Larry D. Turner
Mr. Artee A. Willis
Deceased
Morgan State University Foundation, Inc.
Board Members as of June 30, 2023
Executive Committee
Mrs Jacqueline L Lawson Chair
Mr . Forest T . Harper, Jr . Vice Chair
Mr . Joseph S . Simms, III
Secretary
Mr . Craig I . Spencer Chair, Finance Committee
Mr . David A . Sheppard Chair, Audit Committee
Mr . Larry E . Jennings, Jr . Chair, Investment Committee
Board Members
Mr Calvin H Baker
Lt Col (Ret ) Michael L Bell President, MSU Alumni Association
Mr Mervin A Bourne
Mr Nicholas Edwards
Mr . Kevin L . Hawkins
Dr . Melanie L . Jackson Chair, Committee on Directors
Mr . William A . Sherman, II Board of Regents Representative
Ms . Trisch L . Smith
Mr . Stanley W . Tucker
Ms . LeVerne A .B . Wallace Global HR Executive (Retired)
Dr . Geneva J . Williams Chair, Development Committee
Ex-Officio Members
Dr . David K . Wilson President, Morgan State University
Ms . Endia M . DeCordova, MBA
Executive Director, MSU Foundation, Inc.
Vice President, Institutional Advancement, Morgan State University
