CHAIRMAN’S LETTER / FALL 2014
Dear Friends,
It was great to have such a strong turnout for our fall board meeting in Athens. Everyone seemed really energized and it sets the stage for our next board meeting. That meeting, of course, will be held in our nation’s capital and will include dedication ceremonies for the new UGA Washington Semester Program facility which is undergoing extensive renovations at present. To maximize our time in Washington, many committee meetings will be held at the Atlanta Alumni Center prior to our trip. The dates and details for those meetings have been finalized and are located at the end of this newsletter. I was especially pleased by the unanimous vote at the fall meeting to deepen our support for the university through the budget surplus realized in fiscal year 2014. It was also exciting to see the final numbers and report that the foundation’s investment returns for the fiscal year were, once again, very strong. You will find more details about our 2014 results in this newsletter As board members of the UGA Foundation, the gifts of your time, business expertise and financial resources are having significant impact, and I am honored to work with you in support of the University of Georgia’s academic mission! Sincerely,
John Spalding (AB ’82, JD ’85) Chairman
Foundation Financial Highlights
Foundation’s budget surplus funds UGA Foundation posts impressive investment returns support key areas of academic need Many thanks to past Investment Committee Chair Joe Frierson, current Chair John Crawford (below) and all members of the committee for the outstanding results achieved by UGA Foundation investments. With a 17.3% return on investments in fiscal year 2014, the foundation’s portfolio outperformed all of its benchmarks, and continued a tradition of consistency in which it has exceeded the performance of its indices over the most recent one, three, five and ten‐year periods. Donor generosity and the deft management of the gifts entrusted to our care helped the foundation reach historic highs in both the investment portfolio (more than $800 million) and in total assets which crossed the very important milestone of $1 billion. With a highly experienced and skilled investment team, and with fundraising reaching all‐time highs, I think we can all look forward to watching the endowment continue to grow.
Hats off to the Finance and Compensation Committee, chaired by Bill Douglas (pictured below), and to Executive Director and Chief Financial Officer Cindy Coyle and her team, for their prudent management of funds designated for day‐to‐day operations of the foundation.
At our fall board meeting, Douglas, who also serves as UGAF treasurer, reported that the foundation ended fiscal year 2014 with a budget surplus of more than $6 million. Those funds have been allocated to endowments that support:
Merit‐based Charter Scholarships, Incentive Scholarships, Need‐based Georgia Access Scholarships, Washington Semester Scholarship Program, UGA professorships.
Douglas summed it up when he stated at the board meeting, “We felt it was very important to support several funds that are key to helping the university fulfill its academic mission.”
One of the historic hallmarks of the University of Georgia Foundation has been its thoughtful approach to managing the funds under its care.
Our goal is to assure every dollar contributed to the university yields the greatest benefit possible over a long term horizon. I think the budget surplus is a demonstration of our ability to achieve that objective.
Congratulations to new professorship holders!
New gift provides funding for distinguished chair in the Terry College
I am always happy to share news of new funding awarded to deserving members of the UGA faculty from endowments managed by the University of Georgia Foundation. It is especially nice to see that the university is now awarding more than one per month on average. That speaks to the quality of our faculty and to the increasing generosity of our donors who make it all possible. John L. Gittleman, founding dean of the Odum School of Ecology, has been named the University of Georgia Foundation Professor in Ecology. Gittleman came to UGA in 2006 as director of the Institute of Ecology. He was appointed dean in 2007 when the institute became the Odum School of Ecology, the first standalone college in the world devoted to the study of ecology. Gittleman's research explores global problems of ecology and evolution. He works with large‐scale databases and uses statistical comparative methods to answer broad questions related to the origins, patterns and causes of species biodiversity, primarily in mammals. Recently, his work has extended to questions on the economics of conservation, causes of global extinction and ecological influences of emerging human diseases. Gittleman’s colleague, Sonia Altizer, a professor and associate dean for academic affairs in the Odum School, has been named the University of Georgia Athletic Association Professor in Ecology. Altizer studies the ecology and evolution of infectious diseases. Working with diverse systems ranging from monarch butterflies to vampire bats, Altizer and her students explore questions about host‐ parasite interactions, the relationship of animal behavior and disease and the impact of human‐caused environmental changes on infectious disease dynamics.
The University of Georgia recently received a $2.5 million gift from the estate of Roy Adams Dorsey which is designated for establishment of the Roy Adams Dorsey Distinguished Chair in Real Estate in the Terry College of Business. A check was presented to President Jere W. Morehead by the executors of the Dorsey estate at a ceremony in Atlanta last month.
Special thanks to our good friend and UGA Foundation Emeritus Trustee Bob Edge, an attorney with Alston & Bird in Atlanta, who served as counsel for the Dorsey estate. In reflecting on the gift, President Morehead stated, “It will no doubt transform real estate education for UGA students. Roy Dorsey’s legacy will continue through the countless future real estate professionals who will benefit from this chaired professorship, and we are deeply grateful.” Dorsey, a UGA graduate, passed away in 2012. He was founder and president of Atlanta‐based Dorsey‐Alston Realtors, one of America’s top luxury real estate firms. His father Cam D. Dorsey, was a 1903 alumnus who helped establish the University of Georgia Foundation in 1937.
2014 UGA Foundation Annual Report rolls of the presses The 2014 edition of the UGA Foundation Annual Report has been published. Copies from the initial print run were shared at the board meeting in Athens; hard copies were subsequently mailed to top donors and shared by email with all other contributors.
My thanks to the Development & Public Affairs Committee’s Communications Subcommittee, led by Trustee Kathryn Ash, for their hard work in this effort.
The electronic version is available to view or download online by clicking here. If you desire additional copies of the printed edition, contact Chip Stewart at (706) 542‐4583 or via email at chips@uga.edu.
Olympian/Bernard Ramsey Scholarship recipient nears another milestone Shannon Vreeland is a shining example of “the best and brightest” that we are proud to have as students at the University of Georgia. Shannon is an Olympic gold medal swimmer who, despite the intense training and competition schedule she keeps year round, manages to excel in the classroom. She is on track to graduate from the Terry College of Business at the end of the current semester with an A.B. in International Affairs and an A.B. in Economics. For her prowess in the classroom, Shannon was awarded the Bernard Ramsey Scholarship for Academic and Athletic Excellence. She has been honored as an Academic All‐America and is a member of the Omicron Delta Kappa national honor society.
Board of Visitors Luncheon Moved to Chick‐fil‐A endows scholarship Thursday, February 12, 2015 fund to honor Don Perry
I hope you are planning to join us for the next UGA Board of Visitors luncheon in Atlanta. Due to unforeseen scheduling issues, the November 13 meeting was postponed and will now be held on February 12, 2015 in Atlanta. Details on the program and location will be coming your way soon.
What heartwarming news it was to learn that Chick‐fil‐A, led by President Dan Cathy, made a $250,000 gift to endow the Don Perry Chick‐fil‐A Scholarship.
This endowed graduate scholarship fund is established in memory of our dear friend and fellow trustee who passed away in 2012. It is a tribute to Don’s career as a consummate public relations and public affairs professional, his leadership, and his service to the University of Georgia.
Don earned his A.B.J. from the Grady College of Journalism and Mass Communication in 1974 and spent 30 years building and directing the public relations and public affairs functions for Chick‐fil‐A.
The fund will provide scholarship support for Grady College graduate students whose ambitions and study are in the field of public relations.
All Board of Visitors luncheons, such as the Spring 2014 meeting documented in the collage above, offer time for socializing and networking before formal activities commence. The programs offer informative, inside looks at many different aspects of the university.
Keith Mason who chairs the Board of Visitors Subcommittee reminds us that all UGA Foundation Trustees are invited and encouraged to bring guests.
It is not necessary for your guests to have any connection to the university. This is an opportunity for them to learn more about UGA, meet leaders of the institution and become more engaged.
In respect for the business schedules of those in attendance, all Board of Visitors meetings begin and end promptly at the assigned times.
Don Perry It will be a flexible fund that can be awarded annually by Grady to multiple students based on merit and financial need. Recipients will be designated as Don Perry Chick‐fil‐A Scholars.
I can’t think of a more fitting way to honor Don Perry and am grateful to Dan Cathy and Chick‐fil‐A for their generosity, which will benefit generations of Grady College students.
If the University of Georgia and the Athens Area Chamber of Commerce ever need spokespersons to tell the world about their virtues, Carl and Barbara Parks (pictured at right) should be at the head of the line.
Carl earned an ABJ in Advertising and Public Relations from the Grady College in 1969 and later studied law in a career that took him to several major cities. Along the way he met and married Barbara, a Western Michigan University graduate, and they ultimately found their way to Washington, where Carl worked with Georgia Senator Paul Coverdell and in government affairs for property and casualty insurance companies on Capitol Hill. Barbara worked in the marketing department of insurance giant, GEICO.
For 25 years, Alexandria, Virginia was home, but they knew upon retirement, they would step away from the grind of a major metropolitan area.
“We know that education is central to everything that matters in our country, our future and our economy.
“One of the recipients of our swimming scholarship was Nic Fink who recently won a Joel Eaves Award, which is given annually to the number one male and female athletes from all varsity sports at the university, based on academic achievement and community service,” Carl said.
Barbara added, “We’re very proud of Nic for his athletic and academic accomplishments, and proud that he held a scholarship we endowed.”
The pedigree of the Carl and Barbara Parks Swimming and Diving Scholarship is noteworthy in that it was also held by six‐time Olympic swimming medalist Allison Schmitt.
The Parks’ generosity, however, is not confined to athletics.
“Barb and I are a team in everything we do,” Carl stated.
“We also support the College of Veterinary Medicine,” Carl stated. “One of our dogs had a serious illness which lasted several months. There is no doubt whatsoever that having a veterinary teaching hospital, with emergency services, close by saved our dog McKinley’s life.
“Having come to football games and other events in Athens over the years, we knew it was a special place, so we decided to move here about five years ago. That’s what really opened the door to the relationships we now have at the university.
“Early on, we met Coach Harvey Humphries, and through him, we were introduced to members of the swim team. We were astounded at how hard those student‐ athletes work, and equally amazed by their intellect. It’s remarkable how they achieve so much in the classroom when you see the athletic commitment involved,” Carl continued.
“We were so impressed with these incredible young adults that we decided to endow a swim team scholarship in the UGA Foundation. It has worked out so well that we set up a couple of scholarships for other sports through our estate plan.
“We are also focused on the School of Public and International Affairs and the Center for International Trade and Security … both of which are related to the work I did on Capitol Hill. We look forward to supporting their programs.”
The couple’s relocation to Athens and living close to campus has added up to a classic “win‐win.”
“We just love living here,” Barbara said. “From day one, we felt like we were part of the Athens and UGA family. Everyone was so welcoming and everyone is so friendly.”
Aside from their interaction with UGA, Carl was elected to the Clarke County School Board and also serves on an economic development task force appointed by Athens Mayor Nancy Denson.
“When you put it all together, UGA offers so much to the state in the way of economic development and producing our leaders … It just makes us want to support the university and the community even more,” he said.
DATES TO REMEMBER November 27‐28, 2014
December 19, 2014
December 25, 2014 through January 1, 2015 January 21, 2015
February 2, 2015
February 12, 2015
Thanksgiving Holidays University of Georgia closed Fall Semester Commencement 9:30 AM Undergraduate Ceremony 2:30 PM Graduate Ceremony Stegeman Coliseum Christmas Holidays University of Georgia closed Real Estate Committee Meeting 9:00 ‐10:00 AM UGA Atlanta Alumni Center Finance & Compensation Committee Meeting 10:30 AM – 12:30 PM UGA Atlanta Alumni Center Costa Rica Corporation Board Meeting 1:00 PM – 2:30 PM UGA Atlanta Alumni Center Foundation Fellows Committee Meeting 9:00 AM – 10:00 AM UGA Atlanta Alumni Center Development and Public Affairs Committee Meeting 10:30 AM – 12:30 PM UGA Atlanta Alumni Center Audit Committee Meeting 1:00 PM – 2:30 PM UGA Atlanta Alumni Center UGA Board of Visitors Meeting 11:30 AM – 1:00 PM Meeting Location and Coordinates TBD Atlanta, Ga (Continued on next page)
DATES TO REMEMBER (Continued)
February 20 & 21, 2015
Foundation Fellows Interview Weekend Various Campus Sites Athens, GA
February 26, 2015
Investment Committee Meeting (Working Lunch) 12:00 Noon – 3:00 PM Washington Court Hotel Washington, D.C.
Dedication of UGA Washington D.C. Building 4:00 PM – 4:30 PM
Post Dedication Reception at Washington D.C. Building 4:30 PM – 6:00 PM
UGA Foundation Board Dinner and Program 6:30 PM Washington, D.C.
February 27, 2015
Nominating and Governance Committee Meeting 8:00 AM – 9:00 AM Washington Court Hotel Washington, D.C. UGA Foundation Full Board Meeting 9:30 AM – 11:30 AM University of Georgia Washington D.C. Building Washington, D.C.
Spring Commencement 10:00 AM Graduate Ceremony ‐ Stegeman Coliseum 7:00 PM Undergraduate Ceremony ‐ Sanford Stadium
UGA Foundation Spring Board Meeting St. Simons Island, GA
May 8, 2015
Open House 4:00 PM – 6:00 PM University of Georgia Washington D.C. Building Washington, D.C.
June 11‐12, 2015
University of Georgia Foundation 394 South Milledge Ave., Suite 100 Athens, Georgia 30602-5582 Telephone (706) 542-6677 www.ugafoundation.org