2018 College of Charleston Foundation Report

F O U N D AT I O N A N N U A L REPORT 2018

When the College of Charleston Foundation officially formed on June 30, 1970, its primary purpose was to support the College of Charleston by receiving, investing and managing money and property for the exclusive benefit of the College. Nearly 50 years later, the Foundation’s mission remains the same – to sustain and enhance the College's continued success.

SUSTAINABLE (adjective) sus-tain-able | \sə-'stā-nə-bəl\ relating to, or being a method of harvesting or using a resource so that the resource is not depleted or permanently damaged.

It won’t surprise you then, that sustainability is the theme for the Fiscal Year 2018 Foundation Annual Report. Our theme also corresponds with the College's Quality Enhancement Plan – Sustainability Literacy as a Bridge to Addressing 21st Century Problems. The initiative seeks to endow the College community with the tools and knowledge needed to address issues including environmental, economic and social change.

Every gift the Foundation receives is an investment in the College’s current success and viability for the future. With careful stewardship of donors’ gifts – three of which are featured in this report – in addition to the strategic management of our assets, the Foundation aims to maximize the resources available to attract talented students to campus and retain them.

A significant point of pride from last fiscal year ( July 1, 2017 - June 30, 2018) is the nearly $10.5 million the Foundation provided to the College in the form of student scholarships and awards, academic and research initiatives, athletics, faculty programs, and facility enhancements. A portion of this support, approximately $3.0 million, was made possible by the endowment through spending distributions.

The endowment portfolio grew to $92.2 million by June 30, 2018 as a result of new gifts and strategic investment.

Another highlight from last year is the growth in the Foundation’s total net assets to $128.2 million, which marks an increase of more than $17 million. These assets range in type from rare books, property and fossils, to contributions of cash that are invested in the endowment pool or are available for immediate use. However, they all share the same purpose: to provide our students with an extraordinary and transformative educational experience.

Looking ahead, the College of Charleston Foundation remains unwavering in its commitment to sustain and grow the people and programs that distinguish this extraordinary institution. Please accept our heartfelt thanks for your continued support and advocacy for an ever-greater College of Charleston.

Sincerely,

Jeff Kinard ’77 Chair College of Charleston Foundation

Chris Tobin Executive Director College of Charleston Foundation

- MISSION -

The Mission of the College of Charleston Foundation is to promote programs of education, research, student development and faculty development for the exclusive benefit of the College of Charleston.

FOUNDATION ANNUAL REPORT FY2018

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The Apprentice: Rebecca Fanning shows off her beekeeping – and gardening – skills.

2 | COLLEGE OF CHARLESTON FOUNDATION

Sweet

HARMONY Thanks to a grant from the

golden pearl foundation and a donated apiary, the Student Garden at the Stono River property is really buzzing with sustainability.

FOUNDATION ANNUAL REPORT FY2018

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➊

S

ymbiosis can be a beautiful thing in nature.

It can also be a beautiful thing in humans.

Early last year, the Charleston Area Bee Keepers Association (CABA) was searching for a location for its educational apiary when the former program coordinator of the College’s environmental studies graduate program contacted CABA about providing honeybees for the Student Garden at the College of Charleston Foundation’s Stono River property, located 17 miles south of the College's main campus.

CABA set up five hives on the 953-acre property about a halfmile from the garden, which was funded with seed money – both literally and figuratively – given to the CofC Foundation from the Golden Pearl Foundation, a North Carolina charity that provides grants to support the arts, youth and the environment.

It all dovetails perfectly with the College’s Sustainability Literacy Initiative.

“The magnificent beauty of the Stono River property, coupled with the unbounded possibilities to provide opportunities for the College and the community at large, were a perfect fit for the Golden Pearl Foundation,” says Heidi Hall-Jones, Golden Pearl’s president of the board. “It has been incredibly

4 | COLLEGE OF CHARLESTON FOUNDATION

➋

➌

➍

meaningful to watch the progress unfold on the property and meet many extraordinary students and staff. We believe the Stono River property will play an important role in the Charleston community and beyond, and we are honored to be able to support such a remarkable place.”

So is CABA. “It has been received very well by the members, and we look forward to a long-term relationship with CofC,” says Larry Haigh, a past president of CABA who is managing the apiaries and overseeing the apprentice program. “The bees are active all over the property, including the gardens and the woodlands.

The location is a stunning jewel of beauty and natural diversity.”

The three-year agreement between CABA and CofC includes training two apprentice beekeepers and holding educational events. “The clear intent of John Henry Dick in leaving the Stono River property to the Foundation was two-fold: to manage, preserve and protect it as a wildlife sanctuary, and to use the site as an educational platform,” says Barney Holt ’74, director of property management for instutional

BUSY BEES: ➊ To determine honey stores, CABA’s Larry Haigh removes from the hive a frame, or one of its “leaves,” which bees use to build their honeycomb. A honey super is the top one or two boxes of a hive, where extra honey gets stored; the bottom one or two boxes, called brood boxes or deeps, are where eggs are laid and young bees are reared. ➋ Using an uncapping knife, Fanning slices off the layer of wax sealing that covers the honey cells. These “cappings” offer the best quality wax in the honeycomb and are used in making beeswax products like lip balm. Care is taken not to cause any damage to the walls of the cell so the bees don’t have too much repair work to do when they get the empty cells back in the spring. ➌ Fanning uses a cappings scratcher on the edges of the frame to remove any sealed honey cells missed by the knife. ➍ The cappings are then melted down and used for beeswax products. ➎➏ A tangential extractor uses a hand crank to spin out the honey from the cells of the honeycomb.

The honey is then filtered through screens to remove particles like large bits of pollen, wax or even the occasional bee wing.

Screens vary in size from relatively large (removing only the largest particles) to very fine (removing much of the pollen for a more translucent honey).

➎

➏

“ The bees are active all over the property,including the gardens and woodlands.

The location is a stunning jewel of beauty and natural diversity.”

– Larry Haigh

advancement at the College. “The Student Garden is a perfect example of these charges, and the bee colonization program is a natural extension of their work.” (Cont. on pg. 8) FOUNDATION ANNUAL REPORT FY2018

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The Stono River plays an integral role in the College's sustainability efforts.

6 | COLLEGE OF CHARLESTON FOUNDATION

“ The Foundation’s responsibility is to ensure the Stono River property is sustainable and, thereby, available for students to always have access to its unique living laboratories.”

– Jeff Kinard ’77 FOUNDATION ANNUAL REPORT FY2018

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DOWN TO EARTH: ➊ The Student Garden is certified by the National Wildlife Foundation. ➋ Graduate assistant Michael Cranford brings mushroom compost to the raised beds to feed nitrogen back into the soil. ➌ Cranford and another graduate assistant, Sean Dove, work the compost into the soil. ➍ A volunteer plants lettuce seeds. ➎ Undergrads and Student Garden employees Suzanna Ellison and Caroline O’Rourke plant romaine. ➏ The garden contains a variety of herbs loved by both cooks and pollinators. ➐ A raised bed of lettuce with mesh netting that serves as a deer deterrent. ➑➒ The garden includes rows of raspberries and carrots. ➓ Mesh netting covers the raised beds in front of the fencedin “turtle garden,” where lettuce is grown to donate to the South Carolina Aquarium’s Sea Turtle Care Center.

➋

➊

➌

The Student Garden is a perfect example of managing, preserving and protecting the property, and the bee colonization program is a natural extension of their work.

8 | COLLEGE OF CHARLESTON FOUNDATION

➍

➎

(Cont. from pg. 5) Rebecca Fanning, who is pursuing a double master’s in environmental studies and public administration, was the first apprentice and has helped identify curriculum objectives – like how to pick a bee off your beekeeping suit by its wings – that could strengthen the program.

“The learning curve is pretty steep for beekeeping,” says Fanning, who earned her undergraduate degree in Russian studies at Bard College in New York’s Hudson Valley. “When you make mistakes, it doesn’t feel too good because you have several thousand really upset bees to account for. It takes a lot of confidence. If you don’t know what you’re doing, the bees pick up on it. It’s just really nice to have that mentor with you to bring the stress level down.”

The two-acre garden is a little less stressful, although growing 20 or so different varieties of vegetables does have its challenges. “We’re an organic garden, and we’re an organic garden in South Carolina, so bugs are our No. 1 concern,” says Fanning, who also manages the garden. “But it’s pretty impressive to see the plants fending for themselves. Somehow the plants thrive despite it all.”

➏

➐

➒

The bees have bolstered Fanning’s conviction for the importance of using organic farming practices. For example, the farm turned down free zucchini plants from Clemson Cooperative Extension this summer because the seeds had been coated with fungicides – compounds that can be dangerous to bees that have also been exposed to other chemicals, like pesticides to control mosquito populations.

Notes Fanning: “We wouldn’t have been sensitive to that issue if we hadn’t been researching honeybee population declines in order to keep our bees safe.”

➑

➓

Stone Soup Collective, a nonprofit student group that’s part of the College’s new food insecurity initiative.

After all, symbiosis is most beautiful when it’s between nature and people.

– Tom Cunneff

Native pollinators like bumblebees and butterflies also play a role, so Fanning is in the process of installing a three-acre pollinator meadow for them. And there will soon be a deer fence, which the Golden Pearl Foundation is also funding, around all five acres so students can put more time into what goes into the ground and less time into what crosses the fence.

The College donates most of the vegetables to people in need of fresh produce through charities like Fields to Families.

This fall, the vegetables ended up in soups cooked by the FOUNDATION ANNUAL REPORT FY2018

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First published in 1855, My Bondage and My Freedom is the second autobiography of African American activist, author and statesman Frederick Douglass. Leo and Vicki Williams’ gift of a rare first edition will join fellow treasures in the permanent collection of the Avery Research Center.

10 | COLLEGE OF CHARLESTON FOUNDATION

Slave. Fugitive. Orator.

Writer. Statesman.

A family’s connection to a hallmark African American autobiography Frederick Douglass emerged on the national stage in 1845 and has never left popular memory.

The power and poetry of Douglass’ words – printed and spoken – fundamentally changed the conversation about slavery in the U.S. and continue to inspire generations of activists.

With Leo and Vicki Williams' recent gift to the CofC Foundation of a first edition of Douglass’ second autobiography, My Bondage and My Freedom, the College of Charleston community now can connect with Douglass in a way typically off limits to all but a fortunate few. The stewardship of this treasure represents the Foundation’s commitment to sustaining the College of Charleston community's awareness of Douglass’ role in the abolition of slavery in the U.S. Born into slavery in eastern Maryland, the self-taught Douglass escaped to more northerly climes as a young adult.

He established himself as a prominent abolitionist, speaking out against the “peculiar institution” at considerable risk to his person. As a fugitive slave, he risked being kidnapped and forcibly returned to his owner – an act protected at the time by American law.

Or, as Douglass himself put it: “Beware of a Yankee when he is feeding.”

For the couple, My Bondage and My Freedom holds a personal significance.

“For nearly four years, I lived across the street from Douglass’ home at 14th and W streets in Washington, D.C.,” says Leo Williams, a retired Marine Corp Reserve major general and Ford Motor Company executive. “Every morning, as I walked out of my front door, the Douglass home was the first thing I saw. I visited his home often. I occasionally walked the route he walked daily from his home to Capitol Hill, crossing the Anacostia River twice each day. For me, Douglass is an up-close and personal hero.

“And then, there’s Vicki’s family’s history with Avery,” the current Friends of the Library Board member adds.

But even in the supposedly safe havens of New York and Massachusetts, Douglass encountered further discrimination and prejudice. Such was his readiness behind a pen and lectern that many doubted whether Douglass had in fact been enslaved.

His autobiographies assuaged these doubts. Detailing the travails Douglass faced as both a slave and a free African American, these works rank among the country’s most influential slave narratives and are considered canonical works of American literature.

The Williams’ gift of My Bondage and My Freedom offers a candid look not only at Douglass’ early life, but also at his struggles against racial segregation in the North.

Indeed, for Vicki Williams, the connection is familial: Her mother, Bernice DeCosta Davis, and uncle, Herbert DeCosta Jr., are Avery Institute alumni. She is also a direct descendant of Ellen and William Craft – fugitive slaves whose daring escape to freedom led to their own published narrative, 1860’s Running a Thousand Miles for Freedom.

“For me, Douglass is an up-close and personal hero.”

– Leo Williams

The book will be housed in the permanent collection of the Avery Research Center for African American History and Culture. – Vincent Fraley inset photo: donors of douglass' my bondage and my freedom, leo and vicki williams, photographed by reese moore FOUNDATION ANNUAL REPORT FY2018

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Scientific Trust It’s been almost 70 years since Horatio Hughes taught at the College, but he is still making an impact.

Before graduating, astrophysics major Wendell Roberson ’18 conducted a research project titled, “Numerical Simulations of the Interaction Between Planets and Protoplanetary Disks.”

“I studied how planets that are roughly the size of Earth migrate within a gaseous disk,” says Roberson. “We did this through simulations using a code that is written to help simulate these developments.”

The “we” includes his faculty adviser, Ana Uribe, but he might also be referring to Horatio Hughes ’05 (that’s 1905) – who taught chemistry and physics at the College from 1923 to 1950 – given that his eponymous scholarship covered the cost of Roberson’s research and other expenses.

“The scholarship really helped put my mind at ease,” says Roberson. “You want to make sure you have done everything you needed to do to ensure that all of the money you need is there for the year, and, with the scholarship, I knew I was covered in some areas.”

Hughes’ daughter Patricia Hughes Farrow ’48 and her husband, Thomas Ferguson Farrow ’49 (the two met while at CofC) established the Horatio Hughes Memorial Scholarship in 2011 through a charitable trust that began funding after both had passed away. The trust funds about $30,000 in scholarships for 10-15 science students a year, along with a handful of research stipends, like Roberson’s.

“My mom thought it was a worthwhile thing to do out of respect for her father,” says Patricia's son, John Farrow, who has fond memories of his grandfather, known as Papa. “He was a neat guy. I remember him as a very kind, gentle and scholarly fellow.”

Born in 1885, Hughes earned his master’s the year after he graduated from the College. Perhaps one reason why the Farrows created the scholarship was to pay it forward, since Hughes received a $50 Boyce Endowment Scholarship.

The Boyce Endowment – the first ever at the College – was established in 1856 by Kerr Boyce. As a true testament to sustainability, the Boyce Endowment is still being awarded 12 | COLLEGE OF CHARLESTON FOUNDATION

HORATIO HUGHES '05

today. In a thank-you letter he wrote as a student, Hughes called the scholarship “an incentive to put forth my best effort to prove worthy.”

It’s a sentiment that resonates with another Hughes scholar, Marni Sapolsky ’18.

“After being notified that I received the scholarship, I did some research,” says the chemistry major, “and was even more honored to receive this scholarship because it was named in memory of such a distinguished professor at the College.”

Hughes began teaching at the College in 1923 after professorships at Georgia Tech, the University of Georgia, Presbyterian College and Florida State College. He received his Ph.D. in chemistry from John Hopkins University in 1913, not long after meeting and

marrying his wife, Josephine, an antiques dealer. They had three children, Laura, Harry and Patricia, and lived on a farm by a little creek outside of Charleston in Pierpont, now part of West Ashley.

“My grandfather loved the country,” says Randall Swan, one of Laura’s children who spent a lot of time at the farm learning about nature from Hughes. “He built an old-fashioned log cabin on the property with a huge wooden fireplace and a loft that I would sleep in. He was a naturalist who could identify almost anything in nature. He had a love for the land, as well as being an intellectual.”

He was also a bit of a fashion plate, at least twice in his life.

“My mother said that when he started teaching at the College, he went out and bought a bunch of pinstripe suits and wide ties, which were very much the fashion at the time,” recalls John Farrow. “Of course, they went out of fashion, so he was totally out of style for a very long time, but they came back after The Godfather came out, and suddenly he was the most stylish man in town again.”

RECENT RANKINGS & ACHIEVEMENTS AT COFC US News & World Report ranks the College of Charleston No. 5 among top public Regional Universities (South) in its 2019 edition of Best Colleges. The College was also named a Top 10 school for Best Colleges for Veterans and Most Innovative Schools, and for Best Undergraduate Teaching.

X

The Princeton Review ranked the College's Career Center No. 1 among public master's-level universities in 2017.

X

“ I did some research and was even more honored to receive this scholarship because it was named in memory of such a distinguished professor at the College.”

– Marni Sapolsky ’18

Hughes remained active and spry up until his passing in 1980 at age 94. Farrow recalls his letters to the local Charleston paper, The News and Courier, which were invariably in the form of corrections.

“He had a prodigiously good memory,” recalls Farrow. “He was a very interesting man who was sharp his whole life. He was just one of those people.”

He passed on those good genes, too: Patricia Farrow returned to CofC to study Classical Greek so she could read the Classics in their original language.

“My mom was very attached to the College, and obviously my grandfather was, too,” says Farrow. “We usually get a few letters each year from the students who receive the scholarships, and it’s always nice to hear from them. You feel like you’re passing something on – that Papa is still contributing in some way. He definitely would have appreciated a scholarship that bears his name.” – Tom Cunneff

The College was named as one of the Top 32 colleges for Orthodox Jews

by Forward.com.

X

The College was named Travel + Leisure’s most beautiful college campus in America.

X

Of the Top 25 “Best Value Colleges” in the U.S., Forbes magazine ranked the College No. 7. It was also included in the 2017 “Top College” rankings based on key return-on-investment indicators.

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According to the Institute of International Education, the College is No. 3 among U.S. master's level institutions for the total number of study-abroad participants.

X

The College’s bachelor’s degree in data science was ranked No. 5 in the nation in 2017 by Best Computer Science Schools.

X

Schools.com ranked the College’s international business program No. 2 in the nation.

FOUNDATION ANNUAL REPORT FY2018

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G I V I N G I N AC T I O N For nearly 250 years, the College of Charleston has created pathways of opportunity for talented and deserving students. Meet some of the grateful scholarship recipients who have been directly impacted by the ongoing and generous support of benefactors who are committed to ensuring the College continues and grows this tradition.

SENIOR

JUNIOR

SOPHOMORE

FRESHMAN

Carlin Nelson ’18

Hannah Bentz ’19

Cody Duncan ’20

Kayshawn McCoy ’21

Public Health major

Finance and Accounting double major

Exercise Science major Louise Johnson Small Scholarship

Public Health major McConnell Endowed Scholarship

Charleston, S.C.

“Mother” Emanuel AME Church Endowed Scholarship CofC Fund/Parents’ Fund Scholarship

Wellington, Fla.

Wells Fargo Business Scholarship Endowment Louis P. and Tillie C. Lehrman Scholarship

-

-

“There are not enough words to express gratitude for my scholarship. As a firstgeneration student living under the poverty line, I often got discouraged because I wasn’t able to afford a decent education.

With the help of my donors, I am able to achieve my dream of graduating!”

“I am a double finance and accounting major in the Honors College. I am also in the Investment Society, on the NCAA equestrian team and a member of the Student Alumni Associates.

I also serve on the Student Athlete Advisory Committee and am a tutor. My scholarships and donors allow me to do all of these things without worrying about getting a job to cover tuition.”

14 | COLLEGE OF CHARLESTON FOUNDATION

Leesville, S.C.

“This scholarship is such a blessing because I don’t have to worry so much about how I’m going to pay for school; instead, I can dedicate those efforts to focusing more on my studies.

My scholarship also allows me to participate in extracurricular activities like intramural soccer, swing dancing and spending time with my two brothers who also attend the College!”

Loris, S.C.

-

“I am so grateful for my scholarship.

Because of my donor, I am able to attend college without the strain of so much debt.

Because of my donor, I can further my studies at the College!”

F O U N DAT I O N H I G H LI G H T S â– Support to the College of Charleston from the Foundation includes, but is not limited to, scholarships, continued programs and faculty development in the schools, and support to the Divison of Institutional Advancement.

Over the past 10 years, the Foundation has provided nearly $100 million in funding support to the College.

$12,000,000

$10,000,000

$8,000,000

$6,000,000

$4,000,000

$2,000,000

$0

FY2011

FY2012

FY2013

Student Aid/Scholarships

FY2014

FY2015

Other Mission Support

FY2016

FY2017

FY2018

Support to Institutional Advancement

â– The College of Charleston Foundation maintains a strong balance sheet. Since 2011, the total investments have grown from approximately $63 million to $107 million. Other assets that support the mission of the College of Charleston include buildings, sailboats, fossils, telescopes, art and rare books, among many other resources. $140 $120 $100 $80 $60 $40 $20 $0

FY2011

FY2012

FY2013

FY2014

FY2015 Investments

FY2016

FY2017

Other Assets

FY2018 *$ in millions

FOUNDATION ANNUAL REPORT FY2018

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EN D OW M EN T F U N D S ■ The College of Charleston Foundation’s endowment has grown from $44.7M in 2009 to approximately $92.2M in 2018.

$100 $90 $80 $70 $60 $50 $40 $30 $20 $10 $DEC 09

FY2010

FY2011

FY2012

FY2013

FY2014

FY2015

FY2016

FY2017

FY2018

*The management of the endowment has been provided by TIFF since September 2009.

TIFF (The Investment Fund for Foundations) is the outsourced chief investment officer of the Foundation. *$ in millions

■ The Foundation’s Investment Committee reviews returns vs. benchmarks on a quarterly basis. Endowment funds are meant to be invested and provide support in perpetuity, so returns over the long term are most meaningful.

10.00%

8.00%

6.00%

4.00%

2.00%

0.00%

Trailing 1-Year

Trailing 3-Year

CofC Endowment Pool 16 | COLLEGE OF CHARLESTON FOUNDATION

Trailing 5-Year

TIFF Constructed Index

Trailing 7-Year 65/35 Mix

Since TIFF Inception (09/2009)

CofC spending + CPI

EN D OW M EN T D E S I G N AT I O N S ■ The chart below shows how the $92.2 million endowment funds are designated per school or division.

The Financial Aid portion represents scholarships to be awarded by the Office of Financial Assistance and Veterans Affairs at the donor's request.

SCHOOL OF HUMANITIES AND SOCIAL SCIENCES 3.6%

SCHOOL OF SCIENCES AND MATHEMATICS 7.4%

SCHOOL OF THE ARTS 10.0%

LIBRARY 1.5%

OTHER DEPARTMENTS 20.0%

ATHLETICS 7.5% SCHOOL OF BUSINESS 8.8%

SCHOOL OF EDUCATION, HEALTH, AND HUMAN PERFORMANCE 4.1%

SCHOOL OF LANGUAGES, CULTURES AND WORLD AFFAIRS 14.1%

FINANCIAL AID 16.9% HONORS COLLEGE 5.9%

GRADUATE SCHOOL 0.2%

■ Through gifts and investment growth, the endowment produced income to provide approximately $3M for scholarships, awards, chairs, programs and other support in FY 2018.

CHAIRS/PROFESSORSHIPS 8%

OTHER PROGRAMS 31%

AWARDS 1%

SCHOLARSHIPS 60%

FOUNDATION ANNUAL REPORT FY2018

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CO N S O LI DAT ED S TAT EM EN T OF FINANCIAL POSITION (June 30, 2018 and 2017) (in thousands)

2018

2017

ASSETS

Cash and cash equivalents

427

417

Unconditional promises to give

7,492

7,031

Other assets

1,162

1,144

Investments

107,022

90,726

Property and equipment, net

5,582

6,277

Collections

8,861

8,812

130,546

114,407

106

97

TOTAL ASSETS

LIABILITIES

Accounts payable and accrued liabilities Deferred revenue

-

-

Line of credit

850

1,350

Annuities payable

81

74

Marine genomics grant obligation

1,311

1,239

2,348

2,760

TOTAL LIABILITIES

NET ASSETS Without donor restrictions:

Board-designated

6,748

1,741

Undesignated

7,451

7,336

14,199

9,077

With donor restrictions:

Purpose restrictions

53,925

45,817

Time-restricted for future periods

367

442

Perpetual in nature

59,707

56,311

Underwater endowments

TOTAL NET ASSETS

128,198

111,647

TOTAL LIABILITIES AND NET ASSETS

130,546

114,407

-

-

NOTE: In fiscal year 2017, the Foundation adopted a new FASB pronouncement, which changed the appearance of its financial statements.

This data is from the audited financial statements.

18 | COLLEGE OF CHARLESTON FOUNDATION

CO N S O LI DAT ED S TAT EM EN T O F AC T I V I T I E S (Years ended June 30, 2018 and 2017) (in thousands)

2018 without donor restrictions

2017

with donor restrictions

total

total

13,221

14,346

8,865

729

895

REVENUES, GAINS, (LOSSES) AND OTHER SUPPORT Contributions

1,125

Rental income

729

Interest and dividend income, net

490

659

1,149

961

Realized and unrealized gain (loss) on investments, net

309

6,713

7,022

8,773

-

19

405

426

4,146

-

Special events, net

-

Other income, net

8

Gain on sale of property and equipment

4,146

Changes in value of split-interest agreements

-

Net assets released from restrictions and administrative surcharges Transfers based on changes in donor intent

- 397 - (9)

(9)

(5)

6,807

20,981

27,788

19,934

9,552

(9,552)

-

-

-

-

-

TOTAL REVENUES, GAINS AND OTHER SUPPORT

-

16,359

- 11,429

27,788

19,934

EXPENSES Program General and administrative Fundraising

TOTAL EXPENSES

8,934

-

8,934

9,866

826

-

826

790

1,477

-

1,477

1,728

11,237

-

11,237

12,384

NET ASSETS, BEGINNING OF YEAR

9,077

102,570

111,647

104,097

CHANGE IN NET ASSETS

5,122

11,429

16,551

7,550

14,199

113,999

128,198

111,647

NET ASSETS, END OF YEAR

Complete financial statements and notes are available upon request.

FOUNDATION ANNUAL REPORT FY2018

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FAC T S AT A G L A N C E (as of June 30, 2018)

$128.2 MILLION

Total net assets

$ 107.4 MILLION

Total investable assets

$92.2 MILLION

Total endowment balance

540

16

Number of new endowment funds created in FY2018

43

Number of endowments more than $500k

641

Number of endowment funds

Number of non-endowed/current use funds

$10.5 MILLION

1,248

Total Foundation support to the CofC in FY2018 Number of scholarship awards from Foundation support in FY2018

$3.5 MILLION

Total scholarship dollars provided in FY2018

F O U N DAT I O N B OA R D D I R E C T O R S (as of June 30, 2018)

Peggy G. Boykin ’81

William Glen Brown Jr.’76 Vice Chair Lisa B. Burbage ’81 John B. Carter Jr. Eric S. Cox ’93

Scott A. Cracraft ’83

Amy L. Heyel ’92

Charles Mosteller, M.D. ’81

Theodore “Vic” Howie Jr. ’83 Reba Kinne Huge

R. Keith Sauls ’90 Secretary

Stephen R. Kerrigan Treasurer

Sherrie C. Snipes-Williams

James F. Hightower ’82

Jean W. Johnson

Laura T. Ricciardelli, J.D., MBA

Hilton C. Smith Jr. Immediate Past Chair

Dr. Sam Stafford III ’68

Tina M. Cundari ’96

Jeffery E. Kinard ’77 Chair

Jessica G. Gibadlo ’97

Justin R. McLain ’98

W. Dixon Woodward

David W. Crowley ’02 Dr. Neil W. Draisin ’65 Fleetwood S. Hassell 20 | COLLEGE OF CHARLESTON FOUNDATION

H. Chapman McKay ’86 D. Sherwood Miler III ’74

Steve D. Swanson ’89, Emeritus Chloe Knight Tonney ’84 Tomi G. Youngblood

CONTACT

Chris Tobin Executive Director 843.953.3694 | tobinc@cofc.edu Debye Alderman Assistant Treasurer 843.953.7458 | aldermanda@cofc.edu

66 george st. | charleston, s.c. 29424-0001 843.953.3130 | foundation.cofc.edu