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U N I V E R S I T Y

O F

S O U T H

F L O R I D A

F O U N D A T I O N

Performance Report

2011 / 2012


Table of Contents A Letter from the President..............................1

USF Foundation Board....................................22

A Letter from the Foundation............................2

Statement of Purpose.....................................24

The USF System...............................................3

Endowment Investments................................24

Giving Changes Lives........................................4

Donor Bill of Rights................Inside Back Cover

Financial Statements.......................................18


Dear Alumni and Friends, After 12 years as President of the University of South Florida System, I’m pleased to say that I’ve never been more proud of the University of South Florida System. We are a vibrant, growing community of educational institutions that have each been made fundamentally stronger by your support. During the 2011-2012 Fiscal Year we overcame many challenges but also enjoyed many breakthroughs and triumphs. Like never before, your participation in the life of your university has made a difference. This year, we showed the world how unstoppable a dedicated and determined herd of Bulls can be. A bond has grown over the years between our alumni, friends, and the USF System. This bond has developed because we all recognize the difference the institutions of the USF System have made in our communities, our state, our nation, and in places all around the globe. We say it all the time, and we truly believe it—great relationships fuel great universities. Because of each of you, we will be greater still. This year nearly 47,000 of you gave to the institutions of the USF System through the USF Foundation. It was one of the best fundraising years in our history, made possible because you understand the difference each gift makes for our students and faculty. Our Faculty and Staff Campaign also reached new heights, with a record number of faculty and staff throughout the USF System—more than 2,800 in all­—giving back to their university. Their continuing and growing participation in this Campaign is a testament to their belief in the value of what USF contributes to our community and beyond. This past spring, the USF System celebrated another record number of graduates, numbering well over 6,000 in all. We are honored to be their alma mater and excited by the prospect of their future successes. Many of these graduates are veterans of our armed forces, and we’re proud that the University of South Florida continues to be ranked the 5th most veteran-friendly university in the nation for veterans’ programs. Our focus on research continues, attracting more than $411 million in research grants and contracts this past year. We continue to be a world leader in patent development and one of the Elite 50 Research Universities in America. The resulting economic impact on Tampa Bay grows annually. All of these successes and aspirations we share with you. I’m proud to lead the University of South Florida System that is vibrant, dynamic, and staked to a global leadership position. Thank you for your continued support of the USF System. Working together, we remain unstoppable. Sincerely,

Judy Genshaft, President, USF System

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Dear Alumni and Friends, This year’s USF Foundation Performance Report is really a celebration … of you. Your generosity has touched the lives of every student on every campus of the University of South Florida. Interestingly enough, more than 47,000 students benefitted from the philanthropic efforts of nearly 47,000 alumni, donors and friends just like you. By year’s end, the USF: Unstoppable Campaign remained unstoppable, with contributions totaling just under $82 million and bringing our total campaign to 90% of the $600 million goal. Gordon L. Gillette, Chairman

The pages that follow highlight the great work that is being done at USF and the great philanthropic efforts that make it possible. Here are just a few examples: • Carol and Frank Morsani, transformational donors in their own right, made the single largest gift from individuals in the history of USF this year that led to the naming of the Morsani College of Medicine. They are the personification of commitment and passion that our USF “family” is known for. • In Athletics, a gift from Drs. Shaukat and Antonina Chowdhari led to the construction of a beautiful new facility for our men’s and women’s golf team. • At USF St. Petersburg, a gift from the Hough Family led to the creation of a new chair in the institution’s nationally renowned Florida Studies program. As a result of this new endowment, Dr. J. Michael Francis, an expert in the Spanish heritage of the sunshine state, has joined the faculty. • USF Health’s continuing focus on patient care resulted in another major gift for the Diabetes Center. This gift from the Bynum Family will support the efforts to treat and find a cure for diabetes.

Joel Momberg, CEO

• Throughout the USF System, more than $7 million in scholarships were created and faculty work in classrooms, laboratories and other research settings was funded in part by endowed chairs and professorships … all with your help.

It is all because of you that we are able to celebrate the power of philanthropy. We see every day the difference your generosity continues to make in the lives of our students and faculty. For that, we cannot thank you enough. Your giving makes USF unstoppable.

Our sincere thanks,

Gordon L. Gillette ’81, ’85 Chairman USF Foundation

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Joel Momberg CEO, USF Foundation Sr. VP of University Advancement and Alumni Affairs

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The USF System

Programs Offered 11/12

The University of South Florida System is a young and emerging system formed to bring its member institutions together to collectively serve the Tampa Bay region and beyond, resulting in a stronger presence and a distinctiveness that provides an unstoppable competitive differentiation. The USF System is tasked with finding ways to capitalize on synergies and economies of scale among its institutions that benefit students, faculty, staff, alumni, and communities. As a solution for a metropolitan region of multiple major cities, the USF System is comprised of three members embodying distinct and different missions: USF Tampa, the doctoral granting, research intensive member institution, and two master’s level institutions, USF St. Petersburg and USF Sarasota-Manatee.

Education Specialists (EdS)

Accreditation The University of South Florida, which includes the main research campus in Tampa and USF Health, is accredited by the Commission on Colleges of the Southern Association of Colleges and Schools (SACS) to award degrees at the baccalaureate, master’s, specialist, and doctoral levels, including the doctor of medicine. University of South Florida St. Petersburg and University of South Florida SarasotaManatee are accredited by SACS to award degrees at the baccalaureate and master’s levels.

Bachelor’s Master’s Research Doctoral Professional Doctoral

Total

86 104 2 41 4 237

Instructional Quality Factors Student/faculty ratio (Fall 2011) 25:1 Percent of full-time faculty with

86%

terminal degrees

Freshmen retention (full-time students, Summer/Fall 2011 to Fall 2012) 86% Endowed chairs Endowed professorships Distinguished university professors

53 37 64

Degrees Awarded 10/11 Bachelor’s Master’s Education Specialists (EdS) Research Doctoral Professional Doctoral

Total New Freshmen Fall 2012 Summer 2012 Average high school GPA Average SAT Average ACT Top 20% of high school class National Merit Scholars National Achievement Scholars National Hispanic Scholars Florida residents Out-of-state students States represented

Enrollment Undergraduate Graduate Doctor of Medicine Non-Degree seeking Total male female full-time part-time

9,009 2,717 12 271 145 12,154 3,276 1,369 3.88 1191 27 50% 25 4 15 2,943 333 40

36,225 76% 9,028 19% 553 1% 1,840 4% 47,646 100% 20,218 42% 27,405 58% 32,644 69% 15,002 31% 3


Giving Changes The true power of philanthropy is the power to change lives. Gifts to the USF Foundation have real, tangible effects on the lives of real people­—the students and faculty of the USF System. Included in these pages are just a handful of stories­—stories of lives changed, futures brightened, and research enhanced. These stories are the reasons why we give, and why we continue to say that you make USF Unstoppable.

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Lives

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The USF Diabetes Center is focused on converging research and patient care.

Pursuing a Cure At an age when most toddlers are discovering the joys of the world around them, Lori Cheesman was faced with the hard reality of an incurable disease. Diagnosed with Type I diabetes at age two, she’s spent her young life learning about the importance of good nutritional habits and getting the best possible medical care. She receives all of this at the USF Diabetes Center, including an inviting space where her family can participate in helpful classes, because of USF Health’s commitment to create a collaborative blending of patient care, education, and research all in one place. Propelled by a mission to “dramatically advance the care of diabetes and pursuit of a cure,” the USF Diabetes Center is establishing itself as a national and international leader at the forefront of fighting one of the 21st century’s most insidious diseases. And because of it, the future is now much brighter for Lori and the many other patients of all ages who benefit daily from treatment supported by clinical research projects and basic research.

of the center, along with their personal stories and expressions of gratitude for equally improved lives and hopeful futures. The photos tell many stories: Like Genevieve King, the professional tennis champion, who established the Juvenile Diabetes Foundation chapter in Tampa and is still playing and coaching. Rita Williams is successfully managing her diabetes in her 80s. Carly Stagg keeps playing golf and running cross country. The families of Chase Bynum and Rachel Ragusa have a renewed sense of hope that they can watch their children grow up to pursue their dreams. Sam Fuld, an outfielder for the corporate donor Tampa Bay

Rays, continues to entertain fans as a professional baseball player, despite his own diabetes diagnosis. “The vision to converge research with care is helping us make a significant difference every day,” said Dr. Henry Rodriguez, Medical Director for the Center. “This is made possible because of donors believing in the vision. Research informs the treatment we offer our patients, and then our work with these patients informs future research that can help countless others. We want to bring even more components of multidisciplinary diabetes care under one roof in the future. Our ultimate goal is to cure diabetes.”

“Our philosophy is about helping people,” said Dr. Jeffrey Krischer, Director of the USF Diabetes Center and USF Pediatric Epidemiology Center. “We are about changing lives and improving outcomes.” And outcomes have already improved for Lori, who giggles when she says she can “just be a normal pre-teen” because of the quality of care she receives at USF. Other patients and their families who have financially helped make the USF Diabetes Center a reality are pictured around the walls

Pictured above (far left) is John Horst, owner of Famous Tate, who donated the appliances that made the USF Diabetes Center’s state-of-the-art kitchen possible. Nutritionist Jane Norman (far right) teaches Lori Cheesman (at refrigerator door) and her family a nutritional lesson that is critically important to the health of all diabetes patients and their families.

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Leading

the Charge

Unstoppable donors propel USF student-athletes to new academic and competitive heights

And the effect of these incredible gifts will be felt for years to come, in a myriad of ways, members of the coaching staff believe. These facilities will elevate all USF programs as coaches are able to attract and train a higher caliber of student-athlete than ever before.

The 2011-2012 academic year was an historic one for USF Athletics: men’s soccer made their fifth straight NCAA Tournament appearance; women’s golf won their first Big East Championship; women’s softball made their College World Series debut; and, of course, men’s basketball made the Bulls’ first NCAA Tournament appearance in a generation.

Women’s Golf Head Coach Marci Kornegay, named the Big East Coach of the Year in 2012, said in two to three years you’ll see an entirely new women’s golf team in play, thanks to the recruiting and training developments the Chowdhari Center will inspire. And she sees a national championship in their near future.

Also in 2011-12, the USF: Unstoppable Campaign literally changed the USF Athletics District landscape, with the completion of $35 million in new practice and playing facilities: the Pam & Les Muma Basketball Practice Center, the Chowdhari Golf Center, the Corbett Soccer Stadium, and the new USF Softball and Baseball Stadium, featuring the Gonzmart Family Plaza. “Our student-athletes’ successes are the result of these new facilities provided by generous donors who share the coaches’ vision of USF as an athletic powerhouse,” said Athletic Director Doug Woolard.

Men’s Soccer Head Coach George Kiefer said the new Corbett Stadium is a boon to the community as well as his players: “We’ve hosted high school championships, and our teams are playing in a packed stadium with truly electric energy. It’s good for the fans and for the community, and inspiring for current and aspiring players. Corbett Stadium is something we can all rally around.” “The university is intertwined with the Tampa Bay community,” Coach Heath agreed. “Inviting the community into our new facilities, getting them involved with our teams and celebrating with our student-athletes enhances the greatness of our university.”

Men’s Basketball Head Coach Stan Heath, named the Big East Coach of the Year in 2012, credited the Muma Center with propelling his team into the Big East Conference Finals for the first time in 20 years. These state-of-the-art buildings have increased team identity and cohesion and development of student-athletes, Coach Heath said: “They’ve created an amazing sense of pride in our student-athletes. School spirit and the sense of team as family has grown incredibly as our athletes have facilities that are like second homes,” where they can develop their athletic skills, nurture their social interactions, and improve their academic performance. USF student-athletes will continue to benefit from training for competition at the highest level with a broad array of professional options after college, whether as professional athletes or leaders in other fields.

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USF coaches and student-athletes rose to new competitive heights in 2011-2012, thanks to a $35 million injection of USF: Unstoppable Campaign donations that created new practice and playing facilities. Standing, from left to right: Women’s Softball Pitcher Lindsey Richardson, ’13; Men’s Basketball Point Guard Anthony Collins, ‘15, and Head Coach Stan Heath (Big East 2012 Coach of the Year); Women’s Golf Head Coach Marci Kornegay (Big East 2012 Coach of the Year) and Golfer Shena Yang, ‘13. Kneeling: Men’s Soccer Team Captain Leston Paul, ‘13.

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Private benefactors make it possible for USF St. Petersburg professors—and their students—to delve into Florida Studies.

Discovering

Florida Thanks to the generosity of private benefactors who appreciate the unique nature of this state they call home, the University of South Florida St. Petersburg offers a remarkable educational and research treasure: the Florida Studies Program. Nestled in the historic Snell House under the shade of live oak trees, Florida Studies is a graduate-level program combining history, English, marine science, geology, geography, political science, journalism, fine arts, and anthropology. This multidisciplinary approach was intended to “try to make sense of this mystifying, infuriating, endearing state of Florida,’’ said Gary Mormino, PhD, who co-founded the program with fellow History professor Ray Arsenault, PhD. Both hold endowed professorships, giving them the resources for research as well as teaching. Dr. Arsenault is the John Hope Franklin Professor of Southern History and Dr. Mormino is the Frank E. Duckwall Professor of History.

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Joining the program this year is J. Michael Francis, PhD, an expert in Spanish colonial Florida who holds the new Hough Family Endowed Chair in Florida Studies. The three agree that the greatest impact of the endowments is measured through students. “It’s phenomenal; it really is,’’ said Dr. Francis, who specializes in the study of 15th- and 16th-century Spanish documents. The Hough chair will allow him to hire graduate assistants and lead annual student research trips to important archives in Spain. That research is helping historians better understand Spain’s impact on Florida, a complex period Francis said has been neglected, partly because the research is so arduous. Without private donations, he explained, “it is virtually impossible to maintain that scholarly agenda.’’ Arsenault said the endowment creating his professorship allowed him to write Freedom Riders, his most celebrated book that was turned into an award-winning documentary.

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The endowment, he said, helped pay for travel and provided his graduate students with experience as research assistants. Luckily for USFSP, the John Hope Franklin Professorship and its spacious office in the Snell House, with ample library space and room for writing and research, anchored Arsenault to the university at a time when he was being wooed by another. Without it, he said, “I’d probably be gone.’’ If he had left, it’s likely the Florida Studies Program would never have been born. He and Mormino proposed the program and nurtured it through its early days. Their long labors were recognized by the Florida Historical Society with Lifetime Achievement Awards. “We can’t imagine this program without the professorships,’’ Arsenault said. “We wouldn’t have been able to do the quality or quantity of work we’ve done.’’ This type of donor support has also allowed them to spread their work to a wider audience through workshops and public appearances. “We won’t really know the full impact until our students are out there,’’ Mormino recently said. “I think our students are going to be professors, teachers, mayors, directors of museums­—but mostly better Floridians, better citizens. They are the real beneficiaries—the students.” And the Florida that they will help to nurture and change.

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Endowed professors (left to right) Dr. Gary Mormino, Dr. Raymond Arsenault, and Dr. J. Michael Francis conduct research and teach at USF St. Petersburg through the multidisciplinary Florida Studies program.

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Making a

Left to right, Dr. Howard Johnston, Lorene Hall-Jennings, and Jim Louk represent the more than 2,800 employees of the USF System who generously contributed to the USF: Unstoppable Campaign this past year.

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Difference

Where They Work Dr. Howard Johnston, Lorene Hall-Jennings, and Jim Louk have dedicated more than 70 combined years of service as employees of the University of South Florida. Above and beyond this significant dedication is their individual commitment to give back financially to USF. They are just three of the more than 2,800 employees of the USF System who joined together this past year in giving more than $1.3 million through the ongoing USF: Unstoppable Campaign, emphatically expressing the collective faculty and staff commitment to making a difference where they work. “We have tremendous respect for USF students, many of whom are the first in their families to attend college,” said Howard Johnston, USF Physics and Chemistry professor, when asked why he and wife Lucinda have chosen to give back to USF for so many years. Their donations include support for graduate students and programs in social studies education through the College of Education. “We both came from humble financial circumstances, and it was the generosity of donors to scholarships and other funds that helped us get our own degrees. Our way to repay those gifts is to do our part in helping current students reach their goals.” Lorene Hall-Jennings, academic services administrator for Graduate and Undergraduate Studies in the College of Arts and Sciences, began her legacy of giving after benefitting from the Dollars for Staff Scholars fund that enabled her to complete her bachelor’s degree. “I was so moved by the thoughtfulness of someone’s anonymous generosity that I wanted to do the same in return,” said Hall-Jennings. “The annual Faculty & Staff Campaign makes giving easy through payroll deduction, and I can make a gift to any area of my choice. Because the Faculty & Staff Campaign does not have an overhead fee, I know that 100 percent of my gift is designated to areas I personally select. And because I believe in giving so much I also volunteer as a campaign representative.” As supporters of USF, these faculty and staff members understand the impact their philanthropy has on the institution. They give believing that their investment in USF can make a difference in the lives of students, the surrounding community, and even the world.

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USF System faculty and staff donors give to help current students reach their goals. “Working in Athletics, I can see firsthand the difference giving makes to our department and beyond,” said Jim Louk, Assistant Athletic Director and official voice of the Bulls. “I give to help provide the best student experience possible. When students graduate, succeed in life, and are proud of USF, we all benefit as employees of a university that is consistently recognized as outstanding.” As an alumna and employee of USF, Hall-Jennings may have summed it up best. “In the true spirit of giving, my hope is that the gifts I provide will come full circle so that future generations may benefit--faculty, staff, and students. I feel privileged to be a part of the USF community.”

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Because Someone

Cared

A single scholarship changes lives beyond the studentrecipient, inspiring academic success, community involvement, and a desire to help others succeed.

Among the USF alumni and current students who have received the Dominick & Emelene Aripoli scholarship you’ll find a documentary filmmaker, an aspiring ambassador, a Florida Hispanic Heritage Excellence in Education award-winner, and a soon-to-be PhD candidate who earned four USF degrees in four-and-a-half years. This level of student success is impressive for a program so young: The scholarship was created in only 2005. And each of these exceptional students said they owe their success to “a stranger who believed in me.” That person was Dr. Don Aripoli, who established an endowed scholarship to honor his parents and free promising students from the worries of taking on student debt to gain a college education. The program, he said, is designed to “not only provide money but also to instill an expectation of success—to create a culture of student role models who could say, ‘I did it, with help, and you can, too.’” The ripple-effect of Dr. Aripoli’s philanthropy is easy to see: It starts with the students he helps and spreads through them to the individuals who benefit from their community service and leadership. For example, one Aripoli scholar has established a program that collects surplus medical supplies for distribution to developing countries, and another, a high school teacher, is applying

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her USF undergraduate and graduate research to Hillsborough County curricula to foster success among Hispanic students. The Aripoli Scholarship embraces the broader Latino Scholarship program’s motto: “We must lift as we climb.” This commitment to building up others plays itself out among the scholarship students who can mentor each other: “I was so stressed about changing my major to Political Science—I’d worked toward PreMed for so long—but another Aripoli scholar encouraged me, saying, ‘Yes, you can do this,’” recalled current senior Lianet Vazquez, who dreams of becoming a U.S. ambassador in the Middle East. And it’s also seen in their attitude and actions once they take their place in the world beyond USF, where they inspire those around them to succeed, as well. “Someone I didn’t know took an interest in my education, believed I could succeed, and gave me the financial support to do it,” said Hillsborough County High School Teacher Monica Sleeter. “My personal mission is to lower the drop-out rate, especially among Hispanics. So I tell my students, ‘Someone believed in me, and I did it. I believe in you, and you can do it, too.’” We must lift as we climb.

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Current students and proud USF alumni who credit USF: Unstoppable donor Dr. Don Aripoli with inspiring their success and desire to help others: Standing, left to right: Pedro Gomez, ’11, and Kimberly Andrade, ’14. Seated, left to right: Lianet Vazquez, ’13; Monica Sleeter, ’06; and Farah Britto, ’12.

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A Transforming 14

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The Tampa Bay Lightning has teamed up with the USF College of Business to offer a dynamic new MBA in Sport and Entertainment Management.

The new Master of Business Administration (MBA) in Sport and Entertainment Management at USF is a unique program. This partnership with the USF College of Business and the Tampa Bay Lightning professional hockey team began this fall with its inaugural cohort of 24 students. Its inception launches a unique two-year partner program that immerses students and faculty in the business of sport and entertainment management. “The ability to work with a professional sport organization both in the classroom and out is what made this a clearcut choice for me,” said inaugural cohort member and USF graduate, Eric Holland. “In looking at the program I found that the quality academics of USF are backed by a respected leader in this industry, Dr. Bill Sutton, so I have tremendous confidence in this program.” Sutton believes in the program because of what it has to offer. “These students will share real jobs through the second-year residency program with the Lightning,” stated Sutton, founding program director. “That is what makes this opportunity unique.” Guided by Lightning staff and taught by USF professors, students are a part of an educational experience that includes work in various business units and involvement

in every facet of the Lightning game-day operations. They apply what they learn through MBA coursework to their jobs, relating their work experiences back to the classroom. “Dr. Sutton is one of the best in the business,” said inaugural student Jamie Grant, “and to have the opportunity to study under him and gain industry experience through our residency program is invaluable. I know I will gain a much more in-depth knowledge of management skills and business structure specific to the industry because of this opportunity.” “These students are going to be able to fill senior roles here and really make a difference in our organization,” said Tampa Bay Lightning Owner Jeff Vinik. “Every student that’s admitted to the program is going to have an internship, either with the Lightning or another team in town.” “It is the only program in the country that offers this kind of real world experience… and provides the intellectual underpinnings through a world class business education,” said inaugural student Gregg Williams. “This combination of theory and practice will make me a more successful and dynamic leader and equip me with the necessary tools to lead one of those organizations in the future.”

Standing in front of the Tampa Bay Times Forum, where the Lightning play their home games, Dr. Bill Sutton (center), Sport and Entertainment Management MBA founding director, is surrounded by inaugural MBA candidates (left to right) Matt Schick, Gregg Williams, Jamie Grant, and Eric Holland.

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A Personal

Prescription The result of a generous gift to the USF: Unstoppable Campaign, the Monsour Executive Wellness Center offers one-stop, personalized patient care.

The Monsour Executive Wellness Center, made possible by a generous gift from Barbara and Dr. Roger Monsour, is doing much more than providing medical services for the busy executive on the go. It’s saving lives. Part of the Morsani College of Medicine, the Monsour Center is designed to give executive physicals over the course of half a day, eliminating the need to move from doctor to doctor, specialist to specialist. The Center’s director, Deann Marasco, believes that the Center is just as much for busy people as it is for busy executives.

Monsour Executive Wellness Center

“I think it’s important to understand that what we really offer is a customizable personal physical,” said Marasco. “Healthcare is not one-size-fits-all, and our focus is on ensuring that everyone who walks through our doors receives personalized service and personalized treatment. We never forget that we’re patients too, and that what’s daunting for us will be equally daunting for our clients.” One such client, Tampa Bay business owner Colleen Chappell ’88, credits her personalized physical with possibly saving her life. “I am very lucky. I decided as a New Year’s Resolution to spend a day at the Monsour Center. Had I not done so, I would have missed my cancer diagnosis, and by the time of my next regular physical, it would likely have been stage 3 cancer.”

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Dr. H. James Brownlee and Client Nick Hall at the Monsour Executive Wellness Center.

Not all clients receive life-changing diagnoses. Some, like outdoor adventurer and USF faculty member Nick Hall, use the Center to make sure they are ready for new challenges. Prior to kayaking around the state of Florida—1,200 miles in all—Hall spent a day with the Monsour Center to make sure he was up for the journey. “The clinical expertise you find at the Monsour Center is second to none,” said Hall. “I had full confidence that whatever recommendations were made to me, they would be grounded in the latest medical research. When we were done, I knew I was up to the event. The objective is to finish and to stay alive—so knowing what’s going on inside you is extremely important.”

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Dr. H. James Brownlee, the Center’s medical director, believes the Monsour Center fills a longstanding need for the Tampa Bay community. “Before the Monsour Center was established, people from Tampa would travel great distances for the kinds of services we provide,” Dr. Brownlee said. “They don’t have to do that now. In fact, people are traveling great distances to Tampa Bay to see us, because we deliver a quality service, better than other, similar organizations.” For Marasco, everything at the Center begins with the principles established by the Monsours. “I firmly believe in the Monsours’ vision,” she said. “They truly care about people, and we do too.”

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Financial Statements FY 2011/2012 Statements of activities and changes in net assets year ended June 30

Revenues Contributions, gifts, and bequests

2012

2011

$ 5 3,054,676

$ 76,547,595

Special events and fundraising activities

1,573,595

1,960,161

Investment gains, net

3,499,402

72,665,799

Other

4,204,345

4,011,697

62,332,018

155,185,252

TOTAL REVENUES

Expenses Program services

$65,964,792

$93,729,369

Operating costs

2,885,564

2,586,949

Fundraising costs

4,117,255

3,764,850

1,490,696

872,688

Provision for uncollectible pledges

TOTAL EXPENSES

74,458,307

100,953,856

Change in net assets before change in value split interest agreements

(12,126,289)

Change in value of split interest agreements

153,117

54,231,395 1,204,607

CHANGE IN NET ASSETS

(11,973,172)

55,436,002

NET ASSETS, BEGINNING OF YEAR

473,219,382

417,783,379

NET ASSETS, END OF YEAR

$461,246,210

$ 473,219,381

Ernst & Young issued an unqualified (clean) opinion on the USF Foundation’s financial statements for FY2011-2012 with no management letter comments. Of the $66 million in expenses for program services shown above, $7.0 million was expended for scholarships and awards granted to USF students and $15.7 million was distributed for salaries and other supplements in support of USF faculty and staff.

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Statements of Financial Position As of June 30 ASSETS

2012

Cash and cash equivalents

$

2011

990,844

$ 7,479,567

78,027,742

81,825,775

Endowment investment pool

357,302,326

371,063,605

Contributions receivable, net

42,363,528

41,739,809

Other assets

16,134,783

15,738,657

Operating investment pool

TOTAL ASSETS

$494,819,223

$517,847,413

Liabilities and Net Assets

LIABILITIES: Accounts payable and accrued expenses

$

Amounts due to third-party beneficiaries Due to the University of South Florida Other liabilities

8,656,647

$ 6,115,306

18,270,879

15,887,639

6,189,142

21,899,458

456,345

725,628

TOTAL LIABILITIES 33,573,013 44,628,031

NET ASSETS

461,246,210

473,219,382

TOTAL LIABILITIES AND NET ASSETS $494,819,223

$517,847,413

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Campaign History $600,000,000 ■ Campaign USF 1985–1991

$500,000,000

■ Great Achievements Great Expectations Campaign 1995–2001

$400,000,000

■U  SF: Unstoppable Campaign through June 30, 2012

$300,000,000

■ USF: Unstoppable Campaign Goal

$200,000,000

$600,000,000 $539,627,837

$256,000,000

$117,000,000 $100,000,000

20

U S F F O U N DAT I O N P ER F O R M A N C E R EP O R T

2011/2012


Fiscal Year to Date Commitments FY 2011/2012 By Dollars ■ Outright Gifts

$45.2m

■ Planned Gifts

$21.3m

■ Pledges $11.4m ■ Private Research Grants

$2.6m

■ State Match Pledges

$1.3m

TOTAL

$81.8m

By Donor ■ Corporation $34.8m ■ Friend $27.3m ■ Alumni $7.5m ■ Private Foundation ■ Employee, Parent, Group and State Match TOTAL

$7m $5.2m $81.8m

By Purpose ■ Program Enhancements

$69m

■ Unrestricted $3m ■ Scholarships & Fellowships $7.4m ■ Facilities & Equipment

$1.2m

■ Chairs & Professorships

$1.2m

TOTAL

U S F F O U N DAT I O N P ER F O R M A N C E R EP O R T

2011/2012

$81.8m

21


USF Foundation Board Officers Chairman Gordon L. Gillette ’81, ’85 President Tampa Electric/Peoples Gas, Tampa, FL

Assistant Treasurer Oscar J. Horton President Sun State International Trucks, Tampa, FL

Treasurer Alan C. Bomstein President & CEO Creative Contractors, Inc., Clearwater, FL

Government Relations Committee Chair John R. Schueler John R. Schueler Media General, Inc., Richmond, VA

Audit Committee Chair George Morgan, CPA ’76 Chief Executive Officer vRad, Eden Prairie, MN

Vice Chairman Linda O. Simmons ’75 President & CEO Simmons Management Services, Inc., Tampa, FL

Immediate Past Chairman Leslie M. Muma ’66 Chairman & CEO (Retired) Fiserve, Inc., Belleair, FL

Secretary Joe P. Teague Managing Partner Northwestern Mutual Financial Network, Tampa, FL

Board Members Don A. Aripoli, PhD VP Emeritus for Student Affairs (Retired) Missouri State University, Springfield, MO Charles R. Baumann ’71 Principal and CPA Kerkering, Barberio & Co., P.A., Sarasota, FL Delano E. Bellew President Bellew Investments, Clearwater, FL The Honorable Franklin N. Biggins ’69 Circuit Court Judge (Retired) Magistrate Court of Fulton County, Atlanta, GA Shaukat H. Chowdhari, MD President & Medical Director University Pain Management Center, PA, Tampa, FL Cornelia G. Corbett Community Volunteer & Philanthropist, Tampa, FL T.J. Couch ’94, ’05 Vice President University Commercial Center, Tampa, FL William A. Eickhoff ’69, ’73 Principal Sabal Trust Company, Tampa, FL Mark Fernandez Senior Vice President & Chief Sales Officer Tampa Bay Rays Baseball, Ltd., St. Petersburg, FL Keri A. Gawrych ’87 Exec VP Division/Senior Credit Officer SunTrust Bank, Ft. Lauderdale, FL Judy L. Genshaft, PhD (Ex-Officio) President University of South Florida System, Tampa, FL

22

Herbert Gimelstob President/CEO Gimelstob Enterprises, Inc., Palm Beach Gardens, FL Richard Gonzmart Owner Columbia Restaurant Group, Tampa, FL John C. Greer ’72 Owner & President Westshore Consulting, Tampa, FL Arthur M. Guilford, PhD (Ex-Officio) Regional Chancellor USF Sarasota-Manatee, Sarasota, FL Richard Heruska ’99 (Ex-Officio) President USF Alumni Association, Tampa, FL The Honorable Pam Iorio ’01 Leadership Speaker/Advisor The Woodard Group, LLC, Tampa, FL Stephanie H. Johnson ’81, ’05 President Holmquist Educational Consultants, Inc., Plant City, FL Tina P. Johnson ’78, ’80 Advisor to CEO Publix Super Markets, Inc., Lakeland, FL Brian P. Keenan ’86 Regional President, West & Central Fla. First National Bank of the Gulf Coast, Tampa, FL Thomas R. Kennedy ’73 Chairman / Chief Technology Officer BackOffice Associates, Inc., Brewster, MA

U S F F O U N DAT I O N P ER F O R M A N C E R EP O R T

2011/2012


Victor P. Leavengood Corporate Treasurer (Retired) GTE Florida, Tampa, FL

Charles F. Touchton President (Retired) The Touchton Group, Tampa, FL

Ann Liguori ’82 President Ann Liguori Productions, Inc., Westhampton, NY

David Touchton ’65 (Ex-Officio) Interim Regional Chancellor USF Lakeland, Lakeland, FL

Elizabeth G. Lindsay ’83 Partner L3 Farms, Sarasota, FL

Ralph C. Wilcox, PhD (Ex-Officio) USF Provost & Sr. Vice President University of South Florida System, Tampa, FL

John Long (Ex-Officio) COO & Sr. VP for Business & Finance University of South Florida System, Tampa, FL Linda D. Marcelli Sr. Vice President Lucky’s Sun Ripened Tomatoes, Brooklyn, NY Joel Momberg (Ex-Officio) CEO of the USF Foundation & Sr VP for University Adv & Alumni Affairs University of South Florida System, Tampa, FL Roger D. Monsour, DO Physician (Retired) Tampa, FL Ray E. “Chip” Newton Treasurer National Psoriasis Foundation, St. Petersburg, FL Betty Otter-Nickerson ’76 Chief Operating Officer Sun Dental Labs, Tampa, FL Carole F. Philipson Office of Administration Florida Hospital-Carrollwood, Lakeland, FL

Emeritus Society Richard L. Brown ’67 Managing Member Richard L. Brown & Company, Tampa, FL

Frank J. Rief, III Attorney of Counsel Akerman Senterfitt, Tampa, FL

The Honorable Raymond O. Gross ’69 Circuit Court Judge Pinellas County, Clearwater, FL

Dr. Paul R. Sanberg, PhD, DSC Vice President for Research & Innovation President, USF Research Foundation, Tampa, FL

Frank L. Morsani ’05 Owner & President Automotive Investments, Lutz, FL

Nancy M. Schneid ’79 President Nancy Schneid, LLC Consulting, Tampa, FL

Mandell Shimberg ’02 Chairman Shimberg-Cross Company, Tampa, FL

Robert Silvest ’88 (Ex-Officio) President USF Bulls Club, Tampa, FL

Governor Gus A. Stavros ’86 Chairman PELAM Investments, Inc., St. Petersburg, FL

Geoffrey A. Simon ’90 Sr. Vice President, Investments Simon Johnson Stanger Wealth Advisors, Tampa, FL

Joseph W. Taggart President Taggart Properties, Inc., Tampa, FL

John T. Sinnott, MD ’71 Dir. Div. of Infectious Diseases & Internal Medicine USF College of Medicine, Tampa, FL Richard Smith ’72 Managing Partner (Retired) Christopher, Smith, Leonard, Bristow & Stanell, PA, Sarasota, FL Margaret M. Sullivan, PhD (Ex-Officio) Regional Chancellor USF St. Petersburg, St. Petersburg, FL U S F F O U N DAT I O N P ER F O R M A N C E R EP O R T

Stella Ferguson Thayer, Esq. Attorney at Law Macfarlane Ferguson & McMullen, Tampa, FL Jerry Williams Sr. Vice President (Retired) RW Baird & Company, Tampa, FL

2011/2012

23


Statement of Purpose The USF Foundation is a private, not-for-profit corporation chartered pursuant to Florida law as the legal conduit for the solicitation, acceptance, investment, and distribution of all private gifts made to the University of South Florida System. The USF Foundation promotes higher education in general, and specifically encourages the advancement of teaching, research, and public service through private support for the university’s academic and student development endeavors.

The Foundation is guided by a Board composed of business and community leaders who are vitally interested in the welfare of higher education in the greater Tampa Bay region and in Florida. The Board directs the receipt and administration of private funds, properties, and services contributed, in support of activities directly related to the mission of the University of South Florida System.

Endowment Investments The primary, long-term objective of the endowment is to preserve the intergenerational equity of endowed gifts while providing a consistent source of funding for the University. To accomplish this objective, the USF Foundation considers all combinations of asset classes, in order to obtain the highest level of return given an acceptable level of risk. The Investment Committee is the Foundation Board’s conduit for the investment of all funds held by the USF Foundation. The Investment Committee makes recommendations to the Board for such investment initiatives as asset allocation and spending. Those recommendations approved by the Board are implemented

24

by the Foundation’s management with the assistance of a professional investment advisor and asset custodian. The Foundation publishes an annual Investment Prospectus which provides further details on the investment objectives, philosophy of asset management, asset allocation plan, investment manager communication, spending and fee policies, and gift acceptance criteria. If you have not already received our Investment Prospectus, please contact our Office of Donor Relations at (813) 974-2035 or visit the Foundation Publications and Documents section of our website at giving.usf.edu.

U S F F O U N DAT I O N P ER F O R M A N C E R EP O R T

2011/2012


Donor Bill of Rights Philanthropy is based on voluntary action for the common good. It is a tradition of giving and sharing that is primary to the quality of life. To assure that philanthropy merits the respect and trust of the general public, and that donors and prospective donors can have full confidence in the not-for-profit organizations and causes they are asked to support, we declare that all donors have these rights: • To be informed of the organization’s mission, of the way the organization intends to use donated resources, and of its capacity to use donations effectively for their intended purposes. • To be informed of the identity of those serving on the organization’s governing board, and to expect the board to exercise prudent judgment in its stewardship responsibilities. • To have access to the organization’s most recent financial statements. • To be assured their gifts will be used for the purposes for which they were given. • To receive appropriate acknowledgment and recognition. • To be assured that information about their donations is handled with respect and with confidentiality to the extent provided by law. • To expect that all relationships with individuals representing organizations of interest to the donor will be professional in nature. • To be informed whether those seeking donations are volunteers, employees of the organization or hired solicitors. • To have the opportunity for their names to be deleted from mailing lists that an organization may intend to share. • To feel free to ask questions when making a donation and to receive prompt, truthful and forthright answers. The text of this statement in its entirety was developed by the American Association of Fund-Raising Counsel (AAFRC), Association for Healthcare Philanthropy (AHP), Council for Advancement and Support of Education (CASE), and the Association of Fundraising Professionals (AFP), and adopted in November 1993. The University of South Florida Foundation subscribes to this Donor Bill of Rights.

U S F F O U N DAT I O N P ER F O R M A N C E R EP O R T

2011/2012

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USF FOUNDATION UNIVERSITY OF SOUTH FLORIDA 4202 EAST FOWLER AVENUE, ALC100 | TAMPA FL 33620 (813) 974-2035 giving.usf.edu

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