SHAPING THE FUTURE THE UNIVERSITY OF RHODE ISLAND FOUNDATION ANNUAL REPORT | FISCAL YEAR 2017
CONTENTS: Message from the University President. . . . Message from the Foundation Leadership . Cracking the Earthquake Code. . . . . . . . . . Swimming in the Guppy Tank . . . . . . . . . . . Peace, Practiced. . . . . . . . . . . . . . . . . . . . . Tiny Tech, Big Breakthrough. . . . . . . . . . . . Strings Attached . . . . . . . . . . . . . . . . . . . . . Dedicated to Education. . . . . . . . . . . . . . . . A Legacy of Generosity. . . . . . . . . . . . . . . . Survival of the Fittest. . . . . . . . . . . . . . . . . . News Briefs. . . . . . . . . . . . . . . . . . . . . . . . . President’s Circle. . . . . . . . . . . . . . . . . . . . . Board of Directors. . . . . . . . . . . . . . . . . . . . Foundation Trustees . . . . . . . . . . . . . . . . . . The URI Endowment . . . . . . . . . . . . . . . . . . Fundraising Highlights. . . . . . . . . . . . . . . . . Financial Report . . . . . . . . . . . . . . . . . . . . . Ways to Give . . . . . . . . . . . . . . . . . . . . . . . .
. . . . 2 . . . 3 . . 4, 5 . . 6, 7 . . 8, 9
10, 11 12, 13 14, 15 16, 17 18, 19 20-23 24, 25
. . . 26 . . . 27 28, 29
. . . 30 . . . 31 . . . 32
ANNUAL REPORT F Y 2017 y
1
z MESSAGE FROM THE UNIVERSITY PRESIDENT Dear Friends, As we’ve joined together throughout the past year to celebrate the University’s 125th
anniversary, we’ve had many opportunities to reflect on our rich history and traditions. Our appreciation of the past allows us to acknowledge our achievements while continuing a remarkable upward trajectory, toward even greater accomplishments.
Our impact reaches well beyond the borders of our campus, state, or nation. The discov-
ery, creativity, and scholarship taking place every day at the University of Rhode Island drive the significant and rapidly growing influence of the University.
At the heart of our success lie our students and our faculty, whose curiosity and devotion
to knowledge translate into innovation. As reflected in the pages that follow, they are
helping create sensors to detect cancerous cells, conducting vital climate-change research,
leveraging big data for real-world solutions, exploring new levels of musical performance, and seeking peaceful solutions to violence in our world.
Thanks to their contributions, the University is at the forefront of solution-based research
that has the power to improve our lives, our communities, and our world. Together with our
supportive and dedicated alumni, our faculty and students exemplify all that makes this University exceptional.
I appreciate your important role in our success, and I extend my thanks to you for your
continued partnership as we collectively work to propel URI further than our founders, back in 1892, could ever have imagined.
Sincerely,
2
y THE URI FOUNDATION
David M. Dooley, Ph.D.
President, University of Rhode Island
z MESSAGE FROM THE FOUNDATION LEADERSHIP Friends, We proudly stand alongside you to recognize this moment in URI’s history. One hundred and
twenty-five years of remarkable progress in educating the leaders of tomorrow — in virtually every
field of work and study — is indeed something to celebrate. One need not look far to find standout examples of the creativity, transformative research, and professional excellence that set URI apart.
Our students, faculty, and alumni define the University of Rhode Island through their achieve-
ments, hard work, and service to communities the world over, and in so doing, they increase the value of every URI degree.
Building on the genuine pride we all share for this institution, we look to increase support so
that URI will continue to grow and evolve. And, with the knowledge that there is great competition
for your philanthropic support, we are committed to demonstrating to you that URI deserves to be among your top three choices.
Last year, thanks to you, we secured a significant rise in resources over the previous year. And
the expert contributions of our board volunteers helped us refine our investment strategy to maximize the performance of our endowment, while enhancing the impact it makes across the University. We
pledge to continue to marshal the resources of a foundation of our size to maximize the impact of your contributions to URI and to secure additional support from our alumni, parents, and friends.
We hope you read the following pages with interest and with the knowledge that our University
continues to excel, thanks to your continued commitment. On behalf of the entire University commu-
Our students, faculty, and alumni define the University of Rhode Island through their achievements, hard work, and service to communities the world over.
nity, we thank you. Sincerely,
Elizabeth Breul O’Rourke
President, URI Foundation
Thomas M. Ryan ’75
Chairman of the Board, URI Foundation ANNUAL REPORT F Y 2017 y
3
With September’s devastating earthquake in Central Mexico still fresh in our memory, the work being done in Wei’s lab is more urgent than ever.
4
y THE URI FOUNDATION
Cracking the earthquake code URI SEISMOLOGIST ANALYZES BIG DATA TO HELP PREDICT FUTURE QUAKES
O
n April 4, 2010, Matt Wei was standing in a crowded conference room in
San Diego when the floor began shaking beneath him. “Everyone started running out,” Wei recalled. “At the time, I was thinking it was the south-
ern San Andreas Fault, because we were expecting a large one there.”
It wasn’t the notorious fault in California, but Wei, an assistant professor
and geophysicist at URI’s Graduate School of Oceanography, said he’s still
anticipating a significant event in California: “It will happen. We know that. The only question is when and how big.”
Today, Wei is hoping to help answer that question. The recipient of a prestigious National Science
Foundation Award for $601,000, he is working to produce a next-generation dynamic model of the earthquake cycle that will transform the current understanding of earthquake behavior into something
that is quantitative and predictive. To accomplish that, he’s analyzing big data gathered from sensors that will integrate the two types of earthquake simulations that are currently in use. “My goal,” he said, “is to combine these two sets of simulations to create a more comprehensive model.”
The fundamental challenge of studying earthquakes along fault lines is the long interval between
large events; the last large San Andreas earthquake was in 1857. So Wei and his team will first be ap-
plying their new model to ocean faults, which have much shorter repeat intervals of five years or less. Those results, in turn, will have implications for hazard assessment of faults like San Andreas.
Another challenge Wei faces is managing the enormous amounts of data he’s working with. As
a member of URI’s Big Data Collaborative, he’s hoping to find help in meeting that challenge. “There are other hires in the big data cluster who are experts in optimizing software or optimizing hardware,”
he said. With September’s devastating earthquake in Central Mexico still fresh in our memory, the work being done in Wei’s Lab is more urgent than ever.
Supporting the student experience There’s a distinct glimmer in his eyes when Jared Rondeau ’17 talks algorithms, artificial intelligence, analytics, and big data applications. As an undergrad (he is currently at URI studying for his master’s), Rondeau held a summer-long internship at Expedia/Hotwire in Seattle that exposed him to the big business of big data. While there, he worked on a model to predict the satisfaction that customers would experience from the hotel deals offered to them and saw, firsthand, how Hotwire uses unimaginably large sums of aggregate data to inform and drive business decisions. “The opportunity to put what I have learned to use in the real world was an awesome experience,” Rondeau said. The recipient of a number of undergraduate scholarships, including the Petrocelli Endowed Scholarship in Computer Science, Rondeau values the support that helped him get to where he is today. “It’s expensive, especially when you think about going on to advanced degrees. Scholarships help, and I really do appreciate them.”
ANNUAL REPORT F Y 2017 y
5
Supporting faculty excellence Professor of Accounting Alejandro Hazera is unabashedly proud to hold the Richard Vangermeersch Professorship in Accounting in the College of Business Administration. “Richard Vangermeersch is the reason I came to URI,” said Hazera. Vangermeersch, a professor emeritus who retired in 2005, influenced the accounting faculty to view their subject in broad social terms. “We really value research and teaching on how accounting impacts society, how culture and accounting interact,” said Hazera. Those concepts are embodied in the diversity of the accounting area’s student body and are reflected, for example, in the very successful student chapter of the National Association of Black Accountants. This group, and others, help make URI students particularly appealing to international CPA firms and companies. “They want employees who can deal with people from all over the world, who understand how a country’s culture impacts the way its corporations report financial information. I think we’re very strong on that.” 6
y THE URI FOUNDATION
Swimming in the Guppy Tank COMPETITIVE WIN LEADS TO NEW BUSINESS LAUNCH
A
ccounting major Anthony Markey ’17 proved he was ready for the big leagues last fall when he entered URI’s Guppy Tank competition, a smaller, kinder Shark Tank, and knocked his pitch for a college textbook resale enterprise out of the park. Soon after, he launched his business, called
Libby, at URI and Johnson and Wales University. The company’s website, uselibby.com, bills itself
as the “fairest market place for college textbooks,” and facilitates online student-to-student textbook transactions and in-person book exchanges.
Hosted by URI’s College of Business Administration and the URI Entrepreneurship Club, the Guppy
Tank, said URI Accounting Professor Alejandro Hazera, “is an invaluable program for helping students
take their entrepreneurial ideas from the conceptual stage into the development and realization stages. The rigorous review of students’ presentations maximizes the possibility that their ideas will ultimately
be successful in competitive markets.” Students receive feedback from peers and a team of coaches from the College of Business Entrepreneurship Program, Rhode Island Small Business Development Center, and URI’s Start-Up Program/Accelerator/Resource Center (SPARC) program.
Markey, a Providence resident, found Guppy to be a game changer. “It’s very important to be able
to effectively break down an idea and communicate it to others so that they can understand,” he said.
“That clarity is so critical when it comes to pitching and business success!” After honing his skills at the Guppy Tank, Markey presented Libby at the Rhode Island Business Plan Elevator Pitch Contest
and came in third. Next, he was invited to the MassChallenge Bridge to Rhode Island Bootcamp, a non-profit start-up accelerator and competition, one of 12 finalists selected from 42 applications.
“Being selected as part of the MassChallenge RI Bootcamp is very exciting,” said Markey, who
came up with the idea for Libby after he returned from a semester abroad and needed some quick
cash. He attempted to sell his slightly used textbooks, received disappointingly low offers, and saw an opportunity. “Traditional options like bookstores and online retailers profit at the expense of students.” With Libby, he’s changing that equation. “Libby puts the power back into the hands of students.”
“It’s very important to be able to effectively break down an idea and communicate it to others so that they can understand. That clarity is so critical when it comes to pitching and business success!” ANTHONY MARKEY ’17
ANNUAL REPORT F Y 2017 y
7
“Dr. King said that the foundation of nonviolence is love. He’s talking about unconditional regard, acceptance, and care for all human life. Now that’s a big idea.” PAUL BUENO DE MESQUITA
8
y THE URI FOUNDATION
Peace, practiced TEACHING NON-VIOLENT STRATEGIES TO ACHIEVE SOCIAL CHANGE
I
n June, URI’s Center for Nonviolence and Peace Studies hosted the 18th Annual International
Nonviolence Summer Institute. Just days into it, U.S. House Majority Whip Steve Scalise and three others were shot on a baseball field in Virginia, underscoring the urgency for pursuing peace. Paul
Bueno de Mesquita, director of the Center, shared his views on the increase in violence across our nation and around the globe at an interview that occurred two days after the Las Vegas shooting.
Do you feel a sense of despair as you witness an era that is particularly divisive and frequently violent? In our work we’re always teaching and advocating nonviolence, but I have to say in instances like the Las Vegas shooting, it looks like violence is winning. It’s not the incidents themselves — as shocking and horrific as they are — it’s an acceptance of them that’s most concerning to me; our culture has been numbed. To me, this is a public health crisis.
Do you think protests and rallies are effective forms of activism? The whole protest and counter-
protesting thing — I don’t find it very productive. In movements you have to have goals and achievable objectives. Effective movements are not just against things — they’re actually working towards
something. All the great movements that were successful were either about changing a bad law, creating a new law, or removing a bad law. When we talk about institutional and social change, we’re trying to get to the root conditions to make those changes.
So how can people educate themselves to be better activists? Some of our coursework and training is a good place to start. Looking for workshops and courses. Reading about nonviolent social change is important. This takes study; it’s not just a simple thing. There’s this preconceived notion that to be nonviolent you just have to sit around and be stepped on and not do anything about it.
What we advocate and teach is very much an empowering, active force — but it’s a force that has
compassion and love for others. Dr. King said that the foundation of nonviolence is love. He’s talking about unconditional regard, acceptance, and care for all human life. Now that’s a big idea.
Supporting peaceful perspectives Efforts to develop compassion within individuals figures prominently in the work of URI’s Center for Nonviolence and Peace Studies. To promote that theme, the Center invited a group of Tibetan Buddhist monks to create a compassion mandala — an elaborate painting painstakingly made from millions of grains of colored sand — in the Memorial Union’s lounge. The five-day event, supported, in part, by private gifts, was witnessed by a steady stream of mesmerized students, staff, faculty, as well as the general public. On the final day, the extravagant artwork created by the monks was quite literally swept away. “The compassion mandala and the building and destroying of it is part of the principle of the impermanence of life,” explained Center Director Paul Bueno de Mesquita. “It’s a public opportunity to give a little bit of a lesson that every day we need to consider our impermanence. So, how will we live? We have a choice. We can live more happily. We can live more peacefully.” ANNUAL REPORT F Y 2017 y
9
Supporting future researchers When chemical engineering major Megan McSweeney ’18 heard new faculty member Daniel Roxbury describe his research last fall, she was hooked. Today, she is one of seven students who make up Roxbury’s NanoBio Engineering Lab team. “I’m only 20 — to be doing work that I feel is super important, I’m lucky to have that opportunity.” A New Haven County native, McSweeney is also a recipient of a Gertz Family Engineering Scholarship. “The first thing I did was learn more about the family. I found out that they’re major donors to URI’s new engineering facilities. They really care about the engineering program.” After graduation, McSweeney plans to pursue her Ph.D., thanks to Roxbury. “He’s the one that inspired me to go to grad school, continue the research, stay in academia. I’d like to follow in his footsteps.”
10
y THE URI FOUNDATION
Tiny tech, big breakthrough RESEARCH PARTNERSHIP AIMS TO IMPROVE HEALTH OUTCOMES
I
magine a hollow, miniscule cylinder — 100,000 times more slender than
a single strand of hair but stronger than steel — that could detect cancer
biomarkers in your body decades before symptoms appear. Or monitor the
progression of heart disease. Or detect the onset of Alzheimer’s. Early detection is crucial in these diseases, all of which benefit greatly from treatment at an early stage, yet it remains frustratingly elusive.
URI Chemical Engineering Assistant Professor Daniel Roxbury and
researchers from Memorial Sloan Kettering Cancer Center in New York and
Weill Cornell Graduate School of Medical Sciences are tackling the problem by using nanotechnology
— specifically, tiny cylinders called carbon nanotubes. The study is funded by the National Institutes of Health and the American Cancer Society.
Traditionally, tests to detect biomarkers or to monitor the progress of a pre-existing condition
require a visit to a clinic, perhaps to have blood drawn, and then waiting for test results. Roxbury’s nanotube sensors, implanted just under the surface of the skin, would eliminate both the visit and
the wait. The sensors, he explained, function by changing the color of the light they emit when in the
presence of disease markers. “What’s really interesting is that the sensors function in live cells,” said Roxbury. “This enables us to monitor the progression of a disease as well as its reversal when we add an appropriate drug.”
Roxbury envisions an at-home device that would continually monitor cancer biomarkers or
disease progression and alert a doctor when cellular changes indicate a problem. “We aim to create
a user-friendly platform where patients can monitor themselves at home and automatically alert a physician,” he said. “This is the technology we need. The next stage would be to construct some
kind of wearable device that incorporates this technology. This is the long-term goal. It’s certainly a monumental step.”
Researchers, including URI’s Daniel Roxbury, are using nanotechnology to detect life-threatening diseases.
ANNUAL REPORT F Y 2017 y
11
“My main goal when people listen to my music is to transport them to another place…” KATHERINE LOO ’19
12
y THE URI FOUNDATION
Strings attached SCHOLARSHIP INSPIRES MUSIC DOUBLE-MAJOR TO HIT THE RIGHT NOTE
M
usic has held an irresistible allure for Katherine Loo ’19 ever since she picked up her first viola at age ten. “Once I started playing, it never really occurred to me that I would go into anything other than music,” she said.
And it never occurred to Loo, a URI junior who’s pursuing dual degrees in orchestral performance
and music composition, that she would go into anything other than classical music — but then she
came to URI. “Before URI I was okay with jazz,” she says, “and then I came here and I heard the jazz combos at convocation, and I was like, ‘Oh, this is jazz! This is really cool!’”
It’s a good thing Loo found the beauty in jazz, because now she’s going to be playing it with the
URI Jazz Big Band, which, for the first time ever, is introducing viola, violin, and cello into its instrumental ranks. “Jazz is very different from classical,” Loo allowed, “but I’m getting the hang of it. When you’re playing in orchestra the downbeats are very precise, but with jazz it’s ‘a one, a two, a one, two, three, four’ — it’s like, ‘Ooh, this is a new experience!’”
As the recipient of two Foundation scholarships — an Enrico Garzilli Scholarship in Music and
a Geoffrey Gibbs and Sona Aronian Scholarship in Music Composition — as well as a Kingston
Chamber Music Festival scholarship, Loo said she’s inspired to push herself as hard as she can to achieve her dream of one day writing scores for films and videos.
“Katherine’s approach to writing music is uniquely intuitive,” said her URI composition teacher,
Kirsten Volness. “She’s not afraid to stretch beyond her stylistic tendencies, which often draw upon popular music, and take risks with new techniques or ideas.”
Loo described her work as ethereal and melodic, adding, “My main goal when people listen to my
music is to transport them to another place or bring them a sense of peace.”
Bring on the band For the past 40 years, the URI Jazz Big Band has fostered some of the University’s most talented music students, many of them scholarship recipients. The band has performed countless concerts on campus, throughout Rhode Island and New England, appeared at New York City’s Lincoln Center Spring Concert Series, and this past summer, for the fifth consecutive year, it performed at one of the world’s most prestigious jazz events, the Newport Jazz Festival. Band director Joe Parillo said the strength and visibility of the jazz program at URI, particularly the exposure gained from playing at one of the world’s legendary festivals, has attracted increasing numbers of students from around the nation. James Himmelmann, who earned his B.A. in music from URI in May and who is now pursuing an M.A. in jazz composition, has performed at the Festival three times. “For jazz,” he said simply, “it doesn’t get much better than playing at Newport.”
ANNUAL REPORT F Y 2017 y
13
Supporting student inspiration Though she lived in Woonsocket, Rhode Island, Emely Baez ’19 spent summers with relatives in the Dominican Republic so her mother could work longer hours here. Those journeys opened her eyes to the disparities in health care, inspiring her to make a difference. Now a nursing student at URI, Emely’s goal is to work with a global relief organization after she graduates in 2019, to help those impacted by disasters or emergencies. Her favorite thing about URI? Its size. “It’s small enough that you can build great relationships with your professors and staff, but big enough that you can meet new and different people every day,” she said. A URI Pathways to Nursing student and the recipient of several scholarships, Baez says, “I feel such gratitude for the scholarships I have received. They have changed my life. All of the amazing experiences I have had have helped me to become a leader, and donors have made it all possible. Through me, they are making a mark and any good I am able to do is a reflection on them.”
14
y THE URI FOUNDATION
Dedicated to education UNIQUE MENTORING MODEL PREPARES FUTURE NURSES
A
t the Miriam Hospital in Providence, registered nurses spend their shifts working intently with patients, doctors — and future nurses. Here on the third floor, RNs are paired one-on-one
with seniors from URI’s College of Nursing in an intensive clinical program called a Dedicated
Education Unit (DEU). The mentoring model, originally developed in Australia to address nursing
faculty shortages, has been adapted to fill a need for students to have meaningful clinical experiences
that will ease their transition into professional roles, said Katherine Paquette, URI assistant clinical professor of nursing. “It’s a model that has caught on because it is so successful in preparing students to practice.”
The Dedicated Education Unit could not be more aptly named: students, faculty, nurses, and the
hospital are clearly dedicated. Each RN works side-by-side with a student for more than 100 hours during that student’s final semester. Students report to duty on the nurses’ schedules — weekends,
nights, or 12-hour shifts — and help care for the nurses’ patients. In a traditional clinical setting, one
faculty member is typically paired with eight students, without a designated unit nurse. The DEU model allows students to learn the essential competencies they will need for successful practice.
Allison Rosener ’14 of Barrington has been a preceptor for the DEU program for two years
now. She participated in the program as a student, and was subsequently hired by the hospital. “I had an amazing experience, and I wanted to pay it back,” said Rosener, who’s currently pursuing
her doctorate of nursing practice at URI. “I really like putting nursing students in a real-life situation where you can learn critical thinking skills.” And the students really like it too: “The feedback has been tremendous,” said Paquette. “Students develop confidence in themselves, think critically, build time management skills. You see students really grow.”
Miriam Hospital has hired about two dozen students from the program since it launched in 2012.
Competition is strong for the 16 to 20 student assignments, and Paquette said the College hopes to expand the program. “We feel strongly that this is an experience we need to give all our students.”
URI nursing student Natalie Sidman ’17, left, worked one-on-one with Allison Rosener ’14, a registered nurse at the Miriam Hospital, as part of the mentoring program.
ANNUAL REPORT F Y 2017 y
15
“Paramaz’s philosophy was, ‘If you can’t be an advocate for the patient, why be a pharmacist?’ It is this spirit of helpfulness that we want this hall to embody.” EDWARD AVEDISIAN
16
y THE URI FOUNDATION
A legacy of generosity PARAMAZ AVEDISIAN ’54 HALL DEDICATED ON KINGSTON CAMPUS
F
ive years after opening its doors, the College of Pharmacy building is now the proud bearer of a new name: Paramaz Avedisian ’54 Hall. University
officials recently joined with members of the Avedisian family and the
campus community to officially dedicate the five-story, 144,000 square-foot building, opened in 2012, in honor of alumnus Paramaz Avedisian ’54, whose
lifetime represented a legacy of professionalism in pharmacy and philanthropy in the community.
The dedication comes after a transformative gift of $5 million to the College
of Pharmacy from the late Avedisian’s younger brother, Edward, a performing symphonic musician
and noted philanthropist. It is his older brother’s philanthropy, however, that he wants remembered
by URI pharmacy students for generations to come. “Paramaz’s philosophy was, ‘If you can’t be an
advocate for the patient, why be a pharmacist?’” his brother recalled. “It is this spirit of helpfulness
that we want this hall to embody.” That spirit was born out of tragedy: his father died while Paramaz was a student at URI, and with no money to pay for his studies, he felt he had no choice but to drop
out. His employer, Tom Simpson of Simpson’s Pharmacy in Pawtucket, stepped in and paid for the remainder of his tuition.
Avedisian would go on to help countless people during his 30-year career as owner of Wheaton
Pharmacy in Washington, D.C. In the spirit of Tom Simpson, he once paid for a cancer patient’s
medications so his son could continue college. His legacy of generosity continues with his brother’s gift to URI, which will help fund a variety of projects in the College of Pharmacy, including a new Paramaz Avedisian ’54 Endowed Chair in Medicinal Organic Chemistry. “Edward’s gift will have
far-reaching effects,” said URI President David Dooley. “We will be better positioned to improve
education and research at the College of Pharmacy for generations of students, all while keeping the memory of Paramaz — his scholarship and humanitarianism — at the forefront of our minds.”
(Inter)action hero Bingfang Yan, professor of biomedical and pharmaceutical sciences conducting research within the labs of Avedisian Hall, has earned a reputation for identifying critical adverse reactions among prescription medications. His most recent study, reported in the December 2016 issue of the Journal of Hepatology, revealed that the highly effective Hepatitis C drug Sofosbuvir can adversely interact with the HIV drug Tenofovir Disoproxil, suppressing an enzyme in the liver and kidneys, which then renders the medication ineffective and causes toxicity in those organs. This is not the first time Yan’s studies have revealed potentially dangerous drug interactions in standard treatments for conditions affecting millions of Americans. In 2012 he discovered that the weight-loss drug Orlistat irreversibly inhibits a key enzyme that might lead to severe toxicity in the liver and kidneys, and in 2006 he found that the anti-viral drug Tamiflu would be ineffective in patients also taking the anti-clotting drug Plavix. His findings resulted in new dosing regimens for patients who need both drugs. ANNUAL REPORT F Y 2017 y
17
Supporting conservation Kenelm Coons MMA ’78, a Harvard graduate, came to URI in pursuit of an advanced degree following a career in corporate marketing, promoting products like Vicks VapoRub, Dove Soap, and Cool Whip. His marketing work for Doxsee clam products, however, spurred a love for and a newfound career in marine affairs. After receiving his master’s in marine affairs from URI in 1978, Coons was named executive director of the Rhode Island Seafood Council and later helped launch and lead, as its executive director, the New England Fisheries Development Association in Boston. He held that regional post for two decades. Upon his retirement, Coons’s family established the Kenelm W. Coons Marine Affairs Scholarship, meant to aid individuals studying at URI who have made a mid-career shift to pursue work in the field that meant so much to him. Coons passed away in 2017, leaving behind a legacy of dedication to the field he loved. Generations of students will benefit from the scholarship bearing his name, as they work to follow in his esteemed footsteps.
18
y THE URI FOUNDATION
Survival of the fittest URI RESEARCHER LOOKS FOR SOLUTIONS TO GLOBAL CORAL BLEACHING
T
he gleaming white appearance of the coral belies the true state of its health. Coral bleaching, as its name implies, occurs with the loss of the healthy pigmentation, generally due to warmer water temperatures. These
warmer environments cause healthy algae — which provide the color — living
within the coral to be expelled. And, though corals can survive bleaching, they are under great stress and subject to increased mortality. The UNESCO World
Heritage Center recently reported that all but three of its twenty-nine designated
global reef sites have been damaged by an unprecedented three-year global coral bleaching event that began in 2015.
It’s a frightening prospect, and one that URI Assistant Professor of Biological Sciences Hollie Putnam
is hoping to help prevent. In her lab at URI, Putnam and her students are experimenting with “assisted
evolution” to see whether coral reefs can become more resilient and resistant to the effects of climate change on ocean chemistry. “I’m interested in how the environment is changing, how animals respond to those changes, and the potential for acclimatization to those conditions, particularly across generations
and in different life stages,” Putnam said. “I’m asking questions like, do offspring perform better because of their parents’ history in certain conditions, and if so, what are the mechanisms driving that?”
In one study of corals, Putnam exposed adults to increased temperature and acidification — both
are key products of climate change. She then exposed their offspring to the same conditions to see if they were better able to adapt because of their previous generation’s experience. “We found that there is potential for beneficial acclimatization because of parental history,” Putnam said. “There is a more positive metabolic response and ecological response, greater survivorship and growth if their parents
have been preconditioned to future scenarios.” Right now, the fate of coral reefs depends on their ability to adapt quickly to their changing environment. Putnam recognizes the urgency in her research: as
questions about adaptation get answered, they will inform global conservation efforts and policymaking.
“I’m interested in how the environment is changing, how animals respond to those changes, and the potential for acclimatization to those conditions, particularly across generations and in different life stages.” HOLLIE PUTNAM
ANNUAL REPORT F Y 2017 y
19
Ryan Institute for Neuroscience attracts top faculty researchers Two top-notch scientists, with decades-long track records of innovation, were recently welcomed to the faculty at the George & Anne Ryan Institute for Neuroscience at URI. William Van Nostrand and John Robinson, individually and as a team, have made significant discoveries that advance the understanding of Alzheimer’s disease and other conditions caused by damage to and destruction of brain cells. Their work will further boost URI’s research muscle in neurodegenerative disease.
21
URI’S RANKING IN THE PEACE CORPS’ 2017 TOP VOLUNTEER-PRODUCING MEDIUM-SIZE COLLEGES/UNIVERSITIES
55,122
UNITS OF BLOOD DONATED BY THE URI COMMUNITY IN ANNUAL BLOOD DRIVES SINCE 1979
1
NUMBER OF DOGS IN THE URI POLICE DEPARTMENT (OFFICER FIGARO, A BLACK LAB)
Foundation set for $150.5 million engineering facilities Construction of URI’s new College of Engineering facilities is on schedule for a September 2019 opening. With the foundation set and steelwork begun, the 182,000 square-foot project — funded primarily by bond issues approved overwhelmingly by R.I. voters in 2014 and 2016 — will foster interdisciplinary collaboration to embrace technology-driven changes in engineering. The project has strong support from state business and labor leaders, and has benefited from philanthropic contributions by alumni, parents, friends, and corporations.
20
y THE URI FOUNDATION
Inner Space Center live-streams dive on Pearl Harbor mini-subs On the 75th anniversary of the attack on Pearl Harbor, the NOAA ship Okeanos Explorer, using a remotely operated vehicle, conducted a dive on two historic Japanese mini-submarines that sank during the bombing. The Inner Space Center team at URI’s Graduate School of Oceanography live-streamed the historic dive, making it possible for the public to get its first-ever view of a real-time exploration of these submarines.
22,656
NUMBER OF UNDERGRAD APPLICATIONS FOR ADMITTANCE IN FALL OF 2017, A UNIVERSITY RECORD
3.54
THE AVERAGE GPA OF INCOMING FRESHMEN, PART OF THE STRONGEST FRESHMAN CLASS IN URI HISTORY
828
NUMBER OF URI STUDENTS PARTICIPATING IN A GLOBAL EXPERIENCE LAST YEAR, IN 49 COUNTRIES
Rhody men’s basketball advances to NCAA Tournament Coach Dan Hurley’s Rhody Rams took URI’s program to national prominence last year by winning the Atlantic 10 Tournament Championship for the first time in 18 years, defeating St. Bonaventure, Davidson, and VCU along the way. The A-10 win secured the University’s first invite to the NCAA Tournament since back-to-back appearances in ’98 and ’99. Rhody defeated the sixth-seeded Creighton Bluejays to win the first round of the NCAA Tournament before falling to eventual Final Four and third-ranked team, the Oregon Ducks.
ANNUAL REPORT F Y 2017 y
21
URI first university in state to offer mental health first aid training It’s an eight-hour program that could help save a life. And now, Mental Health First Aid training is available at URI. More than 300 people — including staff, students, and faculty — have been trained to identify, understand, and respond to signs of mental illness and substance-use disorders. The URI course, often called CPR for the mind, is tailored for higher education and includes statistics, risk factors, cultural awareness, and scenarios pertinent to a college campus.
1,366
NUMBER OF STUDENTS RECEIVING URI FOUNDATION SCHOLARSHIPS IN FISCAL YEAR 2017
27,469
NUMBER OF RHODY PHONATHON CONVERSATIONS WITH URI ALUMNI AND PARENTS
12,200
TOTAL NUMBER OF DONORS WHO CONTRIBUTED TO THE UNIVERSITY OF RHODE ISLAND IN FISCAL YEAR 2017
URI Lyme-fighting program first in the nation In a groundbreaking initiative, local pharmacies are offering eligible consumers antibiotic treatment — no doctor visit necessary — to reduce the chance of developing Lyme disease. The program, conceived by Anita Jacobson ’98, URI clinical associate professor of pharmacy, could have stunning results: the New England Journal of Medicine reported that such prophylactic treatment can reduce the risk of developing the disease by 87 percent.
22
y THE URI FOUNDATION
URI is project lead on landmark coastal research grant The National Science Foundation awarded URI a $19 million grant to establish a statewide research consortium to assess the impacts of climate variability on coastal ecosystems, and create innovative technologies for detecting, predicting, and planning for changes in coastal ecology. The grant, said URI President David M. Dooley, “will enable researchers from throughout the state to address some of the most pressing issues of our time while also providing economic development benefits to our innovation economy.”
2,396
NUMBER OF ONLINE GIFT TRANSACTIONS PROCESSED BY THE URI FOUNDATION IN FISCAL YEAR 2017
$128.5M VALUE OF THE UNIVERSITY OF RHODE ISLAND ENDOWMENT AS OF JUNE 30, 2017
18,072
NUMBER OF STUDENTS ENROLLED IN THE UNIVERSITY OF RHODE ISLAND IN FISCAL YEAR 2017
URI and UCONN win Navy grant URI and the University of Connecticut are teaming up with the U.S. Navy, thanks to a joint $1.3 million grant from the Office of Naval Research. The three-year grant will provide new training and education opportunities for engineering undergraduates considering careers in the Navy and undersea engineering, and create a rich science and technology workforce pipeline to the naval community — vital to the economic livelihood of the region.
ANNUAL REPORT F Y 2017 y
23
Annual Report on Giving PRESIDENT’S CIRCLE DONORS
W
e sincerely acknowledge our honor-roll donors — members of the President’s Circle who made generous gifts of $10,000 or more to the University of Rhode Island in the fiscal year ending June 30, 2017. We are most grateful for your generosity, which is making a significant impact across the URI community. For a complete list of all donors who supported URI in FY ’17, visit urifoundation.org/donorresources.
President’s Circle Platinum: $100,000 and above
President’s Circle Gold: $50,000 to $99,999
Henry H. Anderson Jr. Edward Avedisian Richard E. Beaupre ’62 Estate of Mary K. Bond ’43 Margo L. Cook ’86 Gerald L. Deroy ’71 William H. Eigen III ’90 Jonathan Fain Rosalie Fain* Barry M. Gertz ’76 Sandra J. Gertz ’86 Richard J. Harrington ’73 Virginia S. Kenney ’49 Estate of Robert P. McKenna Estate of Eleanor G. Morris ’38 Cathy H. Ryan Thomas M. Ryan ’75 Francis J. Schilling Helen I. Schilling ’54 Walter E. Schmid ’50
Larry Aker ’64 Renate Aker Gussie W. Baxt Eleanor H. Dain ’86 Joel A. Dain Steven E. Elterich ’72 Victor J. Farmer ’64 Elizabeth C. Fascitelli Michael D. Fascitelli ’78 Estate of David L. Hall ’62 Alan G. Hassenfeld Estate of Joanne V. Hologgitas ’82 R. Carolyn Hunter ’56 Kenneth J. Hylander ’80 Virginia F. Hylander ’78 Stephen V. Letcher Domenic J. Mainelli ’48 Estate of Ronald D. Nass ’71 Claire L. Perlman ’73
24
y THE URI FOUNDATION
Marc S. Perlman ’69 Carolyn A. Rafaelian ’89 Cynthia D. Sculco ’65 Thomas P. Sculco Stefan Soloviev ’97 Joan H. Virgadamo ’66 Philip P. Virgadamo ’64 President’s Circle Silver: $25,000 to $49,999
Andrew H. Aitken ’67 Robert J. Alvine ’88 Christiane M. Amanpour ’83 Lauren Baker-Hart ’81 Geraldine M. Barber ’70 Gregory P. Barber Dianne K. Card ’69 Wesley R. Card ’70 Donald L. Champagne ’66 Mabel Champagne Shannon E. Chandley ’83
Mark P. Charron ’77 Doreen Clappin James P. Clappin ’80 Laura H. Cunningham ’77 Stephen M. Cunningham ’76 Cynthia M. Deysher ’78 David A. Duffy H. James Field Jr. Janet Field Jack P. Flynn ’83 Joseph R. Graf ’88 Linda Graf ’88 Jay C. Hart ’82 Jonathan C. Herman ’99 Brian K. Hewitt ’91 Stephen Jonas ’64 Heidi Kirk Duffy Michael F. Kohl Rajan Krish ’90 Amar K. Lahiri ’73 Joseph F. Matthews ’80 Linda B. Matthews ’80
Jane A. Mclamarrah ’77 John J. Murray III ’70 Joan Patton Joseph F. Patton ’65 Donna R. Ross ’02 Mark A. Ross ’64 James P. Rubin Thomas J. Silvia ’83 Jay R. Simon ’68 Alan R. Spachman ’69 Florence M. Spachman Peter L. Tancredi ’68 Susan L. Tancredi Pamela M. Thye Joseph J. Triarsi ’91 Krista M. Triarsi ’90 Charles H. Wharton ’67 Joy H. Wharton ’74 Claire Wilcox Gregory Wilcox Bruce A. Wolpert ’75 Marlene F. Wolpert
*DECEASED
President’s Circle Bronze: $10,000 to $24,999
Karen Adams Barbara Allinson Wayne C. Allinson ’47 Jack M. Anderson Jr. ’61 Michael K. Andreozzi ’88 Lynn Baker-Dooley Leo A. Bannon ’82 Christine C. Bassett Banice C. Bazar ’51 Beverly Bazar Karen E. Blakeley ’83 Robert B. Blakeley ’82 Bradford R. Boss ’55 Steven A. Bouley ’80 Kenneth A. Bradley ’81 David J. Buckanavage ’80 Jeffrey R. Cammans ’12 Scott A. Campbell ’77 Frank N. Caruso ’67 Thomas D. Cerio III ’76 Karen S. Cofoni Paul M. Cofoni ’70 Robert L. Considine ’60 Douglas E. Cote ’82 Jennifer L. Cote William J. Cummings ’71 Steve N. DeJong Edward B. Deutsch ’68 Nancy C. Deutsch Christopher M. DiMaio ’62 David M. Dooley
*DECEASED
Thomas J. Drury ’74 Alfredo R. Esparza Diana R. Esparza Thomas Y. Exley William J. Falk Jennifer A. Francis Peter Francis Linda A. Gilheeney Jillian L. Giornelli Raymond A. Giornelli ’56 Edward Golden Merle Goldstein Stanley Goldstein Shirley T. Gulvin ’57 Janet S. Harford Paul J. Hastings ’84 Amy R. Haughey ’85 Kevin Haughey Mary D. Higgins ’67 Robert J. Higgins ’67* James A. Hilton Sr. ’83 Marianne Holmes ’75 Andrew Kaldor Kenneth E. Knox ’70 Harold A. Koussa ’69 Robert E. Leeks ’92 Jann E. Leeming ’77 Daniel A. Levinson Arthur D. Little A. Robert Lusi ’61 Carol C. Lusi ’61 Ann L. Maguire ’91 E. Patrick Maguire ’92 Hugo Mainelli Jr.
Hugo R. Mainelli III Mark H. Mainelli ’82 James E. Marble Jr. ’55 Sara J. Marble George T. Marshall ’76 Edmund M. Mauro Jr. Michael F. McNally ’81 Michele G. McNally ’77 Lori J. Merolla ’83 Michael Merolla Michael E. Mueller ’98 Morgan J. Mueller ’97 Frederick J. Newton III ’78 Sue C. Newton John M. Nystrom ’67 Patricia Opperman Mark T. Page ’92 Nancy A. Potter John V. Priore ’87 Shiela I. Priore Evandro R. Radoccia Jr. Marie D. Radoccia ’58 H. Douglas Randall III ’72 Lorraine W. Randall ’78 Leonard A. Reinhart ’77 Linda Rendine Richard D. Rendine ’58 Jamie Rinaldi John C. Rinaldi ’91 Sandra B. Rosen ’75 William M. Rosen Armand E. Sabitoni ’73 Jana B. Sample Victor R. Santoro
Judith S. Saulnier ’61 Philip J. Saulnier ’62 Elizabeth C. Sepe ’74 William E. Sepe ’74 Richard J. Shapiro Henry D. Sharpe III Julia R. Sharpe Susan A. Silva ’02 Franklin W. Simon ’50 Rick S. Strickhart ’70 Beatriz D. Struck John S. Struck ’74 Diane Sullivan Stephen J. Sullivan Sr. Haig C. Tapalian ’61
F. Robert Tuhy ’94 Thomas A. Turano ’71 Richard G. Vangermeersch ’64 Paul Verbinnen Alfred J. Verrecchia ’67 Geraldine Verrecchia Grace M. Vincent Robert K. Vincent ’75 John H. Visneuski Jr. ’70 Bret D. Williams ’93 Rhonda C. Wilson W. Redwood Wright ’65* Jing J. Xiao David G. Zartarian ’67 Bruce G. Zimmerman ‘51
ANNUAL REPORT F Y 2017 y
25
Board of Directors UNIVERSITY OF RHODE ISLAND FOUNDATION EXECUTIVE COMMITTEE
BOARD MEMBERS
Chairman of the Board: Thomas M. Ryan ’75
Rep. Marvin L. Abney ’00 Lorne A. Adrain ’76 Richard E. Beaupre ’62 Dea T. Belazi ’01 Michael F. Brandmeier David J. Buckanavage ’80 Thomas D. Cerio, III ’76 Edward B. Deutsch ’68 Diane Chace Fannon ’74 Phillip Kydd ’81 Margaret S. Leinen ’80 Carol J. Makovich ’75 Frederick J. Newton, III ’78 Joseph E. O’Neil ’75 Rusty Rueff Cynthia Davis Sculco ’65 Diane Sullivan Robert K. Vincent ’75 Raymond M. Williams ’87
Vice Chairs: Paul M. Cofoni ’70 Margo L. Cook ’86 Alfred J. Verrecchia ’67 Treasurer & Finance Committee Chair: Mark P. Charron ’77 Secretary: Wendy P. Field ’74 Investment Committee Chair: Deborah A. Imondi ’83, MBA ’86 Governance Committee Chair: Laureen L. White ’81 Development Committee Chair: Michael D. Fascitelli ’78 Audit Committee Chair: Charles H. Wharton ’67 At-Large Member: Geraldine M. Barber ’70
EX-OFFICIO MEMBERS William Foulkes
Chair, Council on Post Secondary Education, Rhode Island Board of Education
David M. Dooley
President, University of Rhode Island
Elizabeth Breul O’Rourke
President, University of Rhode Island Foundation
Daniel G. Lowney ’75
President, URI Alumni Association Executive Board
26
y THE URI FOUNDATION
Trustees UNIVERSITY OF RHODE ISLAND FOUNDATION Lisa A. Ahart ’03 Linda A. Anderson Banice Carl Bazar ’51 George J. Bedard ’78 Bradford Reed Boss ’55 Edward W. Bouclin, Jr. John J. Brough, Jr. ’78 Gustin L. Buonaiuto ’53 Jeffrey R. Cammans Scott A. Campbell ’77 Anna Cano-Morales ’91 Wesley R. Card ’70 Mary F. Carmody ’82 Frank Nicholas Caruso ’67 Thomas M. Cataldo ’71 Shannon E. Chandley ’83 Edmund D. Cianciarulo, Jr. ’64 Joseph M. Confessore ’96 Robert Lee Considine ’60 William Croasdale, III ’58 Laura H. Cunningham ’77 Stephen M. Cunningham ’76 Marie Campopiano DiBiasio ’61 Dennis J. Duffy ’80 Kathleen Yanity Duffy ’80
Mary S. Eddy ’87 Karina Montilla Edmonds ’92 William H. Eigen, III ’90 Esther Emard ’82 Alan Shawn Feinstein Joseph G. Formicola, Jr. ’69 James C. Forte ’76 Barry M. Gertz ’76 Mary A. Gray ’52 William R. Guglietta ’82 Audrey Barker Hallberg ’61 Richard J. Harrington ’73 Alan G. Hassenfeld Manoog T. Heditsian ’47 Mary Danielian Higgins ’67 Ann Stephenson Hitchen ’88 James E. Hitchen, Jr. ’65 Andrea M. Hopkins ’68 James A. Hopkins ’62 Saul Kaplan ’79 Caroline Tennant Kaull ’66 Donald N. Kaull ’67 Kenneth N. Kermes Heidi Kirk Duffy
Kenneth E. Knox ’70 Peter F. Kohlsaat ’57 David B. Lea, Jr. ’59 Matthew J. Leonard ’88 James William Leslie ’52 Raymond G. Lundgren, Jr. ’54 Mary P. Lyons ’67 Molly D. Magee ’91 Leo Mainelli ’58 David Martirano ’91 Raymond M. Mathieu ’69 Sandy S. McCreight ’73 Michael F. McNally ’81 Peter J. Miniati, III ’85 Francesco Peter Morsilli ’53 Blanche Richard Murray ’41 Henry J. Nardone, Sr. ’43 Nathaniel J. Nazareth, Sr. ’55 Michael A. Nula ’96 Jack M. Parente ’85 Louise R. Pearson Constantinos Perdikakis ’75 Robert J. Petisi ’74 Yahaira Placencia ’01
H. Douglas Randall, III ’72 Perry A. Raso ’06 H. Milton Read, Jr. ’54 Edgar Allan Reed ’56 Richard D. Rendine ’58 Eric D. Roiter ’70 Mark A. Ross ’64 Robert S. Russell ’75 Vincent Anthony Sarni ’49 Col. (Ret.) Philip J. Saulnier ’62 Thomas J. Silvia ’83 Charles S. Soloveitzik ’72 Ann M. Spruill ’76 Jane M. Stich ’62 John S. Struck ’74 Donald P. Sullivan ’71 Norman G. Tashash ’77 Louise H. Thorson ’85 Alan H. Wasserman ’75 Robert A. Weygand ’71 Greg S. Whitehead ’78 Marybeth Q. Williamson ’83 Christopher J. Wolfe ’91 Alan G. Zartarian ’69
ANNUAL REPORT F Y 2017 y
27
The URI Endowment
ASSET ALLOCATION AS OF JUNE 30, 2017
INVESTING IN OUR LONG-TERM SUCCESS
T
he University’s endowment provides a dependable and perpetual source of funding to
support URI students, faculty, programs, and facilities. Together, as a pool, the 1,100plus individual endowed funds are invested as part of a long-term investment strategy
designed to achieve a rate of return which will generate a current source of income to support
0.9% PRIVATE INVESTMENTS
6.7% REAL ASSETS
10.4%
26.0%
EMERGING MARKETS
US EQUITY
11.8%
our donors’ causes, and preserve and enhance the principal value of the endowment.
The URI Foundation Board of Directors sets a spending rate each year, which is dependent
on a number of factors including principal growth and market performance. Payouts calculated for the fiscal year 2017 were based on a rate of 4.5 percent of the three-year average market
value of the portfolio. This rate included the amount distributed to the University (3.3 percent) and the Foundation’s management fee (1.2 percent). This spending rate calculation resulted in a distribution of $3.7 million for the fiscal year 2017, which was the same level of funding from the previous year.
MARKETABLE ALTERNATIVES
18.4%
12.3%
DEVELOPED EX-US EQUITY
CASH AND EQUIVALENTS
13.5% FIXED INCOME
As of June 30, 2017, the University’s endowment portfolio had a market value of $128.5
million, a nearly $21 million increase over the previous year. The Foundation Board of Directors,
in concert with its Investment Committee, including committee chair Deborah Imondi ’83, M.B.A.
’86, is working diligently to enhance the management of the fund to maximize returns while maintaining appropriate risk and liquidity parameters. The market value and payout impact for the endowment, for each of the past five years, are represented on the facing page.
As is customary with many universities across the country, a one-time fee is deducted from all gifts to provide essential support to the University’s overall development activities. That fee is currently 5 percent. Donors are credited the full amount of their gift. 28
y THE URI FOUNDATION
Please note that a full listing of all endowment funds can be accessed on our website at urifoundation.org/endowmentfunds.
PORTFOLIO VALUE
ANNUAL ENDOWMENT PAYOUT IMPACT
As of June 30, 2017, the University of Rhode Island’s endowment portfolio had a market value of $128.5 million. The market value for each of the past five years is represented below.
The following graph represents the total amount of endowment-generated funds distributed to the University each year, based on the Foundation’s spending policy, for the five-year period shown.
$130 $125 $100
IN MILLIONS
119 103
118
128 108
$4.0
IN MILLIONS
3.4
$3.0
$75
$2.0
$50
3.7
3.7
2016
2017
2.9
2.7
$1.0
$25 $0 2013
2014
2015
2016
2017
$0
2013
2014
2015
ANNUALIZED RETURN ON INVESTMENT
TOTAL ASSETS
The annualized return on URI’s endowment portfolio, as of June 30, 2017, was 13.6 percent. The returns for the past five years, using the June 30 date for comparison, are as shown below. All returns are net of fees.
Total assets represented on this chart includes the value of cash, investments (including the endowment portfolio), furniture, equipment, receivables, and other items of value.
INCREASE/DECREASE AS OF JUNE 30
2013
11.3%
2014
14.9%
-0.3%
2015
-5.0%
2016
2017
$200
IN MILLIONS
$150 $100
164
172
165
2014
2015
2016
179
136
A message from Deborah Imondi ’83, MBA ’86 INVESTMENT COMMITTEE CHAIR I continue to feel humbled by the opportunity to serve my alma mater as Chair of the Foundation Board’s Investment Committee. In this role, and working alongside other volunteer Committee members who are lending their professional expertise to the advancement of this remarkable institution, I have developed an even greater appreciation of the value of our University to our state and far beyond. Our Committee’s focus on enhancing the investment performance of URI’s endowment has, perhaps, never felt more important or more impactful. Together we are committed to the careful and prudent management of our assets, and to enhancing the impact our endowment has across the University community.
$50
13.6%
$0 2013
2017
ANNUAL REPORT F Y 2017 y
29
Fundraising Highlights
D
uring the fiscal year 2017, $21.4 million in private support was raised, including pledges, gifts, and new planned gift commitments, representing an increase of more than 30 percent over fiscal
FISCAL YEAR 2017 NEW COMMITMENTS:
$21,380,714
year 2016. Generous gifts from alumni, parents, organizations, and friends in FY 2017 contributed
48.2%
1.5%
Annual Fund, the President’s 21st Century Fund for Excellence, intramural sports, Greek life, and more.
OUTRIGHT GIFTS
MATCHING GIFTS
to making an impact across all of URI’s colleges and major program areas, including athletics, the
Students, faculty, programs, and facilities across our campuses benefited from that charitable
support, which enhances the overall academic experience here at URI. In all, more than 12,200 alumni and friends contributed to URI during the fiscal year. Approximately 32.5 percent of all gifts received
18.0% NEW PLANNED GIFTS
were from alumni, while parents, corporations, foundations, and others also generously supported the University of Rhode Island.
First-time donors to URI totaled 3,027 — a 7 percent increase over last year. New donors are an
important segment that will continue to be a priority as the Foundation works to increase participation
from all donors, with a specific focus on alumni. Annual Fund gifts, another important marker of engagement and potential growth, increased by 14 percent in the last fiscal year, to $1.827 million. And,
32.3% NEW PLEDGES
$324,263 in matching gifts to URI were received last year, an increase of more than 25 percent over the previous year.
AMOUNT RECEIVED, BY CATEGORY
GENERAL GIFT ALLOCATION
L ALUMNI. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32.5%
L ENDOWED GIFTS. . . . . . . . . . . . . . . . . . . . . 43.6%
L FRIENDS . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26.5%
L OUTRIGHT GIFTS. . . . . . . . . . . . . . . . . . . . . 30.2%
L FOUNDATIONS. . . . . . . . . . . . . . . . . . . . . . . 18.9%
L ATHLETICS . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.3%
L CORPORATIONS. . . . . . . . . . . . . . . . . . . . . . 14.5%
L ANNUAL FUND . . . . . . . . . . . . . . . . . . . . . . . . 8.5%
L OTHER. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.9%
L CAPITAL IMPROVEMENTS. . . . . . . . . . . . . . . 8.4%
L PARENTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.7% 30
y THE URI FOUNDATION
FINANCIAL REPORT z UNIVERSITY OF RHODE ISLAND FOUNDATION
For the fiscal year ended June 30, 2017, with comparative totals from 2016 STATEMENT OF FINANCIAL POSITION
CONSOLIDATED STATEMENTS OF ACTIVITIES Revenues, gains and other support Contributions Net total investment returns Contractual payments from URI Other income
2017 $18,684,162 14,634,460 3,614,217 535,981
2016 $13,767,592 (5,781,470) 3,410,924 791,959
Total revenues, gains and other support
$37,468,820
$12,189,005
Expenses University Support Academic support Athletics and club sports Buildings and equipment Library Community outreach Research support Scholarships, fellowships, loans and awards Other programs and event support Alumni Association
2017 2016 $5,294,458 2,323,494 2,983,797 95,791 934,220 657,526 2,418,989 900,963 561,575
$3,763,834 2,021,198 3,274,211 75,334 1,303,909 559,208 2,160,958 500,067 545,218
$16,170,813
$14,203,937
Foundation Support Administrative expenses Development expenses Transfer to URI Research Foundation
$1,262,335 5,613,935 1,596,770
$1,460,718 4,680,504 —
Total Foundation support
$8,473,040
$6,141,222
$24,643,853
$20,345,159
$12,824,967 162,473,782
$(8,156,154) 170,629,936
Total University support
Total expenses Changes in net assets Net assets, beginning of year Net assets, end of year
Assets 2017 Cash and cash equivalents $14,489,190 Accounts receivable 272,589 Prepaid expenses 110,821 Pledges receivable, net 17,198,232 Notes receivable 34,651 Investments, at market value 144,676,606 Building, equipment, furniture and fixtures, net 1,914,169 Charitable remainder unitrusts 344,874 Total assets Liabilities and net assets
2016 11,330,317 189,214 111,647 19,955,614 40,963 131,585,355 1,859,121 369,753
$179,041,132 $165,441,984 2017
2016
$839,462 597,139 709,012 1,596,770
$807,084 1,491,315 669,803 —
Total liabilities
$3,742,383
$2,968,202
Net assets Unrestricted Temporarily restricted Permanently restricted
$6,077,457 73,828,056 95,393,236
$7,291,962 67,918,279 87,263,541
Liabilities Accounts payable and accrued expenses Other liability Gift annuity payable Due to URI Research Foundation
Total net assets
$175,298,749 $162,473,782
Total liabilities and net assets
$179,041,132 $165,441,984
$175,298,749 $162,473,782 ANNUAL REPORT F Y 2017 y
31
Ways to give to URI MAKE A DIFFERENCE TO THE UNIVERSITY OF RHODE ISLAND
A
s your generosity benefits others, it can benefit you as well. Depending upon your
individual situation, you may receive a charitable income tax deduction and eliminate or reduce capital gains taxes by making a gift to the University of Rhode Island.
In addition to outright gifts of cash, securities, or other property, the gift pledge option
allows you to make a gift over a period of time (generally up to five years). Endowed gifts,
which can be funded outright by a pledge or through a planned gift, enable you to make an impact over generations, with only a portion of the earnings on your gift spent each year to fund the purpose of your choice.
Matching gifts are a simple way to double or even triple your gift impact, and memorial
gifts are a great way to honor a professor or loved one. Planned gifts, including bequests,
could help maximize your giving potential. Certain planned gift vehicles could also provide you with a secure lifetime income.
We invite you to consider becoming a member of the University’s legacy society, the
1892 Society, by making a provision for URI in your estate plans. Whether made through a bequest, retirement or life insurance assets, or gift annuity or charitable remainder trusts,
your planned gift makes you eligible to join a group of very special donors who have committed to supporting URI in this way.
For assistance, please contact the University of Rhode Island Foundation at 401.874.7900 or email foundation@uri.edu.
32
y THE URI FOUNDATION
Our mission: The URI Foundation exists to inspire and steward philanthropic support benefiting the University of Rhode Island. We are grateful to the thousands of individuals and organizations who help support a community of excellence, diversity, and innovation.
ANNUAL REPORT F Y 2017 y
33
NONPROFIT ORG. US POSTAGE
PAID PROVIDENCE, RI
79 UPPER COLLEGE ROAD KINGSTON, RI 02881-2023
PERMIT NO. 3091
urifoundation.org foundation@uri.edu 401.874.7900 | 877.874.4555 HOW TO GIVE: All gifts to the University of Rhode Island should be made payable and mailed to the URI Foundation, P.O. Box 1700, Kingston, RI 02881. You may also make a secure online gift at urifoundation.org/giveonline. Elizabeth Breul O’Rourke, President
PUBLISHED BY THE URI FOUNDATION Austen Farrell, Chief Marketing Officer | Tracey A. Manni, Managing Editor | Amy Paulsen, Contributing Editor Contributing Photographers: Emely Baez, Ayla Fox for the Narragansett Bay Estuary Program, Joe Giblin, Mitchell Leff, Nora Lewis, Hollie Putnam, Michael Salerno 34
y THE URI FOUNDATION