The President’s Report on Philanthropy and Endowments
2009–2010
Table of Contents
A Message from the President
2
A Message from the Campaign Chair
4
Ensuring Student Opportunity
6
Enhancing Honors Education
8
Enriching the Student Experience
10
Building Faculty Strength and Capacity
12
Fostering Discovery and Creativity
14
Sustaining a Tradition of Quality
16
Concepts in Philanthropy
18
Awards and Honors 22 Endowment Overview 24 Investment Management Update
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University Budget Summaries
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Campaign Executive Committee
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A Message from the President
As Penn State’s President, one of my greatest pleasures is talking with our students about what they hope to do with the degrees they’re working so hard to earn. Whether they aspire to be
physicians or teachers, entrepreneurs or artists, they have set big goals for themselves, and thanks to the education that they receive here, they will likely achieve them. Inspired by the ability and ambition of all our graduates, the University has set a big goal for itself, too: raising $2 billion in private support through For the Future: The Campaign for Penn State Students. Thanks to the extraordinary generosity of our alumni and friends, we have made vital progress toward that goal in 2009–2010, breaking old records and setting new standards for philanthropy at Penn State. At our official campaign kick-off in April, we were able to announce that we were more than halfway toward our $2 billion goal, and photos from that landmark event are featured throughout this publication. We have passed other milestones, too. For the first time, the University received more than $200 million in cash gifts from alumni and friends in a single fiscal year. We also had strong results in commitments, raising more than $274 million, the third highest total in our history. These gifts came from a record 185,183 donors—alumni and friends
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who have been inspired by the campaign’s vision of Penn State as the nation’s most student-centered research university. As of June 30, 2010, gifts and pledges to For the Future totaled $1.03 billion. These results would be impressive at any time, but we are especially grateful for the loyalty of Penn State’s supporters during the continuing economic downturn. Ensuring student access and opportunity remains the top priority of For the Future, and the $203 million received to date in new scholarship support is helping to keep a Penn State education affordable for thousands of families hit hard by the financial crisis. In this report, you’ll find more details about our fundraising success in the last year as well as information about how Penn State has protected and managed the resources that our donors have entrusted to us. Thanks to philanthropy, the University and our students are thriving even in these difficult times, and we must work hard to maintain the campaign’s momentum as we build financial strength for the long term. For 155 years, Penn State has been shaped by the aspirations of students, citizens, and communities—and by the generosity of alumni and friends who have chosen to support our institution. Thank you for helping us to aim higher, for the University and For the Future. Sincerely,
Graham B. Spanier, President The Pennsylvania State University
The President’s Report on Philanthropy and Endowments | 2009–10
“For 155 years, Penn State has been shaped by the aspirations of students, citizens, and communities—and by the generosity of alumni and friends
who have chosen to support our institution.”
A M es sa ge from t he C a m pa i gn C ha i r
The big picture, the long view, the trees and the forest: Alumni and friends who
support the University share a vision that encompasses not only what our institution is today, but what our students—and Penn State—can be in the future. On the cover of this edition of the President’s Report on Philanthropy and Endowments, we’ve featured a recent aerial photograph that may give you a fresh perspective on Old Main, and in the following pages, we’ve featured stories of donors whose unique viewpoints have led them to make extraordinary gifts to Penn State. Whether they’re looking through the lens of a family member’s college experience or a department’s illustrious past, whether they perceive the potential in an innovative educational program or a bold new outreach effort, our supporters are seeing the future of the University, and they’re seeing how they can make that future happen. Endowed gifts like those described in these stories embody a special kind of vision, one with no horizon, no limit to Penn State’s role as a leader, now and in perpetuity. As we work toward achieving the official $2 billion goal of For the Future: The Campaign for Penn State Students, we are asking all of the University’s alumni and friends to see a role for themselves in shaping our institution through philanthropy. 2009–2010 was one of the most exciting and successful years in the history of Penn State fundraising, and I am honored to have led the team of dedicated volunteers who achieved the incredible
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results detailed in this report. All of us know, though, that the hardest work is still ahead. We must communicate the importance of philanthropy to an even broader audience if we are to reach the goals of For the Future, and I hope that you will join us in that effort. Just as the donors highlighted here have told their stories of giving, I hope that you’ll reach out to other Penn Staters and friends and share your perspective on what it means to support the University. Philanthropy has changed the way that Penn State looks at itself, as well as how the world looks at us, and it’s changed the way that our students look at their own potential to succeed. Giving to the University has changed the way that I look at myself, too, as part of a Penn State community that stretches across the generations and around the world. Thank you for your own support of Penn State and your own vision for our future. Sincerely,
Peter G. Tombros, Chair For the Future: The Campaign for Penn State Students
The articles in this report not only tell the stories behind important gifts to the University— they also highlight ideas and approaches that have enabled many donors to fulfill their philanthropic goals. To learn more about the concepts appearing in bold throughout the text, please see the Concepts in Philanthropy section, which begins on page 18.
The President’s Report on Philanthropy and Endowments
2009–10
“Philanthropy
has changed the way that Penn State looks at itself, as well as how the world looks at us...�
E nsur ing St udent O ppo rt u ni ty
Support from a State College couple turns the financial situation of students from bad to verse.
Gratitude is a great muse, says Hannah Morris.
Every year, the Public Relations major from Punxsutawney writes a thank-you letter to express her appreciation for the John E. and Judith F. Baillis Scholarship, but last fall, she was inspired to pen a two-page poem:
… To receive your scholarship is quite an honor Without your support through college, I’d be a goner… …We all appreciate the financial assist Your kindness has enabled me to stay on the dean’s list… …Finding money for college is normally stressing That’s why your scholarship is such a blessing… “Reading Hannah’s poem was a terrific reminder of why we created the scholarship,” says John Baillis ’58, a retired vice president of software firm Malvern Systems now living in State College. “When I hear that our gift has made it possible for students to enjoy Penn State and develop their potential, it’s very rewarding.” John and Judith (who passed away in 2005) established the fund to help three different groups of undergraduates. Every year, one Baillis Scholarship goes to a student like Hannah Morris who is a top academic achiever at any Penn State campus, but the couple also wanted to assist
students who were facing special challenges to earning a degree. “Our own daughter didn’t take a direct path through her education,” says John. “She didn’t decide to go to college until her senior year of high school, so she enrolled in a special program at Penn State Brandywine, the campus closest to our home at the time, to catch up on the courses she needed. After two years, she left school to start a family, but she came back to Penn State when she was 25 years old and finished her degree at University Park. We saw what she went through, and we wanted to help others in her position.” A second Baillis Scholarship is awarded each year to a student at Penn State Brandywine who has the potential to succeed, but whose academic record doesn’t yet qualify him or her for acceptance in a degree program. The third Baillis Scholarship supports a Brandywine student who is 25 years of age or older or who has been out of high school for four years or more. “I wanted to set an example for my children—how could I honestly tell them to complete college if I didn’t?” says Taunja Belgrave, a mother of three and a recipient of the Baillis Scholarship. She began a degree twenty years ago, but she had to leave school to help support her family when her father died. Now she’s majoring in Human Development and Family Studies at the Brandywine campus, and she hopes to earn a doctorate in clinical psychology and open her own private practice. “The thought of returning to college after being away for such a long time was terrifying, and without scholarships, it would have been a huge financial burden,” Taunja says. “Thanks to the personal support of the Penn State faculty and staff, and the financial support of the Baillis Scholarship, my experience has been wonderful, and I will be able to reach my goals for myself and my family.” Hannah Morris, who graduated in May and is now working with Habitat for Humanity of Greater Pittsburgh through the AmeriCorps VISTA program, is also on track thanks to the Baillis Scholarship. “I wrote the poem because I wanted to express how much that support has meant to me,” she says. “I’ve been able to concentrate on school and the learning experience instead of focusing on earning money during college, and now I’m moving out into the world with a great degree. I can’t imagine where my life would be right now if it weren’t for Penn State and the Baillis Scholarship.” John Baillis (above), Taunja Belgrave (opposite, far left), Hannah Morris (opposite, near left)
The President’s Report on Philanthropy and Endowments
2009–10
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E n ha ncing Honor s Ed u cat i o n
It can be a tough road from Philly to Happy Valley, but two alumni are easing the way for some of the city’s most talented students.
John H. Ball ’55 and Barbara Shoemaker Ball ’56 had always followed the news from their alma mater, but one 1997 headline really hit home. “When we read the announcement about
the creation of the Schreyer Honors College and its mission of providing exceptional leadership education, it resonated with both us,” says John. “We thought, ‘Yes, this is the kind of opportunity that Penn State should be offering,’ and we wanted to make sure that it was available to students who would truly value the experience.” The Gladwyne, Pennsylvania couple were among the very first donors to step forward with their own gift to the ambitious new program established by Bill and Joan Schreyer. In 1998, the Balls endowed the Schreyer Honors College Scholarship for Philadelphia Residents, targeting graduates of high schools within the city limits. “I’m sensitive to the challenges faced by impoverished inner-city Philadelphia families because that’s where I come from myself,” says John, who graduated from Central High School and served in the Marine Corps before enrolling at Penn State. He credits much of his later success as head of a major construction firm to his experience at the University. “Frank Simes, the dean of men, encouraged me to grow as a leader,” he says. “That’s what the Schreyer Honors College was created to do for the University’s best and brightest, and that’s why we wanted to make it possible for Philadelphia students to choose Penn State.” Joey Traisler, a sophomore majoring in Mathematics, is a current recipient of the Balls’ scholarship. “Thanks to their support, I’m able to get the most out of being in one of the best honors colleges in the country, a fantastic community of intelligent, interesting, and enthusiastic students,” says Joey. “I had the opportunity to meet the Balls last year, and it was amazing to realize that they had chosen to use their own money to make my college experience better.” The feeling is mutual. “We’ve been very impressed with the students we’ve met over the years,” says John—so impressed that the Balls chose to increase the scholarship’s endowment in 2007. John currently serves on the Schreyer Honors College advisory board and campaign committee, and he is encouraging others to support the program and its students. “I tell alumni to learn more about what is happening at Penn State today,” he says. “If they do, they’ll find something as exciting to them as the Schreyer Honors College is to us.”
Barbara and John Ball (opposite, above), Joey Traisler (opposite, below)
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The President’s Report on Philanthropy and Endowments
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En r ich ing t he S t u d e nt Expe r i e nce
Abington students have their heads in the (hydrogen) clouds and their feet on the ground, thanks to a fund supporting undergraduate research.
They’re studying the Milky Way and religious architecture, breast cancer and Malcolm X. Their travels have taken them as far away as Morocco and Easter Island, but close to home, they’re building robots and tagging hawks. They’re dedicated researchers, but they aren’t faculty members—yet. As participants in Penn State Abington’s undergraduate research program,
approximately thirty-five students each year are getting invaluable hands-on experience in their fields, and the Gerald P. Kessler Endowment for Undergraduate Research is helping to take that experience to the next level. “We’re a small college that does undergraduate research in a big way, and Jerry Kessler’s support is allowing us to create even more research opportunities,” says Dr. Leah Devlin, director of the program. For decades, Abington faculty members had been collaborating informally with interested students, and the campus formalized this research experience a few years ago with the creation of an undergraduate research program that includes an annual poster fair and colloquium highlighting what participants have accomplished. In 2007, Jerry, a longtime supporter of the campus and managing director of Wells Fargo Advisors in Jenkintown, Pennsylvania, created an endowment to support the program. “Any success I’ve had in life has come from following my interests wherever they took me,” says Jerry, who started his education at Penn State Abington and completed a bachelor’s degree in History at University Park in 1965. “I want Abington students to have that same opportunity, and undergraduate research is a way for them to discover what they are capable of achieving.”
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Funds from the Kessler endowment have been used to create a prize for the research student who gives the best presentation at the campus undergraduate research colloquium held each fall; the award provides funds so that the student can share his or her work at a national conference. In 2009, Accounting major and Schreyer Scholar Angelisa Cataldo won for her research on how college students balance employment and studying. “It was an amazing experience for me, and it confirmed my interest in pursuing a Ph.D.,” says Angelisa, who worked with Dr. Lonnie Golden, professor of economics and labor studies, on the project. “The undergraduate research program at Penn State Abington helped me to discover how much I enjoy exploring new ideas, and Mr. Kessler’s support has given me the opportunity to learn even more about the research process and my options for the future.” The endowment has also provided support for a significant expansion of the spring poster fair into a week of events, as well as student and faculty travel related to research. In recent semesters, Dr. Ann Schmiedekamp, professor of physics, has taken a group of mostly freshmen and sophomores to the Greenbank National Radio Astronomy Observatory in West Virginia, where they collect data on the movement of hydrogen clouds in the plane of the Milky Way galaxy. “I love being able to show my students something beyond what they’ve learned in their introductory courses,” she says. “It’s a chance for them to understand the scientific enterprise, to learn how you look for answers when there’s no answer key. The Kessler funding offsets the cost for students, so that they have the freedom to choose an experience like this.” Sophomore Rob Arrowood took part in the most recent trip to the observatory. “It provided me with insight into the problems that scientists face in the field,” says Rob, who plans to complete a degree in aerospace engineering. “In class, we always learn about abstract and ideal situations. This project allowed me to see these concepts in a real setting.” Jerry, whose gifts to Penn State include undergraduate and graduate scholarships in the Smeal College of Business and an undergraduate scholarship at Penn State Abington, thinks that undergraduate research can help both the campus and students like Angelisa and Rob to fulfill their potential. “Opportunities like this program can help us to attract motivated undergraduates who are aiming to do more than punch out their required credits,” he says. “These students are putting a lot into their research, and they’re getting a lot out of it, too.” From left to right: Gerald and Joyce Kessler; Angelisa Cataldo; Rob Arrowood and Dr. Ann Schmiedekamp
The President’s Report on Philanthropy and Endowments
2009–10
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Buil ding Fa culty St r e ngt h a nd C a pa ci ty
An endowment helps a groundbreaking department attract faculty leadership for an exciting new era in its history.
In the early twentieth century, American companies began developing the innovations,
from assembly lines to automation, that would make the country an industrial leader, and Penn State began training the engineers who would keep those innovations coming. Established in 1909, the Department of Industrial and Manufac-
turing Engineering (IME)—now named for supporters Harold ’49 and Inge Marcus—is the oldest of its kind in the world, and its more than 7,000 graduates have gone on to careers in fields as varied as transportation and telecommunications, consumer products and construction. Thanks to the success and generosity of its alumni, including Peter Dal Pezzo ’68 and his wife, Angela, the program is now poised for a second century of leadership. “We are one of the top five IME departments in the country, but Peter and Angela believe that we can do more,” says Dr. Paul Griffin, the Peter and Angela Dal Pezzo Department Head Chair of Industrial and Manufacturing Engineering. “Their support is helping us— and our students—to become more global in our outlook and better prepared to contribute to an even broader range of businesses.” The Dal Pezzos’ own international perspective grows out of lives that have spanned continents and industries. After graduating from Penn State, Peter began his career at Bethlehem Steel, and he is now retired from his role as a vice president of global security technology manufacturer Pelco. Angela, a native of Switzerland, has a degree in international business and held positions at Pelco as well. Today, their travels take them not only overseas, but also to University Park, where Peter volunteers his time and expertise as a member of the IME department’s Industrial and Professional Advisory Council. “Through my involvement with the council, I became impressed with the department’s vision for its future and its commitment to creating global engineers— graduates with the skills and understanding to contribute on an international level,” says Peter. “Angela and I wanted to help the department fulfill that vision.”
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2009–10
The Dal Pezzos’ first major gift to the department created a chair for its head, and the endowment was instrumental in Griffin’s recruitment to the University in 2009. “It’s a tough time to be a department head, with enrollment up and resources down,” says Dr. Griffin, who came to Penn State from Georgia Tech. “I knew that with the resources of the Dal Pezzo Department Head Chair, I would be able to create opportunities for our students and faculty that wouldn’t otherwise be possible.” With funds from the endowment, Dr. Griffin has supported top graduate students and seeded new research ideas, including an undergraduate capstone project focused on energy-efficient manufacturing. Additional gifts from the Dal Pezzos have established three Trustee Scholarships in the department and launched the Global Manufacturing and Services Laboratory, where students collaborate on team projects with peers at international universities. “We are so interconnected today, and the greatest gift that you can give someone is the education that will enable them to succeed in the global economy,” says Angela. The Dal Pezzos hope that their support will lead to “a cycle of excellence,” says Peter. “We want Penn State graduates to have the hands-on experience, the exposure to well-known faculty, the understanding of the latest technology, that will help them to go out, do well, and support the next generation—many generations—of industrial engineers. Penn State has a great tradition in this field, and we want that to continue.” Peter and Angela Dal Pezzo (opposite); Dr. Paul Griffin
Fost er ing Discove ry a nd C r e at i vi ty
A community leader and a Penn State Behrend faculty member form a partnership for the future of Erie County.
As a social worker in Cleveland, Ohio, Susan Hirt Hagen met a client whom she couldn’t forget. “She was a thirteen-year-old girl pregnant
with her second child,” Susan recalls. “My assignment was to take her to court so that she could get permission to marry the father, but I couldn’t stop asking myself what kind of future was ahead for
this family. When children have children, the impact can last for generations.” Years later, when Susan had returned to her native Erie and, through time, became a community leader—her many achievements include serving as the first female president of the United Way of Erie County and receiving the organization’s highest honor, the Alexis de Tocqueville Award, as well as earning the Distinguished Citizen of the Commonwealth Award from the Pennsylvania Society—she was asked to serve on a committee tackling the problem of teen pregnancy in the region. The group discussed many possible strategies, but Susan was most impressed with the perspective of a faculty member from Penn State Erie, The Behrend College. “We really hit it off,” says Dr. Carl A. Kallgren III, associate professor of psychology at the campus. “Susan and I agreed that we had to take a research-based approach. We needed to consider the evidence about what works and what doesn’t work, and we needed to create a program that would really make a measurable difference in the lives of youth and in the life of the community.” That program—the Center for Organizational Research & Evaluation (CORE)—was launched in 1998 with annual funding from Susan Hirt Hagen. Over the next decade, she offered both support and guidance as Dr. Kallgren and a growing team of Penn State staff and students created programming and services based on the 40 Developmental Assets model of healthy youth development. Based on studies by the Search Institute in Minneapolis, Minnesota, the model suggests that a range of external and internal strengths, from positive family communication and caring schools to personal integrity and a motivation to achieve, are linked to a young Susan Hirt Hagen; Dr. Carl A. Kallgren III
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person’s ability to make good choices. “Above all, if you give kids a sense of hope and a vision for their future, they won’t drop out of school, and they won’t get pregnant,” says Dr. Kallgren. “The developmental assets approach takes time to implement, though, because it means engaging the entire community—social service agencies, schools, neighborhoods, families.” CORE has helped many local organizations with the research needed to secure funding for their efforts and evaluate their success, and the center has taken an increasingly active role in outreach. In 2005, with the partnership of the United Way of Erie County and other groups, CORE launched the Union City Sustained Healthy Youth Development Project. Targeting one of the county’s most impoverished school districts, Dr. Kallgren and his team have created a comprehensive program to engage students in afterschool clubs, mentoring relationships, and other activities designed to connect them with each other and the community. The program has already yielded extraordinary results, including a 55 percent reduction in the high school dropout rate for the last five years—a drop which is estimated to save local, state, and federal government at least $14 million in social services. “It’s incredibly rewarding to see that kind of impact,” says Dr. Kallgren. “Now we would like to customize the program for other schools throughout the county, and then possibly other areas of Pennsylvania. We can also use this approach to address a wide range of issues, such as alcohol abuse among young people. As we expand our scope, we’ll be seeking philanthropic partners who want to support our efforts in specific communities and on specific issues, but Susan has been the pioneer, the one who makes everything else possible.” In 2008, as CORE celebrated its tenth anniversary, Susan endowed the program, now named the Susan Hirt Hagen Center for Community Outreach Research and Evaluation. “The need for healthy youth development isn’t going to go away,” she says. “I don’t want CORE to go away, either. We’re trying to create a cultural shift, and that’s a slow process. It takes time to gain the trust of families and communities. I want the people of Erie County to know that CORE will be their partner in helping every generation of young people to make good choices for their future.”
The President’s Report on Philanthropy and Endowments
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Susta in ing a Tr a d i t i o n o f Q ua li ty
Remembering her own early years, an alumna seeds opportunities for the youngest visitors to The Arboretum at Penn State.
The nature-loving Udine family settled in State College when their daughter Marcia was a teenager, and they put down roots—literally. “My father was always
growing some odd thing in the yard, and my mother knew where to find every wildflower in Centre County,” recalls Marcia Udine Day ’49. “I always loved walking together through the woods near the Penn State campus. If you learn to care about nature when you’re young, it makes your whole life richer.” Now Marcia is helping other central Pennsylvania kids to discover their own love for the natural world through an endowment supporting children and youth programs at The Arboretum for Penn State. The fund is named for Marcia and her late husband, Robert J. Day ’47, who joined the United States Gypsum Corporation in 1950 and retired as the company’s chairman and CEO forty years later. The couple, who made their home in Illinois, had worked with Penn State in the 1980s to establish two charitable gift annuities, but they were still considering how their support should be used when Robert died in 1998. The Days, who toured many public gardens and arboreta together, had always hoped that Penn State would create one on the University Park campus, and as the progress on the project accelerated in 2007, Marcia committed their support. Income from the Days’ gift has helped to cover the preliminary design costs of the Children’s Garden, a space that will be “a year-round learning environment where teachers and families can help children understand what it means to live in this landscape,” says Linda Duerr, director of Penn State’s Child Development Laboratory. She is a member of the team that has worked with the Arboretum director, Dr. Kim Steiner, and design firm EDAW/AECOM to plan the garden. The space will be a microcosm of central Pennsylvania, with childscale ridges and valleys and a miniature forest and prairie. Linda, who anticipates that the garden will be a regular destination for groups from local and University child care centers, says, “This space can help children to better understand their community and their own role as stewards of the earth that we share.”
Marcia Udine Day
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The Days’ endowment will continue to support the development of the Children’s Garden, and Marcia hopes that their gift might inspire another donor to name the space. “It gives me a precious thrill to realize that this land, just down the street from where my family lived in State College, will be preserved in perpetuity for other families,” she says. “It’s a step into the future that will grow, live, and change. That is very gratifying.”
Linda Duerr
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Concep ts in Phil a nt hr o py
Scholarship programs at Penn State Scholarships are the top priority of For the Future: The Campaign for Penn State Students, and the University offers a range of opportunities for alumni and friends to target their support to the students with whom they feel the strongest connection. By establishing an endowment through the Trustee Matching Scholarship Program, donors can not only secure an annual match of 5 percent of the total pledge or gift creating the endowment; they can also request that their support be directed to students with financial need who meet one other preference of the donors’ choice, such as academic major, geographic region, or involvement in a particular activity. While creating an endowment with fewer criteria for recipients allows for greater flexibility in targeting support where it is most needed, Penn
State’s development staff can help donors to find the scholarship program that will best achieve their personal philanthropic goals, such as increasing diversity at the University, encouraging academic excellence, or honoring the experiences and achievements of loved ones. “Our daughter loves the fact that we created a scholarship that helps students like her,” says John Baillis. For a full list of Penn State’s scholarship programs and more information about how to create an endowment that expresses your own values and interests, please visit: www.giveto. psu.edu/scholarships.
Increasing existing endowments As a longtime leader in the construction industry, John Ball recognizes the value of building on a strong foundation. When the
A group from Penn State Abington at the Greenbank National Radio Astronomy Observatory
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The President’s Report on Philanthropy and Endowments
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University launched For the Future: The Campaign for Penn State Students in 2007, John and his wife Barbara chose to add to the scholarship fund they had created soon after the Schreyer Honors College was established a decade earlier. “We had seen the effect of our scholarship in the lives of students, and we knew that the need for support had continued to grow since we made our gift,” says John. For many donors like the Balls, increasing an existing endowment is a meaningful way to deepen their philanthropic relationship with the University. These gifts count toward Penn State’s campaign goals, and they can expand the scope and impact of an endowment: reaching more students, addressing new or greater needs, recognizing and rewarding a program’s success. Donors whose financial position has grown stronger over time can add to their endowments and create an even greater legacy for Penn State and its students.
stepping stone, but I want people to think of it as a first-rate school, a real academic destination,” says Jerry Kessler. “I hope that my gift to support undergraduate research can contribute to that shift.” Endowments for Penn State programs can launch new initiatives or enhance existing efforts, and they can be tailored to specific needs and opportunities, as well as to the interest and ability of individual donors. With a gift of $25,000 or more, alumni and friends can endow activities as diverse as literacy outreach, volunteer service, study abroad, and public broadcasting. Donors who have the capacity to make a landmark gift can endow centers, institutes, and even academic departments. By providing permanent support for everything from lectureships to libraries, program endowments are vital to Penn State’s ability to take on new challenges and fulfill its enduring commitment to students, citizens, and the larger world.
Creating program endowments
Department head chairs and other faculty endowments
The undergraduate research program at Penn State Abington has become a flagship initiative for the campus and a powerful example of how philanthropy can change the nature and reputation of the education offered by the University. “When I was an undergraduate, Penn State Abington was a
“I want the Department of Industrial and Manufacturing Engineering to be a global leader, and that means having the right leader for the program,” says Peter Dal Pezzo. “A named department head chair has enabled Penn State to attract some amazing
Deferred Giving 2001–2010 (Fiscal year ending June 30) 2001
26.6
2002
24.3
2003
48.1
2004
30.0
2005
14.4
2006
21.1
2007
25.2
2008
21.5
2009
24.6 27.6
2010
00
10 10
20 20
30 30
40 40
50 50 in millions of dollars
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candidates for the position, and it also gives the program more stature both at the University and in the engineering world.” One of the most prestigious honors that can be offered to a faculty member, endowed positions allow Penn State to compete not only with other institutions but also with business, industry, and government for academic stars. The funds provided by a department head chair are not used to supplement the salary of the chairholder; instead, they are strategically directed to high-priority needs and opportunities across a program, from recruitment of top students and faculty to development of new courses and research initiatives. Other types of endowments, such as professorships or endowed chairs, can advance the teaching and research of extraordinary faculty by covering expenses such as start-up costs for laboratories, stipends for graduate assistants, or hands-on research experiences for undergraduates. For further details on faculty endowments at Penn State, as well as information on the Faculty Endowment Challenge, which offers a 1:2 University match for gifts creating Early Career Professorships, please visit: www.giveto.psu.edu/faculty.
Annual funding, endowments, and early activation Annual funding and endowments both play a critical role in supporting Penn State 20
programs and students. For some donors, annual gifts offer them important financial flexibility; for others, a fixed-term commitment allows them to see the impact of their support before they make an endowed gift. In 1998, Susan Hirt Hagen was able to jumpstart development of the Center for Organizational Research and Evaluation by committing to three years of funding, and she renewed that support over the following decade. CORE’s track record of success and her desire to see its efforts continue led her to endow the center in 2008. “If you have a deep interest in a particular area, you want to perpetuate that interest forever,” says Susan. Penn State’s supporters can enjoy some of the benefits of both annual funding and endowments through early activation. If donors have committed to creating an endowment through a five-year pledge, estate plan, or other planned gift structures, they can activate the fund by committing to a minimum of five years of annual funding at 5 percent of the endowment’s value, approximately equivalent to its projected payout. These early activation funds are used for the same purposes as the endowment, but they do not become part of the endowment’s principal. Instead, funds go directly to the programs and opportunities the donors wish to support, and the endowment itself is established when the donors’ estate is settled or the pledge is fulfilled, creating a permanent source of income.
The President’s Report on Philanthropy and Endowments
2009–10
Charitable gift annuities and other gift planning vehicles “These giving structures are unique in that they can be used twice: for your family and for Penn State,” says Marcia Udine Day, whose husband, Robert, took the lead in establishing two charitable gift annuities at Penn State in the 1980s. One of the easiest and most popular ways to make a planned gift to the University, a charitable gift annuity can be established with a gift of $10,000 or more, and it provides donors with guaranteed income for the duration of their lifetimes. The annuity’s payout rate is established at the time of the gift and never changes, even as the return on other investments fluctuates, and up to two individuals can receive income from the annuity. After their deaths, the University receives the remainder of the annuity and directs the funds to the Penn State programs and opportunities that the donors wished to support. Charitable gift annuities are among the many options available to alumni and friends who wish to make a planned gift to the University. Last year, Penn State received more than $14.4 million from charitable gift annuities and other life income gifts, and $13.2 million in realized bequests. These opportunities can help donors to have the greatest possible impact on the University and its students while helping to ensure the financial security of themselves and their loved ones. For more information, please contact Penn State’s Office of Gift Planning (1-888-8009170 or giftplanning@psu.edu).
ENDOWMENT CATEGORY Academic Endowments Dean’s Chair Department Naming Department Head’s Chair Faculty Chair Professorship Early Career Professorship
MINIMUM GIFT
$ 5,000,000 $ 5,000,000 $ 3,000,000 $ 2,000,000 $ 1,000,000 $ 500,000
Student Endowments Graduate Fellowship Distinguished Graduate Fellowship Honors Scholarship Undergraduate Scholarship Destiny Scholarship Enrichment Scholarship Trustee Scholarship Renaissance Scholarship
$ 250,000 $ 250,000 $ 50,000 $ 50,000 $ 50,000 $ 50,000 $ 50,000 $ 30,000
Program Endowments Lectureship Research Program Support Libraries Awards
$ 100,000 $ 50,000 $ 25,000 $ 25,000 $ 20,000
The President’s Report on Philanthropy and Endowments
2009–10
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Awa r ds a n d H ono r s
Each year, the Division of Development and Alumni Relations honors those individuals and companies that have been instrumental in our fundraising success. In 2010, we celebrated the following award winners. Philanthropists of the Year: Stephen G. and Nancy L. Sheetz This award recognizes an individual, couple, or family who has demonstrated exceptional generosity in the promotion and support of The Pennsylvania State University. Through their philanthropy, the recipients have helped to shape Penn State’s future and enabled us to better serve students and citizens. Through their philanthropic and volunteer leadership, Steve and Nancy Sheetz are transforming educational opportunities in the greater Blair County region where they both grew up. In 2009, the couple made the largest commitment in the history of Penn State Altoona to expand its entrepreneurial studies program. Their gift also created the Sheetz Fellows initiative, which takes undergraduate business education beyond the traditional curriculum to cultivate ethical judgment, intercultural awareness, and other skills and attitudes that will help students to become responsible business leaders—the same goal that has driven Steve’s own career as chairman of the board of Sheetz, Inc., one of the nation’s largest family-owned-and-operated convenience store chains. Steve began his education at Penn State Altoona and graduated from the University in 1969 with a bachelor’s degree in business management. A Distinguished Alumnus and an Alumni Fellow of Penn State, Steve served on the Penn State Board of Trustees from 1995 to 1998. He has also has been a member of the Penn State Altoona advisory board since 1984, and he has chaired several fundraising efforts for the campus. Steve and Nancy have also led by example with their extraordinary support for Penn State Altoona, including the Sheetz Family Endowed Scholarship and the Sheetz Visiting Lecture Program. In 2010, they increased their commitment to the entrepreneurship center and the Sheetz Fellows, affirming their belief in the potential of Penn State Altoona and its students.
Fundraising Volunteer of the Year: John Curley This award recognizes an individual or group who has served as fundraising volunteers, teachers, or mentors while demonstrating exceptional commitment and leadership in building philanthropic support for The Pennsylvania State University.
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The President’s Report on Philanthropy and Endowments
2009–10
For more than twenty years, John Curley has proved that you don’t have to be a graduate of the University to be a dedicated Penn Stater. The first editor of USA Today and the former president, chairman, and CEO of Gannett Co. Inc., John was appointed to the College of Communications Board of Visitors in 1989, and he has continued to offer his expertise to Penn State and its students ever since. In 1999, the graduate of Dickinson College and Columbia University was named an honorary alumnus of Penn State for his achievements and service. Currently, John is Distinguished Professional in Residence and Professor of Journalism in the College of Communications, where he has taught for almost ten years. He helped to found the John Curley Center for Sports Journalism, established in 2003 and named in his honor in 2006. As a volunteer, John has chaired the college’s Board of Visitors for more than a decade, and he served on the Grand Destiny campaign executive committee and the National Council on Penn State Philanthropy. A generous supporter of the College of Communications, he now leads its campaign committee, and he continues to help both the college and the University as a whole to capitalize on their strengths and make important connections with the wider world.
Corporate Partner of the Year: The Dow Chemical Company This award recognizes a corporation that has demonstrated extraordinary generosity in promotion and support of The Pennsylvania State University. Recipients are chosen on the basis of consistency of giving, support to areas of greatest needs, and impact across Penn State. Over the last two decades, the Dow Chemical Company has set a new standard for corporate philanthropy to Penn State, and the nearly 350 alumni who currently work for Dow are helping to deepen a relationship that continues to benefit both the University and the company. Dow’s support reflects its diversified interests and international leadership in a broad range of science and technology fields. Its gifts to Penn State have spurred innovative research and education in agricultural sciences, chemistry, chemical engineering, earth and mineral sciences, and materials science, and Dow is a member of the Institute for the Study of Business Markets in the Smeal College of Business. The company has also supported the MBNA Career Services Center and invested in recruitment efforts at Penn State. Dow’s employees include loyal former students of the late Dr. Larry Duda, a longtime chemical engineering faculty member whose own career began at Dow. In 2006, the company established the Dow Chemical Co. and Larry Duda Excellence in Chemical Engineering Fund— at that time, the largest corporate endowment ever created at Penn State. The fund, whose resources directly benefit both students and faculty, honors Dr. Duda’s contributions to the field of chemical engineering and celebrates the unique and enduring partnership between Penn State and the Dow Chemical Company.
The President’s Report on Philanthropy and Endowments
2009–10
23
En dowmen t Overvi ew
Endowed gifts are held by Penn State in perpetuity. The initial gift is invested and a portion of the average annual investment return is spent for the purpose designated by the donor. The remaining income is added to the principal as protection against inflation. Thus an endowed gift today will have relatively the same value for future generations. Penn State’s endowment portfolio, into which endowed funds established at the University are invested, is a commingled pool that operates much like a mutual fund. Each endowment owns a number of units in the pool, just as an individual would purchase shares in a mutual fund. And as with a mutual fund, the value of each unit at the time funds are invested in the pool determines how many units an individual fund acquires.
agement philosophy in investing these gifts so that they maintain their value in real, inflation-adjusted terms over time. The University’s Board of Trustees has established four basic endowment management principles to guide the University’s Investment Council. These four principles ensure that the spending power of each endowment gift will be maintained in the face of economic fluctuations.
Basic Endowment Management Principles 1. Provide sufficient current and future income to meet the University’s spending objectives and enhance its mission. 2. Focus on long-term performance. 3. Accept a reasonable and prudent level of risk while maximizing “total” return. 4. Diversify investments to reduce risk.
Penn State strives to be a good steward of its endowed gifts and follows a prudent man-
gifts to endowment (Fiscal year ending June 30) 80 80 69.1
70 70 60 60
72.8
70.2 61.2 62.5
58.5
56.5 51.4
50 50
55.2
42.4
40 40 30 30 20 20 10 10 0
0
’01
’02
’03
’04
’05
’06
’07
’08
’09
’10
in millions of dollars
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The President’s Report on Philanthropy and Endowments
2009–10
Invest men t M a nga ge me nt Upd at e
Penn State’s endowment investments consist of a diversified portfolio of public equities, bonds, private capital, and hedge funds in addition to real assets. In managing our investments, we adhere to a prudent, rational, long-term strategy that seeks to maintain steady growth while minimizing the effects of volatile market fluctuations. For many years, the University provided 5 percent of the pooled endowment’s five-year average market value for spending on scholarships and educational programs. However, given prospects for modest, long-term investment market returns, the payout rate has been reduced incrementally over the last several years, and the rate was lowered to 4.5 percent for fiscal year 2010. The University’s spending policy of using rolling five-year average balances is intended to smooth out the “peaks” and “troughs” in the investment markets, saving a portion of the earnings in the good years to offset the less profitable years—thus providing generous current
spending while preserving future purchasing power. This is known as “intergenerational equity.” As of the end of fiscal year 2010, endowment and similar funds were valued at $1.44 billion, of which $1.34 billion was invested in the Endowment Pool. Similar funds, which include charitable remainder trusts, charitable gift annuities, and other life income funds in addition to some donor-restricted funds, represented $97.6 million in assets that are not directly invested in the Endowment Pool. For the year ending June 30, 2010, the endowment increased $158 million, and it has increased a cumulative $50 million over the last five years. Over this same period, the endowment has provided $304 million of program support, including $63 million in fiscal year 2010. These amounts reflect the impact of investment returns and generous giving, including consistent support for scholarships and University programs.
Market Value of Penn State’s Endowments and Similar Funds (Fiscal year ending June 30) Endowment Pool
Similar Funds
Total Value
2001
899
87
$986
2002
842
101
943 965
2003
882
83
2004
1,007
100
1,107 (1.11 billion)
2005
1,128
103
1,231 (1.23 billion)
2006
1,280
110
1,390 (1.39 billion)
2007
1,537
132
1,669 (1.67 billion)
2008
1,488
128
1,616 (1.62 billion)
2009
1,184
97
1,281 (1.28 billion)
2010
1,342
98
1,439 (1.44 billion)
0
in millions of dollars
500 n Endowment Pool
1000 Funds n Similar
The President’s Report on Philanthropy and Endowments
1500
2009–10
2000
25
For fiscal year 2010, the endowment’s investment return was 14.3 percent, and it has averaged 4.3 percent per year over the last five years. In the longer term, Penn State’s endowment has averaged 8.2 percent per year, net of gifts and expenses, since June 30, 1990. These results demonstrate long-term growth across various financial ups and downs, such as the bull market of the 1990s, the steep decline at the turn of the century and subsequent economic recovery, and the recent downturn due to the credit crisis. Penn State’s diversified approach has allowed the endowment to support program spending,
such as scholarships and faculty positions, while maintaining real, inflation-adjusted growth for the future generations. Looking forward, the steady growth of the world economy has heightened inflation concerns, especially natural resources such as oil and gas. With approximately 15 percent of our investments regarded as inflationsensitive, Penn State’s diversified endowment portfolio continues to be appropriately invested for long-term growth and sustainable spending.
Endowment Asset Mix (Fiscal year ending June 30, 2010)
25% 55%
Where Penn State invested its endowed funds
n Public Equities n Fixed Income n Private Capital Private Capital 20% Fixed Income Public Equities The Penn State endowment portfolio is broadly diversified, with 20 percent fixed income as of June 30, 2010; 55 percent in public equities (both U.S. and non-U.S.); and 25 percent in a variety of other (alternative) investments including real estate, private capital, venture capital, and energy. The majority of the endowment’s assets are equity-type investments that, over the long term, generate returns in excess of inflation in order to preserve the endowment’s purchasing power for future generations. In the year ending June 30, 2010, global equity markets rallied strongly, largely erasing losses incurred during the twelve months ending June 2009, while fixed income returns were positive for the fourth consecutive year. Bonds, as measured by the Barclays Capital Aggregate Bond Index, earned a total return of 9.5 percent in fiscal year 2010 while public equities, as measured by the MSCI All Country World Index, returned 12.3 percent. Penn State’s private equity is comprised of private partnership investments, including private equity and venture capital partnerships which returned 22.5 percent and 6.4 percent, respectively.
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The President’s Report on Philanthropy and Endowments
2009–10
Long-Term Investment Performance of Endowment Penn State’s endowment earned an investment return of 14.3 percent, excluding the impact of new gifts and spending. While stock market returns often fluctuate from year to year, the endowment’s well-diversified portfolio can weather short-term fluctuations and generate consistent positive returns over long periods of time. Net of all fees and expenses, the Penn State endowment has averaged 3.8 percent per year over the last ten years and 8.2 percent over the last twenty years, allowing the endowment to maintain steady inflationadjusted spending and to achieve longterm intergenerational equity.
Penn State’s Investment Council Penn State’s Board of Trustees created the Investment Council in response to the University’s increasing asset base and complex investment strategies. The council provides direct oversight of the endowment and long-term investment program, and it regularly reviews asset allocation, new asset classes, investment strategies, and manager performance. Council Members Al Horvath, chair Senior vice president for finance and business/ treasurer, The Pennsylvania State University David Branigan Executive director, Office of Investment Management, The Pennsylvania State University Timothy J. Crowe Managing director, Anchor Point Capital LLC
average annualized total returns for periods ending june 30, 2010
15
(Net of fees) Total returns include interest, dividends, and market appreciation
14.3%
Carmen Gigliotti Managing director, Private Market Group, DuPont Capital Management Edward R. Hintz Jr. President, Hintz Capital Management
12
Arthur D. Miltenberger Vice president and chief financial officer (retired), R.K. Mellon & Sons Colleen Ostrowski Vice president and treasurer, ITT Corporation
9
8.2%
J. David Rogers Chief executive officer, J.D. Capital Management
6
Gary Schultz Senior vice president for finance and business/ treasurer emeritus
3.8%
Linda B. Strumpf Chief investment officer, The Helmsley Charitable Trust
0
3
4.1%
20-year 10-year 5-year 1-year
The President’s Report on Philanthropy and Endowments
2009–10
27
University Budget Summaries
income (Fiscal year ending June 30) 0.4% 0.5% 4.0% 9.0% 33.7% 8.5%
16.9%
Millions of dollars
n Tuition and fees n Medical Center/Clinic n Restricted funds* n State appropriation n Auxiliary enterprises n Philanthropy and other n Agriculture (federal) n Federal Stimulus Funds
$1,265.9 992.2 637.3 318.1 338.1 174.3 19.9 15.8
Federal Stimulus Total
$3,761.6
*primarily sponsored contracts and research grants Agriculture
26.4%
Philanthropy and other Auxiliary enterprises
expenditure (Fiscal year ending June 30)
4.0%
State Appropriation
2.9% 1.2% 2.4%
Restricted Funds Millions of dollars
17.7%
n Instruction academic support $644.6 Medical and Center/Clinic n Medical Center/Clinic 992.2 n Research 566.5 Tuition and Fees n Auxiliary enterprise 338.1 n Academic support 324.6 n Institutional support 283.1 n Physical plant 196.3 n Public service 152.2 n Pennsylvania College of Technology 94.1 26.4% n Student services 107.8 Student Aid n Student aid 44.3
5.2% 7.5%
8.6%
9.0% 15.1%
Total Student Services
$3,761.6
Pennsylvania College of Technology Public Service Physical Plant Institutional Support
28
The President’s Report on Philanthropy and Endowments Academic Support
2009–10
The State’s Share of Penn State’s Budget Year total budget 2010–11
state appropriation
$4,016,443,000
percent of total
$333,863,000*
8.3%
2009–10
3,761,608,000
333,863,000*
9.0%
2008–09
3,607,440,000
338,375,000*
9.4%
2007–08
3,411,528,000
334,230,000*
9.8%
2006–07
3,209,165,000
327,715,000*
10.2%
2005–06
3,044,868,000
312,026,000*
10.2%
2004–05
2,786,403,000
317,179,000
11.4%
2003–04
2,560,309,000
307,844,000
12.0%
2002–03
2,402,717,000
322,592,000
13.4%
*Excludes state and federal medical assistance funding provided to Penn State Milton S. Hershey Medical Center through the Pennsylvania Department of Public Welfare.
Sources of Gifts RecEived 2009–10
| Where the $203.4 million came from
8.1% Sources
15.6%
Amounts
n Individuals 49.9%
Number of donors
$101,553,945
176,553
Alumni
65,090,498
76,146
Friends
36,463,447
100,407
53,555,596
6,294
31,729,018
447
n Corporations n Foundations n Organizations Total
26.4%
16,549,220 $203,387,779
1,889 185,183
Organizations Foundations Corporations Indivuals
The President’s Report on Philanthropy and Endowments
2009–10
29
designated Purposes of gifts received 2009–10 | Where the $203.4 million went .7% 2.1% .2% 3.6% 4.8%
2.7%
Purposes
23.0%
4.8%
17.4%
21.6%
Amounts
n Property, buildings, equipment n Research n Student aid n Other* n Faculty resources n Four Diamonds Fund n Unrestricted to units n Academic divisions n Public services & extension n Unrestricted University-wide Library n Library resources Total
43,849,904 38,897,536 35,424,304 9,824,686 9,787,221 7,289,955 5,429,480 4,186,130 1,446,406 383,436
$203,387,779
Unrestricted U Wide
19.1%
$46,868,721
*This category includes gifts to the Children’s Miracle Network, multipurpose funds, and gifts awaiting designation Public Service &by Extdonors.
Gifts Designated to Specific Units 2009–10 Academic Div UNIT
Amount
Abington
606,458
UNIT
Amount
Health & Human Development
6,228,665
Unrestricted to Units
Agricultural Sciences
9,999,494
Hershey Medical Center
Altoona
2,253,351
Four Diamonds Fund Info Sciences & Technology
Arts & Architecture
7,958,595
Intercollegiate Athletics
Beaver
525,990
Behrend Berks
4,851,356 307,245
33,439,539 1,237,756 27,769,836
Lehigh Faculty Valley resources
1 1 9 ,1 1 1
Liberal Arts
8,984,030
Mont Alto Other
611,885
Brandywine
2,866,860
New Kensington
Communications
1,931,375
Outreach
Dickinson School of Law
7,372,746
Student Aid
5,677,205
Research & Grad School
3,591,949
Schreyer Honors College
2,411,245
DuBois
300,794
660,276
Research
13,532,715
Schuylkill
312,835
Eberly College of Science
4,643,661
Shenango
357,650
Education
1,354,577
Educational Equity
659,791
Earth & Mineral Sciences
22,551,098
Properties, Bldgs, Equip Smeal College of Business
6,990,993
Student Affairs
732,474
Undergraduate Education
3,407,891
Fayette, The Eberly Campus
864,930
University Libraries
2,113,785
Great Valley
259,762
University-wide
11,195,531
Greater Allegheny
412,996
Wilkes-Barre
394,800
Harrisburg
1,788,835
Worthington Scranton
947,496
Hazleton
712,553
York
447,645
TOTAL
$203,387,779
Engineering
30
The President’s Report on Philanthropy and Endowments
2009–10
250 Growth in Private support and donor base 203.4
200 200
190.3 181.3 176.9 180.7
181.5 182.1 165.2 151.3
Gift receipts
150150 130.9
100
100
’01
’02
’03
’04
’05
’06
’07
’08
’09
’10
in millions of dollars
300 300
284.7 277.5
273.8 265.2
250 250
New commitments 200 200
200.9
197.9 196.4
173.0
170.3 150 150
’01
’02
’03
163.4
’04
’05
’06
’07
’08
’09
’10
in millions of dollars
185,183 181,918 163,111
200,000 200000
143,517 132,791 132,931
Number of donors
120,680
150,000 150000
122,539 124,519 116,971
100,000 100000
’10
’02
’03
’04
’05
’06
’07
’08
’09
The President’s Report on Philanthropy and Endowments
’10
2009–10
31
Campaign Executive Committee
Peter G. Tombros
Campaign Chair E. Lee Beard
Campaign Vice Chair Chair, Campus Committees Edward J. Beckwith
Chair, Planned Giving Advisory Council
Dennis P. Brenckle
Chair, The Penn State Milton S. Hershey Medical Center Campaign Committee James S. Broadhurst
Past Chair, Board of Trustees, The Pennsylvania State University Linda J. Gall
Steve A. Garban
Chair, Board of Trustees, The Pennsylvania State University Edward R. Hintz
Honorary Campaign Chair Martha B. Jordan
Chair, Annual Giving Committee
Chair, Stewardship Committee
32
The President’s Report on Philanthropy and Endowments
2009–10
William A. Jaffe
Bruce R. Miller
Robert E. Poole
William A. Schreyer
Edward P. Junker III
Chair, College Committees
Catherine Shultz Rein
Richard K. Struthers
At-large Member At-large Member Jeffery L. King
At-large Member
Campaign Vice Chair
Arthur J. Nagle
Honorary Campaign Chair Joseph V. Paterno
Chair, Leadership Gifts Committee Chair, Corporate Relations Committee Douglas L. Rock
At-large Member
Honorary Campaign Chair At-large Member John K. Tsui
At-large Member
Honorary Campaign Chair
The President’s Report on Philanthropy and Endowments
2009–10
33
Ex Officio Members
Graham B. Spanier
President, The Pennsylvania State University Rodney A. Erickson
Executive Vice President and Provost, The Pennsylvania State University
34
Albert G. Horvath
Senior Vice President for Finance and Business/Treasurer, The Pennsylvania State University Rodney P. Kirsch
Senior Vice President for Development and Alumni Relations, The Pennsylvania State University
The President’s Report on Philanthropy and Endowments
2009–10
This publication can also be found on the Web at: president.psu.edu/philanthropy
For more information about philanthropy at Penn State, contact: Rodney P. Kirsch Senior Vice President for Development and Alumni Relations The Pennsylvania State University 116 Old Main University Park, PA 16802-1501 814-863-4826
rpk6@psu.edu
The Pennsylvania State University is committed to the policy that all persons shall have equal access to programs, facilities, admission, and employment without regard to personal characteristics not related to ability, performance, or qualifications as determined by University policy or by state or federal authorities. It is the policy of the University to maintain an academic and work environment free of discrimination, including harassment. The Pennsylvania State University prohibits discrimination and harassment against any person because of age, ancestry, color, disability or handicap, national origin, race, religious creed, sex, sexual orientation, or veteran status. Discrimination or harassment against faculty, staff, or students will not be tolerated at The Pennsylvania State University. Direct all inquiries regarding the nondiscrimination policy to the Affirmative Action Director, The Pennsylvania State University, 328 Boucke Building, University Park, PA 16802-5901; Tel 814-865-4700/V, 814-863-1150/TTY. U. Ed. DEV 10-45 ajs
Questions or comments about your report may be directed to:
Gifts to your endowment may be sent to the address below or made online at www.giveto.psu.edu
Kathleen Rider Director of Stewardship stewardship@psu.edu Office of Donor Relations The Pennsylvania State University 11 Old Main University Park, PA 16802 Phone (toll-free): 877-800-6113
Office of Donor Services The Pennsylvania State University 1 Old Main University Park, PA 16802 Phone (toll-free): 877-888-5646 Be sure to include the name of the endowment with your gift.
The President’s Report on Philanthropy and Endowments | 2009-2010