Experiential learning and a new scholarship help students take on real issues
Faculty-led
Message from the University President and
Chair of the Board
Dear Friends,
This annual report covers the final year of Big Ideas. Bold Plans. The Campaign for the University of Rhode Island, which we are thrilled to say surpassed its goal and raised more than $303 million. Reflecting on the accomplishments highlighted here, and indeed throughout the campaign over the last several years, we are confident that URI has never been in a better place. That is due largely to the extraordinary support and generosity from you and so many in our community. Thank you.
It is truly an inspiration to see what is possible when we work together. Big things are happening here—URI is helping more students than ever through financial aid, we are leading the way in research on some of today’s
most pressing issues, we are powering the local economy—and the world is taking notice.
The achievements of recent years have positioned us to pursue new goals: advancing and expanding health care in New England, becoming a destination for arts and culture in Rhode Island, preparing our student-athletes to succeed at the national level and in their lives beyond sports, and much more. With our long-term strategic vision and with the URI Foundation & Alumni Engagement, we will accomplish all these things and more.
We could not do this without the support of our alumni and friends. We encourage you to stay involved—stay in touch, come back to our campuses often, follow and share the good news coming out of URI and your own URI
story, and support hard-working students and visionary research. The Wall Street Journal recently ranked URI the number one public university in New England, and we are so grateful to continue working with you to make URI one of the very best flagship public research universities in the world.
With best regards,
Marc B. Parlange, Ph.D. President, University of Rhode Island
Margo Cook ’86 Chair, URI Board of Trustees
Message from URI Foundation & Alumni Engagement Leadership
Dear Friends,
Together, we have propelled the University of Rhode Island to new heights as we successfully concluded Big Ideas. Bold Plans. The Campaign for URI on June 30, 2024. Through the generosity of alumni, parents, friends, corporations, and foundations, we raised $303.6 million to support students, faculty, and strategic initiatives. Each gift of every size contributed to achieving and then surpassing our goal—thank you.
This report highlights how these gifts inspired our students and faculty to push the boundaries of academic excellence and research. Across the University, they demonstrate
innovative spirit, hard work, and distinct skill in the classroom, in labs, in experiential learning, and in athletic competition.
As we reflect on the accomplishments from the past year, we see a university that is undeniably on the rise. By working in concert with President Marc Parlange to achieve the goals set out in his 10-year strategic plan, we are certain to achieve even bigger things in the future. In everything we do, we will remain focused on providing an academic environment centered on student access and research innovation.
As you read through this report, we hope you will be proud of your university and inspired to stay involved.
We invite you to join us for lectures, webinars, sports, community events, and networking opportunities throughout the year. Our community is stronger thanks to your participation and support.
With best regards,
Lil Breul O’Rourke President, URIFAE
Raymond M. Williams ’87, P’21 Chair, URIFAE Board of Directors
l-r (left photo) Lil O’Rourke, Margo Cook, Ray Williams, and Marc Parlange visit the DeChristofaro Center for Biotechnology and Life Sciences and Professor Claudia Fallini’s lab.
BY
THE NUMBERS
34,292 individuals contributed to the campaign.
2,336 scholarships offered through URIFAE.
$22.8M raised for RhodyNow during the campaign.
10 Gilman Scholars this year. URI is a top producer for this U.S. Dept. of State program supporting study abroad.
3,600+ alumni attended events.
285 students supported through the Students First Fund.
$5.67M awarded in scholarships by URIFAE.
5 consecutive Governor’s Cup wins against Brown football.
The Voyager from Vegas
A prestigious scholarship sends a student through Europe where the personal meets policy
From Las Vegas to Rhode Island to a four-nation tour of Europe, and it seems clear that Jasmin Valdivieso Sanches’ life journey is only getting started. Before becoming one of just 100 students across the nation to earn the Obama-Chesky Voyager Scholarship for Public Service, she worked to save money to attend college, held two jobs at the same time, and joined the Rhode Island National Guard. Her curriculum vitae speaks for itself, but her own words lend depth to her recent international travels:
“This past summer, I had the incredible opportunity to travel throughout Europe, where I volunteered at two small NGOs: Gyros in Great Yarmouth, UK, and Guarani in Madrid, Spain.
“I immersed myself in observing the intersection between anti-immigration policies and their impact on immigrants, specifically regarding access to essential public goods like education, employment, health care, housing, and pathways to citizenship. In addition to administrative work, I taught English classes and ran workshops, but what
I enjoyed most was shadowing the professionals at these organizations, my ‘coworkers.’
“As part of my work, I conducted interviews with immigrants, and towards the end of these conversations, many turned the tables, asking me questions about U.S. immigration, politics, and my family’s experiences. Some noticed when I became emotional while talking about my family’s experiences. They saw how deeply personal this work was for me, and how passionate I was about advocating for immigrant rights.”
Insight from a psychologist working at Guarani added a new dimension to Valdivieso Sanches’ work. Having gone in focused on the legal and policy aspects of immigration, she came away with an intimate understanding of the struggles of immigrants to maintain mental and physical well-being after escaping trauma to start a new life.
Back in Kingston, her ability to approach an issue on multiple levels comes as no surprise. URI Lecturer Daniel Carrigg ’06, M.A. ’08 has praised both her work ethic and talent for scholarship, crediting her with
“an inductive ability to take a lot of her experiences and what she has read and extrapolate up to general principles.”
Valdivieso Sanches, a double major in political science and gender and women’s studies, brings these experiences back to campus for her senior year. While managing multiple jobs and roles alongside her studies, she maintains a high GPA, and she earned the David Warren Scholars with High Distinction Award from the political science department.
Her international research was made possible by the Voyager Scholarship, and her enrollment at URI has benefitted from philanthropic giving, including an arts and sciences fellowship, RhodyNow: Scholarship, and others.
As a public university, URI welcomes students who work hard to make their own path. Such non-traditional routes to a degree are the result of a strong work ethic and keen insight, and they often lead to the kinds of careers and discoveries that will make a difference for many others.
“In addition to administrative work, I taught English classes and ran workshops, but what I enjoyed most was shadowing the professionals at these organizations, my ‘coworkers.’
– JASMIN VALDIVIESO SANCHES
URI a Top 10 MilitaryFriendly School
The University maintains a long history of welcoming and supporting military students and veterans across all branches of the armed services. This year, we improved upon our gold rating from the Military Friendly Schools list to earn top-10 status.
Among 1,800 schools participating in the most recent survey, approximately 660 earned the Military Friendly designation, putting URI in the top 2 percent. The survey makes a comprehensive review of University efforts to serve military and veteran students, taking into account student retention, graduation, job placement, loan repayment, persistence, and loan default rates.
“The Top Ten rating is recognition that University leadership, students, staff, and faculty have doubled down on their commitment to veterans and military-connected students,” said Bob Flynn, director of URI’s Center for Military and Veteran Education. “Additionally, our alumni have recognized these efforts and are supporting our veteran students with financial aid.”
Propelling Ocean Research
Alumni couple makes a splash with $1 million gift
Lauren Baker-Hart ’81, P’18, and Jay C. Hart ’82, M.B.A. ’85, P’18 established the Hart Family Faculty Fund in Ocean Engineering through a $1 million gift to the College of Engineering to attract and retain top-tier faculty, support graduate students, and drive new research.
This ambitious gift highlights URI’s role as a leader in the blue economy, where multiple fields come together to advance environmental sustainability and economic growth in marine affairs.
“We saw this as a way to contribute to a topic that matters to individuals and communities around the world,” said Lauren. “We are confident in our university’s track record and in its potential to continue making important breakthroughs.”
They have committed an additional $250,000 to RhodyNow for immediate needs, divided evenly between the College of Business and the College of Engineering. The Harts’ gift reflects their academic roots, with Lauren as
an engineering alumna and Jay holding both undergraduate and graduate degrees from the College of Business.
“We wanted to give a boost to URI’s research in an area that we believe in,” said Jay, “and at the same time, we know how important it is for the colleges to have flexibility with immediate-use funds. The University’s advances in ocean science are truly impressive, and I look forward to seeing how far they can go.”
Lauren Baker-Hart enjoyed a 40-year career as a civil engineer, and Jay Hart is a managing partner of CrossHarbor Capital Partners. The Harts are actively involved alumni. Lauren is a member of the Women’s Philanthropy Circle and the URI Foundation & Alumni Engagement Development Committee, and Jay is a member of the URI Foundation & Alumni Engagement Investment Committee and Board of Directors.
–LAUREN BAKER-HART ’81, P’18 “
We saw this as a way to contribute to a topic that matters to individuals and communities around the world.
Among the Nation’s Best
In spring ’24, URI continued to stand out in the applicant pool for the nation’s most prestigious undergraduate scholarship in the marine and atmospheric sciences. Six Rams earned the National Oceanic and Atmospheric Administration (NOAA) Ernest F. Hollings Undergraduate Scholarship this year, continuing a 16-year run of recipients for URI and bringing the total to 48 students.
The Hollings Scholarship provides funding for tuition and a paid summer internship at a NOAA facility. The scholars conduct research and present their work at NOAA’s national headquarters and at academic conferences.
This year’s URI recipients are:
• Mary Brantley, a member of the Honors Program majoring in marine biology
• Grace Dandeneau, a major in marine biology and animal science
• Alec Duffy, a marine biology major
• Grace First, a marine biology major
• Nicole Kobasa, a member of the Honors Program majoring in marine biology
• Brooklyn Mitchell, a major in marine biology and wildlife and conservation biology
Changes and Changemakers for URI Honors Program
Experiential learning and a new scholarship help students take on real issues
Students in Planet Honors, a new URI Honors Program foundation course, start by exploring the North Woods at the edge of campus. This hyperlocal perspective helps them connect community issues with more complex global ones—which equips them with skills to become changemakers who tackle today’s global problems.
A NEW DIRECTION FOR THE HONORS PROGRAM
Students in the Planet Honors class return from the North Woods to take on topics such as microplastics in Narragansett Bay and food waste and food insecurity. This focus on problem solving and change is part of a new strategic direction.
In 2023, the program conducted a selfstudy and brought in external reviewers for an assessment by the National Collegiate Honors Council, which cited several strengths of the program. The team is in the process of laying out a new direction that would provide more structured support for all of the program’s components.
In addition to honors courses, the Honors Program helps students secure prestigious fellowships through the Office of National Fellowships and Academic Opportunities. It also hosts the Honors Colloquium, a lecture series that examines a social issue in depth each fall.
“We want to cultivate collaboration,” said Honors Program Director Karen de Bruin. “These are serious issues we’re examining. The point is not to scare students, but to empower students with hope and the basic tools they need to be changemakers in the world.”
A NEW SCHOLARSHIP TO BRING TALENT TO NONPROFITS
The Horace A. and S. Ella Kimball Foundation recognized the potential of Honors Program students to contribute to their communities. In spring 2024, the Kimball Foundation made a $100,000 gift to establish the Thomas F. Black Jr. Scholarship to support a junior in the Honors Program who takes an interest in the nonprofit sector. The recipient must be a Rhode Island resident with financial need.
The Kimball Foundation, once led by Thomas F. Black, Jr. and now by Thomas F. Black III ’62, has worked with hundreds of nonprofit organizations for almost 75 years and has seen firsthand the importance of strong leadership. This new scholarship, a fitting memorial to the Black family’s leadership of the Kimball Foundation, aims to encourage future generations to contribute their talents to the nonprofit sector.
“Honors students are creative thinkers and problem solvers,” says de Bruin. “Their innate curiosity is something the world needs, and we want to cultivate that here, giving students a problem-solving tool kit they can take out into the community to be part of solutions.”
Of Mice and Microplastics
Faculty-led research explores the effects of microplastics in mammals
Microplastics are infiltrating news headlines as much as they’re infiltrating ecological and biological systems. While scientists across disciplines are working to understand their impact, few have looked directly at the health effects of microplastics in mammals. Jamie Ross, assistant professor for both the College of Pharmacy and the George and Anne Ryan Institute for Neuroscience, is among the first.
Ross and her research team examined the accumulation of microplastics in mice, and found that the particles made their way into every organ in the body. Perhaps more striking, their presence seemed to cause biological and behavioral changes.
“In only a short period of time, we saw these changes,” Ross said. “Nobody really understands the life cycle of these microplastics in the body, so part of what we want to address is the question of what happens as you get older. Are you more susceptible to systemic inflammation from these microplastics as you age? Can your body get rid of them as easily?
Do your cells respond differently to these toxins?”
Her team includes Research Assistant Professor Giuseppe Coppotelli, biomedical and pharmaceutical sciences graduate student Lauren Gaspar, and Interdisciplinary Neuroscience Program graduate student Sydney Bartman. Support for the work has come from a variety of sources. Along with the Ryan Institute, created by a philanthropic gift from Thomas M. Ryan ’75, Hon. ’99 and Cathy Ryan, other groups include Rhode Island Medical Research Foundation, Roddy Foundation, Plastics Initiative, and the Rhode Island Institutional Development Award
(IDeA) Network of Biomedical Research Excellence.
The study from Ross and her team appears in the International Journal of Molecular Science. Their work is a significant early step, but the effort to fully understand how microplastics cycle through and affect the body continues.
As we learn more about these pollutants, the importance of the research only increases. With the Ryan Institute attracting top researchers and the Interdisciplinary Neuroscience Program providing a pipeline of talented students, URI is uniquely positioned to play a leading role in addressing this crucial topic.
Need for Nurses
A scholarship to provide encouragement in addition to financial assistance
For engineering graduate
John H. Visneuski ’70, the pandemic highlighted the critical need for qualified nurses and inspired him to establish the John H. Visneuski Master/Doctor of Nursing Practice Scholarship. Based on academic merit and financial need, qualified students who might otherwise not have been able to further their education will be able to stay enrolled.
“Nurses have risks associated with their job that are not always appreciated, and they must make personal sacrifices,” Visneuski said. “Those things came through clearly during COVID that were kind of hidden from the average person.”
While his URI degree led to a career as an engineer with the Naval Undersea Warfare Center, Visneuski has always had great respect for nursing. His mother was a nurse at the Providence Lying-In Hospital, now known as Women & Infants Hospital. Initially considering a gift to benefit undergraduate students, he realized that a scholarship for graduate students would make the most impact.
“I’ve learned that scholarship assistance seems to help the student disproportionally to the dollar amount,” said Visneuski. “It’s not just the money, it’s also the encouragement, the vote of confidence and maybe an ego boost that comes along with it.”
With this scholarship, Visneuski adds to a long history of giving to URI, including the John H. Visneuski Biomedical Engineering Scholarship, the John H. Visneuski Biomedical
Teaching Lab, and gifts to RhodyNow: Engineering and the URI Society of Women Engineers.
As the demand for practicing nurses grows, this scholarship helps URI address a critical need felt in communities around the world. It also lends momentum to the College of Nursing’s concerted effort to expand its capacity to improve health care, education, and research.
A Ram in Paris
Head Women’s Basketball Coach
Tammi Reiss brought home some new hardware to add to the A-10 trophy she has won at URI. Reiss won a bronze medal as assistant coach of the women’s 3x3 basketball team at the 2024 Summer Olympics in Paris. Working with the team’s head coach, Jennifer Rizzotti of the WNBA’s Connecticut Sun, Reiss and the team capped off an international run of games through qualifiers and into the medal round, where they defeated Canada.
Reiss has led the URI women’s team to record numbers of wins, a conference regular season championship, and consecutive postseason appearances. With the new Soloviev Basketball Practice Facility to enhance training for the team and a new experience to add to her impressive résumé, Reiss looks to continue to break records for URI basketball.
Part of Something Big
Football
alum gift combines with state support to propel URI’s
athletic ambitions
Last fall, the University launched a major initiative to enhance athletics facilities and advance championship-caliber programs. A $1 million gift made by Thomas J. Drury ’74 and Catherine F. Drury early on has given the initiative a major boost.
This gift will complement the $65.8 million in Rhode Island Capital Plan funding included in Gov. Dan McKee’s 2024 state budget and approved by the General Assembly. After seeing the support from the state, Drury recognized an opportunity to give back to the University in a meaningful way.
“We saw this as an opportunity to be part of something big,” said Drury. “We want to help URI student-athletes get ahead, and this moment of support from the state and focused attention from other alumni seemed like just the right time. We need to show the world of college athletics what URI can do.”
Drury was an accounting major at URI and earned an M.B.A. at the University of Wisconsin. It’s unsurprising that Drury made one of the first major gifts to this initiative; as the founder and former chief executive officer of Hydrofera, LLC, a company that develops and sells advanced wound dressings
that stimulate healing, he is used to being a leader. Now retired, he has stayed connected to the University by volunteering his time.
“In the early days of my career, we didn’t have the money to give back, so I volunteered my time,” said Drury. “I’ve been doing that for years, and I’ve seen how being an athlete gives students a competitive edge that helps them excel long after they graduate.”
This fundraising initiative will revitalize URI facilities, including Meade Stadium, the Tootell Aquatic Center, Bill Beck Field for baseball, the URI Softball Complex, and the soccer complex, as well as fund the construction of an outdoor track and field facility.
Sailing to Success
New coach to extend tradition of racing and academic excellence
Almost 90 years ago, URI’s sailing program hoisted its sails, and it’s been a beloved part of our university ever since. The URI Sailing team has a strong tradition of competitive excellence and a rich history that includes 26 All-Americans, several Olympians, and America’s Cup Sailors.
Excelling both on the water and in the classroom, the team has become a point of pride for the University. They consistently place in the top 5 regattas throughout the season and have qualified for nationals several times. The Inter-Collegiate Sailing Association (ICSA) All-Academic Sailing Team has recognized multiple members for maintaining a cumulative GPA of 3.3 or higher each year.
Undergoing a recent transformation, the program welcomed Joakim Karlsen as the new head coach. Karlsen earned the New England Inter-collegiate Sailing Association Coach of the Year award out of 36 coaches in the division, despite taking over as interim coach just two weeks before the season last fall.
“I couldn’t be more excited about staying with the Rhody Rams!” said Karlsen. “We are at an exciting point for our sailing team, and I’m confident we will take further steps and make some
real waves in college sailing. My goal is to have our athletes perform at the highest level and be the best version of themselves that they can be.”
A native of Norway, Karlsen is an accomplished dinghy sailor, having participated in several Norwegian, European, and world championships. Before URI, Karlsen held a variety of coaching roles at Sail Newport, St. George’s School, the United States Optimist Dinghy Association, and New Bedford Yacht Club. By bringing his years of experience as a sailor and a coach to URI, the team is poised to reach new heights.
Sailing Star Makes Waves
Okyanus Arikan ’26, a kinesiology major, has sailed for Turkey’s Olympic team and competed in the Inter-Collegiate Sailing Association’s national championship for URI.
Her passion for the sport drives her to train hard and perform to the best of her abilities. Arikan’s wide range of experience on the Providence River in Cranston, the Salt Pond in Narragansett and South Kingstown, Lake Pontchartrain in New Orleans, all over Turkey and in other countries lends her an adaptability uniquely suited for competing on the world stage.
“I want to continue sailing after I graduate,” Arikan said. “I have a deep passion and love for the sport and tremendous support from my family and friends. My dream is to compete in national competitions and the Olympics for many years to come.”
HEALTH STUDIES PROFESSOR AWARDED FOR NEW TEACHING TOOLBOX
Associate Professor of Health Studies Natalie Sabik has been honored with the Innovative Teaching Award from the Society for the Psychological Study of Social Issues. Sabik was recognized for her use of the Intersectionality Toolbox, an analytical framework to understand how cultural and social factors contribute to psychological and physical health outcomes. Her research aims to understand the unique experiences people face when dealing with complex public health issues. “An intersectional approach in public health is critical for research and teaching to illuminate health disparities and the underlying structures that create and maintain disparities,” said Sabik.
17,464 undergraduate and graduate students enrolled
6,500 students engage annually in experiential learning
AMONG THE WORLD’S TOP RESEARCHERS
Professor of Literacy Education Julie Coiro was named to Stanford University’s Top 2% Scientist Rankings as one of the world’s leading researchers in the field of education. Coiro conducts research in online reading comprehension, collaborative inquiry, and digital assessment spaces to measure skills and student achievement. As the director of URI’s graduate certificate program in digital literacy, Coiro has worked with over 1,000 educators to support research that improves understanding of learning comprehension.
SMALL AND MIGHTY INNOVATIONS
College of Pharmacy Associate Professor Jyothi Menon is working on developing nanoparticles that will create more efficient targeted treatments for chronic liver disease and common cancers. The small and mighty innovation aims to overcome barriers to treatment through revolutionary preventative interventions. The National Institutes of Health National Cancer Institute supports Menon’s research, which will be included as part of a wide database of cancer studies.
$35.83M in new commitments for FY24
8,660 donors in FY24
NURSING PROFESSOR EARNS FELLOWSHIP TO ADVANCE CANCER RESEARCH
The prestigious Betty Irene Moore Fellowship for Nurse Leaders and Innovators inducted College of Nursing Assistant Professor Erica Liebermann into its fifth cohort. As one of just 16 professors in the country chosen, Liebermann will receive funding for research on improving cervical cancer screening and follow-up care in Rhode Island. The fellowship recognizes nursing innovators with high potential to accelerate leadership in research, practice, education, policy, and entrepreneurship. Liebermann hopes to advance progress toward eliminating cervical cancer in the state and beyond.
COLLEGE OF PHARMACY CONTINUES ITS RISE
In 2024, the College of Pharmacy earned its highest ranking to-date, coming in at 31 among the 141 pharmacy colleges in the United States. The Pharm.D. program has the highest first-year residency placement rate in New England, and the College garners critical research funding as its national and global standing rises. “This ranking reflects our commitment to educational excellence, impactful research, and service to community health,” said Dean Kerry LaPlante.
2,148 first-time donors in FY24
$2.7M to RhodyNow for immediate use
THE WINNINGEST COACH IN RHODY HISTORY
Joe Augustine, head coach of URI Men’s Club Hockey, broke records in Kingston for amassing 713 wins during his 34-year tenure at URI—making him the winningest coach in URI history. Family, friends, players, alumni, and members of the community honored Augustine and celebrated his constant drive for excellence and victories. “He’s not only a great coach, excellent mentor, and true friend, he is a wonderful human being,” said URI President Marc Parlange. Augustine is still tallying wins, with no end in sight.
BUSINESS STUDENTS COMPETE FOR SUSTAINABLE SOLUTIONS
College of Business students Jose Gonzalez ’24 (not pictured), Maya Casagrande ’25, Noah Blake ’25, and Emily Tingley ’24 were among the top finishers in the Global Sustainability Supply Chain Case Competition. Taking home the gold and bronze in their respective categories, they worked with different hypothetical case studies, taking skills learned in the classroom and applying them to real-world problems. Sponsored by the United Nations Group of Friends for Sustainable Transport, the competition attracted 250 students from over 30 universities around the world to address global supply chain challenges and propose sustainable solutions.
$6.5M corporation and foundation gifts in FY24
$824M statewide economic activity generated by URI
BOOSTING BRAIN EDUCATION
Thanks to a grant from The Champlin Foundation, a neurolearning center will be established on the Kingston campus to enhance research and education in multiple health disciplines. Students and faculty from departments across the University will have access to cutting-edge equipment to advance understanding of neuroscience and brain-related functions. Through a collaborative and interdisciplinary approach, the center will create hands-on learning to promote discovery and innovation.
The URI Endowment
The cornerstone of private giving
The endowment provides dependable and perpetual funding to support students, faculty, programs, and facilities across URI. More than 1,250 funds are invested with a long-term strategy to enhance the principal value of the endowment and earn returns that will support the areas of greatest importance to our alumni and friends.
The endowment spending rate that will be applied in the 2024–2025 academic year is 5.05 percent, which contains both the University distribution and the URIFAE administrative fee. The University payout remained the same at 3.6 percent of the market value of the endowment (calculated on a 12-quarter rolling average ending on
December 31, 2023). The advancement fee remained the same at 1.45 percent. The dollar value of the payout to the University to support gift purposes this year will increase from $7 million to $7.5 million.
As of June 30, 2024, the endowment portfolio had a market value of $237 million. The URIFAE Board of Directors, in concert with its Investment Committee, is working diligently to enhance the management of the fund to maximize returns while maintaining appropriate risk and liquidity parameters. The facing page shows the market value and payout impact for each of the past five years.
ASSET ALLOCATION as of June 30, 2024
ANNUALIZED RETURN ON INVESTMENT
The annualized return on URI’s general endowment portfolio as of June 30, 2024 was 12.2 percent. The returns for the past five years are shown below.
ANNUAL ENDOWMENT PAYOUT
The following graph represents the total amount of endowmentgenerated funds distributed to URI each fiscal year, based on URIFAE’s spending policy, for use over five academic years.
$12.0
$10.0
$8.0
The annual payout figure is based on a rolling 3-year average using 12/31 values.
PORTFOLIO VALUE
As of June 30, 2024, the University of Rhode Island’s endowment portfolio had a market value of $237 million. The market value for each of the past five years on June 30 is represented below.
$225
$200
$175
$150
$125
$100
$75
$50
$0
TOTAL ASSETS: Total assets represented on this chart include the value of cash, investments (including the endowment portfolio), furniture, equipment, receivables, and other items of value.
A message from Michael Ice Chair, Investment Committee
The Investment Committee for the University of Rhode Island Foundation & Alumni Engagement is very pleased to announce that we ended FY24 on June 30 with the endowment peaking at a record $237 million. The one-year increase of 12.2 percent is due in large part to strong returns in U.S. and global equities and the generosity of alumni, parents, friends, corporations, and foundations who contributed over the year.
This new high mark coincides with the very successful conclusion of Big Ideas. Bold Plans. The Campaign for the University of Rhode Island. The campaign raised $303.6 million for students, faculty, research, operations, and strategic opportunities. The Investment Committee maintains a thoughtful portfolio management strategy to support the University’s short-term and long-range goals, recognizing that reliable endowment funds are essential to sustain and expand URI’s ambitions.
In June, the URIFAE Board of Directors voted on a distribution of 5.05 percent to the University, taking into account the performance of the portfolio and the needs of the University. The distribution value reflects that rate.
URIFAE is committed to supporting the 10-year strategic plan for URI and continuing to build a stronger Rhody community. Your generosity inspires student success, innovative thinking, and multi-disciplinary research.
Fundraising Highlights
Fiscal Year 2024
Alumni, parents, and friends committed more than $35 million to the University of Rhode Island during fiscal year 2024, including new pledges, outright gifts, new planned gifts, and matching gifts. This generous support contributed to enhanced funding for student access, faculty leadership, innovative and distinctive academic programs, strategic opportunities, and the overall learning experience at URI.
In all, nearly 9,300 individuals and organizations contributed. Approximately 40 percent of the gift total came from alumni, while parents, corporations, foundations, and others also supported the University.
First-time donors totaled 2,148. New contributors are an important segment that will continue to be a priority as URIFAE works to increase participation. Every gift, at every level, matters.
All of these commitments pushed URI past the $300 million goal of Big Ideas. Bold Plans. The Campaign for the University of Rhode Island, which has driven significant improvements across the University and will continue to fuel bold plans in the future.
$35.83M
Financial Report
Fiscal years ending June 30, 2023 and
Ways to Give
You can choose to support the students in greatest need, scholarships and fellowships, innovative faculty research, URI Athletics or club sports, or any of the work going on across the University that matters to you.
Development officers are available to discuss aligning your philanthropic goals with University initiatives. You may choose to make an outright gift of cash, securities, or other property to support specific areas of interest. A pledge enables you to make a gift over a period of time (generally up to five years).
Endowed gifts can be named for yourself, your family, a friend, or a mentor and will provide perpetual funding to the area of your choice. With a gift to RhodyNow, you offer the University flexibility to invest in emerging opportunities and address needs. These gifts enhance the overall URI experience, provide critical financial aid, improve academic programs, and much more.
Gifts through your will are an investment in future generations of students. Depending on your individual situation, there are a variety of options that can provide you with income, offer a tax deduction, or eliminate or reduce capital gains taxes.
Please contact us at 401.874.7900 or foundation@uri.edu to discuss your area of interest.
Financial Report
Fiscal years ending June 30, 2023 and 2024
The accompanying financial statements have been audited by an external audit firm.
Published by URI Foundation & Alumni Engagement
Lil Breul O’Rourke, President Austen Farrell, Chief Marketing Officer
Sandra Kenney, Director of Development Communications
The URI Foundation & Alumni Engagement aspires to be a leader in support of the University of Rhode Island’s pursuit of excellence. The mission of the organization is to inspire and steward philanthropic support benefiting URI and to inform and engage alumni as committed partners of the University, its mission, and traditions. In all its activities, URIFAE strives for core values of transparency, integrity, collaboration, accountability, and respect. alumni.uri.edu 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 URI Foundation & Alumni Engagement, P.O. Box 1700, Kingston, RI 02881. You may also make a secure gift at uri.edu/give.
