Kent State University 2014 Generosity Report

KENT STATE UNIVERSITY FOUNDATION

2014 ANNUAL REPORT

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FOUNDATIONS of EXCELLENCE B UI L DI NG TH E F U TU RE

PROPOSED DESIGN FOR THE CENTER FOR ARCHITECTURE AND ENVIRONMENTAL DESIGN

© 2014 Kent State University Foundation

KENT STATE UNIVERSITY FOUNDATION

2014 ANNUAL REPORT

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A NEW DAY A FIRM FOUNDATION FOR THE FUTURE

TO KENT STATE

A NEW DAY Although I have only been here for a short time, there are many reasons why I believe Kent State is such an amazing place, and one reason is certainly the Kent State community that provides the vital private support for our students. Our donors are funding hundreds of student scholarships, much needed capital improvements and cutting-edge research, at a time when state funding for higher education is more limited than ever. Your private support is critical if we are to reach our greatest potential.

Our university is on an upward trajectory and our future is filled with promise. I am confident that we will continue to gain momentum. Our enrollment is higher than ever and has been growing for eight consecutive years. But with bigger, must come better, and we continue to ensure that students have the tools they need to be successful so that we can retain them on campus from year to year.

And while our feet will always be planted firmly in Northeast Ohio, I know with continued private support we can expand our reach and deliver the impact of a Kent State University degree across the country and around the globe!

It is an honor to serve as Kent State’s 12th president and I am so proud of our stellar programs, our ambitious students, our dedicated faculty and staff and our generous donors. Thank you for your continued support of this amazing university.

Our future is brighter than ever…thanks to you!

Beverly J. Warren President, Kent State University

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© 2014 Kent State University Foundation

KENT STATE UNIVERSITY FOUNDATION

2014 ANNUAL REPORT

WELCOME

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A NEW DAY A FIRM FOUNDATION FOR THE FUTURE

TO KENT STATE

A FIRM FOUNDATION FOR THE FUTURE Whether it is an 18-year-old freshman still exploring the possibilities, or a returning veteran eager for achievement in civilian life, your support, stewarded by the Kent State University Foundation, makes possible scholarships, capital projects, faculty research and experiential learning opportunities for our students.

Gifts to the Foundation are an investment in talent and our future workforce and leaders of tomorrow. Your support helps us maintain the university as a vibrant force in the greater community — it exemplifies your commitment to Kent State and to the educational opportunities offered to students, and ensures that they will have access to all the tools necessary to be successful.

For nearly 50 years, the Foundation has been the philanthropic heart of Kent State, and you are our most important partner, helping to move us forward by providing leadership support to the university and its mission.

Your gifts make a difference. Thank you.

Lawrence R. Armstrong Chair, Kent State University Foundation Board of Directors

© 2014 Kent State University Foundation

KENT STATE UNIVERSITY FOUNDATION

2014 ANNUAL REPORT

WELCOME

MILESTONES FOR THE NEXT CENTURY

STUDENT SCHOLARS

FINANCIALS

LEADERSHIP

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MILESTONES FOR THE NEXT CENTURY

TO KENT STATE

FOUNDATIONS OF EXCELLENCE – BUILDING THE FUTURE The momentum of one of the most transformative periods in Kent State’s history is in high gear thanks to the Foundations of Excellence initiative. The construction of new buildings, facility upgrades and the establishment of dynamic, new spaces are all in progress with the goal of creating the most outstanding academic experience for students, faculty, staff and alumni and the greater community enriched by this institution.

The university is a dynamic force and our physical facilities are growing to accommodate larger enrollments, as well as institutional goals. Building a better campus also helps Kent State remain competitive in the highereducation market by attracting high-quality students and experienced faculty, as well as funds for vital research.

With your help, Foundations of Excellence is creating more than just brick and mortar facilities, it’s transforming our campuses into state-of-the-art academic environments to meet the needs and expectations of the 21st-century student, and beyond.

Your support of this important initiative has provided: $6.6 million for the College of Architecture and Environmental Design $600,000 for the newly renovated Center for the Visual Arts $109,000 for the new building for the College of Applied Engineering and Sustainable Technology Thank you!

© 2014 Kent State University Foundation

KENT STATE UNIVERSITY FOUNDATION

2014 ANNUAL REPORT

WELCOME

MILESTONES FOR THE NEXT CENTURY

STUDENT SCHOLARS

FINANCIALS

LEADERSHIP

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MILESTONES FOR THE NEXT CENTURY

TO KENT STATE

ENSURING MORE BRIGHT FUTURES THROUGH SCHOLARSHIPS The single largest obstacle to student success is the financial aspect of their education. And the best tools we have to combat those financial challenges are scholarships, which are a key focus of our fundraising efforts. The need for private support continues to grow, as enrollments increase and state support dwindles.

The gift of knowledge is priceless, and the lack of financial resources shouldn’t hinder its acquisition. Education is an investment in the future of our society, and scholarships fuel the engine that moves us forward.

There are so many ways to make an impact: with need-based, merit-based or talent-based scholarships; education abroad grants and graduate fellowships; as well as athletic scholarships. There are also many ways to give: endowed named funds that grow over time; spendable award funds that provide steady support; or planned gifts that help meet long-term needs. Each one can make a real difference in a student’s life and their future.

© 2014 Kent State University Foundation

KENT STATE UNIVERSITY FOUNDATION

2014 ANNUAL REPORT

STUDENT SCHOLARS

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MEGAN DENMAN ANDREW CAPPUZZELLO CAMPBELL E. GARTH

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MEGAN DENMAN Making a college education affordable is vital. So vital, in fact, the students of Kent State University support each other in attaining their goals.

The FLASHanthropy student organization was established in 2006 and is comprised of dedicated Kent State undergraduates committed to introducing the concept of philanthropy to their fellow students. One of FLASHanthropy’s main goals is to help students understand that together, “small” contributions can equal big results.

Through FLASHanthropy, hundreds of students have contributed to raise funds for Kent State affiliated groups.

This money has also been used to create and endow the Pay It Flash Forward Scholarship. This bi-annual student scholarship is awarded to an outstanding student who demonstrates, through an essay, the importance of philanthropy in their life and for others.

Megan Denman is one of those special students who has received the Pay It Flash Forward Scholarship.

Majoring in Integrated Health Studies with a minor in Psychology and Biological Sciences, Megan anticipates graduating in spring 2015. But she won’t stop there.

“Because I plan to continue on to medical school, money is a big issue for me,” Megan said. “This scholarship has really helped lessen that financial burden.”

While all scholarships are impactful and help lessen the financial burden for students, the Pay It Flash Forward Scholarship – one awarded to her by her peers – is particularly meaningful to Megan.

“This scholarship means a lot to me because for the most part, the money to fund it comes directly from the student body,” Megan said. “It’s like my peers have chosen me as the one they want to support. It really means a lot.”

© 2014 Kent State University Foundation

KENT STATE UNIVERSITY FOUNDATION

2014 ANNUAL REPORT

STUDENT SCHOLARS

WELCOME

MILESTONES FOR THE NEXT CENTURY

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MEGAN DENMAN ANDREW CAPPUZZELLO CAMPBELL E. GARTH

TO KENT STATE

ANDREW CAPPUZZELLO While much has changed since Kent State was founded as a teacher-training school in 1910, one thing that remains the same is the university’s commitment to producing top-notch, capable educators who have a true passion for teaching. It is this reputation that led Andrew Cappuzzello to choose Kent State’s Adolescent and Young Adult Education program.

“Kent State was the first school I visited, and I immediately canceled the other college visits I had scheduled,” Andrew recalls with a chuckle. “I liked the atmosphere on campus right away, and I liked that education students get to be involved early on with actual classroom and tutoring experiences.”

Andrew is completing a field placement requirement for the Principles of Teaching course. Placed in an urban school environment, he has the opportunity to observe classes and teaching techniques in exchange for one-on-one tutoring sessions with struggling students. The experience has solidified his desire to become a math teacher.

“My philosophy on life is that we’re all in this together. I enjoy helping other people and, through teaching, I hope I can be an inspiration to the students I’m working with,” he says. “I love that Kent State offers such a hands-on program.”

Andrew is currently president of FLASHanthropy, the student philanthropic organization, and an intern in Annual Giving.

Andrew has been the recipient of two scholarships so far at Kent State: the Trustee Scholarship and the Choose Ohio First Scholarship. He is extremely grateful for the support. “These scholarships have greatly impacted my academic career and personal life because they have freed me from the worry about paying for school or where I would be able to live,” he says.

“They helped ease those burdens and allowed me to dive deeper into my studies and other involvements on campus.

Because I was so fortunate to receive these scholarships, I wanted to return the favor to my fellow students. That’s how I found my job at the Kent State Phone Center my freshman year, and I have been in love with fundraising and philanthropy ever since.” Andrew is a student supervisor in the Phone Center, where he speaks daily with alumni and encourages them to support the university he loves.

When he’s not molding young minds in the classroom, Andrew also volunteers his time serving as a member of the Undergraduate Student Government Programming Board, where he helps to organize concerts, speakers and events on campus.

“I really feel like Kent State is stepping into new possibilities right now,” he says. “There has been so much development on campus in the past few years, and you can feel the excitement building. I like talking to alumni – especially teachers – about where Kent State is now and where we’re going in the future.”

© 2014 Kent State University Foundation

KENT STATE UNIVERSITY FOUNDATION

2014 ANNUAL REPORT

STUDENT SCHOLARS

WELCOME

MILESTONES FOR THE NEXT CENTURY

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MEGAN DENMAN ANDREW CAPPUZZELLO CAMPBELL E. GARTH

TO KENT STATE

CAMPBELL E. GARTH In her junior year in high school, Campbell Garth took a course in American Sign Language (ASL) and fell in love. “I knew right then I wanted to be an interpreter, and when I checked out college programs, Kent’s stood out,” she says.

Campbell is now a junior majoring in special education at Kent State and plans to become an interpreter in an elementary school. Many hearing-impaired children are now main streamed and interpreters are needed in the public school system.

Says Campbell, “I was originally thinking about community interpreting (for adults) but now I want to work with kids because I know how important it is to give them a head start. Sometimes children just really need a good boost. My own dad was a first generation college student, and he had a mentor who encouraged him to pursue an education and really changed his life. He didn’t believe in himself, but his mentor supported him and helped him get his grades up. When he applied to college, he got in.”

Campbell is a two-time recipient of the Ausfahl Medallion Scholarship, supported by Trudy and Bill Ausfahl. Although they now reside in California, Trudy is a graduate of Kent State, and she and her husband have traveled back to Ohio to meet with Campbell.

“The Ausfahls are such wonderful people,” Campbell says. “They really taught me how important it is to give back in any way – whether it’s money or time or effort. Their giving to me has really affected my future. It’s incredible how much support they’re willing to give me, financially and emotionally – to help me see what’s important in life.”

Scholarships are an investment in the future that pays off in many ways. Just ask Campbell Garth. “The fact that the Ausfahls believed in me, even before they met me, means the world to me. I hope to make a big difference in the field of education, and to continue to achieve and follow my dreams.”

© 2014 Kent State University Foundation

KENT STATE UNIVERSITY FOUNDATION

2014 ANNUAL REPORT

FINANCIALS

ASSETS & DISBURSEMENTS STATEMENTS OF FINANCIAL POSITION STATEMENT OF ACTIVITIES 2014 STATEMENT OF ACTIVITIES 2013

WELCOME

MILESTONES FOR THE NEXT CENTURY

FINANCIALS

STUDENT SCHOLARS

LEADERSHIP

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ASSETS AND DISBURSEMENTS 2013 – 2014 FISCAL YEAR

TO KENT STATE

FOUNDATION ASSETS IN MILLIONS, FOR FISCAL YEAR 2013 – 2014 2010

124.6

140.4

2011

90.4 136.7

2012

2012

85.3 163.5

2013

94.6 174.2

2014

110.9

FOUNDATION SUPPORT TO KENT STATE IN MILLIONS, FOR FISCAL YEAR 2013 – 2014 2010

76.7

2011

DONATE

2013

2014

15.2 2.3 14.0 2.8 10.2 3.1 10.5 3.1 8.7 2.9

TOTAL ASSETS

GRANTS TO KENT STATE UNIVERSITY

ENDOWED ASSETS

SCHOLARSHIPS AWARDED

© 2014 Kent State University Foundation

KENT STATE UNIVERSITY FOUNDATION

2014 ANNUAL REPORT

FINANCIALS

ASSETS & DISBURSEMENTS STATEMENTS OF FINANCIAL POSITION STATEMENT OF ACTIVITIES 2014 STATEMENT OF ACTIVITIES 2013

WELCOME

MILESTONES FOR THE NEXT CENTURY

STUDENT SCHOLARS

FINANCIALS

Beneficial interest in trusts held by others Notes receivable Property, net of depreciation

LIABILITIES AND NET ASSETS Liabilities

Accounts payable

Line of credit borrowings

Funds held for others

Actuarial liabilities Annuities Charitable remainder trusts

Net assets

Unrestricted

Temporarily restricted

Permanently restricted

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STATEMENTS OF FINANCIAL POSITION JUNE 30, 2014 AND 2013 ASSETS Cash and cash equivalents Receivables

Pledges

Interest on notes receivable

Investments

Long-term pool

Charitable remainder trusts

Annuity pool

Short-term pool

Other

LEADERSHIP

TO KENT STATE

2014 $ 1,594,579

2013 $ 1,309,370

8,522,683 132,396 8,655,079

11,104,445 — 11,104,445

138,095,169 6,330,534 3,240,040 11,974 — 147,677,717

125,846,251 5,708,428 — 3,407,205 1,000 134,962,884

355,927 14,426,108 1,506,448 $ 174,215,858

383,639 14,076,614 1,681,448 $ 163,518,400

$ 88,435 — 9,003,091

97,983 10,000,000 8,600,757

2,063,941 2,609,396 13,764,863

2,321,670 2,527,070 23,547,480

10,229,182 113,388,802 36,833,011 160,450,995 $ 174,215,858

6,877,557 99,584,064 33,509,299 139,970.920 $ 163,518,40

© 2014 Kent State University Foundation

KENT STATE UNIVERSITY FOUNDATION

2014 ANNUAL REPORT

FINANCIALS

WELCOME

MILESTONES FOR THE NEXT CENTURY

STUDENT SCHOLARS

LEADERSHIP

Revenue and Support Gifts

Cash and securities

Events and other

Net change in pledges receivable

Losses on pledges receivable

Investment income

Interest and dividends

Investment gains and losses

Investment in Hotel and Conference Center

Investment income allocated to other

beneficiaries of funds held for others

Restricted Temporarily Permanently

TO KENT STATE

Total

$ 70,632 $ 10,407,273 $ 2,508,303 $ 12,986,208 — 534,759 25,000 559,759 (2,165) (836,313) (7,320) (845,798) 68,467 10,105,719 2,525,983 12,700,169 (22,306) (1,609,251) (104,406) (1,735,963) 46,161 8,496,468 2,421,577 10,964,206 371,616 3,333,571 495,611

1,849,240 16,745,365 —

— — —

2,220,856 20,078,936 495,611

— 4,200,798

(1,291,964) 17,302,641

— —

(1,291,964) 21,503,439

145 10,445 —

— (392,704) 23,518

— 382,259 519,876

145 — 543,394

1,399,715 4,339,136 5,886,334 11,625,185 15,882,734

(1,399,715) (4,339,136) (5,886,334) (11,625,185) 13,804,738

— — — — 3,323,712

— — — — 33,011,184

7,698,043 669,828 1,820,689 1,513,864 11,702,424 828,685 12,531,109

— — — — — — —

— — — — — — —

7,698,043 669,828 1,820,689 1,513,864 11,702,424 828,685 12,531,109

Change in net assets

3,351,625

13,804,738

3,323,712

20,480,075

Net assets at beginning of year

6,877,557

99,584,064

33,509,299

139,970,920

$ 10,229,182

$ 113,388,802

$ 36,833,011

$ 160,450,995

Sales, services, events, and other Changes in designation of prior contributions Change in actuarial liabilities Release of restrictions Investment pool operator fee Endowment spending distributions Other support for Kent State University Total release of restrictions

Expenses and losses Grants to Kent State University

Academics

Athletics

WKSU

Fundraising

Administration

Net assets at end of year

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GIVE

STATEMENTS OF ACTIVITIES YEAR ENDED JUNE 30, 2014 Unrestricted

ASSETS & DISBURSEMENTS STATEMENTS OF FINANCIAL POSITION STATEMENT OF ACTIVITIES 2014 STATEMENT OF ACTIVITIES 2013

FINANCIALS

© 2014 Kent State University Foundation

KENT STATE UNIVERSITY FOUNDATION

2014 ANNUAL REPORT

FINANCIALS

ASSETS & DISBURSEMENTS STATEMENTS OF FINANCIAL POSITION STATEMENT OF ACTIVITIES 2014 STATEMENT OF ACTIVITIES 2013

WELCOME

MILESTONES FOR THE NEXT CENTURY

STUDENT SCHOLARS

FINANCIALS

LEADERSHIP

GIVE

STATEMENTS OF ACTIVITIES YEAR ENDED JUNE 30, 2013 Revenue and Support Gifts

Cash and securities

Events and other

Net change in pledges receivable

Losses on pledges receivable

Investment income

Interest and dividends

Investment gains and losses

Investment in Hotel and Conference Center

Investment income allocated to other

beneficiaries of funds held for others

Restricted Temporarily Permanently

Unrestricted

Total

$ 69,267 $ — 13,849 68,467 (2,930) 80,186

11,302,410 $ 999,029 $ 12,370,706 1,024,513 — 1,024,513 6,541,741 141,185 6,696,775 10,105,719 2,525,983 12,700,169 (1,524,750) (10,327) (1,538,007) 17,343,914 1,129,887 18,553,987

521,011 2,140,835 583,046

2,130,121 10,392,386 —

— — —

2,651,133 12,533,221 583,046

— 3,244,892

(891,148) 11,631,359

— —

(891,148) 14,876,252

240 (424,000) —

— 38,752 (78,979)

— 385,248 318,992

240 — 240,013

1,237,245 4,066,176 8,036,216 13,339,637 16,240,955

(1,237,245) (4,066,176) (8,036,216) (13,339,637) 15,595,409

— — — — 1,834,127

— — — — 33,670,492

8,574,982 1,019,663 2,273,333 1,770,567 13,638,545 927,378 9,105 14,575,028

— — — — — — — —

— — — — — — — —

8,574,982 1,019,663 2,273,333 1,770,567 13,638,545 927,378 9,105 14,575,02

Change in net assets

1,665,928

15,595,409

1,834,127

19,095,464

Net assets at beginning of year

5,211,629

83,988,655

31,675,172

120,875,456

$ 6,877,557

$ 99,584,064

$ 33,509,299

$ 139,970,920

Sales, services, events, and other Changes in designation of prior contributions Change in actuarial liabilities Release of restrictions Investment pool operator fee Endowment spending distributions Other support for Kent State University Total release of restrictions

Expenses and losses Grants to Kent State University

Academics

Athletics

WKSU

Fundraising

Administration Depreciation

Net assets at end of year

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TO KENT STATE

© 2014 Kent State University Foundation

KENT STATE UNIVERSITY FOUNDATION

2014 ANNUAL REPORT

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WELCOME

MILESTONES FOR THE NEXT CENTURY

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2013– 2014 BOARD OF DIRECTORS

TO KENT STATE

AT LARGE MEMBERS Lawrence R. Armstrong, ‘79, ‘80 Ware Malcomb James W. Arthur, ‘62 TransOhio Properties Harvey J. Bazaar, ‘62 Caldwell, New Jersey Gary L. Brahler, ‘89 Polcar.Brahler.Heil.Belden Wealth Management Group of Wells Fargo Advisors

Dr. Candice A. Hughes, ‘70, ‘72 Bridging Cultures Inc.

AT LARGE MEMBERS REPRESENTING ALUMNI ASSOCIATION

Nora Conway Jacobs, ‘73 Hennes Paynter Communications

Maria E. Schneider, ‘86 Premier Segment, Institutional Relationships TIAA-CREF

Steffany Matticola Larkins, ‘92 Medical Mutual Judie Fall Lasser, ‘00 Hudson, Ohio John M. Monter, ‘72 Brand Services

Christopher P. Bray, ‘89 Ariel Capital Advisors LLC

Dr. Linda M. Neiheiser, ‘90, ‘00 Cleveland Municipal School District

Edmund D. Cooke Jr., ‘65 Law Offices of Cooke Robotham LLC

James M. Pazderak, ‘74 Covenant Financial Group Ltd.

R. Douglas Cowan, ‘64 The Davey Tree Expert Company*

Robert G. Risman Burton Carol Management LLC

Robert J. DiDiano, ‘87 Wells Fargo Private Bank Barbara A. Donaho, ‘92 St. Anthony’s Hospital* Timothy D. Eippert, ‘92 MC Sign Company John R. Elliot, ‘70 AMFM, LLC Barry E. Fetterman, ‘74, ‘76 Sirach Capital Management Inc.* Richard J. Frenchie, MBA, FACHE University Hospitals Health System* Cathy D. Hemming, ‘70 Cathy D. Hemming Literary Agency LLC Peter M. Holway, ‘82 Hirtle, Callaghan & Company

Brian M. Marino, ‘01 Skylight Financial Group EX OFFICIO MEMBERS: Trustee Representative Richard H. Marsh, ‘73 FirstEnergy Solutions Corp.* Assistant Vice President of Alumni Association Lori A. Randorf, ‘99 Assistant Vice President

Robert E. Ross, ’70 Robert W. Baird & Co.

EXECUTIVE OFFICERS OF KENT STATE UNIVERSITY

Richard D. Selip Grand River Rubber & Plastics Co.

Dr. Lester A. Lefton President

David J. Sibits, ’72 CBIZ, Inc.

Dr. Todd A. Diacon Senior Vice President and Provost

Stephanie Danes Smith, ‘79 TrueNorth Strategies LLC School of Journalism and Mass Communications, Kent State

Gene Finn Executive Director, Foundation Vice President, Institutional Advancement

Buzz Starner, ‘67 Starner Sales & Marketing

Gregg S. Floyd Vice President for Finance and Administration

F. Carl Walter Jr., ‘73 Chess Financial Corp.*

PRESIDENTIAL APPOINTMENTS

Robert W. Woolf, ‘65 Chemi-Troll Chemical Company

Dr. Daniel F. Mahony Dean, College of Education, Health and Human Services * Retired

© 2014 Kent State University Foundation

KENT STATE UNIVERSITY FOUNDATION

2014 ANNUAL REPORT

WELCOME

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STUDENT SCHOLARS

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© 2014 Kent State University Foundation