ANNUAL REPORT Fiscal Year 2026
“I am inspired by every donor who stands with us in advancing UC’s public mission. Your generosity expands access for our students, strengthens the work of our faculty and fuels the discovery and innovation that define our great university. Because of you, more Bearcats will have the opportunity to learn, lead and make a meaningful impact in Cincinnati, across Ohio and around the world. Together, we are building what’s next, and I am truly thankful for your partnership.” Neville G. Pinto, PhD
President University of Cincinnati
On the cover: UC students celebrate on campus, Spring 2026. During fiscal year 2026, UC’s annual Day of Giving inspired more than 2,700 gifts and raised $2.86 million in support of students, research and programs across the university. Photo courtesy of the UC Alumni Association. 4
IN THIS REPORT
LETTERS OF GRATITUDE O. Richard Bundy, III, President Leigh R. Fox, Chair
INVESTMENT OVERVIEW The UC endowment and its performance
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A legacy of discovery shaped by connection
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DELIVERING IMPACT AND DRIVING BREAKTHROUGHS
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ENDOWMENT SPOTLIGHT
Transformational gifts from visionary donors
A LOOK BACK AT A BREAKTHROUGH YEAR
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Fundraising highlights showcasing the collective impact of philanthropy
FUNDRAISING REPORT An overview of annual fundraising and financial performance
LEADERSHIP A listing of UC, UC Health and UC Foundation leadership and trustees
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Annual Report Fiscal Year 2026 5
UC students outside University Pavilion, Fall 2025. During fiscal year 2026, donors gave more than $40 million to support students through scholarships and fellowships.
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A LETTER FROM RICH BUNDY The unwavering commitment of our Bearcat community has propelled us through another breakthrough year, an achievement that speaks to the power of a shared vision. Donors gave more than $311 million to the University of Cincinnati and UC Health, setting a new giving record and reflecting your remarkable generosity. This breakthrough era is reflected in transformational gifts across our campuses, including a historic $43.2 million commitment from the Klekamp family—the largest in the history of the newly renamed Donald P. Klekamp College of Law. Through their support, the Klekamps are empowering the next generation of legal minds and opening new pathways for students to shape the world. Alongside the Klekamps’ commitment to student success, the Alpaugh Foundation’s $10 million gift to the Alpaugh Family Economics Center strengthens UC’s mission to equip every child in Ohio with the financial education needed for lifelong success. And thanks to the James J. and Joan A. Gardner Family Foundation’s $20 million gift to the UC Gardner Neuroscience Institute, we are accelerating evidence-based patient care and research investments in memory disorders. Likewise, the $15 million bequest from George Bemis, Jr., MD, to support an endowed chair at the College of Medicine reflects the lasting commitment our donors and alumni share for UC, UC Health and the future of higher education. We are delighted to share this annual report with you, so you can read more about these gifts and many others that are having lifechanging impacts on our campuses and in our clinical care facilities. Thank you for being our partner in fueling the breakthroughs that empower our educators, ignite discovery and prepare our Bearcats to shape and lead our shared future.
“Your generosity powers UC and UC Health, shaping the leaders of tomorrow and positioning UC at the forefront of innovation and excellence.“
O. Richard Bundy, III President, University of Cincinnati Foundation Vice President for University Advancement, University of Cincinnati
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Bearcats and friends participated in annual giving days, supporting the colleges and programs close to their hearts. These efforts raised $23.1 million in gifts under $25,000 for causes that shape and strengthen the UC and UC Health community, including the UC Student Emergency Fund and the Bearcats Pantry and Resource Center. 8 Annual Report Fiscal Year 2026
A LETTER FROM LEIGH FOX When I began my tenure as chair of the UC Foundation Board of Trustees, I knew the role was a privilege. As a former scholarship recipient, I have experienced firsthand how philanthropy and higher education can transform lives. The chance to lead a passionate group of Bearcats dedicated to supporting future generations was especially meaningful. Thanks to you, this experience has exceeded all expectations. Together, we successfully completed the Next, Now campaign, celebrated 50 years of philanthropy at the UC Foundation and achieved record-breaking fundraising totals. Your generosity has created scholarships, endowed professorships and chairs, and fueled research, innovation and advances in healthcare. Every gift helps expand opportunities for students, advance groundbreaking research and improve care for patients across our region. Thank you for allowing me to serve my alma mater. As a firstgeneration college graduate, I am especially proud of the people and the spirit of generosity that continue to move our university and academic healthcare system forward. Looking ahead, I am confident that our momentum will continue. Together, we will create new opportunities, drive meaningful impact and build an even stronger future for the next generation of Bearcats. On behalf of the UC Foundation Board of Trustees, thank you for your generosity and unwavering support of UC and UC Health.
“My time at UC changed the trajectory of my life. That's why I give back today. Your generosity, time and kindness are helping shape the next generation of Bearcats.”
Leigh R. Fox, Bus ’01 Chair, University of Cincinnati Foundation Board of Trustees
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“I’m energized by what UC Health accomplished this year, made possible by the generosity and partnership of our community. Philanthropic support helps us advance the health and vitality of our region by expanding access, accelerating discovery and raising the standard of care for every patient we serve. Thanks to you, we are aligned with UC’s academic health colleges and driving coordinated, meaningful change. This alignment sets us apart: It helps us move from research to treatment faster, offer capabilities no other system in the region can and deliver outcomes that reflect the full power of an academic medical enterprise.” Cory D. Shaw President & Chief Executive Officer UC Health
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The Timothy Freeman, MD, Center for Developmental Disabilities unveiled a $6 million expansion of its facility on Victory Parkway in fall of 2025 thanks to $2.3 million in donor support. Above, Holly Freeman joins community members for a ceremonial ribbon cutting to commemorate the opening of the center's newly expanded space. Photo courtesy of UC Health. Annual Report Fiscal Year 2026 11
INVESTMENT OVERVIEW
12 Annual Report Fiscal Year 2026
UNIVERSITY OF CINCINNATI ENDOWMENT CLIMBS TO $2.66 BILLION In fiscal year 2026, the University of Cincinnati’s endowment grew to $2.66 billion, up more than 14% from $2.33 billion in 2025. This growth was fueled by more than $365 million in investment gains and $27.8 million in new endowed gift receipts during the fiscal year. The endowment distributed $98.1 million to expand student opportunities, fuel research and innovation, support distinguished faculty, and advance the university’s highest priorities. Together, philanthropic support and strong investment performance continue to strengthen the endowment’s capacity to create lasting impact, advancing opportunities for students, faculty and research across the university.
UC endowment and investment performance Endowment growth FY 2026 • Total endowment rose from $2.33B to over $2.66B* • $98.1M distributed to support scholarships, research, professorships and programs
Growth driven by • $27.8M in new gift receipts • $365.3M in investment gains
“The greatest returns on our endowment investments are the opportunities created for students, faculty and future generations of Bearcats.” Karl Scheer Chief Investment Officer University of Cincinnati
*Dollar figures reflect UC’s $2.66 billion total endowment, which includes its $2.0 billion internally managed pool (the “A Pool”) and endowment funds managed by third parties per donor decree, as of June 30, 2026. On the following pages, percentage performance figures reflect the A Pool. The Global Balanced Portfolio is comprised of 60% global stocks (MSCI All-Country World Index) and 40% bonds (Bloomberg U.S. Aggregate Bond Index). UC A Pool returns include internally produced performance estimates for the month of June 2026. 13
GROWING IMPACT: RETURNS STRENGTHEN UC'S ENDOWMENT FOR FUTURE GENERATIONS Every endowed gift entrusted to the University of Cincinnati creates a lasting legacy, empowering students, fueling innovation and strengthening academic excellence for decades to come. The UC Endowment “A Pool,” the university’s primary endowment investment vehicle, continues to deliver strong short-term and long-term results. In the latest fiscal year, which ended June 30, 2026, the A Pool generated a return of 16.9%, an especially impressive result following two consecutive years of robust market performance (Figure 1). The year’s gains were driven by a variety of areas across the portfolio, highlighting the benefits of maintaining a diversified portfolio designed to perform across varied environments. 18%
16.9%
16% 14%
13.2% 13.4%
12% 10% 8% 6%
15.5%
9.9% 7.9%
6.7%
7.5%
8.4%
6.7%
8.8% 6.7%
4% 2% 0%
35-Year
20-Year
10-Year
UC Endowment "A Pool"
5-Year
3-Year
1-Year
Global Balanced Portfolio
Figure 1 The A Pool has a track record of delivering strong long-term investment returns. Over a 35-year period, the A Pool generated an annualized return of 7.9%, outperforming the Global Balanced Portfolio benchmark by 1.2 percentage points per year.
Beyond this year’s strong results, the A Pool has consistently delivered value over much longer time horizons. Over a 35-year period, the A Pool generated an annualized return of 7.9%, outperforming the Global Balanced Portfolio benchmark by 1.2 percentage points per year. While that difference may appear modest, the long-term impact of consistent outperformance is significant and produces a compounding impact over time. A hypothetical $1 million investment in the A Pool 35 years ago would have grown to more than $18 million, compared with less than $12 million** had it been invested in a traditional balanced portfolio. ** As of June 30, 2026. A Pool and Balanced Portfolio hypothetical results exclude spending.
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This difference illustrates how disciplined investment management can substantially expand the longterm value of philanthropic support. Over time, endowment assets generate a growing stream of resources that help fund scholarships, faculty excellence, research initiatives and student opportunities while preserving support for future generations. The combination of donor generosity and sustained investment growth allows each gift to provide both immediate benefit and enduring impact.
Consistency through market cycles While individual years can produce varying results, UC’s investment strategy is designed to deliver strong outcomes throughout changing market environments. The portfolio maintains a core allocation to global equities, which serve as the primary driver of long-term growth, while complementing those investments with exposures to areas influenced by different economic and market conditions. This diversified approach not only helps generate attractive returns but also seeks to reduce the severity of losses during periods of market stress. In fiscal year 2026, for example, robust results from emerging market equities, hedge funds and inflation-driven investments supplemented gains in developed market stocks, demonstrating the value of maintaining multiple sources of return.
UC private investments outperform stock markets A key component of the university’s approach is its emphasis on private investments, where skilled managers have greater opportunities to create value through business transformation and operational improvement. UC has developed a solid track record in this area, benefiting from access to highly sought-after investment managers and opportunities that are often unavailable to many investors. At the same time, the university employs low-cost index strategies in public markets, allowing resources to be focused where active management has the greatest potential to add value. Combined with disciplined governance and manager selection, and a commitment to long-term thinking, this approach has helped position the endowment to support UC’s mission for generations to come.
18% 16% 14%
17.0% 15.9% 12.8%
12% 10%
14.1% 12.6%
8.4%
8% 6% 4% 2% 0%
10-Year (Annualized)
20-Year (Annualized)
UC Venture Capital
UC Private Equity
Global Stock Markets
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A LEGACY THAT GROWS: HOW AN ENDOWMENT IS SUSTAINING DISCOVERY AND CARE The values that define a lifetime of giving are often shaped early, formed through mentors, strengthened by family and carried forward through meaningful relationships. For George G. Bemis, Jr., MD, Med ’64, that foundation took root at the UC College of Medicine, where he learned that medicine is as much an art as it is a science. Shaped by mentors, inspired by his father and guided by lasting relationships, Bemis built a life grounded in care and service, one that now extends its impact through his transformational $15 million bequest to the College of Medicine in 2025.
Honoring a life shaped by connection A long-time supporter of the college and university, Bemis’ latest gift came in the form of an updated bequest in recognition of two people who shaped his life and career: his father, George Bemis, Sr., MD, and his friend and colleague George Bemis, Sr., MD Thomas Boat, MD. Together, they represent the values that guided him throughout his life: compassion, leadership, service and care. His father, a respected OB-GYN trained at the University of Wisconsin and Harvard University,
16 Annual Report Fiscal Year 2026
modeled a life grounded in compassion. Bemis, who retired as an OB-GYN following a career in the U.S. Air Force, was drawn to medicine by the same calling: to connect with people and make a difference at pivotal moments in their lives. By recognizing his father through the Bemis Fund in Recognition of Dr. George Bemis, Sr., he honors the example that first inspired his career in medicine. Bemis’ gift supports the Thomas F. Boat, MD Endowed Chair, honoring a colleague and friend whose leadership left a lasting mark on academic medicine. The chair helps the College of Medicine recruit and retain exceptional clinicians, researchers and scholars while advancing its highest-priority initiatives. Boat, a specialist in cystic fibrosis, served as dean of the College of Medicine from 2008 to 2014 and is an emeritus professor and retired director of CFWELL, a pediatric cystic fibrosis program within the Division of Pulmonary Medicine at Cincinnati Children’s. The two physicians met during Boat’s tenure as dean, and what began as a professional relationship grew into a lasting friendship rooted in mutual respect and a shared commitment to excellence in medicine. Through this gift, Bemis honors individuals and a philosophy that values mentorship, leadership and the enduring impact of care. “You learned very quickly at the College of Medicine to put patients first,” said Bemis. “That value stayed with me throughout my career, and I think if you are fortunate enough to earn money, you should give back to the system that helped you.”
Impact that endures: A living, growing legacy Endowments ensure that generosity evolves, expands and multiplies over time. The Thomas F. Boat, MD Endowed Chair, established in 2014 by a group of Boat’s colleagues upon his retirement, illustrates this principle in action. Originally funded at approximately $1.8 million, the endowment has already distributed nearly $1.4 million to support faculty while growing to $3 million. This is the power of endowment: a single gift that continues to give, strengthening its ability to support leadership, advance discovery and adapt to future needs. Endowed chairs play a critical role in academic medicine by enabling institutions to recruit and retain visionary leaders, accelerate research and sustain excellence in education and patient care. “I think the most important thing in the growth and development of any academic program is making sure that the best people possible are in leadership positions,” said Boat. “And when you’re recruiting, one of the major attractions for people is an endowed chair.” Through endowed support, the values embodied by those who influenced Bemis—mentorship,
George Bemis, Jr., MD, Med ʼ64 and his late wife, Nancy Bemis.
excellence and compassion—will continue influencing medical education, research and patient care long into the future. Every gift tells a story, but endowed gifts ensure those stories continue to unfold. Your support advances education, fuels discovery and strengthens communities, today and far into the future. This is how breakthroughs happen.
WAYS TO CREATE ENDURING IMPACT Invest in an existing fund Multiply the reach of a mission you believe in.
Honor a lasting influence Celebrate those who shaped your path through a gift that endures.
Establish an endowed fund Create a resource designed to grow, adapt and support generations to come.
DELIVERING IMPACT AND DRIVING BREAKTHROUGHS Transformational gifts from visionary donors are advancing lifelong learning, expanding access to education and accelerating discovery in ways that will shape generations of students, patients and communities.
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VISIONARY GIFT SUPPORTS ADVANCEMENTS IN BRAIN HEALTH The University of Cincinnati Gardner Neuroscience Institute received a transformative $20 million gift from the James J. and Joan A. Gardner Family Foundation to advance lifelong brain health at every stage of life. The investment will accelerate a first-of-its-kind learning health system—turning real-world patient experiences and clinical data into actionable advances in treatment and discovery. By combining patient information, the latest research and the knowledge of UC’s expert care team, the learning health system will yield new insights that can be applied more quickly to patient care. The gift also supports the creation and growth of the UC Center for Alzheimer’s and Neurodegenerative Diseases Research. UC’s experts are already pioneering new approaches to neurodegenerative diseases by focusing on brain health at every stage of life, with emphasis on stroke risk factors and their impact on dementia.
“It was my grandparents' With this latest contribution, the Gardner Family Foundation’s vision to provide philanthropic support for UC’s neuroscience institute will exceed $50 million since its inaugural 2007 gift. patients in our community who suffer from neurological Every breakthrough has a story. Scan to learn more. diseases with the best care, from the best people, in the best place." Kyle Johns James J. and Joan A. Gardner Family Foundation trustee Annual Report Fiscal Year 2026 19
A BREAKTHROUGH FOR LEGAL EDUCATION Gift in honor of Donald P. Klekamp, JD ’57 redefines what’s possible at UC A $43.2 million gift from the Klekamp family marks a defining breakthrough for the University of Cincinnati College of Law, fueling scholarships, expanding experiential learning and elevating the Corporate Law Center to new national prominence. Honoring Donald P. Klekamp, JD ’57, a visionary UC alumnus, civic leader and champion of legal education, this transformational investment builds on a legacy of integrity, leadership and opportunity. In March 2026, the UC Board of Trustees approved the renaming of the college in recognition of the investment, rededicating it as the Donald P. Klekamp College of Law. “The Klekamp family’s extraordinary generosity strengthens our ability to prepare the next generation of talented legal minds,” said UC President Neville G. Pinto. This gift accelerates UC’s momentum in developing practice-ready graduates, broadens access for aspiring attorneys and advances innovation in legal education.
Breakthroughs begin here. Scan to explore more.
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“This gift does not simply add resources to our college— it fundamentally changes what is possible for us.” Haider Ala Hamoudi, JD Dean Nippert Professor of Law
Key areas of support Made possible through extraordinary generosity, this gift drives impact where it matters most—expanding opportunity for students, enhancing hands-on learning and elevating programs that shape the future of legal education.
Scholarships and access Expands both merit- and need-based scholarships to attract top-tier law students while preserving affordability and broadening access to a UC legal education.
Experiential learning Enhances hands-on learning opportunities through clinics, externships and fellowships, including the expansion of the Summer Public Interest Fellowship Program and the creation of a new endowed professor of practice to lead experiential programs.
Student success and outcomes Strengthens comprehensive student support by adding professional staff focused on guiding students through their law school journey and enhancing bar exam preparation resources.
Corporate Law Center Elevates the center’s national prominence by funding a dedicated director, establishing a corporate law/tax endowed chair, supporting the Corporate Law Symposium and expanding the Entrepreneurship and Community Development Clinic.
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EXPANDING ACCESS TO FINANCIAL LITERACY Bequest supports legacy that began 50 years ago at the Alpaugh Family Economics Center at UC A $10 million estate gift from the Alpaugh Foundation reflects a lifetime of commitment from Peter Alpaugh. It also honors his father, Walter “Pete” Alpaugh, who was one of the founders of the Alpaugh Family Economics Center at the University of Cincinnati. From its earliest days in 1976, the Alpaugh family was passionate about the center’s mission: that every child deserves access to financial and economic education that can change the trajectory of their lives. Today, tens of thousands of Ohio students take part each year in the center’s in-school education, investing and entrepreneurship programs, with hundreds of Ohio teachers benefiting from the center’s professional development programs. Through the $martPath online curriculum, millions of students in 50 states and more than 80 countries have built essential financial and economic literacy skills. The center’s economic research team extends that impact by working with dozens of clients annually, providing analysis and insights that help communities and organizations make informed decisions. The breakthrough is just the beginning. Scan to read more.
“My father believed strongly that understanding money and the economy helps young people make better choices throughout their lives. This planned gift is intended to honor that belief and to help ensure the center's work continues for years to come.” Peter Alpaugh
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A LOOK BACK AT A BREAKTHROUGH YEAR Bearcats are expanding into new opportunities and creating tomorrow’s breakthroughs across UC and UC Health. Thanks to you, we celebrated a historic fundraising year, with $311,919,806 in gifts that allow us to build the future together. 205 scholarship funds established 260 endowment funds created $33 million to research funds Donors established 119 estate gifts, totaling $57 million 15,830 alumni made 25,371 gifts 32,800 donors made over 45,000 gifts in FY26 Reimagine teaching and scholarship Mohammad H. Qayoumi, MS ’79, MS ’80, MBA ’84, PhD ’83 and Najia Karim, BS ’82, MEd ’83, RD, make a $4 million gift to create two endowed chairs at the College of Engineering and Applied Science and the College of Allied Health Sciences.
Former students and friends of Randy Allemang, BSME ’72, MS ’73, PhD ’80 and Dave Brown, AE ’61, MS ’63, PhD ’76, honor their legacy and memory with the Professor Randall J. Allemang Endowed Faculty Support Fund and the David L. Brown, PhD Memorial Endowment Fund at the College of Engineering and Applied Science. Mark Brueggeman, UCBA ’79, Bus ’81, and Elizabeth B. Brueggeman create the Brueggeman Family Scholars Fund at the Carl H. Lindner College of Business. The scholarship supports Blue Ash College pre-business students transitioning to the Lindner College of Business.
The Paul E. Potter Endowed Chair of Geology Fund at the College of Arts and Sciences is fully funded with $2 million in gifts; $1.7 million contributed by Potter during his lifetime and from a bequest. Jim Semmelman, CCM ’76, and Ray Disco establish the Semmelman Disco Endowed Fund for the College-Conservatory of Music with a gift from their estate. The Harvey D. and Janet G. Cohen Charitable Foundation establishes the Harvey D. and Janet G. Cohen Leadership in Clinical Medicine Program at the College of Medicine.
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Support creation of new knowledge
Advance the health and vitality of the region
Henry A. Nasrallah, MD, and Amelia T. Nasrallah make a $1 million donation to establish the Dr. Henry and Amelia Nasrallah Endowed Professorship in Psychiatric Neuroscience at the College of Medicine.
The Charles L. Shor Foundation contributes $4 million supporting epilepsy patients at the UC Epilepsy Center at the Gardner Neuroscience Institute and the Osher Center for Integrative Health at UC. The expanded Timothy Freeman, MD, Center for Developmental Disabilities opens in September 2025. A community of supporters, including the National Down Syndrome Society, help create the center’s new home.
Fred V. Lucas, MD, and Johna D. Lucas, MD, donate $2 million to create the Fred V. Lucas, MD Endowed Chair of Pathology and Laboratory Medicine at the College of Medicine.
Jude Schramm, Bus ’97, and Kristen Schramm, Bus ’96, name two rooms at the Freeman Center in honor of their siblings, Erin Marie Schramm and David Sutton. Narendar Sahgal, MS, CEAS ’83, establishes the Narendar and Rashmi Sahgal Graduate Fellowship Fund for graduate students at the College of Engineering and Applied Science.
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Tom Mischell, Bus ’70, and Pam Mischell, DAAP ’71, create the Tom and Pam Mischell Palliative Care Fund at UC Health. A $2.1 million gift from the Bernard Osher Foundation supports the new Osher Wellness Suite and John & Carrie Hayden
Community Learning Kitchen. This one-of-a-kind space opened in February 2026 as part of the Osher Center for Integrative Health at UC.
A $1 million gift from Patricia A. Carroll and Michael W. Carroll creates the Patricia A. Carroll and Michael W. Carroll Clinical Trial Research Fund supporting the James J. and Joan A. Gardner Family Center for Parkinson’s Disease and Movement Disorders. A $1.2 million estate gift from Susan A. Carlson, David Berne and Philip H. Berne creates the Ben Carlson-Berne Endowed Fund for CCM Prep, supporting children, teens and preprofessional students through the College-Conservatory of Music's preparatory program.
Prepare students for success in a complex world The annual UC Day of Giving raises more than $2.86 million. • 1,115 donors gave more than $250,000 to student scholarships across UC. • The UC Student Emergency Fund, the UC Fund for Scholarships and the Bearcats Pantry and Resource Center benefited from 256 donors who made gifts to support student success. • 52 UC Day of Giving ambassadors inspired 878 gifts totaling $49,160. A $3 million estate gift from Barry Mitchell, CEAS ’82, creates the Barry L. Mitchell Endowed Chair and Barry L. Mitchell Music Endowed Scholarship Fund at College-Conservatory of Music. Francie Wolgin, Nur ’69, ’83, gives $50,000 to create the Francie Wolgin Endowment Fund in the College of Nursing to support Advanced Practice Registered Nurse students.
Myers for Judge Committee gives $50,000 to the Judge Beth Myers Public Interest Fellowship Endowment Fund, supporting summer public interest fellowships for students at the Donald P. Klekamp College of Law. Martha Moody, MD, Med ’82, and Martin Jacobs donate $50,000 to establish the Moody/ Jacobs Family Endowed Scholarship Fund for the College of Medicine to help support students who are pursuing study abroad and global health learning experiences. Penelope H. Wills, CECH ’70, and Ronald F. Wills establish the Wills Family Study Abroad Scholarship to support international learning for firstgeneration students.
The family of Donald Wehmeyer, Eve ’61, creates the Donald E. Wehmeyer Memorial Endowed Scholarship Fund at the College of Engineering and Applied Science. Jack Litmer, A&S ’77, and Epathea Demetriou Litmer, A&S ’77, establish the Jack Litmer and Epathea Demetriou Litmer Endowed Scholarship Fund at the College of Arts and Sciences. David F. Herche contributes $4 million to the Men’s Basketball Excellence Fund to support recruitment and retention of top-tier student-athletes needed to compete at the highest level of the Big 12 and beyond.
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FUNDRAISING REPORT An overview of annual fundraising and financial performance, reflecting a year of notable growth and donor impact.
FUNDRAISING HIGHLIGHTS Fiscal Year 2026 commitments
$311,919,806
53+24+23 63+18+19 60+13+2142
Commitments by fund type, source and purpose
TYPE
SOURCE
Current operations $168,343,521 or 53.97%
New commitments $195,517,895 or 62.68%
Program enhancements $187,297,841 or 60.04%
Endowment $75,690,547 or 24.26%
Deferred gifts $57,038,127 or 18.28%
Scholarships & fellowships $40,437,822 or 12.96%
Facilities $67,885,738 or 21.76%
Gift-in-kind $59,363,784 or 19.03%
Facilities $67,885,738 or 21.76%
PURPOSE
Chairs & professorships $11,534,061 or 3.69%
GIFT BANDS $1M+
$227,523,236 - 73% of all dollars 54 Principal Gifts
$100K+
$45,095,308 - 14% of all dollars 192 Gifts
$25K+
$16,174,284 - 5% of all dollars 381 Gifts
$25K-
$23,126,977 - 7% of all dollars 45,048 Gifts
Unrestricted $4,764,324 or 1.52%
25,371
total number of gifts
$57,783,874 gifts from alumni
Annual Report Fiscal Year 2026 27
FINANCIAL HIGHLIGHTS UC Foundation and UC Health Foundation combined* Revenues
2026 total
2025 total
Contributions
104,425,850
86,207,225
University support
17,341,958
16,760,925
Fundraising fees
12,414,705
11,575,980
Investment gains (losses), net
123,509,764
79,904,082
7,760,776
2,601,830
$265,453,053
$197,050,042
Distributions to University of Cincinnati
85,180,402
83,280,206
Assets released from restriction
5,018,222
6,560,753
Operating expenses
35,346,813
33,815,435
UC Foundation endowment fee
6,104,963
5,517,581
Total expenses $131,650,400
$129,173,975
Other Total revenues Expenses
Change in present value of annuities payable
633,197
243,297
Total expenses and other deductions
$132,283,597
$129,417,272
Change in net assets
$133,169,456
$67,632,770
Net assets, beginning of year
$934,839,791
$867,207,021
Net assets, end of year
$1,068,009,247
$934,839,791
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Assets 2026 total
2025 total
Cash and cash equivalents
20,743,837
21,058,304
Pledges receivable, net of allowance
112,521,721
98,271,873
-
-
Investments
959,001,880
843,981,643
Beneficial interest in assets
25,501,137
19,852,787
78,097
58,630
6,516,162
4,677,284
$1,124,362,834
$987,900,521
Due to/from intercompany
Property and equipment Other assets Total assets
Liabilities Accounts payable and accrued expenses
26,420,444
24,425,631
Agency payable 11,178,861
11,074,651
Trusts held for the benefit of others
7,901,784
6,959,617
Present value of annuities payable
7,334,050
7,221,612
Other liabilities 3,518,448 Total liabilities
3,379,219
$56,353,587
$53,060,730
$1,068,009,247
$934,839,791
Total liabilities and net assets $1,124,362,834
$987,900,521
Net assets
*Unaudited
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UC AND UC HEALTH LEADERS
Neville G. Pinto, PhD President University of Cincinnati
Cory D. Shaw President and Chief Executive Officer UC Health
UC FOUNDATION BOARD OF TRUSTEES OFFICERS
Chair
President
Leigh R. Fox Cincinnati, OH
O. Richard Bundy, III Cincinnati, OH
Vice Chair
Treasurer
Secretary
William J. Davis Columbus, OH
Kendra P. Smith Cincinnati, OH
Heather C. Ellison Cincinnati, OH
UC FOUNDATION LEADERSHIP O. Richard Bundy, III President, UC Foundation Vice President for University Advancement, UC Jessica J. Cornelius Vice President, Information and Enterprise Risk Samantha M. Dailey Vice President, Human Resources Heather C. Ellison Chief of Staff Julie L. Engebrecht Vice President, Strategic Communications
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Jennifer L. Heisey Vice President, Alumni & Annual Giving Christopher T. Higgins Vice President, Development, Academic Health Enterprise Kendra P. Smith Vice President and CFO, Administration & Finance Mark J. Theiss Vice President, Development, Central Programs Caleb D. Whitted, EdD Vice President, Development, West and Regional Campuses
Trustees Lori A. Beer New York, NY Edwin L. Bowman III Suwanee, GA Eric C. Broyles Ft. Washington, MD Alvin H. Crawford Cincinnati, OH William J. Davis Columbus, OH Scott DeVenny Cincinnati, OH Kimberlee J. Dobbs Cincinnati, OH Brian N. Driscoll Irvine, CA Timothy A. Elsbrock Cincinnati, OH Barbara S. Fant Cincinnati, OH Timothy J. Fogarty Covington, KY Leigh R. Fox Cincinnati, OH Jerry L. Fritz Coralville, IA
Anabel Konesco Cincinnati, OH
Ex-officio Trustees
Ken V. Byers Cincinnati, OH
Barbara W. Kellar Cincinnati, OH
Alvin F. Roehr Cincinnati, OH
Charity E. Accurso Cincinnati, OH
Daniel P. Carmichael Carmel, IN
Robert J. King Cleveland, OH
Ryan M. Rybolt Cincinnati, OH
Flavia M. Bastos Covington, KY
Phil D. Collins Cincinnati, OH
Patricia L. Klingbiel Elmhurst, IL
James A. Schiff Cincinnati, OH
O. Richard Bundy, III Cincinnati, OH
Sean P. Connell Oak Brook, IL
Marvin P. Kolodzik Cincinnati, OH
James E. Schwab Marana, AZ
Heather C. Ellison Cincinnati, OH
Todd C. DeGarmo Washington, DC
David M. Lance* Warsaw, KY
Richard C. Seal Cincinnati, OH
Gregory Hartmann Cincinnati, OH
Thomas E. Dewey Montgomery, OH
Louis H. Lauch Naples, FL
Shimul A. Shah Chestnut Hill, MA
Patrick A. Kowalski Cincinnati, OH
David B. Dillon Mission Hills, KS
Jerry P. Leamon Cos Cob, CT
Tony L. Shipley Cincinnati, OH
Susan R. Opas Woodland Hills, CA
Neville G. Pinto Cincinnati, OH
John S. Domaschko Covington, KY
Doloris F. Learmonth Cincinnati, OH
Randall E. Smith Cincinnati, OH
Andrew Patterson Cincinnati, OH
Gabriella Le Cincinnati, OH
Dianne G. Dunkelman Cincinnati, OH
Darrell D. Miller Altadena, CA Anndrea M. Moore Los Angeles, CA Arun C. Murthy Flower Mound, TX Russell C. Myers Cincinnati, OH William T. Neat Montgomery, OH Jacqueline C. Neumann Cincinnati, OH
Kirk L. Perry Cincinnati, OH Judy L. Pershern Naples, FL Nancy Santi Chicago, IL Margaret Sprung Cincinnati, OH
Gregory C. Postel Cincinnati, OH Cory D. Shaw Cincinnati, OH Kendra P. Smith Cincinnati, OH Monica Turner West Chester, OH
Paul D. Green Cincinnati, OH
Christopher J. Van Pelt Loveland, OH
Trustees Emeriti
Lourdes J. Harshe Huntington Beach, CA
Amanda L. Wait Great Falls, VA
Anil D. Hinduja Bethesda, MD
Bob L. Fealy Chicago, IL Brian E. Hall Cleveland, OH Donald C. Harrison Montgomery, OH Carrie K. Hayden Steamboat Springs, CO
Eva L. Maddox Chicago, IL John M. Mang Medfield, MA
Richard E. Thornburgh Palm Beach, FL
Rae A. Mang Medfield, MA
Woodrow H. Uible Cincinnati, OH
Thomas E. Mischell Cincinnati, OH
Margaret K. Valentine Cincinnati, OH
Joffre P. Moine Mason, OH
Lynnette M. Heard Fulshear, TX
Jerome P. Montopoli Naples, FL
Shakila T. Ahmad Mason, OH
Robert A. Heimann Cincinnati, OH
Shenan P. Murphy Cincinnati, OH
Andi K. Wiot Cincinnati, OH
Eugene R. Allspach Houston, TX
Stuart G. Hoffman Pittsburgh, PA
Valerie L. Newell Covington, KY
Laurence F. Jones III Fairfield Township, OH
Christie W. Wolf Cincinnati, OH
Peter A. Alpaugh Cincinnati, OH
H. C. B. Niehoff Cincinnati, OH
LaVandez T. Jones Potomac, MD
Andrea I. Zahumensky Chicago, IL
John B. Berding Cincinnati, OH
Kathryn A. Hollister Cincinnati, OH
Jerome C. Kathman Covington, KY
Elroy E. Bourgraf Naples, FL
Ruthie S. Keefe Cincinnati, OH
Jack E. Brown Cincinnati, OH
Stephen E. Kimpel Hilliard, OH
Otto M. Budig Cincinnati, OH
Thomas H. Humes Cincinnati, OH Gary D. Johns Fairfield, OH Timothy E. Johnson Cincinnati, OH
John M. Tew Cincinnati, OH
Cora K. Ogle Cincinnati, OH Ellen Rieveschl Covington, KY
Sandra S. Wiesmann Bethesda, MD Jeffrey P. Williams New Canaan, CT Frank C. Woodside Cincinnati, OH Jeffrey L. Wyler Milford, OH Wilbert L. Ziegler Crestview Hills, KY Anthony Zingale Chicago, IL
Yvonne C. Robertson Cincinnati, OH
Joseph P. Judge Potomac, MD
Fiscal Year 2026 UC Foundation Trustee list *Deceased, June 2026 31
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