University of Georgia
FOUNDATION
Annual Report
The beautiful Richard B. Russell Special Collections Libraries building (above and right) opened in February. UGA Foundation trustees enjoyed a wonderful dinner and tours of the museum the night prior to the dedication, held committee meetings in the new facility the next day and were on hand as President Adams and other university leaders cut the ribbon to officially mark the opening. UGA raised a third of the Russell Building’s cost from private sources, along with $7 million in gifts for program endowments.
About the Front Cover: Built in 1938 with a major addition in 1977, Park Hall is one of the best known buildings on campus. As home to the university’s English Department, it is a familiar venue for most UGA undergraduates.
Foundation Support Staff Cindy Coyle, Executive Director and Chief Financial Officer Lisa Lee, Assistant to the Executive Director and Chief Financial Officer Karin Usry, Assistant to the Board, Executive and Nominating & Governance Committees Ryan Hitchins, Investment, Foundation Fellows and Real Estate Committees Chrissy Moffett, Investment Committee Elizabeth Prince, Finance & Compensation, Audit Committees and Costa Rica Corporation Chip Stewart, Development & Public Affairs Committee
T a bl e of
Contents Letter from the Chairman - Bill Young, Jr. .................................... 4 Letter from the President - Michael F. Ada ms................................. 5 Development and Public Affairs Committee Update........................ 6 Foundation Fellows Committee Update......................................... 8 Current Foundation Fellows and Ramsey Scholars.......................... 9 Real Estate Committee Update.................................................. 10 Investment Committee Update.................................................. 11 Finance and Compensation Committee Update............................ 12 Nominating and Governance Committee Update.. ........................ 13 Audit Committee Update.. ........................................................ 14 Costa Rica Corpo ration Update................................................ 15 Dono r Funded Chairs and Professorships.. .................................. 16 Dono r Profile: Rachel Conway.................................................. 18 Dono r Profile: Knox Family...................................................... 20 Faculty Profile: Dr. Steven Stice.. ............................................... 22 Financial Statement................................................................ 24 Use of Funds......................................................................... 26 Emeritus Trustees................................................................... 28 Committee Listings and Past Chairs........................................... 30 Board of Trustees................................................................... 31
Mission The mission and purpose of the University of Georgia Foundation is to provide support for the teaching, research, public service and outreach programs of the University of Georgia by means of volunteer leadership and assistance in development and fundraising activities; fiduciary care for the assets of the foundation for the long-term benefit and enhancement of the university; and broad advice, consultation and support to the president of the university. The foundation shall operate as a cooperative organization in accordance with policies of the University System of Georgia Board of Regents.
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L e t te r fr om the
Chairman Dear Friends: It has truly been a privilege and an honor to serve as chairman of the University of Georgia Foundation in the past 12 months. I have enjoyed working with the trustees over the past year, benefitting from their vast expertise and enjoying the tremendous spirit of cooperation that exists on our board. Our common bond is a deep and abiding love for the University of Georgia and a desire to do whatever we can to assure it grows in prominence as one of the nation’s great institutions of higher learning. We all recognize that our charge is to serve the University of Georgia on behalf of our donors. As trustees, we are deeply committed to the fiduciary care of the funds you entrust to the foundation so that the institution realizes the maximum, long-term benefit. In these uncertain economic times, your support is more critical than ever. With costs rising for tuition and living expenses, private gifts are the only way to fill the gaps, and it has been gratifying to see the sustained support our university enjoys. For the seventh consecutive year, the university has received over $100 million in gifts and pledges, and I am gratified by your steadfast commitment and generosity. In reviewing the information contained in this annual report, I hope you will be pleased with our efforts in managing foundation assets to which you have contributed so generously. We are extremely proud of the hardworking professionals on our investment committee who provide the expertise and guidance which consistently produce investment returns that exceed Wall Street benchmarks. I offer my heartfelt thanks to our donors, and to my fellow trustees for their tireless and dedicated service to our university. It is a winning combination that portends a bright future in further enhancing the academic mission of the University of Georgia – our state’s flagship institution of higher education. Sincerely, Outgoing trustees were presented with custom paintings of the university’s famed Arch at the board’s annual meeting in June 2012. Chairman Bill Young, Jr. is pictured with Jane Willson, who for years has been one of the foundation’s most beloved trustees and one of the university’s most generous donors.
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University of Georgia Foundation – Annual Report
Bill Young, Jr., Chairman
Let t e r fr om the
President Dear Friends: In reviewing the University of Georgia Foundation Annual Report, I am reminded of just how fortunate we are at this university to have such generous and dedicated donors. We have endured several consecutive years of a challenging economy, which makes the fact that the University of Georgia has continued to enjoy resolute and consistently strong private support a remarkable testimonial to you, our donors. The Honors Program at UGA is flourishing and we have one of the largest classes of incoming Foundation Fellows in the program’s history. The competition for academic scholarships at all levels of the student population is stronger than ever and the “average” incoming freshman at the University of Georgia today is a scholar in his or her own right. The University of Georgia Foundation has always made helping the university attract the “best and brightest” among its highest priorities. The trustees’ continued focus on supporting and enhancing the university’s academic mission is reflected in the superior students who qualify for acceptance and choose UGA over many of the nation’s most prominent institutions of higher education. Fiscal year 2012 demonstrated very clearly that in spite of the challenges presented by economic uncertainties, you and your fellow donors understand the importance of private support and how vital it is to assuring the university is able to carry out its academic mission. I want you to know that I am deeply grateful for your continued generosity and the confidence you place in the University of Georgia Foundation to manage the funds you entrust to their care. It has been my privilege to serve the University of Georgia for 15 years and to witness the physical and academic growth that has taken place in Athens and at UGA facilities around the state and the world. Donor generosity is a primary reason these positive changes could be effectuated and I offer my sincerest thanks to you for helping to make the University of Georgia the great institution that it is today through your gifts to the University of Georgia Foundation. Sincerely,
Michael F. Adams, President University of Georgia
Pictured above is Miller Hall on the new, 56-acre, University of Georgia Health Sciences Campus at the corner of Prince and Oglethorpe avenues. Formerly the site of the U.S. Navy Supply Corps School, the campus opened for about 800 faculty, staff and students in the College of Public Health and the Georgia Health Sciences University/UGA Medical Partnership this fall.
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Com m it te e A ctivit y
Overview Development and Public Affairs Committee Update 2012 was an active year for the Development & Public Affairs Committee. In an era where state support is impacted by a turbulent economy and the cost of attending the state’s flagship institution of higher learning has risen significantly, private support is more important than ever. With a clear focus on boosting fundraising efforts, committee members worked hard to enhance the foundation’s relationships with donors and the University of Georgia’s development team. To continue attracting the best and brightest students and retaining world-class faculty, donor gifts are essential for scholarships, chairs and professorships – and the Development & Public Affairs Committee led numerous efforts in support of that objective. As the largest committee in the University of Georgia Foundation, we are fortunate to have a broad range of professional knowledge and skills. Building on that diversity of experience, we established three subcommittees in 2012, each of which focuses on specific areas as a way to assure the overall committee’s efforts remain on target and are maximized for the benefit of the university and its donors. To that end, subcommittees were established for fundraising, communications and to support the University of Georgia Board of Visitors, all of which have proven to be quite effective. Snelling Hall, a popular dining facility on South Campus has won many awards for its excellent cuisine.
“The support of the UGA Foundation has truly expanded my horizons by helping me interact with others from across the globe, whether at a research symposium in Costa Rica, a pharmacological internship in Switzerland, a Security Conference in D.C., or here on campus. Through the Ramsey Scholarship, I have been able to experience a broad spectrum of cultures, ideas, and views which have helped me grow, both intellectually and personally.” – Pranay Udutha Ramsey Scholar, Class of 2014 International Affairs (AB) Acworth, GA
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University of Georgia Foundation – Annual Report
The Fundraising Subcommittee developed and implemented a plan to encourage all UGA Foundation trustees to conceive and stage fundraising and “friend-raising” events to introduce the foundation and its mission to prospective donors, and motivate giving to the university. The initial foray into this area was a success, with the first such events producing nice turnouts for programs in LaGrange, Georgia – hosted by Trustee Gail Hunnicutt and her husband Pat – and in New York City, where Trustee Susan Waltman served as hostess. Both events helped set the stage for greater trustee participation in the program in 2013 and beyond. The Communications Subcommittee is comprised of a group of “hands on” members who are active in the oversight of the foundation’s overall communications efforts that range from the broad outreach of this annual report to one-on-one donor communications. The subcommittee assures the right stories are told in the annual report – and they provide review, edits and final approval on the many pages of written material that ultimately become the text within its pages. Subcommittee members convene several times per year to
determine the graphic design and layout for items such as the annual report, the quarterly Chairman’s Letter, the UGA Foundation’s brand identity and for graphic design and ongoing updates to the University of Georgia Foundation’s website. The Board of Visitors Subcommittee is also an active group within the Development & Public Affairs Committee. They attend the quarterly meetings of the UGA Board of Visitors where influential Georgians, who may have had little previous familiarity with UGA, are exposed to a broad spectrum of information about the university, from academics and athletics to new facilities, campus life and the significant economic impact UGA has on the state of Georgia. In addition, Board of Visitors Subcommittee members help serve as ambassadors for the university by spreading the good news about new developments and great accomplishments coming from the University of Georgia every day. My sincerest thanks to my hardworking colleagues on the Development & Public Affairs Committee for their dedication to duty and unwavering support of the University of Georgia. Sheffield Hale – Chair The Development & Public Affairs Committee strategizes and implements foundation activities that support the university’s fundraising efforts and UGA’s outreach to the state’s business, civic and community leaders. In addition, the committee is responsible for overseeing the creation and dissemination of the foundation’s internal and external communications.
“Since my Journey to Costa Rica, my aspiration to become fluent in Spanish and learn more about Hispanic culture has prompted me to take an internship abroad to teach English. Moreover, my experience in Costa Rica helped solidify my desire to study international law with an emphasis on immigration.” – Sarah Wagnon Class of 2013 International Affairs and Spanish
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Com m it te e A ctivit y
Overview Foundation Fellows Committee Update 2012 was a truly outstanding year for the Foundation Fellows program and the University of Georgia Foundation is proud to manage donor gifts that make these honors possible. It was a time in which the university fulfilled its goal of attracting the best and brightest to Athens for the 2012-2013 academic year. The incoming class of Foundation Fellows and Ramsey Honors Scholars represents one of the largest ever to earn the university’s top academic awards. 26 high-achieving scholars accepted Foundation Fellowships and nine more were awarded Ramsey Honors Scholarships. More than nine-hundred applications were submitted by top students from around the nation and all 900 were among the very best at their respective schools. Many who were not among the newest group of Foundation Fellows or Ramsey Scholars have been accepted at institutions such as Harvard, Princeton and Stanford to name a few. That’s just how strong the annual competition is for these scholarships and the results speak for themselves. Four undergraduates in the Foundation Fellows/Ramsey Scholars program were awarded prestigious Goldwater Scholarships in the spring of 2012. (Left to right) Marianne Ligon, Victoria DeLeo, Theresa Stratmann and Buck Trible.
•T he freshman class of fellows boasts an average GPA of 4.16, an average SAT score of 1,540 (1,600 is perfect) and all achieved perfect scores of 36 on the ACT. • The freshmen Ramsey Scholars have equally impressive academic credentials, with an average GPA of 4.15, an average SAT score of 1,543 and an average ACT of 35.
Being chosen for a Foundation Fellowship or a Ramsey Honors Scholarship is not based just on outstanding academic records but also on the students’ scholastic and civic leadership and achievements in extra-curricular activities. The class includes 18 Foundation Fellows and five Ramsey Scholars from Georgia with eleven states represented by the other scholarship winners. In addition to the newest class, last spring, five scholars earned mid-term Foundation Fellowships and one earned a mid-term Ramsey Scholarship. These awards are made annually to currently-enrolled Honors Program students for outstanding academic achievement during their first two-years at the University of Georgia. In sum total, this brings to 75 the number of Foundation Fellows and 26 Ramsey Honors Scholars, one of the highest totals since the program’s inception in 1972. It is gratifying to watch as these outstanding young people take what they learn at UGA and advance into graduate studies or embark on their careers. Among the 2012 graduates of the program, students have moved on to such prestigious destinations as University of Chicago Medical, Vanderbilt Medical, Virginia Medical, Emory, UCLA, Harvard, Oxford and international study opportunities in China, France and the Middle East. Others have chosen to enter the workforce and have accepted positions on Wall Street, in Washington, D.C. and in other destinations around the world. I like to tell people that I have the best assignment among the committee chairs on the University of Georgia Foundation. When I reflect on the accomplishments of the young people who come through the Foundation Fellows and Ramsey Scholars program, and realize that we have the privilege of interacting with them and watching them grow academically, I have no doubt of my assessment! Congratulations to our recent graduates and welcome to campus to our newest scholars. On behalf of the Foundation Fellows Committee, we wish you the very best. I would also be remiss if I did not acknowledge the endowment funds that provide tremendous support which makes the Foundation Fellows program possible. The Philip Alston; Eugene Black; Carlyle Fraser; Vera Milner; Winship Nunnally; Martha Nunnally; William Morris, John White Ramsey, and Charlotte & Claude Williams; and Bernard Ramsey endowments all provide generous funding each year that allows us to offer these coveted scholarships to what are truly the “best and brightest” students in the nation. On behalf of the entire University of Georgia Foundation, I offer my sincerest thanks for helping us grow and enhance this program year after year. Mary Lou Swift – Chair
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Cu r r en t F o u ndation
Fellows and Schol ars About the Foundation Fellowship
The Foundation Fellows program seeks to foster a community of scholars and leaders by providing intellectual, cultural and service opportunities in an environment conducive to learning and personal growth through shared knowledge and experience.
Current Foundation Fellows Class of 2013 Sara De La Torre Berón, Athens, GA JoyEllen Ashley Freeman, Milton, GA Camille Parker Gregory, Brentwood, TN Bethany Cotten McCain, Johns Creek, GA Ryan Patrick McLynn, Johns Creek, GA Todd Warren Pierson, Zionsville, IN Derek Anthony Ponticelli, Roswell, GA Reuben Arthur Reynolds, Bainbridge, GA Matthew Wyatt Saltz, Baton Rouge, LA Waring “Buck” Trible III, Fredericksburg, VA Megan Nicole Unger, St. Marys, GA Lawrence William White, Alma, GA Addison Von Wright, Marietta, GA Brittany Anne Young, Lewisville, TX Class of 2014 Yuliya Bila, Canton, GA Sara Thomas Black, Mountain Brook, AL Jesse Yuen-Fu Chan, Hendersonville, TN Smitha Ganeshan, Alpharetta, GA Joseph Elliott Gerber, Lincolnshire, IL
Philip Joseph Grayeski, Bridgewater, NJ Osama Shariq Hashmi, Martinez, GA Anisha Ramchandra Hegde, Snellville, GA Paul Alexander Kirschenbauer, Chattanooga, TN Marianne Morris Ligon, Clemson, SC David Richman Millard, Athens, GA Clara Marina Nibbelink, Athens, GA Rachel Claire Sellers, Cumming, GA Blake Elizabeth Shessel, Atlanta, GA Jeremiah Hudson Stevens, Tunnel Hill, GA Matthew Telford Tyler, Atlanta, GA Jacqueline Elizabeth Van De Velde, Brunswick, GA Kishore Pavan Vedala, Alpharetta, GA Cameron Saeed Zahedi, Alpharetta, GA Class of 2015 Joshua Andrew Chang, Duluth, GA Savannah Elyse Colbert, Austin, TX Megan Elizabeth Ernst, Atlanta, GA Parker Timothy Evans, Franklin, TN
Eilidh Geddes, Dunwoody, GA Sophia Helene Giberga, Covington, LA Ronald Jackson Kurtz, Duluth, GA Michael Tyler Land, Jasper, GA Kameel Mir, Marietta, GA Sarah Aneese Mirza, Grand Island, NE Gautam Rajhar Narula, Alpharetta, GA Davis Reynolds Parker, Huntsville, AL James Alexander Rowell, Valdosta, GA Grace Maastricht Siemietkowski, Washington, DC John Henry Tab Thompson, Columbia, SC Megan Frances White, Alpharetta, GA Avery Elizabeth Wiens, Atlanta, GA Class of 2016 Caroline Grace Coleman, Orlando, FL Alexandra Rae Edquist, Alpharetta, GA Lee Handly Folk, Nashville, TN Kirstie Dolores Hostetter, Collierville, TN Caleb Alexander Ingram, Richmond Hill, GA Shaun Henry Kleber, Atlanta, GA
Torre Elisabeth Lavelle, Macon, GA Christopher Thomas Lewitzke, Third Lake, IL Katie Ann Lovejoy, Charlotte, NC Kelsey Jane Lowrey, Dunwoody, GA Sandip Kaur Minhas, Richmond Hill, GA Caroline Elizabeth Moore, Myrtle Beach, SC Meredith Marie Paker, Madison, WI Eytan Aaron Palte, Atlanta, GA Rand Warren Pope, Barwick, GA Hannah Mary Reiss, Dectaur, GA Giovanni Righi, Lawrenceville, GA Leighton Michele Rowell, Sandy Springs, GA Madison Grace Snelling, Lexington, KY Minhyuk Michael Song, Lawrenceville, GA Karishma Sriram, Athens, GA John Bradley Stroud, St. Simons Island, GA Kevin Hongyi Sun, Johns Creek, GA Treva Chung-Kwan Tam, Roswell, GA Bert Ferguson Thompson, Jr., Macon, GA Laron-Chenee Heidi Tracey, Lawrenceville, GA
About the Ramsey Honors Scholarship
As part of its mission to enhance educational opportunities for outstanding student leaders, the University of Georgia Foundation is proud to fund the Ramsey Honors Scholarship program, one of the most prestigious scholarships at the University of Georgia. Established in 2000 in honor of the late Bernard R. Ramsey, UGA class of 1937, Ramsey Honors Scholarships are awarded to exceptional students to support leadership development, study abroad opportunities, honors-level academic achievement and scholarship.
Current Ramsey Honors Scholars Class of 2013 Glenn Ryan Branscomb, Lilburn, GA Frank Logan Butler IV, Macon, GA Trevor Hunter Hohorst, Leesburg, GA Yiran (Emily) Peng, Lilburn, GA Alexander Collins Vey, Hixson, TN
Emily Elizabeth Backus, Oak Ridge, TN Victoria Lynn DeLeo, Ft. Lauderdale, FL Amanda Jane Holder, Sag Harbor, NY Stephen Edward Lago, Roswell, GA Mariana Lynne Satterly, Watkinsville, GA Pranay Kumar Udutha, Marietta, GA
Class of 2014 Catherine Jane Backus, Oak Ridge, TN
Class of 2015 Cody James Baetz, Cumming, GA
Allison Nicole Koch, Cedar Rapids, IA Carmen Orpinas Kraus, Athens, GA Tuan Anh Nguyen, Douglasville, GA Abigail Taylor Shell, Sharpsburg, GA Class of 2016 Melissa Carlene Cousins, Midland, GA Lauren Wesley Dennison, Maineville, OH Berta Maria Franzluebbers, Watkinsville, GA
Samuel Thomas Johnston, Birmingham, AL Swayamdipto Misra, Martinez, GA Rachel Hana Paleg, Silver Spring, MD Mihir B. Patel, Martinez, GA Juliana Jianquan Saxton, Marietta, GA Kathleen Elizabeth Wilson, Beaumont, TX
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Overview Real Estate Committee Update The Real Estate Committee’s primary responsibility is to provide oversight to the foundation’s real estate transactions, ensuring properties are managed in a way that meets donor requirements and provides the greatest benefit to the University of Georgia. This may include dedicating gifts of real property for use as field laboratories or other outdoor learning facilities to support academic programs, or selling properties so that proceeds may be invested for the financial benefit of the university. Although real estate market conditions remained soft, several transactions occurred during the 2012 fiscal year. The foundation received a gift of archeological importance in Stewart County, Georgia which will be transferred to the university for use in research. Two sales also occurred during the fiscal year, as the committee oversaw disposition of acreage owned by the foundation in the Georgia counties of Franklin and Lee. In addition to gifts of raw land and property, the Real Estate Committee is responsible for overseeing and reviewing management of more than 7,000 acres of timberland assets and international teaching facilities held by the foundation.
Joe Frank Harris Commons on East Campus houses student dining facilities and meeting space. It also serves as a host site for a wide array of student activities each year.
“Being able to immerse myself in a different culture and document my adventures through art was an eye opening experience. I really gained a deeper understanding of culture and communication through art and every adventure on my trip. The UGA Costa Rica Foundation Incentive Scholarship made this study abroad opportunity possible for me. I am extremely grateful for the opportunity.” – Jillian Luse Class of 2012 Art Education
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University of Georgia Foundation – Annual Report
The dean of the Warnell School of Forestry and Natural Resources is the foundation’s designated forestry agent for the timber assets. The dean and his staff provide timberland management activity reports to the committee containing annual operating budgets for each property. The committee reviewed and approved the current budgets and management plans provided by the forestry agent for each tract that it owns. Additionally, the committee monitors the fiduciary and physical status of the international travel-study facilities held by the foundation in San Luis, Costa Rica and in Oxford, England. Despite the ongoing challenges in all segments of the real estate market, I am pleased to report that the committee once again achieved its objective of providing oversight for the foundation’s property assets in such a way as to provide maximum benefit to the University of Georgia and its students. Charlie Williams – Chair
Investment Committee Update After back-to-back years of double-digit returns, fiscal year 2012 can be characterized as a period of consolidation, as the foundation’s investment portfolio was essentially flat for the year, declining 1.6%. Overall, the investment portfolio compares favorably to our benchmark, outperforming it over the one, three, five and ten-year investment periods. The fixed income portion of the portfolio delivered the strongest performance of any asset class, while private equity and real estate generated positive returns as well. Domestic equities significantly outperformed international and emerging market equities as Europe fell into recession amid austerity measures that squeezed consumption. Furthermore, uncertainty over the future of the European Union and its currency, the Euro, caused a “flight to safety” out of European assets and into U.S. assets, led by U.S. Treasuries. Emerging markets were hit by a slowdown in growth in China as exports weakened due to Europe’s woes. At the close of the 2012 fiscal year, the University of Georgia Foundation’s portfolio, valued at $564.4 million, was allocated across the following asset classes: 24.9 percent domestic equities; 16.4 percent international equities; 32.9 percent alternative strategies (private equity and hedge/absolute return strategies); 11.2 percent fixed income; 6.2 percent real estate; 5.7 percent natural resources; 2.3 percent U.S. Treasury inflation-protected securities; and 0.4 percent cash. Going forward, the portfolio will see a 2.5% increase in allocation to emerging market equities and a 2.5% decrease in allocation to alternative strategies as the portfolio is positioned to take advantage of the decline in emerging market equities that occurred in fiscal 2012. Emerging markets appear to be in a relatively healthy position with lower debt levels than developed markets and burgeoning consumer economies where higher savings rates and growing incomes may support robust domestic consumption over the long-term.
Trustees Bub Way, Charlie Williams and Abby Irby share a light moment during a break from a UGA Foundation board meeting in Athens.
Whereas since March 2009 it has paid to be invested in just about any asset, we may be at an inflection point in the market where greater diversification among asset classes begins to impact performance. Though we have seen some fits and starts of this in the latter half of fiscal 2012 with U.S. stocks significantly outperforming European stocks, for example, it may well still be early. Nevertheless, the investment portfolio is positioned with investment managers that have flexibility with our capital to take advantage of what could be some interesting opportunities in fiscal year 2013. In the first seven months of this calendar year (January 1 through July 30, 2012) our return is 6.1%, and after one month of fiscal year 2013 (beginning July 1, 2012) our investment returns stood at plus one percent. Joe Frierson, Jr. – Chair
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Com m it te e A ctivit y
Overview Finance & Compensation Committee Update The Finance and Compensation Committee is responsible for overseeing the foundation’s more than $750 million in assets and managing foundation revenues from donor gifts and investment returns. As part of its responsibilities, the committee reviewed and approved the foundation’s financial reports for fiscal year 2012. Through the generosity of our donors, the University of Georgia Foundation was able to continue using unrestricted funding for several important purposes including Charter Scholarships, National Merit Scholarships, study abroad scholarships, incentive scholarships, need-based scholarships and graduate fellowships. At the fall board meeting, the Finance and Compensation Committee received board approval to provide approximately $750,000 in scholarship funding from unrestricted budget reserves for the university to establish the Baldwin Scholarship program. The Baldwin Scholarship is designed to help fill a gap that exists between the Charter and Ramsey merit scholarships.
President and Mrs. Adams hosted trustees of the UGA Foundation in their home for a tremendous reception and dinner during the 2011 fall board meeting. A well-kept secret awaited as Chairman Young concluded his remarks. Known to but a few, the Redcoat Band’s Derbies unit slipped unnoticed into the president’s backyard and, led by Dr. Michael Robinson, director of the Redcoat Band, played a stirring rendition of The Battle Hymn of the Bulldog Nation, followed by the rousing favorite Glory, Glory, Dixieland.
The foundation’s unrestricted budget for fiscal year 2012 provided approximately $11.6 million in revenue and expenses of about $8.4 million. At the spring board meeting, the committee considered, and the board approved, a request from the university to reallocate approximately $3.2 million of the surplus to be divided among the Washington Semester Program, two endowed professorships, need-based scholarships and professional school scholarships. A breakdown of the foundation’s unrestricted and restricted funding in support of the university’s academic mission can be found on Page 27. For fiscal year 2012, the funding provided to the university from unrestricted funding included the following:
• $1.2 million in scholarship support • $1.9 million for student and faculty support • $2.0 million for academic initiatives • $.8 million in direct support for UGA Foundation offices, trustee administration and administrative services • $1.8 million for the External Affairs Division including support for the UGA Alumni Association • $.7 million for university programs such as special events, commencements, etc. • $.1 million for UGA administrative support
I was pleased with our ability to increase the foundation’s commitment to the university and would like to thank the dedicated members of the Finance and Compensation Committee for their hard work and professionalism. It was their dedication to duty that allowed us to advance an aggressive agenda in fiscal year 2012 that will benefit the University of Georgia, its faculty and its students in the year ahead. Ken Jackson – Chair
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Nominating and Governance Committee Update The Nominating and Governance Committee evaluates and nominates board candidates for consideration by the full board of trustees and is responsible for monitoring the performance of all UGA Foundation trustees and advisory trustees. Nominations for board positions are based on criteria that focus on helping the foundation fulfill its stated mission (see Mission Statement on page 3). Candidates are considered based on their individual areas of expertise, geographic location, ethnic diversity and giving capacity among other qualifications. The committee is also responsible for monitoring all matters involving corporate governance, overseeing compliance with ethical standards, and making recommendations to the board for action in governance matters. The committee met several times during the year and considered a long list of prospective candidates to fill board positions that would come open at the conclusion of fiscal year 2012. From that list, new trustee candidates were identified, vetted and ultimately elected, each by unanimous vote of the board. They include: • Neal Quirk – Elected trustee. Neal is a partner in the Atlanta-based law firm of Quirk & Quirk, LLC. • Vic Corrigan, MD – Advisory trustee. Vic is a physician in Atlanta Cardiology Group, PC. • Barry Storey – Advisory Trustee. Barry is co-owner of Hull Storey Gibson Companies, an Augusta-based commercial real estate enterprise. • Brenda Thompson, PhD – Advisory trustee. Brenda is a longtime and well-known patron of the arts in Georgia who serves on the board of advisors for the Georgia Museum of Art. In addition, four outstanding individuals who have served the foundation ably as advisory trustees were confirmed by the board for their first terms as elected trustees: • Kathryn Ash, an interior designer and owner of Kathryn Ash Interiors in Charlotte, North Carolina. In addition to her service to the foundation, she is a member of the advisory board for the UGA Honors Program. • Greg Gregory, the retired founder, president and CEO of Industrial Developments International one of the largest real estate developers in North America. • Rusty Lindner, chairman and CEO of The Forge Company, a Washington, DC-based commercial real estate company that specializes in large scale parking enterprises. • Robert Stolz, CEO of Charlotte, North Carolina-based Wurth Group North America, a world leading distributor of products serving the cabinet and woodworking industry. It is our honor to serve the University of Georgia and the foundation in fulfilling this committee’s important charge. I am most appreciative of the dedication and professionalism exhibited by our committee members. I offer my thanks for their hard work which resulted in a productive and successful 2012.
This memorial is appropriately located just outside of Hardman Hall, home to UGA’s Air Force Reserve Officer Training Corps.
Dan Amos – Chair
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Overview Audit Committee Update The Audit Committee is charged with overseeing policies and procedures essential to ensuring the financial integrity of the University of Georgia Foundation. The board’s consistent adherence to principles of ethical management and accounting has helped assure donors that their gifts are not only managed in accordance with their wishes, but in a manner that provides maximum benefit to the university. In fiscal year 2012, the Audit Committee issued a Request for Proposal, reviewed submissions and interviewed representatives from three of the nation’s “Big Four” accounting firms to conduct an audit of the University of Georgia Foundation. While all firms bidding on the business offered outstanding credentials and gave the committee great confidence in their respective abilities, the committee selected KPMG of Atlanta to complete a review of the foundation’s records. The firm had representatives onsite at the foundation’s headquarters in Athens before the close of fiscal year 2012 and the KPMG team was on track to complete the audit by our fall board meeting.
“As someone with diverse interests, I knew pretty early on that I was interested in studying things with tieins across disciplines. My freshman year, I did a directed reading through CURO on Shakespeare’s work from the perspective of cognitive theory. A highlight of my time at UGA was my fall 2011 study abroad at Oxford, where I took tutorials in genetics and physiology. These courses challenged me to truly take the material into my own hands, and I really felt compelled to engage the material and dig deeper. Ultimately, the semester was a rewarding and eye-opening experience, on both an academic and a personal level.” – Lian Peters Class of 2013 English
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University of Georgia Foundation – Annual Report
In addition, the committee fulfilled its responsibilities in the following areas during fiscal year 2012: • Reviewed and approved fiscal year 2011 audited financial statements for the Arch Foundation and the UGA Foundation. • A subcommittee of the Audit Committee reviewed expenditures from the President’s Fund for fiscal year 2012 and submitted their findings for examination by an independent auditing firm. A final report is to be shared with the full UGA Foundation board at the fall meeting. • Reviewed and approved submission of the expanded 990 tax form for fiscal year 2011. It was a privilege to serve with such an outstanding group of professionals on the committee. I wish to thank each for their dedication to duty in maintaining the resolute financial practices that are vital to ensuring the University of Georgia Foundation continues to prosper and fulfill its mission. John McMullan – Chair
Costa Rica Corporation Update The University of Georgia Costa Rica campus in San Luis de Monteverde provides an unparalleled learning environment for students, and also is recognized as an important part of the local community. UGA Costa Rica now has more than 20 annual programs with courses directly serving more than 30 major degrees. In fiscal year 2012, 338 UGA students, faculty and teaching assistants participated in study abroad coursework at the Costa Rica campus. New programs in housing and consumer economics, theatre and film studies, and coffee technology all became part of the curriculum offerings at the Costa Rica campus in fiscal year 2012. UGA Costa Rica, which is a premier eco-travel destination, welcomed more than 2,000 guests in fiscal 2012 for a total of over 9,130 bed-nights (number of guests x number of nights lodging), with an average stay of five nights. Among the visitors were students, not just from the University of Georgia but dozens of other educational institutions. They were joined by a regular stream of faculty, researchers and tourists interested in experiencing the unique environment firsthand. Perhaps no visitor in 2012 brought more smiles than UGA’s mascot, Hairy Dawg, who spent time entertaining staff members and students on campus and surprising a happy group of children at the local public school. Hairy found time to complete coursework at the UGA campus and participated in many of the fun activities available to students such as nature hikes and zip lining. 2012 was an important year for improvements and additions to campus infrastructure. Funding was secured to install a state-of-the-art biodigester, a sustainable solution to treat waste water from the campus. The biodigester also doubles as an active educational tool for onsite studies related to sustainable living. Funding was also secured to build a new housing unit for faculty and research scientists that will provide handicapped accessible accommodations. Finally, in the spring of 2012 videography students from UGA spent several weeks onsite laying the groundwork for a video documentary showcasing the campus, the students and the experiences that are uniquely UGA Costa Rica. The documentary is being developed for airing on the university’s TV station, WUGA-TV, and will be offered to Georgia Public Broadcasting and PBS for their consideration. The documentary will showcase the Costa Rica campus as a premier travel-study and eco-tourism destination with the ultimate goal of increasing year-round occupancy rates. Gail Hunnicutt – President
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Donor F u nded
C h a i r s a n d P r of e s s or s h i p s E n d o w e d i n t h e U G A F o u n d at i on
SR VP Academic Affairs Units Louise McBee Professorship in Higher Education Zell Miller Distinguished Professorship in the Institute of Higher Education University of Georgia Foundation Professorship in Engineering Georgia Power Mickey A. Brown Endowed Professorship in Engineering College of Agriculture and Environmental Sciences Allan M. Armitage Professorship GA. Power Professorship in Environmental Remediation & Soil Chemistry Michael A. Dirr Professorship John Bekkers Professorship in Poultry Science Richard B. Russell Agriculture Professorship Robert and Jean Fowler 4-H Agent Endowment Lund Professorship in Urban Entomology & Structural Pest Management GRA Eminent Scholar Chair in Crop Genomics U.H. Davenport Professor of Agricultural Engineering Fund Distinguished Professorship in Agricultural Marketing D.W.Brooks Agricultural Fund Vincent J. Dooley Professorship in Horticulture Athletic Association Professorship in Environmental Turfgrass Franklin College of Arts and Sciences Patel Distinguished Visiting Professorship in Indian Musical Arts Abraham Baldwin Professorship in Humanities William F. & Pamela P. Prokasy Professorship in the Arts Methvin Distinguished Professorship in Southern Literature Hamilton E. Holmes Professorship Georgia Power Professorship in Biotechnology University of Georgia Foundation Professorship in the Arts Barbara and Sanford Orkin GRA in Tropical and Emerging Diseases University of Georgia Foundation Professorship in Infectious Disease Haines Family Distinguished Professorship in Field Botany (Below Ground) Haines Family Distinguished Professorship in Field Botany (Above Ground) Ramsey GRA Eminent Scholar Chair in Microbial Physiology Mildred Goodrum Heyward Professor of Music Arch Professorship in World Languages and Cultures Jane Willson Professorship in Arts GRA Norman and Doris Giles Eminent Scholar in Genetics B. Phinizy Spalding Distinguished Professorship in History
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University of Georgia Foundation – Annual Report
Joyce and Carol Sterling - Goodman Professorship in English GRA Eminent Scholar Chair in Structural Biology (X-ray Crystallography) Amanda and Greg Gregory Chair in Civil War Era GRA Eminent Scholar in Bioinformatics George E. and Sarah F. Mudter Professorship in Cancer Research E. Merton Coulter Professorship in History Despy Karlas Professorship in Piano Albert B. Saye Professorship in History GRA Eminent Scholar in Molecular Cell Biology Ann and Jay Davis Professorship in Jewish Studies Harry and Jane Willson Professorship in Humanities David Crenshaw Barrow Professorship in Mathematics John Olin Eidson Chair in American Literature Charles H. Wheatley Professorship in Arts Helen Spencer Lanier Chair of English Wyatt & Margaret Anderson Professorship in the Arts Hugh Kenner Professorship A.G. Steer Professorship in Goethe Studies UGA Athletic Assoc. Distinguished Professorship in Biological Sciences Lars G. GRA Ljungdahl Distinguished Investigator Gary R. Sperduto Professorship in Clinical Psychology Athletic Association Professorship in Arts & Sciences University of Georgia Foundation Distinguished Professorship in Microbiology Covenant Foundation Professorship in Jewish Studies Lamar Dodd Professorial Chair of Art Fund Terry College of Business J. Rex Fuqua Distinguished Chair for Internet Strategy Synovus Chair in Servant Leadership Simon S. Selig Chair for Economic Growth W. Richard & Emily Acree Dean and Professors Chair Holding Nalley Distinguished Chair in Entrepreneurship Emily H. and Charles M. Tanner, Jr. Chair Coca-Cola Company Chair of Marketing L. Edmund Rast Professor of Business James Don Edwards Chair in Accounting C. Herman & Mary V. Terry Distinguished Chair in Business Administration #1 C. Herman & Mary V. Terry Distinguished Chair in Business Administration #2 C. Herman & Mary V. Terry Distinguished Chair in Business Administration #3
C. Herman & Mary V. Terry Chair in Business Administration #4 C. Herman & Mary V. Terry Chair in Business Administration #5 Charles S. Sanford, Sr. Chair of Business Augustus H. Sterne Chair in Banking & Finance Herbert E. Miller Chair of Accounting Nicholas A. Beadles Professor of Economics I.W. Cousins Professor of Business Ethics Bradford McFadden Professorship of Personal Financial Management Bernard B. & Eugenia A. Ramsey Chair of Private Enterprise Earl Davis Chair in Taxation P. George Benson Professorship Robert O. Arnold Professorship in Business Georgia Bankers Association Chair of Banking Harold M. Heckman Chair of Public Accounting Dudley L. Moore, Jr. Chair of Insurance Daniel P. Amos Distinguished Professorship in Insurance William Harry Willson Distinguished Chair Georgia Athletic Association Professorship in Terry Robert W. Scherer Chair in Public Affairs in Corporate Communications College of Education Elizabeth Garrard Hall Professorship in Early Childhood Education Athletic Association Professorship in Math and Science Education Wheatley GRA Chair in Technology-Based Learning E. Paul Torrance Professorship in Creativity & Gifted Education Goizueta Foundation Chair for Hispanic Teacher Education Mary Frances Early Teacher Education Professorship Bebe Aderhold Professorship in Early Childhood Education Omer Clyde & Elizabeth Parr Aderhold Professorship in Research Methodolgy Omer Clyde & Elizabeth Parr Aderhold Professorship in Education College of Environment and Design Dan B. Franklin Distinguished Professorship Constance Knowles Draper Chair in Landscape Architecture Georgia Power Professorship in Environmental Ethics Athletic Association Professorship in the College of Environment & Design College of Family and Consumer Sciences Samuel A. & Sharon Y. Nickols Professorship
Georgia Power Professorship in Textile Science Anne Montgomery Haltiwanger Distinguished Professorship University of Georgia Foundation Professorship in Family and Consumer Sciences Janette McGarity Barber Distinguished Professorship Bill and June Flatt Professorship in Foods and Nutrition Athletic Association Professorship in Family and Consumer Sciences Georgia Soft Goods Education Foundation Distinguished Professorship William P. “Bill” Flatt Professorship Warnell School of Forestry and Natural Resources Hargreaves Distinguished Professorship in Forest Finance Stuckey Timberland Distinguished Professorship in Forest Economics & Taxation Wheatley GRA Chair in Water Quality Hank Haynes GRA Eminent Scholar Chair in Forest Biotechnology Odum School of Ecology Odum Chair in Ecology Fund Grady College of Journalism and Mass Communication Lambdin Kay Chair for the Peabody Awards Thomas C. Dowden Professorship in Telecommunications William S. Morris Chair in Newspaper Strategy & Management Carolyn McKenzie & Don E. Carter Distinguished Professorship in Journalism Jim Kennedy Professorship #1 Jim Kennedy Professorship #2 Jim Kennedy Professorship #3 Jim Kennedy Professorship #4 Georgia Athletic Association Professorship in Grady College John Carmical Distinguished Professorship in Sports Journalism and Society School of Law Verner F. Chaffin Distinguished Professorship in Fiduciary Law A. Gus Cleveland Distinguished Chair of Legal Ethics & Professionalism Alex W. Smith Professorship in Law Justice Thomas O. Marshall Chair of Constitutional Law John Alton Hosch Professorship of Law #1 John Alton Hosch Professorship of Law #2 John Alton Hosch Professorship of Law #3 John Alton Hosch Professorship of Law #4
John Alton Hosch Professorship of Law #5 Marion & W. Colquitt Carter Chair in Tort & Insurance Law Carl E. Sanders Chair in Political Leadership Otis A. Brumby Distinguished Professorship of First Amendment Law Robert Cotten Alston Chair in Corporate Law Harmon W. Caldwell Chair in Constitutional Law Pope F. Brock Professorship in Professional Responsibility M.E. Kilpatrick Chair of Corporate Finance & Securities Law Charles H. Kirbo Chair in the School of Law Allen Post Professorship of the School of Law Rogers Chair of Intellectual Property and Unfair Competition Law John A. Sibley Professorship in Corporate and Business Law Herman E. Talmadge Chair of Law Emily & Ernest Woodruff Chair in International Law Francis Shackelford Distinguished Professorship in Taxation Law Arthur K. Bolton Professorship Georgia Athletic Association Professorship in Law College of Pharmacy Terry GRA Eminent Scholar Chair in Drug Discovery Rite Aid Professorship in Community Pharmacy Albert W. Jowdy Professorship in Pharmacy Care Millikan-Reeve Pharmacy Professorship Panoz Professor of Pharmacy Fund Kroger Professorship in Community Pharmacy Wilson-Waters Enrichment Fund for College of Pharmacy Deans Athletic Association Professorship in Pharmacy College of Public Health Georgia Power Professorship in Environmental Health Science Ernest Corn Professorship of Infectious Disease Epidemiology John A. Drew Professorship of Healthcare Administration University of Georgia Foundation Professorship in the College of Public Health Athletic Association Professorship in Public Health School of Public and International Affairs Alexander M. Crenshaw Professorship in Public Policy Golembiewski Professorship in Public Administration Philip H. Alston, Jr. Distinguished Chair
Bertsch Directorship of the Center for International Trade and Security Albert B. Saye Professorship of American Government & Law George D. Busbee Chair in Public Policy Georgia Athletic Association Professorship School of Social Work Hollowell Distinguished Professorship of Social Justice & Civil Rights Thomas M. (Jim) Parham Professorship Pauline M. Berger Memorial Professorship College of Veterinary Medicine GRA Eminent Scholar in Animal Health/Vaccine Development Caswell GRA Eidson Chair in Poultry Medicine Harbor Lights Chair Small Animal Studies Marguerite Thomas Hodgson Chair of Equine Studies Barry B. Harmon Professorship in Veterinary Pathology Athletic Association Professorship in Infectious Disease University of Georgia Foundation Professorship in Veterinary Medicine Edward Gunst Professorship in Small Animal Medicine Fund James and Marjorie Waggoner Professorship of Small Animal Studies Fred C. Davison Distinguished University Chair Olive K. Britt-Paul E. Hoffman Professorship of Large Animal Medicine Georgia Athletic Association Professorship in Veterinary Medicine John R. Glisson Professorship in Veterinary Medicine Chair in Small Animal Studies Lalita and Raghubir Sharma Distinguished Professorship VP for Research Units GRA Eminent Scholar Chair in Nuclear Magnetic Resonance Spectroscopy GRA Eminent Scholar Chair in Bioenergy GRA Distinguished Investigator UGAF Distinguished Professorship in Biochemical Sciences Gene E. Michaels Chair in Medical Mycology College Experimental Station GRA Eminent Scholar Chair in Animal Reproductive Physiology VP for Public Service and Outreach Units Georgia Power Company Professor of Water Resources Policy
University of Georgia Foundation – Annual Report
17
Donor P r ofile
R a c h e l C on way Rachel Conway is an emeritus trustee of the University of Georgia Foundation and is CEO of House Parts, Inc., in Atlanta. She is one of the university’s most generous benefactors, supporting many causes to advance the university’s academic mission including campaigns for the Lamar Dodd School of Art, the Georgia Museum of Art and UGA’s Costa Rica campus. Below is a question and answer session with Ms. Conway which offers an insightful look at this wonderful woman. Can you give a brief overview of your personal and professional history? I was born during the Great Depression and was an only child. I have lived in Atlanta all my life. My childhood was joyful despite struggles during the war. I was always interested in art and began my undergraduate studies at the High Museum School of Art in Atlanta, where I took classes for three years. During that time, I also was able to fulfill my general education requirements at UGA’s Atlanta campus, which today is Georgia State University. In the 50s I transferred to UGA in Athens and studied art under Lamar Dodd, but I completed my degree at the Art Institute in Atlanta. I was a fashion model during the 60s and became the fashion and advertising director at the Merchandise Mart in the mid-1970s. In 1982, I purchased House Parts, Inc., which reproduced architectural components and detail, corbels, columns and capitals, as well as statuary and sculpture. I’d like to say that I had a plan and direction which led to success, but to be honest; it was the manifestation of different experiences and influences – and hard work. Who had the greatest influence on your life and why? My parents; their combination of dedication and determination has been an incredible influence on my life, both personally and professionally. My mother was generous, resourceful and kind. She was an early role model; she had a career even when I was a child. My father was my rock. He was stern and noted for his thorough honesty. I sought his opinion and approval on all my decisions. My father owned rental properties in Midtown Atlanta, all of which were in older neighborhoods, so I grew up appreciating the architectural integrity of historical structures. Can you discuss your love of art and what role that plays in your life today? Studying art enables you to see things from a different perspective. One would not necessarily assume an art student during the 1950s, or even today, would develop a successful company, but I believe this illustrates how the diverse aspects of one’s experiences come together. The ability to translate ideas into something that can be useful is an element of creativity and productivity. Personal experiences with art and architecture contributed to my enthusiasm for purchasing House Parts. What was it like studying art under the legendary Lamar Dodd? Professor Dodd encouraged the routine practice of techniques. As a drawing assignment, we were to bring in at least sixty quick sketches; one minute max. This prompted us to relax our drawing styles. I loved producing these serial renderings. He also encouraged students to experiment with different media. That reminds me of something I’ve never told anyone until now. Late one afternoon I was alone in the studio, working on a piece in encaustic, which is a wax medium. I had heated the turpentine with a burner and was slowly adding the wax when suddenly the mixture caught fire. There were flames and smoke that began smelling up the studio. I was terrified, thinking I had caught the fine arts building on fire. I don’t remember how I extinguished it, but I did. I never brought it up with Professor Dodd and he never inquired. Perhaps he was too kind to reprimand me.
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University of Georgia Foundation – Annual Report
What is your fondest memory of your time as a student at the University of Georgia? I had studied portrait painting with Ben Shute at the High Museum, and during my time in Athens, the university invited highly respected watercolorist Francis Chapin to come as a guest instructor. I was in one of his classes. Mr. Chapin and Mr. Shute were old friends, so Mr. Shute drove to Athens for a visit. They were going to a carnival on Baxter Street and invited several students to come along. I brought my conte crayons and charcoal. We were walking down the midway when a barker started calling us into a show. The two men thought we should go in, so we did and I began sketching. I still have three paintings (seen at right) that I made from those preliminary sketches. As a generous benefactor of the University of Georgia, what have you supported that is near and dear to your heart? In the early 1990s, UGA Fundraiser Greg Daniels visited me and told me about plans for the new Georgia Museum of Art. I subsequently met with Museum Director Bill Eiland, who runs a fantastic program with an unbelievable board of advisors. Bill works hard, is very talented and so enjoys what he does that I was delighted to help with that project. The Costa Rica program has also been one of my favorite programs. It had been in place for a number of years when the opportunity to purchase the property was presented. Of course, there were challenges involved in the acquisition of the Costa Rica campus, but as the deadline for making a decision approached, the foundation board voted in favor of the purchase. Today the Costa Rica campus is an incredible site of exploration, opportunity and research, with a committed faculty and staff. Costa Rica is brimming with monkey families and exotic species and colorful habitats, and the humming birds are literally everywhere. What did serving the university as a trustee of the UGA Foundation mean to you? My affiliation with the University of Georgia Foundation has been a most rewarding experience. In 1999, trustees GeorgeAnne Knox and Wicke Chambers encouraged me to join the board, and I was very appreciative of their invitation. As a trustee, I was particularly impressed with the generosity of the highly capable members who give so much of their time and talent to move the university forward. In your opinion, why is it important for graduates and others to support the University of Georgia with their gifts and service? Supporting education at every level is incredibly important. An educated citizenry will help solve the problems facing our great country, both today and tomorrow, and help lead us as a country. Supporting education is particularly important in tough economic times. It breaks my heart to think of these bright young individuals burdened with student loans. It’s very rewarding to help make higher education available to more students, and I encourage others to support their alma mater to help do just that. Having enjoyed success in the business world, what advice would you offer UGA students today with regard to fulfilling their degree requirements and entering the working world? The world has changed dramatically over the last two decades; technology is transforming life and commerce in ways I won’t presume to understand, much less predict. Today’s graduates are facing a difficult job market but also are openminded, innovative and mobile. Human knowledge is the ultimate resource and those who actively build their body of knowledge are those I believe will create new markets, ideas, products, opportunities, and ultimately, stimulate economic growth. All of that is another way of saying that one should never stop learning.
Paintings done by Rachel Conway.
University of Georgia Foundation – Annual Report
19
Donor P r ofile
K n o x Fa m i l y George-Ann & Boone Knox – Standard Bearers of a Proud History at UGA In the more than 227 years of its rich history, the University of Georgia has had many benefactors that have helped fund the tremendous physical and academic growth that has made it one of America’s great institutions of higher learning. Among the many families that have given over generations to the university, there are those whose continued support has left an indelible impression. One surname that can be found in many of UGA’s most important fundraising campaigns is that of the Knox family. Their generosity has enhanced the academic experience for many students and faculty and helped support construction of new facilities on campus. Prominent in the Knox family history are George-Ann and Boone Knox, both of whom served capably as trustees of the University of Georgia Foundation and have given generously over the years to a wide range of university campaigns. Sadly, George-Ann, the Knox family – and the University of Georgia – lost Boone in 2011 after a valiant battle with cancer. The impact of his loss is immeasurable, but his philanthropy will live forever in Athens, Augusta and his hometown of Thomson. Over the years, Boone and George-Ann supported the Terry College of Business and the Lamar Dodd School of Art, the latter of which honors their generosity with the George-Ann and Boone Knox Gallery of Prints and Drawings in the Georgia Museum of Art. “Having a gallery named for us is a wonderful and very humbling tribute,” George-Ann says. “Of course we have great reverence for the Terry College too. Boone earned his B.B.A. from Terry in 1958 as have many members of the extended Knox family.” Closer to home in Augusta, Boone was credited with leading the fundraising campaign that brought the Salvation Army’s Kroc Center to downtown Augusta. The Kroc Center provides programs, facilities and services that promote positive life changing experiences for all people of the Greater Augusta Area.
The late Boone Knox and George-Ann Knox at the entrance to the gallery in the Lamar Dodd School of Art that bears their name.
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University of Georgia Foundation – Annual Report
Salvation Army Captain Todd Mason told the Augusta Chronicle, “The Kroc Center campaign absolutely could not have succeeded without Boone’s leadership. He led a campaign that was nearly three times bigger than any in Augusta’s history while in the midst of the worst economic downturn in generations.” Augusta State University also bears the family’s imprint. The Knox School of Accountancy was dedicated in 2009 after the family-run Knox Foundation provided a $2 million gift to honor the memory of Boone’s brother, Peter.
Today Boone and George-Ann’s eldest son Jeff carries on the family tradition as a managing trustee of the Knox Foundation and as a trustee of the UGA Foundation. “It is quite an honor for me to serve the university,” says Jeff. “The University of Georgia is very special to me. It gave me an opportunity to grow academically and to establish great friendships that have been an important part of my life. I am happy that I am able to give back through service on the foundation’s board.” Boone’s cousins Wyck, Andy, Larry and Bobby Knox are supporters of the university – and Wyck and his wife Shell Hardman-Knox are emeritus trustees of the foundation. Another cousin, Ruth Austin Knox is a University of Georgia Law School graduate and the current president of Wesleyan College in Macon. Then there is Jeff’s brother, Charlie, who graduated from the university, and Jeff’s son (and GeorgeAnn’s grandson) Jefferson Knox, Jr., who graduated from the “One of the most rewarding and exciting times Terry College in 2011, making him the first of his generation in my life was this past fall. I interned for a to earn a degree from UGA … and that really only begins to congressional representative in Washington D.C. scratch the surface of how far the Knox family extends. for a full semester. It was love at first sight; DC
is a beautiful city, and I honestly enjoyed every moment that I spent there. As a congressional intern, I had the opportunity to conduct extensive legislative research, monitor day-to-day hearings, manage constituent communications and assist with general policy matters. Through UGA’s Washington Semester Program, I was able to receive 14 hours of course credit through interning and taking two great UGA political science classes while I was in DC.” – Elena Gomez Class of 2012 International Affairs and Spanish
Speaking about the family’s annual Christmas gathering, George-Ann says, “Every December, there are about 85 or 86 members of the Knox family on hand and it is always a wonderful time.” Three children, 12 grandchildren (11 boys and one girl) and a great-granddaughter who was born in 2011 are direct descendants of Boone and George-Ann Knox. Considering the larger family tree and the different branches of their lineage, it is clear to see that the Knox family is going to continue building on a rich tradition at the University of Georgia and throughout the state for generations to come – and we’re all better off as a result.
The sculpture above is one of many works that adorn East Campus in the area connecting the Lamar Dodd School of Art, the Georgia Museum of Art, the Hugh Hodgson School of Music and the Performing Arts Center.
University of Georgia Foundation – Annual Report
21
F acu lt y P r of il e
Dr . S t e v e n S t ic e GRA Eminent Scholar Chair in Animal Reproductive Physiology If you ask Steve Stice what he does, he’ll give you a fairly straightforward answer. “We work in the area of stem cells to benefit people,” says Stice, director of the Regenerative Bioscience Center in the College of Agriculture and Environmental Sciences. But such a simple explanation of his work barely scratches the surface of the complex physiological research undertaken in his laboratory, or by Aruna Biomedical, Inc., the stem cell company he founded at UGA to commercialize his academic discoveries. “I have a unique situation here – the opportunity to work in industry while continuing to work in an academic lab,” Stice says. “The research is important and we have made some really nice breakthroughs, but we are always working toward the next one that will be better than the one we have just done.” Stice’s career seems to be characterized by breakthroughs and firsts. He is known for producing the world’s first cloned rabbit and was the first to clone bovine embryos from stem cells. He also was granted the world’s first patent on therapeutic cloning from adult cells. He attributes his scientific interest and entrepreneurial drive to his own genetic makeup. Born in Minnesota and raised in Illinois, Stice grew up among rural pastures on a homestead farm. His father, a patent attorney, was a “frustrated inventor” Stice says, but helped his son understand the processes of invention, patenting and business. The combination of growing up on a farm and an innate inquisitiveness led him into the field of animal science, which he studied as an undergraduate at the University of Illinois – and in which he received a master’s degree from the University of Iowa and a doctorate from the University of Massachusetts. It was at UMass that Stice started a company called Advanced Cell Technology – an enterprise that caught the attention of the University of Georgia. “I met Clifton Baile, who is and has been an eminent scholar of the Georgia Research Alliance (GRA). He is focused on economic development and recruiting people that have the potential to create revenue and jobs for the state,” Stice says. “So, Clifton Baile, along with representatives from the GRA and the university’s College of Agricultural and Environmental Sciences, made a recruiting trip to Massachusetts.” Stice was given the opportunity to do both academic research and form another start-up at UGA, an offer he couldn’t refuse. So in 2001, Stice – along with wife Tracey, daughter Danielle, and twin children Phil and Claire – moved to Athens. With both a research laboratory and a private company, Stice is able to expose UGA students to both the academic and industrial sides of bioscience research, something he finds particularly rewarding.
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University of Georgia Foundation – Annual Report
“By having that opportunity, students can make certain choices in their lives, and a number of them have come back and said it was a great opportunity to see both sides,” he says. “I have had several students and faculty that have gone into business and several that have gone into the academic field. Really, the people that have come through the lab and have been successful in whichever side they pursue are the biggest rewards for us.” Stice also finds the work of using cellular physiology to improve peoples’ lives to be its own reward. His work in Massachusetts helped develop therapies for Sergeants disease, a type of blindnessrelated macular degeneration, which are now in clinical trials. A grant from the Bill and Melinda Gates Foundation is supporting his research into developing chickens resistant to New Castle disease in Africa – a disease that can destroy critical food stocks in a region of the world where food shortages are already an enormous challenge. Meanwhile his company Aruna Biomedical produces stem cells that are being used by some of the world’s leading pharmaceutical firms seeking to develop therapies for conditions such as Alzheimer’s disease and stroke. Stice is grateful for the support of the University of Georgia Foundation, which helps keep his lab running and ensures his research can continue to lead to greater discoveries. “It’s tremendous,” he says. “To do this type of cutting edge research is frankly very expensive. Without the funding we certainly would not be competitive and make the new discoveries that benefit people around the world.”
Steve Stice with colleague Franklin West at the UGA College of Agricultural and Environmental Sciences in Athens.
University of Georgia Foundation – Annual Report
23
F inancial
S tat e m e n t 600 $564
$554 $529
$530
The University of Georgia Foundation Financial Statement – Fiscal 2012
500 $453
400
The University of Georgia Foundation is committed to identifying and cultivating sources of support for the University of Georgia’s academic mission and equally dedicated to the fiduciary care of those funds so that the institution realizes the maximum, long-term benefit.
$442 $397
$386 $354
300
$290
$307
$293 $294
With generations of gifts from donors and a strong record of fiscal discipline, the foundation’s ability to fulfill this objective has remained constant, despite an extended period of economic uncertainty. The foundation is led by a group of skilled professionals with many years of experience in preserving and increasing capital holdings regardless of economic conditions and the track record speaks for itself.
200
100
0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Endowment Value Growth (Long-Term Pool)
Of course, this success is only possible because of donors who continue to support the university at levels that belie a tentative economy. Their generosity resulted in more than $102 million being donated to UGA in fiscal year 2012, of which $59.8 million was entrusted to the foundation’s stewardship to fund scholarships, faculty and academic programs and other essential needs.
25
15
21.1%
20.4%
20.3%
20 13.6%
12.7%
12.4%
10.7%
10
Natural Resources – 5.7%
5
Real Estate – 6.2%
0 -0.6%
-1.5%
-1.6%
-5 -10
As has become customary, the foundation’s investment performance once again outperformed its benchmarks and bettered most major market indexes as well. The value of foundation assets grew to approximately $754 million at the close of the fiscal year, June 30, 2012.
U.S. TIPS – 2.3%
-5.8%
-6.9%
Fixed Income 11.2%
Non-endowed Funds $175.2 million
Cash – 0.4% Domestic Equity 24.9%
-15 -20 -25
-23.96% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Long-Term Investment Return (net) History
Alternative Strategies 32.9%
Unrestricted Funds $61.8 million International Equity – 16.4%
Breakdown of Investments by Class
24
University of Georgia Foundation – Annual Report
Deferred Funds $14.8 million
Endowed Funds $502.4 million
Breakdown of Total Assets
The University of Georgia Foundation Statement of Financial Position Unaudited and Unconsolidated As of June 30, 2012
The University of Georgia Foundation Statement of Activities Unaudited and Unconsolidated For the Year Ended June 30, 2012 2012
2012
LT Investment Portfolio
$ 563,090,183
Other Investments
20,315,513
Cash & Equivalents
92,440,896
Real Property and Timber
30,798,308
Contributions Receivable
41,020,344
Other Receivables
1,796,529
Personal Property and Art Other Assets
Contributions
$ 37,247,711
Investment Return
(8,077,283)
Royalties
1,665,790
Other Income
7,404,734 38,700,396
2,419,405
Total Revenue
2,210,472
Scholarships & Fellowships
9,373,598
Donor Restricted Program Support: Total Assets
$ 754,091,650
Professor/Chair
3,045,604
Facilities
5,868,472 989,475
Accounts Payable
$ 5,930,478
Research
Deferred Affinity contract obligation
2,326,045
Center/Institute
657,045
Funds Held for Others
3,816,288
Athletics
424,820
Deferred Gift Obligations
11,012,617
Other University Programs
14,533,304
5,798,919
Foundation Operations
1,609,992
Alumni Association Operations
1,123,506
University Operations
5,666,103
Distributions to Beneficiaries
1,156,901
Other Expenditures
637,717
Total Expenditures
45,086,537
Change in Net Assets
$ (6,845,585)
Notes Payable Total Liabilities
28,884,347
Net Assets
725,207,303
Total Liabilities and Net Assets
$ 754,091,650
Audit Disclaimer
The numbers contained in this report have not been audited. A final, audited financial disclosure will be completed this fall and available for public review at the University of Georgia Foundation offices.
University of Georgia Foundation – Annual Report
25
Use of
Funds 2012: The National Science Foundation chooses UGA Costa Rica for a Field Stations and Marine Laboratories facilities grant of approximately $120,000. The funds, which will be used for renovation and improvements to the campus laboratory, fulfill a major need that will help keep the Central America campus as one of UGA’s and the nation’s top travel-study destinations. 2012: At the request of President Michael Adams and Provost Jere Morehead, the University of Georgia Foundation allocates $750,000 from unrestricted reserves for creation of the Baldwin Scholarships for high achieving students. The Baldwin Scholarships, which became available to students in fall 2012, help fill the gap between what some merit scholarships provide and the actual cost of attendance. 2012: New donor gifts to the University of Georgia Foundation top $59.8 million while the foundation allocates $41.7 million to the university in the same 12 month period to fund scholarships, chairs, professorships, research and critical campus building projects. This is accomplished while the foundation’s total assets grow in value to more than $754 million.
26
University of Georgia Foundation – Annual Report
Donor Gifts The University of Georgia Foundation is the primary entity which receives donor gifts to the university. As a trustee-led organization, the foundation is devoted to responsible stewardship of donor funds and perpetuating support to the university. Over the years, the foundation’s team has fostered relationships with friends and alumni, grown its donor base and deftly managed funds entrusted to their care, all of which has resulted in a growing endowment that helps assure a bright future for the university, its students and faculty. In fiscal 2012, donors gave more than $59.8 million in new gifts to the foundation. Gifts are defined under two broad categories:
Other Restricted Purposes $1,016,505 Property, Buildings & Equipment $5,743,635
Unrestricted $1,375,929
Athletics $512,796 Student Financial Aid $10,057,419 Library $3,935,249 Public Service & Extension $742,736 Research $373,246
Academic Support $30,997,472
Faculty and Staff Unrestricted gifts are those that are not Compensation designated for a specific use by the donor, $5,024,815 but instead are provided for the university to use where needed most. Unrestricted Donor Gift Designations for Fiscal Year 2012 gifts are extremely valuable, because they provide tremendous flexibility in that such funds can be applied to meet an immediate need or a university expense that may not have been anticipated in annual budgeting.
Restricted gifts are funds which the donor designates for a specific use. Those funds may be used only as the donor intends and may not be applied elsewhere. For instance, if a donor makes a contribution to help build a new statue on campus or to fund a specific scholarship, their funds will be used for no other purpose than that which they have expressly directed. These contributions are deposited across more than 2,500 separate funds managed by the foundation and disbursed as needed to fulfill donor wishes.
Supporting the University’s Academic Mission
UGA Foundation’s Support of UGA
In fiscal year 2012, the foundation’s expenditures were $45.4 million, of this amount; approximately $41 million was in direct support of the university’s academic mission as illustrated below.
55 $50.6
50 45 40
University Operations $5,666,103
Scholarships & Fellowships $9,373,598
Alumini Association Operations $1,154,952
$40.0 $41.0
35
$34.0
$33.0
$33.9
30 25
$20.5
$22.9
$26.2
$24.8
$27.9 $19.13
20 15
Professorships & Chairs $3,045,604
Other University Programs $14,533,304
Facilities $5,868,472
Athletics $424,820
Research $989,475 Centers & Institutes $657,045
10 5
$0.98
$1.36
$2.66
2002
2003
2004
$8.78 $0.71
$0.68
$0.24
2005
2006
2007
0
$2.34
$6.06
$1.79
2008
2009
2010
2011
2012
Total support to the University of Georgia (in millions) Total facility support to the University of Georgia (in millions)
The University of Georgia Foundation’s commitment to enhancing the University of Georgia’s academic mission is validated in the chart above that shows the tremendous growth in support provided to the university in the last decade.
UGA Foundation Support to UGA in Fiscal Year 2012
University of Georgia Foundation – Annual Report
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Emeritus Trustees, University of Georgia Foundation as of July 1, 2012 W. Richard Acree Acree Oil Company Toccoa, Georgia B. Heyward Allen, Jr. B. Allen & Co Inc. Athens, Georgia John G. Alston, Sr. JGA Capital Atlanta, Georgia Peter A. Amann Merrill Lynch Private Banking & Investment Group Atlanta, Georgia Robert E. Argo, Jr. Athens, Georgia W. Franklin Barron, Jr. Rome Coca-Cola (Retired) Rome, Georgia James D. Benefield, Jr. Atlantic National Bank St. Simons Island, Georgia Honorable Robert Benham Supreme Court of Georgia Atlanta, Georgia Howard E. Benson Benson’s, Inc. Athens, Georgia Upshaw C. Bentley, Jr. Fortson, Bentley & Griffin, P.A. Athens, Georgia Gary K. Bertsch University of Georgia Athens, Georgia Robert D. Bishop SunTrust Bank Athens, Georgia James H. Blanchard Jordan-Blanchard Capital Columbus, Georgia David E. Boyd Integro Insurance Brokers Atlanta, Georgia
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Jenny Lynn Bradley Savannah, Georgia W. Waldo Bradley Bradley Plywood Corporation Savannah, Georgia Garry W. Bridgeman Merrill Lynch Atlanta, Georgia Maxine H. Burton Burton + Burton, Inc. Athens, Georgia James E. Butler, Jr. Butler, Wooten & Fryhofer, LLP Columbus, Georgia Clifford S. Campbell, Jr. C & S National Bank (Retired) Thomasville, Georgia Wicke O. Chambers Speechworks Atlanta, Georgia J. David Chatham Chatham Holdings Corporation Alpharetta, Georgia Maxine Clark Build-A-Bear Workshop St. Louis, Missouri John L. Clendenin BellSouth Corporation (Retired) West Palm Beach, Florida Rachel Cosby Conway House Parts, Inc. Atlanta, Georgia Frederick E. Cooper Cooper Capital, LLC Atlanta, Georgia Alston D. Correll, Jr. Atlanta Equity Investors, LLC Atlanta, Georgia Lynda B. Courts Atlanta, Georgia
University of Georgia Foundation – Annual Report
Richard W. Courts II Atlantic Investment Company Atlanta, Georgia
Ben H. Hall, Jr. Dublin Construction Company, Inc. Dublin, Georgia
Michael P. Marshall Georgia Capital, LLC Atlanta, Georgia
Thomas G. Cousins Cousins Properties Inc. (Retired) Atlanta, Georgia
Joe Frank Harris Harris Georgia Corporation Cartersville, Georgia
F. Abit Massey Georgia Poultry Federation, Inc. Gainesville, Georgia
Carlton L. Curtis Coca-Cola North America Atlanta, Georgia
Pierre Howard The Georgia Conservancy Atlanta, Georgia
M. Louise McBee Athens, Georgia
Chester C. Davenport Georgetown Partners, LLC Bethesda, Maryland
Julie E. Hunt J H Services, Inc. Tifton, Georgia
Arthur L. Montgomery The Atlanta Coca-Cola Bottling Company (Retired) Atlanta, Georgia
Beverly F. Dolan First Union National Bank (Retired) Charlotte, North Carolina
M. Douglas Ivester Deer Run Investments, LLC Atlanta, Georgia
Dudley L. Moore, Jr. Moore Investment Group Atlanta, Georgia
Vincent J. Dooley University of Georgia Athens, Georgia
Stiles A. Kellett, Jr. Kellett Investment Corporation Atlanta, Georgia
C. L. Morehead, Jr. Flowers, Inc. Retail/Wholesale Athens, Georgia
Thomas C. Dowden Dowden Communications, Inc. Cashiers, North Carolina
Martin E. Kilpatrick, Jr. Blackshaw Partners Atlanta, Georgia
William S. Morris III Morris Communications Company, LLC Augusta, Georgia
Robert G. Edge Alston & Bird, LLP Atlanta, Georgia
George-Ann W. Knox Augusta, Georgia
C. V. Nalley III Nalley Automotive Group Atlanta, Georgia
J. Don Edwards Terry College of Business Athens, Georgia William W. Espy The Espy Company Atlanta, Georgia Marcus Fechheimer University of Georgia Athens, Georgia Edgar J. Forio, Jr. Bank Executive (Retired) Atlanta, Georgia S. Taylor Glover Turner Enterprises, Inc. Atlanta, Georgia R. A. Griffin, Jr. Griffin Corporaton Valdosta, Georgia
Shell H. Knox Augusta, Georgia Wyckliffe A. Knox, Jr. Kilpatrick Townsend & Stockton, LLP Augusta, Georgia Jane Darden Lanier Atlanta, Georgia Thomas W. Lawhorne, Jr., MD Columbus Cardiovascular Surgery PC Columbus, Georgia Richard N. Lea Attorney Atlanta, Georgia Betsy T. Leebern Columbus, Georgia Earl T. Leonard, Jr. Terry College of Business Atlanta, Georgia
William H. NeSmith, Jr. Community Newspapers, Inc. Athens, Georgia Sanford H. Orkin Sanford H. Orkin Investments Atlanta, Georgia Alexander W. Patterson Alston & Bird, LLP Athens, Georgia William Porter Payne Gleacher & Company Atlanta, Georgia Martha W. Pierce Alpharetta, Georgia Patrick S. Pittard Heidrick & Struggles, Inc. (Retired) Atlanta, Georgia
John W. Ramsey Macon, Georgia John W. Rooker Rooker & Associates, Inc. Tucker, Georgia William A. Rooker, Jr. The Rooker Company (Retired) Atlanta, Georgia Carl E. Sanders Troutman Sanders LLP (Retired) Atlanta, Georgia Charles S. Sanford, Jr. Bankers Trust Company (Retired) New York, New York Frank W. Seiler Bouhan, Williams & Levy LLP Savannah, Georgia S. Stephen Selig III Selig Enterprises, Inc. Atlanta, Georgia Peter J. Shedd Terry College of Business Athens, Georgia Henrietta M. Singletary Albany, Georgia Taylor W. Smith TDCR Group Atlanta, Georgia William A. Sterne SunTrust Bank (Retired) Hilton Head, South Carolina Carl E. Swearingen BellSouth Corporation (Retired) Atlanta, Georgia Mary Virginia Terry The CHT Corporation Jacksonville, Florida Larry D. Thompson University of Georgia Athens, Georgia
W. Bradley Turner, Jr. W. C. Bradley Company Columbus, Georgia Norman L. Underwood Troutman Sanders LLP Atlanta, Georgia Soloman W. Walker, Jr. Soloman Walker & Associates Augusta, Georgia Ramsey T. Way Way Brothers, Incorporated Hawkinsville, Georgia Claude Williams, Jr. Williams & Company Athens, Georgia Jane S. Willson Sunnyland Farms, Inc. Albany, Georgia Robert R. Woodson John H. Harland Company (Retired) Stone Mountain, Georgia Lois C. Wooten Savannah, Georgia C. Richard Yarbrough BellSouth Corporation (Retired) Atlanta, Georgia William D. Young, Sr. General Wholesale Company Atlanta, Georgia
UGA Foundation trustees joined in the dedication of the Abraham Baldwin statue on North Campus during the 2011 fall meeting. More than 150 people attended the ceremony, which was highlighted by a keynote address from President Adams, who then joined a group that included Loch Johnson, the political science professor who first presented the idea for a statue honoring Baldwin, U.S. District Court Judge Steve Jones, a trustee of the foundation and Alumni Association president, and others for the official unveiling.
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University of Georgia Foundation Committees: July 1, 2012 – June 30, 2013 Executive Bill Young - Chair Michael F. Adams Dan Amos Joe Frierson Jack Head Sam Holmes Ken Jackson John McMullan Read Morton Trey Paris John Spalding Mary Lou Swift Charlie Williams Investment Joe Frierson - Chair Charles Campbell John Crawford Darren DeVore Bill Douglas Bill Griffin John O. Knox John McMullan Stan Shelton Susan Waltman Harriet Warren Don Waters Advisory: Barry Storey Costa Rica Board Gail Hunnicutt President Jere Morehead Supervisor Bill Griffin - Secretary Cindy Coyle Treasurer Tim Burgess - Director John Neel - Director Stephen Smith Director Mary Lou Swift Director Advisory: Vic Corrigan 30
Finance & Compensation Ken Jackson - Chair Earl Barrs Terry Brown Jay Davis Darren DeVore Bill Douglas Mike Godwin Bill Griffin Sam Holmes Rusty Lindner Keith Mason Read Morton John Neel Charlie Williams Advisory: Ruth Bartlett Barry Storey
Nominating & Governance Dan Amos - Chair Terry Brown Jay Davis Sheffield Hale Jack Head Sam Holmes Ken Jackson Jeff Knox John O. Knox Bo Means Read Morton Trey Paris Neal Quirk Swann Seiler John Spalding Robert Stolz Charlie Williams
Real Estate Charlie Williams Chair Earl Barrs Nelson Bowers Norman Fletcher Mike Godwin Jack Head Jeff Knox Rusty Lindner Bo Means Swann Seiler
Foundation Fellows Mary Lou Swift - Chair Kathryn Ash Joe Frierson Mike Godwin Abby Irby Jimbo LaBoon Neal Quirk Wick Searcy Stan Shelton Stephen Smith Steve Smith Ex-Officio, Non-Voting: Jere Morehead Advisory: Vic Corrigan Brenda Thompson
University of Georgia Foundation – Annual Report
Development & Public Affairs Trey Paris - Chair Kathryn Ash Nelson Bowers John Crawford Greg Gregory Sheffield Hale Gail Hunnicutt Abby Irby Sissy Lawson Keith Mason Neal Quirk Wick Searcy Steve Smith John Spalding Robert Stolz Mary Lou Swift Susan Waltman Harriet Warren Ex-Officio, Voting: Nelson Hilton Steve C. Jones Ex-Officio, Non-Voting: Will Burgess Jerry Daniel Advisory: Brenda Thompson Audit John McMullan Chair Charles Campbell Norman Fletcher Greg Gregory Jeff Knox Jimbo LaBoon Sissy Lawson Swann Seiler Don Waters
The bell that sits in front of Snelling Dining Hall dates to 1915 and once was housed at nearby Myers Hall where it was used to signal students that it was dinnertime back in the day when the dorm also housed a dining room. It is known as the “Jennie Bell” in honor of Jennie Belle Myers who was housemother to thousands of students over many years and is the namesake of Myers Hall. The bell also served as a replacement for UGA’s famed Chapel Bell on North Campus when the latter underwent repairs in 2008.
Past Chairs, Board of Trustees 1937 – Present University of Georgia Foundation:
1985-1988 Thomas G. Cousins
2004-2005 Lynda B. Courts
1937-1958 Phinizy Calhoun
1988-1990 John E. Bailey
2005-2007 C. Read Morton
1959-1961 Harrison Jones
1990-1992 Richard W. Courts II
2007-2009 William D. Young, Jr.
1962-1970 Inman Brandon
1992-1994 Dudley L. Moore, Jr.
2009-2011 Samuel D. Holmes
1971-1973 Augustus H. Sterne
1994-1996 Shell H. Knox
2011-Present William D. Young, Jr.
1974-1976 Harry S. Baxter
1996-1998 Daniel P. Amos
Arch Foundation:
1977-1979 Jasper N. Dorsey III
1998-2000 C. V. Nalley III
1980-1982 Robert G. Edge
2000-2002 Patrick S. Pittard
1983-1985 Alex W. Smith
2002-2004 John W. Rooker
2005-2007 John P. Spalding 2007-2009 Norman S. Fletcher 2009-2011 Andrew M. Head
University of Georgia Foundation Board of Trustees as of July 1, 2012 Michael F. Adams University of Georgia Athens, Georgia
Edward J. Daniel, Jr. University of Georgia Athens, Georgia
Daniel P. Amos Aflac Incorporated Columbus, Georgia
Jay M. Davis National Distributing Company, Inc. Atlanta, Georgia
Kathryn L. Ash Kathryn Ash Interiors Charlotte, North Carolina Earl D. Barrs Knapp-Barrs & Associates, Inc. Macon, Georgia Ruth Ann Bartlett Frazier & Deeter, LLC Atlanta, Georgia Nelson E. Bowers II Bowers Transportation Group Lookout Mountain, Tennessee Terry S. Brown EDENS Columbia, South Carolina Timothy P. Burgess University of Georgia Athens, Georgia William M. Burgess University of Georgia Athens, Georgia Charles E. Campbell McKenna, Long & Aldridge, LLP (Retired) Atlanta, Georgia Victor E. Corrigan II, M.D. Piedmont Heart Institute Atlanta, Georgia John H. Crawford IV Crawford Investment Counsel, Inc. Atlanta, Georgia
Darren W. DeVore B & A Capital Holdings, LLC Marietta, Georgia William W. Douglas III Coca-Cola Enterprises Atlanta, Georgia Norman S. Fletcher Brinson, Askew, Berry, Seigler, Richardson & Davis, LLP Rome, Georgia Joseph C. Frierson, Jr. Merrill Lynch Athens, Georgia Michael H. Godwin Ambling Companies Valdosta, Georgia Henry D. Gregory, Jr. Atlanta, Georgia C. William Griffin Lender Processing Services Coraopolis, Pennsylvania F. Sheffield Hale Atlanta History Center Atlanta, Georgia Andrew M. Head Head Management Group, Inc. Atlanta, Georgia H. Nelson Hilton University of Georgia Athens, Georgia Samuel D. Holmes CB Richard Ellis Atlanta, Georgia
Gail J. Hunnicutt LaGrange, Georgia Sarah C. Irby Atlanta, Georgia Kenneth G. Jackson Shaw Industries Group, Inc. Dalton, Georgia Steve C. Jones U.S. District Court Atlanta, Georgia Jefferson B. A. Knox The Knox Foundation Augusta, Georgia John O. Knox, Jr. Peregrine Investment Advisors, LLC Atlanta, Georgia James L. LaBoon, Jr. Athens First Bank & Trust Company (Retired) Athens, Georgia Thomas S. Landrum University of Georgia Athens, Georgia Emily D. Lawson Mayor and City Council of Gainesville (Retired) Gainesville, Georgia Russell C. Lindner The Forge Company Washington, DC Keith W. Mason McKenna, Long & Aldridge, LLP Atlanta, Georgia John F. McMullan Camden Real Estate Company Atlanta, Georgia
Richard B. Means Means Atlanta Properties, LLC Atlanta, Georgia Jere W. Morehead University of Georgia Athens, Georgia C. Read Morton, Jr. Centennial Holding Company, LLC Atlanta, Georgia John S. Neel, Jr. The Stanford Company Macon, Georgia Thomas H. Paris III General Electric Atlanta, Georgia
Robert H. Stolz Wurth Group North America Charlotte, North Carolina Barry L. Storey Hull Storey Gibson Companies, LLC Augusta, Georgia Mary Lou C. Swift Licensed Professional Counselor Columbus, Georgia Brenda A. Thompson School and Clinical Psychologist (Retired) Greenwich, Connecticut
Neal J. Quirk Quirk & Quirk, LLC Atlanta, Georgia
Susan C. Waltman Greater New York Hospital Association New York, New York
William N. Searcy Brannen, Searcy & Smith, LLP Savannah, Georgia
Harriet H. Warren Higgins Asset Management (Retired) Atlanta, Georgia
Swann Seiler Georgia Power Company Savannah, Georgia
Don L. Waters Brasseler USA, Inc. Savannah, Georgia
Stanley W. Shelton Windham Capital Management, LLC Boston, Massachusetts
Charles S. Williams, Jr. Charles Williams Real Estate Investment Corporation Rome, Georgia
Stephen W. Smith, M.D. Peachtree Orthopedic Clinic Atlanta, Georgia
William D. Young, Jr. General Wholesale Company Atlanta, Georgia
The stone carving signifying the symbolic entrance to Ag Hill was dedicated by the Ag Hill Council in 1964 and has stood for the last 48 years as a sign of unity for South Campus and the organizations maintained through its colleges.
“The Foundation Fellowship means wearing my favorite colors, red and black, while I lead prospective students around our beautiful campus as a Visitor’s Center tour guide, engaging in compelling dinner seminars with outstanding professors and peers, and indulging in incredible international experiences in an Oxford University classroom, Peruvian mobile health clinic, and Indian diabetes research center. The Foundation Fellowship has given me the ultimate opportunity for personal and academic growth.” – Smitha Ganeshan Foundation Fellow, Class of 2014 Molecular Biology/Biochemistry Johns Creek, GA
Steven W. Smith Atlanta Public Schools Atlanta, Georgia John P. Spalding Cox Communications, Inc. Atlanta, Georgia
About the Back Cover: The steps that run between Park Hall and LeConte Hall join with the intersection of Baldwin Street and Sanford Drive forming perhaps the busiest crossroads on campus, traversed by hundreds of thousands every year. University of Georgia Foundation – Annual Report
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University of Georgia Foundation 394 South Milledge Avenue Suite 100 Athens, Georgia 30602 Telephone: 706.542.6677 Atlanta Line: 404.656.6206 www.ugafoundation.org