University of Chattanooga Foundation 2021 Endowment Report

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UC Foundation endowments and annual scholarship programs supported approximately 1,270 UTC students during the 2020-2021 academic year. Three of those scholarship recipients—Taylor Morgan, James Gaither and Jada Cato (left to right)—represent different College of Health, Education and Professional Studies programs.

Morgan, a third-year student in the Doctor of Physical Therapy program, is the recipient of the Drs. Julie and Troy Bage Endowed Scholarship in Physical Therapy.

Gaither, a graduate school student in the Master of Secondary Education: Economics sequence, was awarded the Clayton Arnold Scholarship. Cato, a senior pursuing her Bachelor of Science in Nursing, is the UC Foundation Sarah Ruth Miller Ray RN Scholarship recipient.

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Message from the Executive Director

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A Passion for City and University

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Being a Brock Scholar Has Afforded Me Opportunities

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Mother’s Day Gift

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Students Have Enriched Our Lives

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Almost Any Obstacle Can Be Conquered

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More of an Investment Than a Gift

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A Call to Action

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Brotherly Love

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New UC Foundation Trustees

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Message from the Endowment Committee Chair

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Endowment Charts and Committee Members

20 South Campus Housing Spurred UTC Growth 22 Message from the Foundation Chair 23 2021-2022 UC Foundation Board of Trustees

I had long had the opportunity to observe the University of Tennessee at Chattanooga and the UC Foundation from afar before arriving in Chattanooga in February 2020.

LOFTON STUART

Interim Vice Chancellor for Development and Alumni Affairs and Executive Director of the UC Foundation, Inc. University of Chattanooga Foundation 605 Oak Street, Chattanooga, TN 37403 (423) 425-4232 | theucfoundation.org

For nearly two years, I have enjoyed being part of this campus community, and I am continually astounded by the commitment of the faculty and staff to putting UTC students first. It gives me hope, not only for the success of this campus but for the UT System as a whole, for the example being set here.

Working in a COVID-19 world has presented many obstacles, and I want to express my admiration and respect to the Office of Development and Alumni Affairs personnel and the UC Foundation Board of Trustees for their willingness to adapt in an ever-changing environment. Yes, there have been many challenges, including the difficulty of doing business in a traditional face-to-face setting and the inability to travel. But crises create opportunities, and we took advantage of alternative methods to conduct business.

Thanks to virtual and remote capabilities, we improved alumni engagement by growing our number of alumni connections, exceeding our objective.

The GOLD Leadership Academy, a program aimed to keep UTC graduates of the last decade active with this institution, was presented as a new and unique initiative to aid alumni development and serve as the foundation of leadership for their age group, establishing a lifetime relationship with these more recent grads.

Mocs Give Day, a 24-hour digital fundraising event, was launched. The collective UTC Mocs family—alumni, friends, faculty, staff and students—banded together socially and digitally to support the University; the first event earned more than $175,000, with 600-plus gifts coming from supporters in 42 states.

I want to express my continued gratitude to Chancellor Steve Angle, our staff, the UC Foundation board and the UT System for unwavering support during a difficult period. My time at UTC and with the UC Foundation has given me a greater appreciation of what a truly great university means to a community—and what a truly great community means to a university.

This rewarding experience ranks among the capstone events of my professional career.

Kim White joins the University of Tennessee at Chattanooga on Dec. 1 as the next vice chancellor for development and alumni affairs and executive director of the University of Chattanooga Foundation.

The position is multifaceted, with reporting structures involving three separate entities: UTC, the UC Foundation Board of Directors and the University of Tennessee Foundation, Inc. White is quite familiar with all three, having held multiple leadership roles at UTC and within the UT System over the past 18 years.

“Anybody that knows me knows there are two things that are always part of me, and it’s the passion I have for this city and the University; they go hand in hand,” says White, who received a Bachelor of Arts degree from UTC in 1982. “It’s exciting to be able to spend the next part of my career giving back to a University that has given so much to me.”

White has been president of the UTC Alumni Board and an active member of 4

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the UC Foundation Board, serving as chair from 2017 to 2019. In the process, she became just the second woman in the Foundation’s 50-plus year history to hold that position. She served on every Foundation committee, including the development, endowment and real estate committees.

In 2018, she was appointed to the UT (system) Board of Trustees by Gov. Bill Haslam, a role she will relinquish before assuming her position at UTC. “It is an honor to have the opportunity to become an official member of the University,” White says, “and to continue to move UTC forward by getting the community and donors behind students and student success.”

White was most recently president and CEO of River City Company—a nonprofit organization dedicated to Downtown Chattanooga’s economic growth and development—from 2009 to 2020.

Under her leadership, Chattanooga saw a renewed emphasis on downtown housing, improved connections with UTC and the creation of great public spaces.

“What I want to do is take the community engagement aspect and bring it to the table, to make sure that the community understands what a vitally important role UTC plays in the health of the city,” White says. “UTC is an economic driver. It’s a talent driver. People that love this city should be giving back to the University in a variety of ways.”

Lola Oke didn’t exactly have the typical summer experience.

Oke, a University of Tennessee at Chattanooga junior political science major and a Brock Scholar in the Honors College, was accepted into the Fulbright Canada Mitacs Globalink program. During the advanced research fellowship, which ran in a virtual setting between May and August, Oke worked with a University of Victoria-led team on a project titled “Racial Uprisings and the Responsiveness of Governments.”

If one competitive educational experience wasn’t enough, following a nationwide competition that drew more than 1,200 applicants, Oke was one of 20 undergraduates selected as a 2021 Charles B. Rangel International Affairs Summer Enrichment Program Scholar. During the sixweek program that ran from June 14-July 23, Oke attended virtual classes and events at diverse locations around Washington, D.C.,

including the U.S. Department of State, the U.S. Agency for International Development and the U.S. Congress.

For good measure, she even found a week to travel to Mexico for nonprofit servant leadership training.

“I think that was the peak of the stress level in terms of juggling everything,” Oke says, “but I was able to make it all work.

Combined, they made for a beautiful learning experience that focused on different aspects of my professional development. I’m grateful for all of it.”

And to think, she might not have come to UTC if it wasn’t for a scholarship.

Oke is a Brock Scholar, Probasco Scholar and an Oldham Scholar. Of particular importance was being accepted into the Brock Scholars Program, a four-year interdisciplinary program for academically gifted and motivated students who pursue an education that nurtures their intellects, sense of social responsibility and drive to lead.

The Georgia native says landing the Brock Scholarship was particularly meaningful, as it allowed her to qualify for in-state tuition.

“Being an honors student and Brock Scholar has afforded me opportunities and has enriched my academic experience,” Oke says. “These scholarships have allowed me a lot more freedom in terms of not having to juggle as many jobs as some students may have to in order to afford education.

Because of the scholarships, I am able to view my education as more of a privilege.”

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Norma Woodall Brown was a firm believer in giving people second chances.

Even though she didn’t have the opportunity to attend college, she believed in the value of higher education.

Because of an endowed scholarship in her memory, Brown’s wish to help University of Tennessee at Chattanooga students in need of second chances in their undergraduate degree pursuits is today a reality.

Doug Brown, a UTC alumnus, has established the Norma Woodall Brown Memorial Scholarship to honor his mother.

As an endowed scholarship, it will carry on in perpetuity; in essence, it is a gift that keeps on giving.

“I’m a self-proclaimed mama’s boy, and the reason I wanted to do this scholarship and help others was to honor her,” says Brown, 6

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now the chair of the UC Foundation. “She was a lady that I would say had grit and she obviously meant a whole lot to me.

“My mom was a real inspiration and a tough lady. She was diagnosed with breast cancer at the age of 38 and never complained. She went cancer-free for five years, then the cancer came back as bone cancer. And again, she never complained, never talked about dying.”

Norma Woodall Brown passed away on Dec. 24, 1989, at the age of 54.

“My mom didn’t get a chance to go to college,” Brown continues. “Her family was financially disadvantaged; her dad died of tuberculosis at a young age and there were no means for her to go to school.

“That’s the whole crux behind this scholarship, her grit and being a big believer in second chances.”

With that mindset, Brown set out to fashion a scholarship that would best embody his mother’s beliefs.

It is intended for older, non-traditional students (25 years and older) pursuing undergraduate degrees and having course credit accumulation equal to that of a senior.

It is designed for those whose lives got in the way. Such as those who find themselves a single parent or supporting a family or

­DOUG BROWN with dependents other than a spouse—or similar, and going to college only part time.

It is meant to propel someone over the top and to that elusive undergraduate degree.

“I know some people are not ready for college at 18 to 21 years of age, or something happens in their life where they’re not even able to come to college until later on in time,” Brown says. “I wanted this scholarship to be in the vein of giving somebody a second opportunity.

“Education is the great equalizer. If you take intelligent people with disadvantaged backgrounds and give them an opportunity to learn and get educated, they can go out and be wonderful, productive citizens.

Allowing somebody to reach their full potential is really exciting.”

Now a senior vice president and financial advisor for UBS Financial Services, Brown grew up in a working-class family in nearby East Ridge.

If UTC wasn’t close by, he might not have gone to college; his family couldn’t afford to send him away.

“UTC gave me a great opportunity that I would not have had had it not been here,” Brown says. “I worked for a company called Betts Engineering throughout college to pay my way through school. That’s one of the

reasons I’m so passionate about the UC Foundation and what it does with student scholarships.”

Brown went on to receive a bachelor’s degree in psychology in 1985. His wife, Jill, also is a UTC psychology grad; they first met as freshmen in the fall of 1979.

His son, Will, a creative writing major at UTC, is now an executive with Snap Inc.—a camera and social media company whose products include Snapchat and Bitmoji.

“UTC has played an important role in our lives,” Brown says, “and doing something for this institution has been on my mind for quite a while.

“I’ve been blessed and very fortunate, and I just felt like this scholarship was a great way for me to accomplish three things: I can honor my mother, I can honor my University and I can help a student.”

And what would his mom think about having a college scholarship in her name?

“I think she would be thrilled that there’s a scholarship out there for somebody that needs it,” Brown says with a smile, “but she would think it’s total nonsense that I am honoring her.”

pictured: Norma Woodall Brown | photo credit: Doug Brown

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To get a sense of how Debbie and Michael Bell think, look at a testimonial Debbie wrote for the University of Tennessee at Chattanooga Honors College web page.

“I retired from UTC after more than 40 years; my husband, Michael, retired a few months later,” Debbie penned. “The last 23 years of my working life were in Honors.

Beyond working with amazing students and dedicated colleagues, Michael and I were privileged to travel and to develop close personal relationships with many of the students. (In fact, we’ve attended 26 weddings, including 11 where honors students/alumni married each other!) We saw first-hand the impact that enriching opportunities and a community of shared experiences has on a student.

“Our lives were enriched through our association with Honors and we want to see students continue to benefit from what the Honors College offers. This is why we choose to continue our support of its mission to help students grow personally and professionally.”

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The Bells provided a combined 85 years of service to the University (Debbie 44, Michael 41). Following their recent retirements from UTC—Debbie in June 2020 and Michael in April 2021—they decided to include the Honors College in their estate plan, creating a planned gift that named the UC Foundation as a 40% beneficiary of their estate.

Those funds, when received, will be used to support the Gavin Townsend Memorial Travel Scholarship Endowment.

“If you can afford to make opportunities available to students, whether that is through scholarships or travel or mentoring—whatever the case may be—it’s a really positive thing, and I’m glad that we can,” Debbie says. “We don’t have children, so Michael and I jokingly talk about the students as our adopted children.

They have been very important in our lives.”

“None of us got where we are on our own; we all had people who helped us along the way,” Michael adds, “so the opportunity to contribute to somebody else’s success is important to us.

Being able to help students who might not have opportunities or resources is a way of paying back for the help we received from others.”

Debbie arrived on campus first, receiving a bachelor’s degree in English and American language and literature in 1976 (and later a master’s in education in 1990) before being hired as an administrative assistant in the Department of Psychology.

Michael joined the UTC Library staff in 1980, the first position in an academic setting offered to him out of graduate school. “I literally drove from Nashville to Chattanooga with whatever I

had in my dorm room from Vanderbilt,” he says, “and never left.”

“Possibly because he met me a year after he got here,” Debbie says with a laugh. “I came here for my bachelor’s and just stayed. It worked out very well for us.”

Over time, Michael progressed from reference librarian to head of circulation services to head of acquisitions to acting dean to assistant dean.

that I didn’t see before. For students to have that same kind of experience was pretty phenomenal.”

Says Michael, “I was a pair of willing hands and another pair of eyes on these trips, doing anything I could to shepherd students when we were abroad. Being part of that, you really got to know the students.”

Townsend passed away suddenly in the summer of 2018. After an endowed scholarship

Meanwhile, after stints in several different departments, Debbie was hired by Gavin Townsend in 1997 to work in what was then known as the University Honors program.

Participating in the day-to-day operations involving students was a turning point in the Bells’ lives. Thanks to Townsend, they were introduced to the world of travel.

“Gavin taught art history here at the University, and his mission was to introduce students to the world through art,” Debbie says. “He led these travel seminars and we went on every trip, leading students through the ancient sites, the great museums and art galleries.

“I loved traveling with him. When we went through museums, he made me appreciate things

was established in his honor, the Bells and many others began contributing to that fund.

The Bells’ planned gift, however, may have a significant impact on the endowment’s value.

“As Michael and I have seen, so many students have never been away from home, never been out of the South, never been out of the country, never been on an airplane,” Debbie says. “Being able to see 18- to 20-year-old students catching the travel bug has been a really rewarding experience for us.”

“The students have certainly enriched our lives,” Michael says, “and we’re pleased with the opportunity to give something back. We both feel the University has given us a lot over the past 40-something years.”

pictured, from left: Gavin Townsend and Michael and Debbie Bell touring together in Alaska. photo credit: UTC Honors College

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Growing up, Jerrell Lawson often fantasized about leaving his little Alabama community of Brundidge and traveling the world.

He saw that people in his neighborhood did not place a high value on education.

They worked and socialized, but they showed no desire to leave town.

Lawson was different. He could see where he wanted to go and decided that education and athletics could help him get there.

Lawson has been a star both on the field and in the classroom as a University of Tennessee at Chattanooga student-athlete.

The four-year starter at defensive back earned an undergraduate degree in business management in 2019 and a master’s degree in business administration in 2021.

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“I wake up every day thinking, ‘I’m going to show all these people that they can do it. That you can be playing football and go all the way to get your master’s,’” says Lawson, recipient of the Woodrow Wolford Sr. Scholarship.

Being able to attend UTC has brought Lawson “a countless number of valuable relationships and profitable knowledge and impacted my life, as well as my future, more than I would have ever imagined,” he says.

“Being from a small, country town in South Alabama, being raised by a single mother of three, battling stereotypes and tons of adversity, one would think that this journey has been just a dream.

“However, I can personally assure you that with the right support system and superiors that care so deeply for not only themselves but the entire culture, almost any obstacle in this world can be conquered.”

Lawson is now the first member of his family to graduate from college and earn an advanced degree.

“I understand how honored and privileged I am to be a recipient of this scholarship,” he says. “With every new goal I accomplish, I can guarantee that my UTC family will never be forgotten.”

Receiving a scholarship played a significant role in Noah Allen-Darden’s research pursuits, as it demonstrated the impact scholarships can provide for both students and degree programs.

Allen-Darden, a history major, was awarded the Ethel Chapin Morgan Scholarship for the 2020-2021 academic year by the University of Tennessee at Chattanooga’s Department of History.

“The Chapin Morgan Scholarship allowed me to go above and beyond academically in ways that I may not have been able to without the scholarship,” says Allen-Darden, a Fall 2021 graduation candidate from

Cleveland, Tennessee. “It was great to know that I had people on the faculty who were confident enough in me and my academic capabilities to select me for the award.

“History is a big passion of mine. I wanted to go into history because I’ve always loved it and I feel it’s one of those subjects that gives you a perspective on everyday life.”

Allen-Darden says the funding he received from the Chapin Morgan Scholarship, in conjunction with a second scholarship from the UTC Council of Scholars, allowed him to travel for research purposes to the University of Virginia Archives in Charlottesville.

Over the last year, he has been researching Harry F. Byrd, a long-serving senator from Virginia. From 1926 to 1930, Byrd served as governor of Virginia before representing the state as a U.S. Senator from 1933 until 1965.

“This scholarship has been extremely helpful. It’s really more of an investment than just an outright gift,” he says.

“This was so helpful in taking care of some of the expenses of college life, particularly in securing hotel accommodations when I went to Charlottesville. Receiving the scholarship allowed me to do some things that will help me stand out when I go into graduate-level studies.”

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In 2018, Gary and Kathleen Rollins made a $40-million commitment to name the Gary W. Rollins College of Business, by far the most substantial gift in the history of the University of Tennessee at Chattanooga.

The Rollins’ philanthropic investment has already had a significant impact on the college, providing critical assistance for students and faculty and funding present and future facilities. The contribution, as far-reaching as it was, was not the culmination of creative charitable effort; rather, it functioned as a springboard.

Around the time that gift was presented, Kim and Robert Dooley were sitting down and rewriting their will.

The Dooleys, who first met as undergraduate liberal arts majors at UTC, had long discussed doing something to support students at their alma mater. Kim received a bachelor’s degree in history (pre-law specialization) in 1986, while Robert—dean of the College of Business since 2011—received a bachelor’s degree in philosophy and religion in 1983 before subsequently obtaining an MBA in 1991.

The Rollins gift provided the impetus they needed.

“That really pushed us in a lot of ways,” says Robert of the Rollins’ financial commitment. Gary Rollins, a 1967 business graduate, is the chief executive officer of Rollins, Inc., the U.S.’s largest pest management company. Kathleen Rollins is the director of the Rollins Foundation.

“Thanks to the generosity of Mr. Rollins and Mrs. Rollins, it put us in the mindset of, ‘Wow, if they can do that, then all of us should be doing something, right?’

“We have this alumnus and his wife giving this transformational gift to the college and we wanted to be part of this and be contributors as well. Their gift motivated us to want to give even more.”

The Dooleys created the Kim and Robert Dooley Scholarship for International Study Fund. Leaning on their backgrounds

as liberal arts majors at UTC, the endowed scholarship is evenly divided to benefit students in both the College of Arts and Sciences and the Gary W. Rollins College of Business.

Scholarship preference is given to undergraduate students who have never had an international study abroad experience. The minimum GPA of 2.5 is intended to make the opportunity open to as many students within those two colleges as possible.

“I think it can make such a difference in students’ lives to be able to travel abroad,” Kim says. “It gives them a different perspective of the world, and not a lot of students have that opportunity. So every little bit that they can get can help them be able to do that.”

“We established the scholarship because we both would have welcomed the opportunity to study abroad when we were here,” Robert says, “but financially, neither one of us could afford to do that.”

During Robert’s stint as a faculty member at Oklahoma State University, the couple developed a passion for taking students on international trips, traveling to Southeast Asia and Africa to expose students to developing parts of the world. They note how rewarding it has been to watch students who had never traveled overseas before—and who were suddenly out of their comfort zone—engage and interact with local cultures.

“By the time they leave a study abroad trip,” Robert says, “they’re a little bit more self-confident. They’re much more self-aware in terms of their interaction with the world.

They have a little bit deeper understanding of the complexities of the world, and I think it personally transforms many of them.

“It puts in perspective where your life fits into the greater complexities of the universe.”

The Dooleys’ initial gift planning strategy has subsequently been supplemented by a significant estate contribution to strengthen and grow the scholarship.

“It feels great to be able to do this,” Kim says.

“When you see the impact a gift can have, you wish more alums would do something like this if they have the capability to do it.”

Says Robert, “Looking back at where we came from, to be back here on this campus and be in a position to be able to give back is extremely satisfying.”

ROBERT DOOLEY 2021 ENDOWMENT REPORT

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Several months after his father passed away in 2012, Jim Rogers Jr. had an idea: What could he and his brothers, Bruce and Steve, do to honor their dad’s legacy?

“Our dad was extremely fond of the University of Chattanooga and the University of Tennessee at Chattanooga. He loved the University,” Jim Jr. says. “I thought the best way we could remember him, and for others to remember him going forward, was to set up a scholarship.”

The late Jim Rogers was a 1955 University of Chattanooga graduate, earning a bachelor’s degree in engineering physics, and a former adjunct professor in the UTC College of Engineering and Computer Science. To honor his contributions as a professional engineer, community volunteer and teacher, his sons created the James W. Rogers Endowed Scholarship.

“We all felt that it would be something that he would really have loved to have known that we had done for him,” Jim Jr. says. “This 14

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is just a way to remember him and his love and his involvement with the University and teaching.”

As part of the scholarship, the brothers specified that recipients “embody a servant spirit, displaying initiative and service in the best interests of the University, their fellow students and the local community.”

Steve, the youngest of the three, said their dad would have wanted to meet scholarship recipients.

“He would have taken the time to get to know them personally,” Steve says. “I meet people all the time that, as soon as they find out I’m Jim Rogers’ son, they tell me, ‘Oh, your dad helped me out with this and he lived a life of service. He was just an impressive person.’”

After serving as a U.S. Air Force pilot and graduating from the University, Jim Rogers spent his professional engineering career at Combustion Engineering, an American-based, multi-national engineering firm that developed nuclear steam supply power systems in the United States.

He retired in 1984 to pursue his twin interests of teaching and volunteering.

He worked as an adjunct professor of mechanical engineering at the University for 13 years and was an active member of the UTC Alumni Council. “He loved working in that capacity with Jayne Holder, supporting various events around the campus and interacting with students,” Bruce recalls.

He also volunteered without fanfare with several Chattanooga-area charities, most notably the Chambliss Children’s Home and the local Ronald McDonald House.

BRUCE ROGERS “He worked as an engineer for 26 years and then volunteered for the next 27,” Steve says. “I don’t know how he ever got started with this, but he decided to work within the community; he would go around and pick up food every day. He’d fill up a van full of food and drive around, dropping food off at places in need of support. It was amazing what he did.”

All three Rogers brothers followed in their father’s engineering and University footsteps, graduating from UTC with bachelor’s degrees in mechanical engineering: Jim Jr. in 1974, Bruce in 1979 and Steve in 1990.

Interestingly enough, during Steve’s freshman year, his father was his instructor for an engineering graphics course.

“I had him at 8 o’clock in the morning three days a week,” Steve says, “and it was neat to see our father as a teacher instead of just as a father. He was a great teacher; he really was.

“I’ve run into people that had him as their teacher talk about how great he was and how he was willing to spend time in his office working one-on-one with students having trouble. These were the same kinds of stories I heard with the work he did with the food service.”

That spirit of service inspired the brothers to feature a service component as a scholarship requirement.

“One of the things we wanted was for students to have a service mindset,” Bruce says. “We hope the recipients will learn a little bit about who Jim Rogers was and the service he did. Maybe that will make a difference 30 or 40 years down the road and they’ll decide to give back or pay it forward.”

Bruce then cites thank you letters he and his brothers have received from scholarship recipients.

“Reading the notes, you can imagine yourself as that 18- or 19-year-old trying to make ends meet,” he says. “To read about what their education aim is and how the scholarship is helping them along just brings a smile to your face.”

The brothers say their father was never in it for personal glory. As Steve says, it would have been meaningful to him to know that students benefit from scholarship assistance.

“I think he would be thrilled to be associated with something that’s helping students along the way,” Bruce adds.

“I think it would be really heartfelt to him,” Jim Jr. says. “He had a big heart for everybody.”

pictured opposite: Bruce, Jim Jr. and Steve Rogers pictured above: Jim Rogers | photo credit: the Rogers family

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KELLY ALLING and her husband, Ted, are co-founders of Chattanooga Preparatory School, an all-boys public charter school that opened in August 2018. She is Chattanooga Preparatory School’s vice chair and a member of its Development and Facilities Committee.

SUZANNE N. FORLIDAS ’75 ’87 is former vice president, deputy general counsel and corporate secretary for Coca-Cola Enterprises, Inc., where her legal responsibilities included human resources, tax and corporate law.

She has bachelor’s and master’s degrees in education from UTC and a law degree from UT Knoxville.

DAVID A. BELITZ ’00 is CEO of the Lupton Co., which he joined in 1997 as controller and chief financial officer. He is a Lupton Family trustee and a member of the Benwood Foundation Investment Committee. He received his MBA from UTC.

KATHY KELLEY O’BRIEN ’90 is the Atlanta sales office director of market development for Unum. She volunteers with the Gary W. Rollins College of Business. She has a bachelor’s degree in accounting from UTC. She and her husband, Eddie, fund an international studies scholarship for UTC business students.

BEN BROWN is founder and chairman of Alderman Enterprises. He is a member of the board of directors for the Community Foundation of Greater Chattanooga, Baylor School and Southeastern Trust Co. The Probasco Chair of Free Enterprise in the Gary W. Rollins College of Business is named for his grandfather, Scotty Probasco.

DONNA C. WILLIAMS is the Principal for Live Urban Ventures. She has been a member of the City of Chattanooga Department of Economic and Community Development, the Chattanooga Metropolitan Airport Authority, the Chattanooga Community Housing Development Organization and the UTC Chancellor’s Roundtable.

ALAN L. CATES is a partner in Husch Blackwell. He is a member of the board of directors for Siskin Children’s Institute and serves on the UTC Planned Giving Council. He was a planned giving officer for UT Knoxville before entering private law practice in 1975.

ALBERT WOODARD ’74 is a founder and former chairman and CEO of healthcare technology company KaZee. He is a member of the UTC College of Engineering and Computer Science Board of Advisors. He has a bachelor’s degree in engineering science from UTC and was selected as the UTC Distinguished Alumnus in 2021.

MOLLY H. COOPER ’98 is the FUSE Operations Manager for the Hamilton County Sheriff’s Office. She is the board chair for the Children’s Advocacy Center of Hamilton County. She earned a bachelor’s in psychology from UTC and serves as the president-elect of the UTC Alumni Board.

The mission of the University of Chattanooga Foundation is to provide resources that support distinctive programs and promote bold initiatives that enrich the educational experience at the University of Tennessee at Chattanooga.

The Foundation serves as a catalyst for educating men and women for meaningful and productive lives by assisting in the attraction and retention of bright, dedicated, and diverse students and faculty; directly funding distinct initiatives; encouraging and participating in the incubation of creative opportunities; providing leadership and funding for the development of strategic partnerships; and engaging and overseeing the financial enhancement and alumni outreach of the University.

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The UC Foundation investment portfolio had a market value of $186.4 million on June 30, 2021. Generous contributions from alumni and friends of the University and earnings on our investments have fueled strong growth in the endowment in the past year.

The investment objective of the UC Foundation portfolio is that the average annual growth in market value from investment results will outpace our spending rate of 4%, expenses of 1% and inflation (estimated at 1.9%), or about 7% in total. Over the 10 years ending June 30, 2021, the portfolio outperformed our objective, generating an annualized return of 7.8%. Over the last five years, the portfolio generated a return of 10.0%.

In the latest National Association of College and University Business Officers study as of June 30, 2020, the top quartile for 10-year return was 7.83%.

The UC Foundation portfolio’s 10-year return of 7.8% was within close reach of the top quartile and above the median return of peer foundations (endowments between $101 million and $250 million), which was 7.2%.

Market conditions in recent years have caused us to shift the portfolio allocation toward venture capital and private equity and away from bonds. We have been guided in these decisions by an expert and dedicated Endowment Committee whose members are some of the best investment professionals in Chattanooga. I am grateful to work with them and be part of their work in support of UTC. The purpose of the UC Foundation’s investment portfolio guides us in all we do. This past year, earnings from the endowment supported approximately 1,050 UTC student scholarships and over 75 faculty through professorships. It is an honor to support the hard work of these talented students and teachers.

FRANK WILLIAMSON

Endowment Committee Chair for the University of Chattanooga Foundation, Inc.

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FY 2021 FY 2020 FY 2019 FY 2018 FY 2017 FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 $0M

$186.4 MILLION $147.1 MILLION $141.9 MILLION $131.8 MILLION $124.1 MILLION $113.1 MILLION $119.8 MILLION $115.5 MILLION $101.2 MILLION $90.2 MILLION

$50M

$100M

$150M

$200M

44 ENDOWED PROFESSORSHIPS

256 ENDOWMENTS

SUPPORT OVER 75 UTC FACULTY

SUPPORT APPROXIMATELY 1,050 UTC STUDENTS

NEW GIFTS TO ENDOWMENT IN FISCAL YEAR 2021 TOTALED

$11.9 MILLION

FOUNDATION ENDOWMENTS HAVE PROVIDED APPROXIMATELY

$138 MILLION

TO UTC SINCE 1969

Frank Williamson Chair Founder/CEO Oaklyn Consulting David A. Belitz ’00 CEO Lupton Company, LLC Ben Brown Founder and Partner Alderman Enterprises 18

UNIVERSITY OF CHATTANOOGA FOUNDATION

Betsy Blunt Brown CEO Pendleton Square Trust Company

Ashley Nichols ’09 Senior Investment Officer Unum

Mike Kramer Chairman Southeastern Trust Company

Ashlee Patten President and CEO, Portfolio Manager The Patten Group, Inc.

Ben Miller ’87 Vice President and Senior Managing Director (ret.)

Unum

Brett W. Rousch COO ELD Associates, LLC

ACADEMIC SUPPORT

$68,537,148

SCHOLARSHIPS

$41,816,919

PROFESSORSHIPS

$19,664,976

INSTITUTIONAL SUPPORT

$55,368,468

FACULTY DEVELOPMENT

$1,017,511

TOTAL

$186,405,021

ACADEMIC SUPPORT | 37.4% SCHOLARSHIPS | 22.8% PROFESSORSHIPS | 9.1% INSTITUTIONAL SUPPORT | 30.2% FACULTY DEVELOPMENT | 0.6%

Steven R. Angle, ex officio Chancellor University of Tennessee at Chattanooga Douglas A. Brown ’85, ex officio Senior Vice President/ Financial Advisor UBS Financial Services Zan Guerry, ex officio CEO Hamico, Inc.

ADVISORS Mike D. Brookshire ’86 Co-Managing Partner River Associates Investments Jennifer Goodman ’95 CPA/Principal Elliot Davis

Bento Lobo Department Head and UC Foundation Professor UTC Finance and Economics J. Patrick Murphy Attorney/Partner Waller Lansden Dortch & Davis LLP

2021 ENDOWMENT REPORT

19

Stophel Apartments, outside

Nearly 25 years ago, visionaries looked both ways and crossed the street. It was a decision that changed the landscape of the University of Tennessee at Chattanooga.

Back in the mid-to-late 1990s, UTC was known as a 9-to-5, Monday-to-Friday commuter school. With only a handful of residential housing options, the campus was a virtual ghost town every weekend.

The University didn’t seem ripe for any sort of expansion. Directly west of campus sat downtown Chattanooga. To the north, the Tennessee River and a trio of cemeteries. To the east, the historic Fort Wood neighborhood.

But on the south side of McCallie Avenue, just across from the University, was a declining neighborhood. Future-thinking UTC leaders envisioned an opportunity for growth by crossing McCallie and— after pitching the idea to the University of Chattanooga Foundation—buying land to build student housing.

Thanks to philanthropy, generous donations from the Foundation allowed for 20

UNIVERSITY OF CHATTANOOGA FOUNDATION

the construction of the Scott L. Probasco Jr. South Campus—a 1,668-bed, five-apartment student housing complex.

The investment and collaborative risk taken by the UC Foundation and UTC changed the trajectory of the institution.

Building the South Campus complex was a game changer, literally and figuratively growing the University. The substantial upgrade in campus housing options became an effective recruitment tool, increasing enrollment. Just as important, it became a focal point in changing the culture, transforming UTC from commuter school to a lively, seven-day-a-week campus.

Besides expanding housing for out-oftown students, most notably from the Memphis and Nashville metropolitan areas, UTC became an institution of choice for local students who wanted to live on campus and get the total college experience.

The largest housing complex on the UTC campus, South Campus is the landmark distinction between the University and the M.L. King neighborhood. The complex is comprised of five buildings: Guerry, Decosimo, Stophel, Walker and UC Foundation apartments. The three- and fourstory structures provide apartment-style living in a range of floor plan configurations.

UTC enrollment has gone up by approximately one-third since opening the five South Campus residential apartment complexes from 2001 to 2004. The buildings comprise nearly 47% of today’s UTC on-campus bed spaces.

Renovated Stophel Apartment, interior

Beginning in the summer of 2019, the UC Foundation engaged in a major renovation project on the Probasco South Campus housing complex. By the start of the 2021-2022 academic year, two of the five buildings— Guerry and Decosimo—and the top two floors of Stophel (the largest building, housing 158 apartments) had been fully renovated internally and externally. Currently, 230 of the 455 South Campus Housing Complex apartments are fully renovated; all exterior surfaces have been repaired, caulked, sealed and painted, while the roofs of three of the five buildings have been replaced.

The lower two floors of Stophel will be renovated in 2022. Walker is scheduled for the summer of 2023, followed by UC Foundation in the summer of 2024.

The renovations should give another 15 to 20 years of life to the buildings.

The total renovation project is expected to span six years with a cost of $44.6 million. The cost has been updated to include complete rehab of building elevators and assessment of parking garages.

Campus Development Foundation, Inc., a subsidiary of the UC Foundation, owns Probasco South Campus. UTC Housing and Residence Life manage the property via a management agreement with the UC Foundation.

2021 ENDOWMENT REPORT

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When I was 10 years old, my family took me to a basketball game at the University of Tennessee at Chattanooga. Going to Maclellan Gym to see the Mocs play was my first college experience, and I’ve been here ever since.

DOUG BROWN ’85

Chair of the University of Chattanooga Foundation, Inc.

22

UNIVERSITY OF CHATTANOOGA FOUNDATION

UTC provided me with a fantastic opportunity that I would not have had if it had not been so close to home. My family could not afford to send me away to college; I grew up in a nearby working-class neighborhood and worked my way through school. That’s one of the reasons I’m so passionate about the work being done by the University of Chattanooga Foundation.

I have always considered education the great equalizer, and the UC Foundation’s fundraising efforts directly benefit student scholarships. The Foundation is a crucial resource for UTC, providing critical financial assistance to University students. It is gratifying and rewarding to provide someone with the opportunity to learn, grow and realize their full potential.

Scholarship recipients will develop into excellent, productive citizens of Chattanooga and the surrounding region— as well as future leaders in the community.

While the UC Foundation’s overarching aim is to enhance student and faculty experiences by funding scholarships, grants and professorships, its legacy is one of generosity and philanthropy. As a proud alumnus of this University, I am honored to serve and contribute.

I hope you will join me in supporting UTC, our dedicated faculty and staff, and our outstanding students.

CHAIR Douglas A. Brown ’85 Senior Vice President/ Financial Advisor UBS Financial Services VICE CHAIR Ashlee Patten President and CEO, Portfolio Manager The Patten Group, Inc. TREASURER Steven L. Frost ’75 Chairman Tuftco Corp.

SECRETARY William B. Kilbride Chair TVA Board of Directors IMMEDIATE PAST CHAIR D. Michael Costello ’75, ’96 CPA and Shareholder Elliott Davis

T. Maxfield Bahner Attorney Chambliss, Bahner & Stophel PC Fred Decosimo Retired Elliott Davis Joseph F. Decosimo Retired Founding Partner/Senior Partner Emeritus Elliott Davis

Kelly Alling Co-Founder Chattanooga Preparatory School

Greg Scott Eaves ’86 CFO EPB

Steven R. Angle ex officio Chancellor University of Tennessee at Chattanooga

Suzanne N. Forlidas ’75, ’87 Retired Attorney

David A. Belitz ’00 CEO Lupton Company, LLC Alexis Guerry Bogo Executive Director Hamico, Inc. Randy Boyd ex officio President University of Tennessee Ben Brown Founder and Partner Alderman Enterprises Betsy Blunt Brown CEO Pendleton Square Trust Company Alan L. Cates Attorney, Partner Husch Blackwell LLC Charles D. Cofield ’15 (HON) COO/Business Owner ArrowStar & StarChem, LLC Nancy J. Collum ’78 Underwriter BrightBridge Capital, Inc.

Vicky B. Gregg Co-Founder and Partner Guidon Partners Keith Helton, M.D. ’87 Physician, CEO One to One Health Richard A. Johnson ’81 President, CEO RichNet Consulting, Inc. Mike Kramer Chairman Southeastern Trust Company F. Scott LeRoy ’79 Vice President/COO Southeastern Salvage/ Home Emporium 2nds in Building Materials, Inc. Ladell McCullough Partner (ret.)

Henderson, Hutcherson & McCullough, PLLC Ben Miller ’87 Vice President and Senior Managing Director (ret.)

Unum Ashley Nichols ’09 Senior Investment Officer Unum

John P. Guerry Retired

Molly H. Cooper ’98 FUSE Operations Manager Hamilton County Sheriff’s Office

Kathy Kelley O’Brien ’90 Director Market Development, Insurance Sales Unum

Zan Guerry CEO Hamico, Inc.

Jay W. Dale ’94, ’01 Market President First Horizon Bank

Scott L. Probasco III Chairman and CEO (ret.)

Livingston Company

John C. Thornton Chairman Thunder Enterprises, Inc.

David F. DeVaney President NAI Charter

Brett W. Rousch COO ELD Associates, LLC

BettyeLynn Smith ’74 Management Consultant/ Principal Thornhill-Smith LLC Roger P. Smith ’73 Vice President (ret.)

BB&T Huffaker Insurance Edna E. Varner, Ed.D. ’71, ’82 Senior Advisor, Leading & Learning Public Education Foundation Roy D. Vaughn Senior Vice President and Chief Human Resources Officer Blue Cross BlueShield of Tennessee Marie Webb Sr. Vice President, Human Resources and Chief Talent and Inclusion Officer EPB Miller Welborn Chairman of the Board SmartBank Donna C. Williams Principal Live Urban Ventures Frank Williamson Founder/CEO Oaklyn Consulting Clint Wolford President Wolford Development, Inc. Todd B. Womack ’95 President and CEO Bridge Public Affairs Albert Woodard ’74 Chairman/IT Consulting KaZee Inc. Jo Ann Yates Community Volunteer

2021 ENDOWMENT REPORT

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2021 ENDOWMENT REPORT PUBLICATION DIRECTOR Marty Smith EDITOR Gina Stafford WRITER Chuck Wasserstrom CREATIVE DIRECTOR Stephen Rumbaugh GRAPHIC DESIGNER Meghan Phillips PHOTOGRAPHER Angela Foster OTHER CONTRIBUTORS Harriet Chambers Angela Griffith Andrea Lyons Emily Sane Tracey Williams

©2021 University of Chattanooga Foundation, Inc.

UTC is a comprehensive, community-engaged campus of the UT System. UTC is an EEO/AA/Titles VI and XI/Section 504/ADA/ADEA institution. E040125001-014-22