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Annual Report 2018 UCD Foundation

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Annual Report 2018 UCD Foundation Report Annual Annual & Financial Statements UCD Foundation Annual Report & Financial Statements 2018 01 Annual Report 2018 Report Annual UCD Foundation Contents Welcome from Supporting 02 our President 11 Students Thank you from Research 03 our Chairman 21 and Learning Our Mission Campus 04 and Our Vision 29 Development Governance Financial 06 37 Statements Our Work in 08 2017-2018 02 UCD Foundation Annual Report 2018 Report Annual Welcome from our President This report recognises the far-reaching influence that our alumni and donors at home and abroad have on all aspects of UCD. THROUGHOUT THIS REPORT, you will read of our many philanthropy is becoming essential to how we, as a successes and accomplishments in 2018 – inspiring stories community, support our students, advance our research that illustrate the impact of our donors’ exceptional contribution and campus infrastructure, and develop national and and generosity. I warmly thank all our alumni and donors for international collaborations. their ongoing support, commitment and encouragement to fulfil our role as Ireland’s leading and most global university. Our ambitious plans for the development of the Belfield campus continues at pace. UCD Confucius Institute for Ireland In UCD, we aim to develop the creativity and potential of opened its doors for the beginning of the 2018/2019 our students to respond to the challenges and opportunities academic year. In January 2018, we announced that an of the future. Underfunding of the sector continues to be exceptional donation from a close friend of UCD will realise our biggest financial challenge as student numbers increase. our ambition to develop a new, state-of-the-art running Despite these challenges, our student recruitment has held track and in July, we announced the winner of the Future up strongly, with UCD maintaining its place in 2017/18 as Campus architectural competition. In Autumn 2019, we look the university of first choice for CAO applicants, as well as forward to the opening of the new UCD Moore Centre for for international students coming to Ireland. The QS ranking Business – an extension of UCD Lochlann Quinn School of placed UCD as number 1 in Ireland and number 74 in the Business and the opening of MoLI, the Museum of Literature world for graduate employability. This encouragingly reflects Ireland. MoLI is a partnership between UCD and the our growing reputation for excellence in teaching and National Library of Ireland and will be a new landmark learning, our research impact, as well as our continuously cultural institution located in UCD Newman House, Saint improving campus facilities. It also demonstrates how Stephen’s Green. I hope you will be encouraged by this report. The philanthropy of our donors and alumni is enabling us to develop talent and is providing UCD with the potential I warmly thank all our alumni for future growth. To every one of you, thank you most and donors for their ongoing sincerely for your generosity and for your confidence in the work we do and the future we are striving to create. support, commitment and encouragement to fulfil our role Professor Andrew J Deeks UCD President 03 Annual Report 2018 Report Annual UCD Foundation Thank you from our Chairman As Chairman of UCD Foundation, I continue to be humbled and inspired by the philanthropy and generosity of our alumni, donors, and friends. I AM PLEASED TO REPORT that UCD Foundation raised d9.6M During the year, UCD made in 2018 for UCD and that over 4,000 alumni, friends, and corporate partners collectively and individually supported our significant progress towards campaigns, invested in our talented students and leading faculty, delivering some key pieces of invigorated our research and galvanised our capital development ambitions. It gives me great pleasure to acknowledge the infrastructure which will further role you are playing in the success of UCD. Thank you so enable world-class teaching much for your commitment and for believing in us. Alumni engagement and philanthropy are crucial to the ongoing development of UCD and integral to our success. As state funding continues to wane and as we strive to realise our ideals and make the world a better place, it is Team who have in turn invested and supported UCD important to reaffirm our commitment to effecting lasting Foundation. UCD Foundation now has a professional alumni positive change through philanthropy. This report highlights and fundraising operation that is strengthening the alumni our achievements and the impact of our alumni, donors, and and donor community with a sense of pride that makes friends. Together you are inspiring students to fulfil their them want to stay connected and engaged. UCD Foundation dreams, enabling faculty to excel in teaching and research, is working together with faculty, administrators, alumni, providing solutions to challenges and enabling UCD to donors, partners and supporters to offer transformational become a catalyst for economic and social growth. opportunities that matter – internships, graduate programmes, employment, mentoring, introductions, During the year, UCD made significant progress towards referrals, and financial support. delivering some key pieces of infrastructure which will further enable world-class teaching, learning, and research On behalf of UCD Foundation, I wish to thank our alumni, and which will help to deliver a sustainable and vibrant donors, and friends for their advocacy, volunteer leadership campus. We are excited about the transformative effect of and extraordinary generosity which is allowing us to realise these new developments and the impact Future Campus UCD’s ambitions and strategic vision. will have on our students, faculty, staff, and visitors alike. I also wish to acknowledge the leadership of UCD President, Cormac McCarthy Professor Andrew Deeks and the University Management Chairperson 04 UCD Foundation Annual Report 2018 Report Annual Our Mission To foster a lifelong sense of pride among our alumni and friends to inspire, engage and motivate them to support UCD. Our Vision UCD Foundation is supported by a proud global community who advance the future of UCD as a centre of excellence in learning, education and research. UCD Foundation 05 Annual Report 2018 06 Governance UCD Foundation Annual Report 2018 Report Annual UCD Foundation is a company limited by guarantee (incorporated in 1997, company number 266667), a charity registered with the Charities Regulatory Authority (charity number 20036461) and is registered with the Revenue Commissioners in Ireland (charitable taxation number CHY 12448). The Charity is governed by its memorandum and articles of association. Our objective or reimbursement of expenses from Foundation. Our financial accounts The sole objective of UCD Foundation UCD Foundation. The Board delegates are prepared in accordance with is to raise funds for the furtherance of the day-to-day management of the requirements of the Companies education and research carried out by the Foundation to the Directors of Act 2014 and the provisions of the University College Dublin (UCD). Development and Alumni Development Charities SORP, applicable to charities who are appointed by the Board. preparing their accounts in accordance Structure and management with the financial reporting standard UCD Foundation is governed by The Board is supported by an Audit applicable in the Republic of Ireland a voluntary Board of Directors Committee which met twice in (FRS 102). The Charities SORP is not responsible for providing leadership, 2017/2018 to review the Foundation’s yet mandatory in the Republic of setting the strategy and ensuring financial statements, internal financial Ireland and the Irish Charities Regulator control. The Board is made up of controls, risk management systems, has not yet prescribed accounting four directors who met four times in and external audit matters. regulations for Irish Charities. In the 2017/2018. The Directors represent absence of such prescriptive guidance, a diverse range of relevant expertise Transparency and accountability are the Board of Directors has adopted the and do not receive any remuneration central to the operations of UCD Charities SORP as it is considered best practice. The Directors acknowledge their overall responsibility for the Foundation’s systems of internal control. UCD Foundation is governed by a voluntary Board of Directors responsible for providing leadership, setting the strategy and ensuring control 07 Annual Report 2018 Report Annual UCD Foundation They have delegated responsibility for • The Audit Committee reports to families had no interest in the company the implementation of this system the Board on all aspects of controls or any other related companies on to the Directors of Development. This and risks. 30 September 2018. system includes financial controls, which enable the Board to meet Reference and Auditors its responsibilities for the integrity administrative information UCD Foundation is audited by and accuracy of the Foundation’s Directors and secretary PricewaterhouseCoopers and its accounting records. The directors and secretary, who served financial statements and annual reports throughout the year, except as noted, are published online after the Annual The Board has established a process were as follows: General Meeting. Financial statements of compliance which addresses are prepared in line with Charities the Boards’ wider responsibility to Directors SORP standards and the Companies maintain, review and report on all
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