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Annual Report on Gifts and Contributions 2014 - 2015 VIRGINIA STATE UNIVERSITY

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Annual Report on Gifts and Contributions 2014 - 2015 VIRGINIA STATE UNIVERSITY Annual Report On Gifts And Contributions 2014 - 2015 VIRGINIA STATE UNIVERSITY “I don’t know what the future may hold, but I know who holds the future.” RALPH ABERNATHY • • • • • • Alfred W. Harris founded present-day Virginia State University in 1882. It was then known as Virginia Normal and College Institute and represented the nation’s first fully state-assisted college or university for blacks. Today, only about one-third of VSU’s operating budget comes from state funding. A comprehensive university, VSU is one of two land-grant institutions in the Commonwealth of Virginia. Our mission is to promote and sustain academic programs that integrate instruction, research, and extension/public service in a design most responsive to the needs and endeavors of individuals within our scope of influence. The University educates over 5,600 students who are majoring in one of 34 undergraduate programs leading to a bachelor’s degree and 18 graduate level, master’s and doctoral programs. Ultimately, the University is dedicated to the promotion of knowledgeable, perceptive, and humane citizens – secure in their self-awareness, equipped for personal fulfillment, sensitive to the needs and aspirations of others, and committed to assuming productive roles in an ever-changing global society. Through community involvement, a challenging academic program, diverse student organizations and exciting extracurricular activities, Virginia State University is Building a Better World. VIRGINIA STATE UNIVERSITY ANNUAL REPORT ON GIFTS AND CONTRIBUTIONS 2014-2015 2014 | 2015 ANNUAL REPORT ON GIFTS AND CONTRIBUTIONS Table of Contents Message from the Office of Institutional Advancement ......................................................................1 Donor Bill of Rights ...............................................................................................................................3 VSU Board of Visitors ............................................................................................................................4 VSU Foundation Board of Trustees .......................................................................................................5 VSU & VSUF Combined Summary Report .............................................................................................6 VSU Endowments..................................................................................................................................7 VSU Statement of Net Assets ..............................................................................................................9 VSU Foundation Endowments.............................................................................................................11 VSU Foundation Balance Sheet ..........................................................................................................14 Endowment Performance ....................................................................................................................15 Annual Fund ........................................................................................................................................16 Tuition Assistance ...............................................................................................................................17 Alumni Giving ......................................................................................................................................18 Powell Society.....................................................................................................................................19 Corporate & Foundation Giving...........................................................................................................20 Presidential Scholars Benefit Golf Tournament ..................................................................................21 Scholarship Recipient Profile ..............................................................................................................22 Scholarship Awards ............................................................................................................................23 What’s Happening at VSU ..................................................................................................................24 VIRGINIA STATE UNIVERSITY ANNUAL REPORT ON GIFTS AND CONTRIBUTIONS 2014-2015 VIRGINIA STATE UNIVERSITY ANNUAL REPORT ON GIFTS AND CONTRIBUTIONS 2014-2015 MESSAGE FROM THE OFFICE OF INSTITUTIONAL ADVANCEMENT We are pleased to present the 2014-2015 Annual Report on Gifts and Contributions to Virginia State University. This was a challenging, yet special year for all of us, as VSU continues to strive to attract and retain the best and brightest students. Virginia State University began the 2015 calendar year at a crossroad. The University faced a multimillion dollar financial shortfall; student enrollment was steadily decreasing; and there was increasing discontent among students and alumni alike. However, through conservative budgeting and planning, along with a commitment to operate like the multimillion dollar business that it is, VSU wiped out a $19 million budget shortfall and finished the fiscal year with a $3 million+ surplus. Enrollment for both Spring and Fall semesters exceeded projections, allowing for a more robust student experience. Alumni and student pride was palpable, as indicated by record numbers of proud Trojans returning for Alumni Weekend and Homecoming. Every generation strives to make things better and provide a more positive experience for those who follow. The scholarships and endowment funds you support are educating today’s students who represent the next generation of professionals whose work will advance the living standards and quality of life for the world. At Virginia State University we are proud to be the vehicle that will transport our students into the future with confidence, a quality education and a sense of mission as they embark upon their respective careers or engage in graduate studies. We are encouraged and most grateful to have you as a partner on this journey. Thank you for your continued support of Virginia State University. Hail State! Hail State! Hail, Hail, Hail! 1 VIRGINIA STATE UNIVERSITY ANNUAL REPORT ON GIFTS AND CONTRIBUTIONS 2014-2015 2 VIRGINIA STATE UNIVERSITY ANNUAL REPORT ON GIFTS AND CONTRIBUTIONS 2014-2015 A DONOR BILL OF RIGHTS PHILANTHROPY is based on voluntary action for the common good. It is a tradition of giving and sharing that is primary to the quality of life. To assure that philanthropy merits the respect and trust of the general public, and that donors and prospective donors can have full confidence in the not-for-profit organizations and causes they are asked to support, we declare that all donors have these rights: I. VI. To be informed of the organization’s mission, To be assured that information about of the way the organization intends to use donated their donations is handled with respect and with resources, and of its capacity to use donations effectively confidentiality to the extent provided by law. for their intended purposes. VII. II. To expect that all relationships with To be informed of the identity of those serving on individuals representing organizations of interest to the the organization’s governing board, and to expect the donor will be professional in nature. board to exercise prudent judgement in its stewardship responsibilities. VIII. To be informed whether those seeking III. donations are volunteers, employees of the To have access to the organization’s organization or hired solicitors. most recent financial statements. IX. I V. To have the opportunity for their names to be deleted from To be assured their gifts will be used for mailing lists that an organization may intend to share. the purposes for which they were given. X. V. To feel free to ask questions when making a donation and to To receive appropriate receive prompt, truthful and forthright answers. acknowledgement and recognition. Developed by Endorsed by American Association of Fund Raising Counsel (AAFRC) (in formation) Association for Healthcare Philanthropy (AHP) Independent Sector Council for Advancement and Support of Education (CASE) National Catholic Development Conference (NCDC) Association of Fundraising Professionals (AFP) National Committee on Planned Giving (NCPG) Council for Resource Development (CRD) United Way of America Please help us distribute this widely. 3 VIRGINIA STATE UNIVERSITY ANNUAL REPORT ON GIFTS AND CONTRIBUTIONS 2014-2015 VSU BOARD OF VISITORS 2014-2015 Gubernatorial Dr. Alma Hobbs Appointments Board Member Mr. Harry Black Rector Mr. Frederick S. Humphries, Jr. Board Member Mr. Willie C. Randall Vice Rector Ms. Jennifer Hunter Board Member Mrs. Daphne M. Reid Secretary Mr. Xavier Richardson Board Member Mr. George K. Anas, II Board Member Mr. Huron Winstead Board Member Ms. Thursa Crittenden Board Member Student and Faculty Representatives Dr. Daryl Dance Dr. Milton O. Faison Board Member Faculty Representative Mr. Felix Davis, Jr. Mr. Hyisheem Calier Board Member SGA Representative Dr. Robert E. Denton, Jr. Board Member Mr. Terone B. Green Board Member Mr. Charlie Hill Board Member 4 VIRGINIA STATE UNIVERSITY ANNUAL REPORT ON GIFTS AND CONTRIBUTIONS 2014-2015 VSU FOUNDATION BOARD OF TRUSTEES 2014-2015 Mr. Frank Jones Mrs. Clementine S. Cone Chairman Board Member Mrs. Kimberley L. Martin Mrs. Beverly Everson-Jones Vice-Chair Board Member Mr. Samuel R. Rhue, Sr. Mr. Dante Jackson Treasurer Board
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