2018 ANNUAL REPORT 2018 JEFFERSON SCHOLARS FOUNDATION ANNUAL REPORT 01 INTRODUCTION 01 Letter from the President & Chairman 06 Board of Directors 09 DEVELOPMENT & FINANCE 10 Development Overview 12 Benefactors 18 Finance Overview 20 ENRICHMENT & EXPLORATION 22 Beyond Grounds: Shaping leaders to contribute throughout society 33 2018 YEARBOOK 34 Undergraduate Scholars 68 Graduate Fellows 88 National Fellows 92 Faculty 94 APPENDIX LETTER FROM THE PRESIDENT & CHAIRMAN When Mr. Jefferson created his University, he envisioned it as a place whose primary business would be producing leaders for a self-governing people. TIMOTHY J. INGRASSIA Key to his vision was a belief that education and freedom were linked Chairman inextricably and that individual talent and initiative were the sine qua non of leadership. Always a long-range thinker, Mr. Jefferson expected that the Commonwealth and the nation would be the beneficiaries of the leadership developed among students educated at his University. The Jefferson Scholars Foundation’s mission is grounded in Mr. Jefferson’s vision. The Foundation seeks to attract to the University the most promising students whose accomplishments in student government, creative endeavors, and other areas of individual challenge will set them on a path to make mature contributions to JAMES H. WRIGHT society after graduation. These contributions will benefit the world at President large long after their tenures on Grounds have ended. In 2017-18, the Foundation enjoyed another outstanding year. The 1 LETTER FROM THE PRESIDENT & CHAIRMAN 34th class of Scholars commenced from Grounds in May. In the class were two Marshall Scholars, two Fulbright Scholars, a Luce Scholar, a Schwarzman Scholar, and a Carnegie Endowment for International Peace Fellow. Other recognitions achieved by members of the class include recipients of the Algernon Sydney Sullivan Award and the Ernest H. Ern Distinguished Student Award. Eight members of the class lived on the Lawn, and the cumulative GPA for the class was 3.79. 36OUTSTANDING STUDENTS While the class of 2018 was exceptional, the Scholars who will be returning to Grounds this fall are well positioned to continue the legacy of excellence to which they are heirs. Among the returning Scholars will be a Gray Carrington Scholarship recipient, three vice chairs of the Judiciary Committee, the vice president of the Engineering Student Council, the Rodman Council president, and the Inter-fraternity Council 23DIFFERENT president. Additionally, eight Scholars will be living on the Lawn and STATES six will be pursuing master’s degrees, having already received their undergraduate degrees. Our 14th class of Jefferson Fellows completed their tenures with us this spring. Their record of publications in scholarly journals and presentations at scholarly conferences, along with the recognitions they receive for teaching excellence, continue to impress. Equally impressive are their devotion to the intellectual enterprise and their eagerness to 2 LETTER FROM THE PRESIDENT & CHAIRMAN share their knowledge with a wide audience. Just as we were bidding farewell and good luck to the graduating classes, we were preparing to welcome the newest Scholars and Fellows. The Jefferson Scholars Class of 2022 will be composed of 36 outstanding students from 23 different states. Our Graduate Fellowship ranks will include 12 new and very talented people selected from the Graduate School of Arts and Sciences, five new Darden Fellows, and four new Engineering Fellows. The National Fellowship Program will welcome seven new recipients. The new Scholars and Fellows have exemplary records and will make positive contributions to the University. 73 While enrolled, Jefferson Scholars have an outsized impact on the SCHOLARS AND FELLOWS University. Eleven Scholars have been Honor Committee chairs, six have HAVE been student body presidents, 10 have served as student representative RECEIVED to the Board of Visitors, and 15 have received the Ernest H. Ern PRESTIGIOUS Distinguished Student Award. Additionally, 262 have lived on the Lawn NATIONAL and 393 have been inducted in to the Raven Society. FELLOWSHIPS The reach and impact of the Jefferson Scholars Foundation extends well beyond the contributions made by the Scholars and Fellows while they are students. Seventy-three have received prestigious national fellowships including 10 Rhodes Scholarships and seven Marshall Scholarships. Each year the Foundation serves as ambassador for 3 LETTER FROM THE PRESIDENT & CHAIRMAN the University when it contacts 4,675 secondary schools in 61 regions around the country to promote the University and request nominations to the competition. This ambassadorial effort is led by approximately 1,000 friends and alumni who each year provide meaningful service on our selection committees. We now have 846 living alumni of our The Scholars’ undergraduate and graduate programs who are providing substantial leadership leadership to the University and their communities. Their professions motivation touch virtually every sector of society. The Shadwell Society Speaker is not self- Series and the Warren F. Chauncey Lecture Series each year draw centered; as hundreds of Charlottesville residents to the University. And the 161 good citizens National Fellowship alumni, 136 of whom hold positions at major colleges they seek and universities, reflect positively on the University. to use their Mr. Jefferson hoped those who studied at the University would be leadership gifts society’s future leaders. The Jefferson Scholars community most to make the assuredly is meeting his hopes. world around The Foundation can carry out its mission because of the extraordinary them better for generosity of its benefactors. In 2017-18 we received nearly $10 million others.” in new commitments. Recognizing a sacred responsibility to preserve and protect its benefactors’ generosity, the Foundation exercises careful JIMMY WRIGHT investment stewardship and generated a positive 10.7 percent return for the Selection Weekend March 23, 2018 fiscal year. At June 30, the Foundation had assets totaling $447 million. 4 LETTER FROM THE PRESIDENT & CHAIRMAN The Board of Directors is responsible for investment oversight and for policy decisions. Each year the terms of service for some members end, and new members are elected. Todd Schnuck and Marilyn Hebenstreit ended their terms this year. They both served the Foundation with devotion and commitment for which we are forever grateful. Nazee Batmanghelidj, Westray Battle, Tim Naughton, and Deborah Valentine will be joining the Board, and we welcome their active participation. 846 The Foundation suffered the loss of five close friends and benefactors LIVING over the course of the year. Mac Caputo, Lee Cochran, Claude Davenport, ALUMNI Skip Forrest, and Fred Trainor all were devoted advocates and loyal supporters. Their passing leaves us saddened and at the same time deeply grateful for all they did to help. Thirty-eight years ago, the Jefferson Scholarship experiment began. Today we can take pride in the impact the Foundation is having each year on Grounds. We can also take pride in its impact beyond Grounds, an impact that will grow more pronounced with each passing year and graduating class. TIMOTHY J. INGRASSIA JAMES H. WRIGHT Chairman President 5 BOARD OF DIRECTORS 2017— 2018 CHAIR Timothy J. Ingrassia (Col ’86) Frank M. Conner III Marilyn Bartlett Hebenstreit George K. Martin (Col ’75) Partner and Co-Chairman, (Col ’78, Law ’81) Vice Chairman Managing Partner, Global Mergers and Acquisitions Partner Bartlett & Co. Richmond Office Goldman Sachs Group Inc. Covington & Burling LLP Kansas City, Missouri McGuireWoods LLP New York, New York Washington, D.C. Richmond, Virginia Executive and Strategic Planning Landon Hilliard III (Col ’62) Committees, Chair Edward J. Dobbs (Col ’93) Limited Partner Tracy V. McMillan (Com ’86) President Brown Brothers Harriman & Managing Principal VICE CHAIR Dobbs Management Service LLC Company HCGA Consulting Partners Stephen S. Crawford (Col ’86) Memphis, Tennessee New York, New York Fairfield, Connecticut Senior Advisor Capital One Financial Corporation Franklin S. Edmonds Jr. (Col ’91, Patrick D. Hogan Anna M. Nekoranec (Col ’86) New York, New York Law ’95, GSBA ’95) Executive Vice President and Chief Executive Officer Undergraduate Advisory Managing Partner Chief Operating Officer Align Private Capital Committee, Chair Panning Capital Management LP University of Virginia Sarasota, Florida Charlottesville, Virginia Charlottesville, Virginia Tiffany B. Armstrong (Com ’90) Michael A. Pausic (Engr ’86) Managing Director Peter M. Grant (Col ’78, GSBA ’86) Lawrence D. Howell II Partner Harris Williams & Co. Partner (Col ’75, Law ’79) Foxhaven Asset Management Richmond, Virginia Anchormarck Holdings LLC Chairman Charlottesville, Virginia Charlottesville, Virginia Mentice AG Shelley L. Boyce (Nurs ’83) Audit Committee, Chair Kusnacht, Switzerland Shannon O. Pierce Chief Executive Officer (Col ’98, Law ’01) MedRisk Inc. Sarah A. Hamlin (Col ’89) Robin Robinson Howell (Col ’86) Vice President, Operations King of Prussia, Pennsylvania Dallas, Texas Atlanta, Georgia Nicor Gas Buildings & Grounds Atlanta, Georgia Committee, Chair Maryanne Quinn Hancock Thomas V. Inglesby (Col ’96, Grad ’96) (GSBA ’84, Law ’86) Mark A. Victor Pinho (Com ’99) Robert G. Byron (Col ’73, Law ’76) Chief Executive Officer Managing Director Managing Partner Chairman Rise Labs Saratoga Partners St. Victor Group LLC Blue Vista Capital Partners