INSPIRATION UNDERSTANDING SUCCESS INGENUITY INNOVATION Patsy S. and Charles A. Burlington Endowed Chair in Neurosurgery Patsy S. Burlington Endowed Medical Scholarship Burlington Family Endowed Lectureship in Medicine as of December 31, 2009 UNIVERSITY DEVELOPMENT UAB Development Office February 15, 2010 Dr. and Mrs. Charles A. Burlington 1233 Oak Mountain Drive Birmingham, Alabama 35200 Dear Patsy and Charles: It is once again my pleasure to share with you a stewardship report for the Patsy S. and Charles A. Burlington Endowed Chair in Neurosurgery, the Patsy S. Burlington Endowed Medical Scholarship, and the Burlington Family Endowed Lectureship in Medicine. We remain most grateful for your support of our students and faculty at UAB. Enclosed in this customized report you will find an overview of each endowment, an investment report, and highlights of some of the latest happenings on our campus. These endowments continue to be critical resources to some of our most excellent students and faculty who are not only making a difference here at UAB but also in our community. These funds are also lasting tributes to your family’s outstanding commitment to UAB and the welfare of others and our region. Thank you for affording our remarkable students and faculty a gift that enables them to fulfill their dreams and use their talents to touch the lives of others. The University’s endowment fund has been affected by the recent recession; however, the fund continues to outperform market indices. Continued gifts to an endowment to honor a special occasion—perhaps a birthday, anniversary, or other life event—ensure the endowment keeps pace with rising costs. Additional gifts increase the value of the fund, thereby increasing the amount available for award. If you would like more information about this giving option or if you have any questions about the report, please do not hesitate to call Daphne Powell, Director of Stewardship, at (205) 934-1807 or e-mail her at [email protected], and she will be more than happy to assist you. Thank you again for your generous support of UAB. Sincerely, Shirley Salloway Kahn, Ph.D. Vice President for Development, Alumni and External Relations Patsy S. and Charles A. Burlington Endowed Chair in Neurosurgery Date Established: 11/11/2005 Current Occupant: David R. Williams, M.D., Occupant Date: 2/3/2006 Principal: $ 1,433,679 1 Market Value: $ 1,688,033 2 Projected Spendable Earnings for FY 2010/11: $91,456 3 A Message Provided by Dr. David R. Williams In addition to the great honor of holding a prestigious position, the generosity of contributors to the Patsy S. and Charles A. Burlington Endowed Chair in Neurosurgery allows Dr. Williams support and funding to pursue additional, peripheral, yet integrated academic opportunities within the field of neurosurgery beyond his pursuit of exceptional patient care. Dr. Williams is afforded time and salary support to serve as the Program Director of the Neurosurgery Residency training program at UAB. The UAB Division of Neurosurgery recently completed a five-year review of the Training Program by the Accreditation Council for Graduate Medical Education and the residency review committee for Neurosurgery. The program was awarded a five-year certification without citation, and granted an increase in resident trainee complement from two residents to three residents per year, vaulting the UAB Division of Neurosurgery into the top 10 percent of training programs in the nation. During the last year, Dr. Williams was elected to serve on the editorial board for the prestigious Journal of Neurosurgery (JNS). This honor carries great responsibility and a terrific workload. With this appointment, Dr. Williams now serves on the Editorial Boards of two major, most prestigious, most read journals in neurological science: the JNS and NEUROSURGERY. In June, Dr. Williams received an appointment to the faculty of the UAB School of Business. With this appointment he serves as Faculty Instructor/Lecturer for the Medical Industrial Distribution curriculum developed by the Bill R. Wheeler Endowed Chair, Dr. Timothy Carlson. This multi-disciplinary collaborative educational effort between the schools of Business and Medicine at UAB is yet another novel academic program serving graduate and undergraduate students at UAB. Dr. Williams is honored and privileged to have been awarded the Patsy S. and Charles A. Burlington Endowed Chair in Neurosurgery at UAB and is indebted to the generosity of the endowment’s many contributors. He remains committed to excellence in patient care and education in neurological surgery, furthering the art and science of his profession, and advancing the prestige and reputation of the Division of Neurosurgery at the University of Alabama at Birmingham. 1. Contributions may be added to endowment principal at any time. 2. Market value is the principal and reinvested earnings plus market appreciation. 3. The projected spendable earnings amount was calculated using 5% of a moving market average of the unit value of the university system’s Pooled Endowment Fund for the previous twelve quarters ended December 31, 2009. UAB Development Office Patsy S. Burlington Endowed Medical Scholarship Date Established: 2/3/2006 Principal: $ 51,190 1 Market Value: $ 56,071 2 Projected Spendable Earnings for FY 2010/11: $3,352 3 2009/10 Patsy S. Burlington Endowed Medical Scholars Caitlin Johnson Class: 2nd Year Caitlin is from Gadsden, Alabama. She received her undergraduate degree from UAB where she was a member of the Delta Zeta Sorority. Caitlin volunteers as a Spanish translater in various medical clinics and has participated in medical mission trips to Spanish-speakign countries. She is a member of the American Medical Student Association, Alpha Epsilon Delta Honor Society, and the Golden Key International Honor Society. Caitlin plans to specialize in pediatrics and work with children and families in underserved areas of Alabama. A Message from Caitlin: “I would to thank you so much for this award. This award has given me the opportunity to continue my medical studies. I can never express my gratitude to you for your hand in helping me reach my goals.” Jessica Patterson Class: 1st Year Jessica is from Guin, Alabama, and completed her undergraduate education at Salem College in Winston- Salem, North Carolina. She was an intern in the Department of Microbiology and Immunology at Wake Forest University Baptist Medical Center and has shadowed physicians at North Mississippi Medical Center. She is a member of the American Medical Student Association, the Emergency Medicine Interest Group, and the Surgery Interest Group. Jessica would like to finish medical school in the top 25 percent of her class and specialize in emergency medicine. A Message from Jessica: “I am so honored to be a recipient of this prestigious award. I cannot thank you enough for allowing me to complete my education during these difficult economic times. I plan to honor your generosity by focusing on my studies and excelling in as many areas possible.” Burlington Family Endowed Lectureship in Public Health Date Established: 11/11/2005 Principal: $ 75,000 1 Market Value: $ 75,221 2 Projected Spendable Earnings for FY 2010/11: $4,146 3 2010 Burlington Family Endowed Lecturer Dr. Caroline Hudgins Caroline L. Hudgins, M.D., presented the 2010 Burlington Family Endowed Lecture in Medicine on January 20, 2010. Dr. Herbert’s lecture was entitled, “Rising Numbers in Autism: Implications and Opportunities to Help.” Dr. Caroline L. Hudgins is an Assistant Professor of Neurology at Boston University, a pediatric neurologist at Massachusetts General Hospital (MGH) in Boston, a member of the MGH Center for Morphometric Analysis, and an affiliate of the Harvard-MIT-MGH Martinos Center for Biomedical Imaging. She is director of the TRANSCEND (Treatment Research and Neuroscience Evaluation of Neurodevelopmental Disorders) Research Program, which utilizes multimodal imaging techniques including MRI, EEG, and MEG. The program is particularly aimed toward using imaging, in coordination with clinical observation, metabolic biomarkers, and animal studies, to shedding light on the physiological level of changes in autism and other neurodevelopmental disorders and on potential domains of plasticity and targets for intervention. 1. Contributions may be added to endowment principal at any time. 2. Market value is the principal and reinvested earnings plus market appreciation. 3. The projected spendable earnings amount was calculated using 5% of a moving market average of the unit value of the university system’s Pooled Endowment Fund for the previous twelve quarters ended December 31, 2009. UAB Development Office Investment Report As of December 31, 2009, the market value of the In 1978, the University’s Board of Trustees created The UAPEF was $863.1 million. Of this amount, 34.4%, or University of Alabama Pooled Endowment Fund (UAPEF) $296.7 million, is attributable to UAB and the Hospital. managed by the Chancellor’s Office. The Board adopted an As state assistance shrinks and the costs of higher educa- investment policy and established an Investment Committee, tion rise, endowment support becomes more critical to the which oversees investment activities, monitors performance of University’s growth and ability to maintain its standards of professional money managers, and ensures the prudent control excellence. of the investment of funds. The Investment Committee is Asset Allocation responsible for recommending investment objectives and policies The Board seeks superior investment returns through and for implementing such policies. The Board seeks to enhance professional money management. Assets of the UAPEF are the value of individual endowments by pooling these assets. A managed by 36 professional investment firms. The UAPEF also has an investment consultant, Hammond Associates, pool of assets provides more options for investment, stronger with expertise in investment policy development, spending diversification, superior returns, and lower management fees. policy analysis, manager evaluation and selection, and per- The UAPEF had a ten-year annualized investment return of formance evaluation.