UNIVERSITY OF VIRGINIA
BOARD OF VISITORS
MEETING OF THE
ADVANCEMENT AND COMMUNICATIONS
COMMITTEE
MAY 21, 2013
ADVANCEMENT AND COMMUNICATIONS COMMITTEE
Tuesday, May 21, 2013
9:00 - 9:30 a.m.
Board Room, The Rotunda
Committee Members:
John L. Nau III, Chair
Frank B. Atkinson
A. Macdonald Caputo
Hunter E. Craig
Allison Cryor DiNardo
Marvin W. Gilliam, Jr.
Bobbie G. Kilberg, Vice Chair
Victoria D. Harker
Stephen P. Long, M.D.
Helen E. Dragas, Ex Officio
Robert S. Kemp, Consulting Member
Jeffrey C. Walker, Consulting Member
AGENDA
PAGE
I.
REMARKS BY THE COMMITTEE CHAIR (Mr. Nau)
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II.
REPORT BY THE SENIOR VICE PRESIDENT FOR UNIVERSITY
ADVANCEMENT (Mr. Sweeney to introduce Mr. Gordon Rainey,
Campaign Chair; Messrs. Nau, Rainey, and Sweeney to
report)
•
Campaign Completion
3
III.
ANNUAL REPORT ON UNIVERSITY-RELATED FOUNDATIONS’
COMPLIANCE WITH BOARD POLICY (Written Report)
4
UNIVERSITY OF VIRGINIA
BOARD OF VISITORS AGENDA ITEM SUMMARY
BOARD MEETING:
May 21, 2013
COMMITTEE:
Advancement and Communications
AGENDA ITEM:
I.
ACTION REQUIRED:
None
Remarks by the Committee Chair
BACKGROUND: Mr. Nau will welcome guests and provide an overview
of the meeting agenda.
1
UNIVERSITY OF VIRGINIA
BOARD OF VISITORS AGENDA ITEM SUMMARY
BOARD MEETING:
May 21, 2013
COMMITTEE:
Advancement and Communications
AGENDA ITEM:
II. Report by the Senior Vice President for
University Advancement
ACTION REQUIRED:
None
DISCUSSION: Messrs. Nau, Sweeney and Rainey will provide a
report on the current Campaign.
Mr. Gordon Rainey
Mr. Rainey, who received a Bachelor of Arts degree from
U.Va.’s College of Arts & Sciences in 1962 and his law degree
from the School of Law in 1967, has a long record of support and
service to the University. He is a former Rector of the
University’s Board of Visitors, a former president of the U.Va.
Alumni Association, and a trustee of the Law School Foundation,
among his many and varied leadership positions in service to the
University. At present, Mr. Rainey is the national campaign
chair of the Campaign for Virginia, serving as the volunteer
leader for the University’s historic $3 billion capital
campaign.
2
UNIVERSITY OF VIRGINIA
BOARD OF VISITORS AGENDA ITEM SUMMARY
BOARD MEETING:
May 21, 2013
COMMITTEE:
Advancement and Communications
AGENDA ITEM:
III. Annual Report on University-Related
Foundations’ Compliance with Board Policy
(Written Report)
ACTION REQUIRED:
None
BACKGROUND: The Board of Visitors approved the Policy on
University-Related Foundations on October 9, 1992. The policy
applies to all foundations that are established and operated for
the university’s benefit and that use the university’s name and
resources. The policy was designed to ensure efficiency and
accountability of university foundations, as well as to maintain
the foundations’ independence and integrity. At its October
2000 meeting, the Board concurred with specific procedures to be
followed in the administration of the policy.
The responsibility for monitoring compliance with the
policy, as well as general administrative oversight of the 25
university-related foundations, has rested with Gary Nimax,
Assistant Vice President for Compliance and Enterprise Risk
Management, as the President’s designee for purposes of the
policy. Jim Matteo, Treasurer, will become the President’s
designee, effective July 1, 2013. The policy specifies that the
designee will prepare an annual report on compliance for the
Board of Visitors.
DISCUSSION: During the year, each foundation submits to the
university certain reports specified in the policy. The reports
include, but are not limited to, minutes of board meetings,
audited financial statements, approved operating and capital
budgets, amendments to by-laws, and tax returns. In addition,
the executive director of each foundation is asked to submit an
annual letter certifying that the foundation has complied with
the Policy on University-Related Foundations. Board of
Visitors’ representatives on the foundation boards are asked to
provide the Board with annual reports on foundation activities.
We have reviewed the representatives’ reports as well as
the other deliverables received by each foundation. Information
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received from the foundations and from the Board representatives
indicates that all foundations are in compliance with the Policy
on University-Related Foundations. A matrix on the following
pages shows the items received from each of the foundations.
In 2004, the Office of the Vice President and Chief
Financial Officer began hosting annual foundation networking
meetings. Representatives from each foundation were invited to
attend these half-day sessions featuring presentations and
discussions regarding key university initiatives, changes in the
management and operation of non-profit organizations, foundation
policy, tax issues, fundraising, fraud in the non-profit sector,
and related audit issues. These sessions have featured
roundtable discussions during which participants are able to
choose from a variety of topics to discuss with their peers.
Each year we have had approximately 50 representatives from the
university-related foundations and administrative offices,
including executive directors and key financial and
administrative staff. In 2012, we focused our training and
outreach efforts on Payment Card Industry (PCI) compliance
matters that are critical to any university-related foundation
that accepts credits cards for fundraising or the provision of
services. Two sessions were held for foundation representatives
to review PCI standards and answer specific questions.
4
COMPLIANCE WITH THE POLICY ON UNIVERSITY-RELATED FOUNDATIONS
Foundation Name
5
Alumni Association
Alumni Board of Trustees
University of Virginia's College at Wise
Alumni Association
University of Virginia's College at Wise
Foundation
University of Virginia College Foundation
Curry School of Education Foundation
Darden School Foundation
Foundation of the State Arboretum at
Blandy Experimental Farm
HealthCare Partners, Inc.
Jefferson Scholars Foundation
Law School Foundation and Law School
Alumni Association
McIntire School of Commerce Foundation
Medical School Foundation and
Medical School Alumni Association
Miller Center Foundation
Osher Lifelong Learning Institute
Rare Book School
School of Architecture Foundation
University of Virginia Engineering
Foundation
University of Virginia Foundation
University of Virginia Health Foundation
Annual Minutes Management Management
Budget
of
Letter/Audited
Letter
For
Meetings
Financial
Response
FY13
Statements
✓
✓
✓
N/A
✓
✓
✓
✓
Tax
Returns
(990)
✓
✓
Annual
BOV
Fiscal
Certification Representative Year
Letter
Annual
Ended
Report
✓
✓
6/30/12
✓
✓
6/30/12
✓
✓
✓
✓
✓
✓
✓
6/30/12
✓
✓
✓
N/A
✓
✓
✓
6/30/12
✓
✓
✓
✓
✓
✓
✓
✓
✓
N/A
N/A
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
6/30/12
6/30/12
6/30/12
✓
✓
✓
✓
✓
✓
✓
6/30/12
✓
✓
✓
✓
✓
✓
N/A
N/A
✓
✓
✓
✓
✓
✓
6/30/12
6/30/12
✓
✓
✓
N/A
✓
✓
✓
6/30/12
✓
✓
✓
N/A
✓
✓
✓
6/30/12
✓
✓
✓
✓
✓
✓
✓
6/30/12
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
N/A
N/A
N/A
✓
N/A
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
6/30/12
6/30/12
9/30/12
6/30/12
6/30/12
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
6/30/12
6/30/12
Foundation Name
University of Virginia Investment
Management Company (UVIMCO)
University of Virginia Licensing and
Ventures Group
University Physicians Group
Virginia Athletics Foundation
Virginia Tax Foundation, Inc.
Annual Minutes Management Management
Budget
of
Letter/Audited
Letter
For
Meetings
Financial
Response
FY13
Statements
Tax
Returns
(990)
Annual
BOV
Certification Representative
Letter
Annual
Report
Fiscal
Year
Ended
✓
✓
✓
N/A
✓
✓
✓
6/30/12
✓
✓
✓
✓
✓
✓
✓
6/30/12
✓
✓
✓
✓
✓
✓
✓
✓
✓
N/A
N/A
N/A
✓
✓
✓
✓
✓
✓
✓
✓
✓
6/30/12
12/31/11
9/30/12
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