UNIVERSITY OF VIRGINIA
BOARD OF VISITORS
MEETING OF THE
EXTERNAL AFFAIRS COMMITTEE
May 22, 2012
EXTERNAL AFFAIRS COMMITTEE
Tuesday, May 22, 2012
11:15 – 11:45 a.m.
Board Room, The Rotunda
Committee Members:
A. Macdonald Caputo, Chair
Hunter E. Craig
Allison Cryor DiNardo
Marvin W. Gilliam Jr.
Robert D. Hardie
Mark J. Kington
John L. Nau III
Timothy B. Robertson
Edward D. Miller, M.D.
Helen E. Dragas, Ex-officio
Gweneth L. West, Consulting Member
Jeffrey C. Walker, Consulting Member
AGENDA
PAGE
I.
REPORT BY THE ACTING CHAIR
•
Annual Report on Foundations’ Compliance with
Board Policy (Ms. Yoke San Reynolds to report)
II.
REPORTS BY THE SENIOR VICE PRESIDENT FOR DEVELOPMENT
AND PUBLIC AFFAIRS (Mr. Sweeney)
•
Engagement
•
Public Affairs
•
Cash Flow
•
Campaign
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5
UNIVERSITY OF VIRGINIA
BOARD OF VISITORS AGENDA ITEM SUMMARY
BOARD MEETING:
May 22, 2012
COMMITTEE:
External Affairs
AGENDA ITEM:
I.
ACTION REQUIRED:
None
Annual Report on Foundations’
Compliance with Board Policy
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
University-Related Foundations, rests with the Vice President
and Chief Financial Officer, as the President’s designee for
purposes of the policy.
DISCUSSION: During the year, each foundation submits to the
Vice President and Chief Financial Officer 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 received the representatives’ reports and
they are available upon request.
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Information received from the foundations and from the
Board representatives for FY 2012 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.
Since 2004, the Vice President and Chief Financial Officer
has hosted annual foundation networking meetings.
Representatives from each foundation were invited to attend this
half-day session featuring presentations and discussions
regarding key university initiatives, foundation policy, tax
regulations, fundraising, fraud in the non-profit sector, and
related audit issues. The session also features roundtable
discussions on a variety of topics. 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,
there will be a series of smaller workshops covering specific
topics, such as Payment Card Industry (PCI) compliance matters
that are critical to any university-related foundation that
accepts payment cards for fundraising or services rendered.
At the BoV orientation in November 2011, Board members
discussed the role of a BoV representative on a foundation board
and ways to strengthen the annual BoV representative’s report
and service on the foundation board.
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COMPLIANCE WITH THE POLICY ON UNIVERSITY-RELATED FOUNDATIONS
Foundation Name
Annual Minutes Management Management
Budget
of
Letter/Audited
Letter
Meetings
Financial
Response
Statements
Tax
Returns
(990)
Annual
BOV
Certification Representative
Letter
Annual
Report
Year
Ended
Alumni Association
✓
✓
✓
✓
✓
✓
✓
6/30/11
Alumni Board of Trustees
✓
✓
✓
N/A
✓
✓
✓
6/30/11
✓
✓
✓
✓
✓
✓
✓
6/30/11
University of Virginia's College at Wise
Alumni Association
University of Virginia's College at Wise
Foundation
Curry School of Education Foundation
✓
✓
✓
N/A
✓
✓
✓
6/30/11
✓
✓
✓
N/A
✓
✓
✓
6/30/11
✓
✓
✓
N/A
✓
✓
✓
6/30/11
Darden School Foundation
✓
✓
✓
N/A
✓
✓
✓
6/30/11
Foundation of the State Arboretum at
Blandy Experimental Farm
✓
✓
✓
✓
✓
✓
✓
6/30/11
HealthCare Partners, Inc.
✓
✓
✓
N/A
✓
✓
✓
6/30/11
Jefferson Scholars Foundation
✓
✓
✓
✓
✓
✓
✓
6/30/11
Law School Foundation and Law School
Alumni Association
McIntire School of Commerce Foundation
✓
✓
✓
N/A
✓
✓
✓
6/30/11
✓
✓
✓
N/A
✓
✓
✓
6/30/11
Medical School Foundation and
Medical School Alumni Association
Miller Center Foundation
✓
✓
✓
✓
✓
✓
✓
6/30/11
✓
✓
✓
N/A
✓
✓
✓
6/30/11
Osher Lifelong Learning Institute
✓
✓
✓
N/A
✓
✓
✓
6/30/11
University of Virginia College Foundation
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Foundation Name
Annual Minutes Management Management
Budget
of
Letter/Audited
Letter
Meetings
Financial
Response
Statements
Tax
Returns
(990)
Annual
BOV
Certification Representative
Letter
Annual
Report
Year
Ended
4
Rarebook School
✓
✓
✓
N/A
✓
✓
✓
9/30/11
School of Architecture Foundation
✓
✓
✓
✓
✓
✓
✓
6/30/11
University of Virginia Fdn & Subsidiaries
✓
✓
✓
✓
✓
✓
✓
6/30/11
University of Virginia Health Foundation
✓
✓
✓
✓
✓
✓
✓
6/30/11
University of Virginia Investment
Management Company (UVIMCO)
University of Virginia Licensing and
Ventures Group (formerly Patent
Foundation)
University of Virginia Physicians Group
(formerly Health Services Foundation)
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
6/30/11
✓
✓
✓
✓
✓
6/30/11
Virginia Athletics Foundation
✓
✓
✓
N/A
✓
✓
✓
12/31/11
Virginia Engineering Foundation
✓
✓
✓
✓
✓
✓
✓
6/30/11
Virginia Tax Foundation, Inc.
✓
✓
✓
N/A
✓
✓
✓
9/30/11
✓
✓
✓
N/A
✓
✓
6/30/11
UNIVERSITY OF VIRGINIA
BOARD OF VISITORS AGENDA ITEM SUMMARY
BOARD MEETING:
May 22, 2012
COMMITTEE:
External Affairs
AGENDA ITEM:
II. Reports by the Senior Vice President for
Development and Public Affairs
ACTION REQUIRED:
None
DISCUSSION: Mr. Sweeney will provide reports on Engagement, Public
Affairs, Cash Flow and Campaign.
The Office of Engagement (OE) is the University’s leading
producer of engagement activities through its programs: Alumni
Education, Cavalier Travels, UVaClubs, UVaFamilies, and the
Engagement Community of U.Va. professionals. OE works to create a
diverse portfolio of activities to provide meaningful opportunities
that appeal to the varied interests of the University’s alumni,
parents and friends. The University’s alumni and parent engagement
efforts are one of country’s best in class in higher education as
reflected by its two Grand Awards and one Award of Excellence from
the Council for Advancement and Support of Education (CASE)
District III in three consecutive years.
The Office of Public Affairs conducts a variety of public
relations activities, communications, and community relations
initiatives designed to increase public understanding of programs
in classrooms, research labs, and other service activities, and
provides a wide range of services in support of the University’s
schools and units, including creation and oversight of the
University’s home page and institutional web sites, media
relations, marketing, strategic communications, pan-University
publications, and special projects.
Mr. Sweeney will give an update on philanthropic cash flow and
Campaign achievement, including future support to date for fiscal
year 2012. Through March 31, 2012, the Campaign stood at $2.664
billion, including $346 million in future support.
Philanthropic cash flow measures actual gifts received by the
University during a specific fiscal year. It includes cash or cash
equivalents received for philanthropic purposes; it does not
include pledges or future support (bequest expectancies, annuities,
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etc.). Through March 31, 2012, cash flow stood at $181 million.
This reflects an increase of 2% over the same period in FY11 and an
increase of 15.75% over the same period in FY10.
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