Urif ar 2014 f

the university of rhode island foundation annual report 2014

annual report fy2014 y 1

the university of rhode island

Dear Friends,

You inspire the University of Rhode Island community.

Your generosity, commitment, and dedication motivate our

students and faculty to excel, innovate and succeed. Their

success elevates the University to new heights, which in

turn inspires other alumni and friends to support URI.

What is the evidence of this cascade of inspiration? Our

donors gave in record numbers last year, helping us to

achieve new heights in private support — more than $33

million in fiscal year 2014 — an all-time record for the

University.

While this figure, on its own, is impressive, it is the impact

of the dollars that is both remarkable and, frankly, inspir-

ing. Whether designated for scholarships to academically

gifted students or those with financial need, support for

our renowned professors and researchers working to solve

the world’s most pressing problems, or building facilities

that match the scholarship and discovery happening on

campus every day, charitable support makes all the differ-

ence at URI.

We are determined to continue inspiring you as you have

inspired us.

With my deepest appreciation,

David M. Dooley, Ph.D.

President

University of Rhode Island

“Your generosity, commitment, and

dedication motivate our students and

faculty to excel, innovate and succeed.”

message from the university president

2 y the uri foundation

“We thank our former chair, Tom Silvia ’83, for his leadership

of the Board and his unwavering commitment to URI.”

lorne adrain (l) and mike smith (r)


the uri foundation

Dear Friends,

The fi scal year 2014 was tremendously successful for philanthropy at URI.

We had a record-breaking total gift activity at over $33 million, which includ-

ed cash, pledges and planned gift commitments. We also saw increases in

the number of overall donors and the number of fi rst-time donors choosing to

support the University of Rhode Island. Overall donors increased in number

by 16 percent, while the number of new, fi rst-time donors to the Fund for URI

increased over last year by 76 percent.

Fiscal year 2014 also ended with our highest-ever endowment fund market

value, $119 million. And the year was marked by the adoption of an important

spending policy change, one that for FY ’15 will result in an increase in the

amount of endowment proceeds we are able to distribute to the University to

support donor-specifi ed purposes. That fi gure for FY ’14 was $2.9 million, up

from $2.7 million the previous year. For FY ’15 the distribution will total $3.4

million. The distribution value for FY ’14, coupled with the amount raised in

direct expendable cash gifts during that timeframe, enabled us to make $11

million available for spending by the University last year.

We continue to be inspired by the generosity of our donors and we are com-

mitted to working with both alumni and friends of URI to identify where

their passions lie and where their gifts can have the most meaningful im-

pact possible.

With a remarkable year in fundraising behind us, we look to the future with

the hope of making an even greater impact on the University of Rhode Island

by discovering new ways to engage our alumni and friends and new sources

of inspiration to share with the University community and beyond.

Sincerely,

Mike Smith Lorne Adrain ’76

President Executive Board Chair

URI Foundation URI Foundation

“ We continue to

be inspired by the

generosity of our

donors and we

are committed to

working with both

alumni and friends

of URI to identify

where their passions

lie and where their

gifts can have the

most meaningful

impact possible.”

message from the foundation leadership


wyoming2

washington72

utah11

texas127

south dakota3

north dakota116

oregon22

oklahoma8

nevada21

new mexico11

nebraska5

montana4

kansas9

idaho5

hawaii12

colorado52

california318

arizona45

alaska2

where the university’s donors come from…


guam 1puerto rico 3

us virgin islands 1other 9

grand total 12,290

west virginia

7

wisconsin20

vermont71

virginia231

tennessee23

south carolina

68

pennsylvania209ohio

65

new york628

new jersey 569

new hampshire 227

north carolina116

missouri26

minnesota25

michigan39

maine148

maryland 216

massachusetts 1,398

louisiana17

kentucky22

indiana8

illinois69

iowa5

florida488

delaware 23washington dc24

connecticut 821

arkansas9

rhode island

5,887

canada 5germany 5

japan 2netherlands 2

peoples republic of china 2united kingdom 2

ghana 1greece 1

india 1italy 1

top 10 other countries by number of gifts

who our donors are…

alumni: 34.5%corporations, foundations: 32.3%friends: 21.4%organizations: 11.8%

where the university’s donors come from…

mississippi4

georgia72

alabama12


E Sulaimaan Abdul-Mateen

E Class of 2016

E Recipient of the Douglas & Jennifer Coté Endowed Scholarship

inspiring success


supporting students

His path to higher education started off according to plan. Sulaimaan Abdul-

Mateen graduated from a prestigious charter school near Atlanta and headed

to Auburn University. But things didn’t go as planned.

“I was forced to drop out of school because I couldn’t afford to pay tuition,” he

said. Within no time, he went from attending college to driving 18-wheelers,

like his mother did, to earn a living.

And in 2010 his close-knit family decided to relocate, this time to Rhode Island,

to better care for his elderly and ill uncle. The move would mean that Abdul-

Mateen and his mother would no longer be full-time caregivers and that he

would be able to return to school. His journey back was supported by his

landlord who discovered Abdul-Mateen had been an “A” student at Auburn.

She offered to sponsor him at the Community College of Rhode Island with

the understanding that he had to earn top grades. He did just that — gradu-

ating with an associates degree and earning high honors. He subsequently

enrolled at URI, where he was awarded several scholarships including the

Douglas & Jennifer Coté Endowed Scholarship. Abdul-Mateen, at 31, readily

admits, “I have taken the path less travelled.”

Asked what providing this type of support to a student like Abdul-Mateen

means to him, scholarship donor and 1982 URI alumnus Doug Coté said, “It

is a privilege to contribute to a student with such persistence and determina-

tion as Sulaimaan.”

Abdul-Mateen, who is studying economics and will graduate in December

2016, said, “Scholarships renew my sense of faith in the world. People need

people and without someone giving me an opportunity through such scholar-

ships, this gateway for my education would not be possible.”

“People need

people and without

someone giving

me an opportunity

through such

scholarships, this

gateway for my

education would not

be possible.”

inspiring success


supporting opportunity

Each year a group of the University’s aspiring student actors, directors, and stage managers, including

many who were involved in making last season’s run of Chicago (shown) so successful, participate in

the Kennedy Center American College Theatre Festival, a nationally renowned competitive regional

theater program. Donor support helps make URI’s participation in this festival possible. the Beaupre hope and heritage fund, created by URI alumnus richard Beaupre ’62, provides opportunities,

like this, that students might otherwise not be able to afford. This Fund, as well as others created to

support student performers, is helping to provide invaluable opportunities that enhance the academic

experience for University of Rhode Island students.

inspiring the dramatic


“With the help of Hope and Heritage we have been able

to continue to send our students to the Kennedy Center

festival. It’s important for them to be competitive.”

department chair paula mcglasson


E Fatemeh Akhlaghi

E Professor of biomedical and pharmaceutical sciences

E Ernest Mario Distinguished Chair in Pharmaceutics

inspiring discovery


supporting faculty

Nationally known for her research, URI professor of biomedical and phar-

maceutical sciences Fatemeh Akhlaghi is helping the National Institutes

of Health develop a medication that could stop alcohol cravings through

a research partnership between URI, NIH, and Pfizer. The NIH awarded a

$1.65 million grant in 2013 to fund her research partnership with Lorenzo

Leggio, a Brown University adjunct professor and chief of section on

Clinical Psychoneuroendocrinology and Neuropsychopharmacology at NIH’s

National Institute on Alcohol Abuse and Alcoholism/National Institute on

Drug Abuse. Other research conducted by URI’s Akhlaghi focuses on devis-

ing methods for personalized medicine specifically for patients with Type 2

diabetes or organ transplant recipients.

“Once we learn more about different factors that influence drug concentra-

tion in the body, we can personalize medicine to the individual need of each

patient. In this way, we may be able to improve drug response while reducing

adverse effects,” said Akhlaghi, who joined URI in 2001 and holds a doctor of

pharmacy degree from the University of Mashhad, Iran, and a doctor of phi-

losophy degree from the University of Sydney, Australia.

Earlier this year, she was named the Ernest Mario Distinguished Chair in

Pharmaceutics at URI. Endowed faculty chairs, like this one, established

with a $1.5 million gift in 1996 by alumnus Ernest Mario, himself a leader in

the pharmaceutical industry, help recruit and retain faculty and researchers

who raise the profile of URI and help educate the next generation of innova-

tors while contributing to solving some of society’s biggest challenges.

Akhlaghi said, “I am proud to be awarded the Ernest Mario Distinguished Chair

of Pharmaceutics and hope to utilize its resources for educating the new gen-

eration of pharmaceutical scientists studying here at URI. I am truly grateful

to Dr. Mario for the generous donation of this endowed chair and his continu-

ous support of the College of Pharmacy’s research and education mission.”

“ I am truly grateful

to Dr. Mario for the

generous donation

of this endowed

chair and his

continuous support

of the College of

Pharmacy’s research

and education

mission.”

inspiring discovery


E $68 million project

E Broke ground May 2014

E Expected opening Spring 2016

E 135,000 square feet of new lab, classroom, offi ce and lecture space

E 1,400 students per day will receive instruction

E The Center will also house the U.S. Department of Homeland Security’s Center of Excellence for Explosives Detection, Mitigation and Response


supporting capital proJects

URI has been bustling with necessary and long-awaited facility

updates and new construction for the past several years. On the

heels of the new Center for Biotechnology and Life Sciences,

Pharmacy, Ocean Science and Exploration Center, Hillside

Dormitory, Hillel, and Fascitelli Fitness and Wellness Center

openings, the new Chemical and Forensic Sciences Building,

pictured, is going up fast!

Following its May 2014 groundbreaking, the 135,000-square-foot

building is on track to open in the spring of 2016. For these fa-

cilities and others, many of which are funded primarily by voter

approved bond fi nancing, generous private donations from in-

dividuals, foundations and corporations often help complete

and enhance the buildings for greater impact on the University

community.

A recent partnership with Shimadzu Corporation, one of the

world’s leading scientifi c instrument manufacturers, will en-

sure that the thousands of students taking chemistry classes

each year will be able to learn on the latest instrumentation

available when the Center for Chemical and Forensic Sciences

opens its doors.

Shimadzu will provide URI with this equipment at a steeply

discounted cost, and will provide a valuable service agreement

to the University for fi ve years. Our ability to off er students

and faculty top-notch learning and research facilities and in-

strumentation is often a deciding factor in their choosing URI.

Partnerships like the one with Shimadzu help inspire our stu-

dents and our faculty while elevating our infrastructure and our

overall competitiveness.

Partnerships like the one with Shimadzu help inspire

our students and our faculty while elevating our

infrastructure and our overall competitiveness.

inspiring progress


E 98 URI students currently enrolled in ROTC

E URI’s ROTC program established in 1894

E Program consists of students from URI, Roger Williams University and Salve Regina University

inspiring leadership


supporting uri through planned gifts

Future Army ROTC cadets at URI will be helped along their chosen career

path in the Nursing and Medical Service Corps thanks to the advanced plan-

ning of someone who’s walked in their boots, U.S. Army Lt. Col. (Ret.) Peter

Tancredi ’68 of San Diego. He and his wife, Susan, a former Army nurse, have

included a generous provision in their estate plans to create the URI ROTC

Medical/Nursing Scholarship.

ROTC is a demanding program for future leaders, and scholarships are used

to reward outstanding performance, according to URI Professor and U.S.

Army Lt. Col. Ryan Whittemore. “ROTC is a competitive program and we are

looking for the highest achievers,” he said.

And Tancredi is one of those achievers. After leaving URI, he entered the

Medical Service Corps and served as a hospital administrator in Vietnam. His

work took him as far as Europe and as near as the Pentagon. The couple’s

planned gift and their membership in the University’s 1892 Society demon-

strates a sincere desire to make a lasting and long-term impact on URI ROTC

and by extension, our country’s military medical capabilities.

Rita Verespy, Director of Gift Planning at the URI Foundation, notes, “It is

incredibly rewarding to work with people who really want to advance the fu-

ture of the University community. Charitable bequests make an impact that

can be felt by current and future generations of students. We have hundreds

of alumni and friends of URI who have told us of their future gift intentions,

including the Tancredis, who have a clear vision for URI’s future and want

to help shape it. The Tancredis are among our newest members of the 1892

Society, a unique donor cohort that will play a very important role in building

and sustaining charitable support for URI in the years to come.”

Pictured, center, with URI ROTC students, is 1981 URI alumnus Lt. General

Michael Flynn, US Army (Ret.), three-star Army general and former director

of the national Defense Intelligence Agency.

“We have hundreds of

alumni and friends

of URI who have told

us of their future gift

intentions, including

the Tancredis, who

have a clear vision for

URI’s future and want

to help shape it.”

inspiring leadership


E Dave Powers

E Class of 2014

E Russell D. & Russell C. Ide Scholarship in Mechanical Engineering

E Toray Plastics America, Inc., Scholarship

E Beatrice S. Demers Foreign Language Fellows Program scholarship

URI Students pictured (l to r): Dave Powers,

Ronald Wheeler, Lawrence Higgins,

Kyle DellaGrotta and Christopher Clark.


Dave Powers (pictured at far left), was

part of a team of URI engineering stu-

dents that took fi rst place in a national

Federal Aviation Administration competi-

tion held in Washington this summer. The

product they designed was the culmina-

tion of a year-long course requiring the

fi ve-man team to solve a real-world prob-

lem through product design. The team

explored the issue of airplane wingtip col-

lisions from every angle, and considered

more than 150 possible solutions before settling on a fi nal design.

They sought advice from the Rhode Island Airport Corp., built a pro-

totype called the “Wingman,” and tested it at Quonset State Airport.

Solving challenges that people experience is at the heart of Powers’

studies and his career plans. A 2014 graduate of URI’s International

Engineering Program with dual degrees in mechanical engineering

and German, Powers is now in graduate school studying human fac-

tors and ergonomics to earn a master’s in industrial engineering. He

plans to design consumer products with the comfort of the end user

in mind.

“I think it’s more interesting to make something that has to account

for the human,” he said.

Accounting for the human is also at the heart of why so many URI

donors support student scholarships, including the merit awards

Powers received at URI: the Russell D. & Russell C. Ide Scholarship in Mechanical Engineering, the

Toray Plastics America, Inc., Scholarship, and a scholarship from the Beatrice S. Demers Foreign

Language Fellows Program, which helped make his year studying abroad in Germany possible.

“I am very, very happy about the time I had at URI. It was very formative. I learned so much and really had

an awesome fi ve years. And I am very appreciative of the support provided to me in the form of scholar-

ships,” said Powers.

supporting achieveMent

“I am very, very happy

about the time I had

at URI. It was very

formative. I learned so

much and really had an

awesome fi ve years. And

I am very appreciative

of the support provided

to me in the form of

scholarships.”

inspiring innovation


“URI gave me a great foundation to continue

with my education, and my experiences living

on campus and being a part of the Ram Band

helped me mature as an adult and provided

me with great lifetime friends.”

E $1.3 million was raised for the Fund for URI

E 8,400 donors supported the Fund for URI

E 52 students, including those shown, are members of the URI Student Philanthropy Council


supporting the fund for uri

Every year, the Fund for URI contributes to URI’s outstanding

academic experience, giving students the best opportunity to

fulfi ll their incredible potential.

By providing fl exibility and program stability, the Fund for URI

is a valued source of funding that serves as a bridge between

long-term goals and the needs of today. These vital funds can be

used immediately to support University priorities. The Fund en-

ables the University to seize outstanding opportunities as they

emerge, and to support our incredible diversity of students, a

wide variety of programs and areas, and our faculty.

The annual giving program is fueled entirely by donations from

alumni, parents, friends, faculty, staff and students, all of whom

recognize the value of a URI education.

Veterinary ophthalmologist Ken Abrams ’78 shares what in-

spires him and his wife, Kathy Pointek-Abrams, DVM ’73, to

support the Fund for URI:

“To this day, I often recall the lessons of Professors Bibb, Wolke,

Doody, Loy, and Surver. Though it’s been some 40 years since I

was at URI, I can still hear their words as if I were sitting in front

of them. Without professors like them and many others, I would

not be where I am today,” said Abrams.

“URI gave me a great foundation to continue with my educa-

tion, and my experiences living on campus and being a part of the Ram Band helped me mature as an

adult and provided me with great lifetime friends. After moving around the country for my education, I

was able to settle in Rhode Island and start my veterinary ophthalmology referral practice in 1991. I am

fortunate to be able to make visits to campus and see all the remarkable improvements being made on

campus. I believe in URI and I believe all alumni should support this great institution!”

inspiring community


supporting uri athletics

Support for University of Rhode Island Athletics is

critical to the success of its 18 Division I NCAA varsity

teams and its nearly 500 student-athletes who proudly

represent the institution both regionally and nationally.

With approximately 10% of all private donations received

from alumni and friends in FY ’14 designated to support

athletic programs, the impact is signifi cant.

Last year, substantial facility improvements were made,

including the completion of the ryan family student-athlete complex, which opened in the spring of 2014 and is the

new home to our state-of-the-art training, rehabilitation

and academic center.

Generous support from more than 1,207 athletics donors

last year also provided resources to give our programs

a competitive advantage against some of the nation’s

toughest opponents. It allowed our coaches to recruit and

retain top-tier student-athletes from around the world,

enhance team travel and acquire cutting-edge equipment.

“Private support from alumni and friends has a direct impact

on Rhode Island Athletics and our ability to provide current

and prospective student-athletes the opportunity to succeed

in competition, the classroom and the community,” says

athletic director thorr Bjorn. “The continued support of our

donors and supporters is what will allow us to accomplish our

goals as we move our program forward.”

As support increases, so too could the performance of our

programs and the returns on the University in general. Private

support is vital to elevating URI’s athletic program and that

has a direct, positive impact on enrollment, our college

profi le, alumni affi nity and overall school spirit. Go Rhody!

inspiring rhody spirit


“The continued support of our donors and

supporters is what will allow us to accomplish

our goals as we move our program forward.”


“It really makes all the diff erence in our ability to

keep the program going and to be able to provide

this valuable opportunity to our students.”

E URI has 15 competitive collegiate club teams

E Approximately 500 students participate in club teams


supporting participation

URI’s equestrian team is riding high, having seized two consecu-

tive regional championships against some of the best teams in New

England. “Everybody is chasing us and we are the team to beat,” said

Coach Pam Steere-Maloof who trains the Rams at her Faith Hill Farm

in East Greenwich.

High school students frequently approach the coach at competitions.

They’re deciding whether they’ll attend URI and, in many cases, their

decision hinges on the strength of the equestrian team. That inter-

est illustrates how far the club team has come in the 13 years since

Steere-Maloof took the reins. Back then, fi ve students rode and hors-

es were scarce. The 50-member team now competes at all levels and

they practice in the freezing rain and on 25 diff erent horses because

they never know what horse they’ll be assigned to ride in competition.

“It’s an unpredictable sport,” she said.

It’s also an expensive sport. Competitions charge entry fees. A helmet

or a pair of riding boots can easily cost $400. The team holds fundrais-

ers, from golf tournaments to pasta dinners, and riders share cloth-

ing. Steere-Maloof is also grateful for the support of private donors

who contribute annually to make the team’s success possible. “It re-

ally makes all the diff erence in our ability to keep the program going

and to be able to provide this valuable opportunity to our students.”

Horse riding teaches discipline and perseverance. Riders become life-

long friends. Many of the student riders volunteer at shelters and the

team also runs a program in conjunction with the Trudeau Center

that benefi ts special needs children and adults.

“These kids are wonderful and they are involved with their community. They are role models and they will

make a diff erence in this world, that I am sure of,” their coach said.

In addition to equestrian, club teams at URI, with off erings for men and women, include fi eld hockey,

gymnastics, ice hockey, lacrosse, rugby, sailing, swimming and diving, roller hockey and crew.

inspiring champions


During the fiscal year 2014, $33.2 million in private support was raised, in-

cluding pledges, gifts and new planned giving commitments, up from $17

million last year. The historic gift from Tom and Cathy Ryan, creating the

George & Ann Ryan Institute for Neuroscience, had a significant impact on

fundraising totals for the fiscal year. Their gift, combined with other gener-

ous gifts from alumni and friends, contributed to a very successful year in

fundraising which helped impact all of URI’s colleges and major program

areas, including athletics, the Fund for URI, the President’s 21st Century

Fund for Excellence, club sports, Greek life and more. Students, faculty, pro-

grams and facilities across our campuses

benefitted from charitable support in FY

’14. That support contributed to inspiring

continued excellence and enhancing the

overall academic community here at URI.

In all, over 12,290 alumni and friends con-

tributed to URI during the fiscal year, an

increase over the previous year of more

than 15.5 percent.

Approximately 35 percent of all gifts re-

ceived were from alumni while friends

of the University, including corporations,

foundations, parents of current and for-

mer students, faculty and staff, and other

donor groups also generously supported

the University of Rhode Island. And the “first time donor” group grew 62

percent from 1,600 in FY ’13, to slightly more than 2,600 for FY ’14. The collec-

tive value of gifts from first time donors exceeded $1.6 million, a 26 percent

increase in the amount received the previous year.


fundraising highlights

total gift activity

$50

$40

$30

$20

$10

$0

2012 2013 2014

17.617.2

33.2

in millions


Other giving facts:

y 224 matching gifts were

received, with a match

value nearing $262,000.

y The College of Arts and

Sciences had the most

donors in FY ’14.

y The College of Engineering

raised the most in dollars

at nearly $1.5 million.

y The class with the largest

number of donors was

the Class of 1976.

y The Class of 1975 donated

the most, $1.1 million.

y Nearly 2,400 URI donors

have made a gift to URI

for more than 20 years.

y The first gift received in

FY ’14 was a $50 gift for

the Fund for URI.

y The last gift received was

$100 for the Graduate

School of Oceanography.

y The number of gifts

made online using the

URI Foundation’s secure

online giving form totaled

1,027, with a value of over

$313,000 in FY ’14.

42.5% endowed

gifts

6.4% capital

improvements9.3%

athletics

9.5% annual giving

32.3% expendable gifts (non-endowed)

giving by category

$16,110,626 pledges

$457,053gifts in kind

$2,056,000planned gift commitments

$14,066,544cash

$560,0000other

gift activity type



the uri endowment

The URI Foundation manages the University’s endowment with great care

and fiscal prudence in order to provide a consistent, perpetual source of fund-

ing supporting URI students, faculty, programs and facilities. We invest our

General Endowment Fund (GEF), which includes more than 1,000 individually

named funds, with the overall objective of generating a consistent income

stream for distribution to the University in accordance with our donors’ wish-

es, while protecting and growing the endowment’s principal value. A portion

of the endowment’s earnings and appreciation is typically reinvested into the

GEF annually.

The endowment spending rate is set each year by the URI Foundation

Executive Board. In the fiscal year 2014, the rate was raised to 4.7 percent,

including both the University distribution (raised to 3.4 percent) and the

Foundation’s management fee (lowered to 1.3 percent) with the goal of in-

creasing the impact of endowment-derived gifts on the University. The spend-

ing rate calculation approved during the fiscal year 2014, based on the market

value as of December 31, 2012, resulted in a distribution of $3.4 million for the

current academic year compared to $2.9 million for last year.

The endowment distribution represents just one portion of philanthropically-

derived funds that impacted the University during the year. The Foundation

also makes available to the University for use all expendable (non-endowed)

gifts received. Together the total distribution and expendable gifts resulted

in the infusion of nearly $11 million to the University last year. In addition,

another $6 million in charitable gifts earmarked as endowment gifts were

received and invested for future impact.

as is customary with many universities across the country, a one-time fee is deducted from all gifts to provide essential support to the university’s overall development activities.

please note that in an effort to provide a more robust description of

individual endowment funds, uri’s full endowment fund list can now be

found on our website, www.urifoundation.org/endowmentfunds.

endowment vs. expendable gifts received

direct/expendable 57.5%

endowed42.5%


portfolio value

As of June 30, 2014, the University of Rhode

Island’s endowment portfolio had an all-time

high market value of $119 million. The market

value for the GEF for each of the past five years

is represented below.

annualized return on investment

The annualized return on the University’s

endowment portfolio, as of June 30, 2014, was

14.9%. The annualized returns for the past five

years, using the June 30 point-in-time date for

comparison, are as shown below.

annual endowment payout impact

The following graph represents the total

amount of endowment-generated funds

distributed to the University each year, based

on the GEF’s spending policy, for the five-year

period shown.

$125

$100

$75

$50

$25

$0

2010 2011 2012 2013 2014

9785

92103

119

in millions$4.0

$3.0

$2.0

$1.0

$0

2011 2012 2013 2014 2015

2.5

3.02.7

2.9

3.4

in millions

13.7%

22.1%

11.3%

14.9%

-3.3%

2010

2011

2013

2014

2012

increase/decrease as of june 30

24.3% us equity

1.8% cash and

equivalent 11.4% emerging markets

equity

11.8% deflation hedging

14.8% global

us equity

11.9% inflation

heging23.9%

marketable alternatives

asset allocation

as of june 30, 2014


In order to advance its mission and continue providing funding for students,

faculty and programs, the University of Rhode Island counts on the support

of its dedicated and generous alumni and friends. Your gifts help provide

scholarships and fellowships for the bright and deserving, attract scholars to

our classrooms and laboratories, support vital research and innovation, and

contribute to the overall enhancement of our facilities across all campuses.

As your generosity benefits the URI community, it can benefit you as well.

Depending upon your individual situation, you may receive a charitable in-

come tax deduction and eliminate or reduce capital gains

taxes by making a gift to URI.

In addition to outright gifts of cash, securities or other

property, the gift pledge option allows you to make a gift

over a period of time (generally up to five years). Matching

gifts, memorial gifts and endowed gifts also make a signifi-

cant impact at URI. It is also possible to secure a lifetime

income through a number of planned gift options.

Planned gifts, including bequests, could maximize your

giving potential while creating a legacy for generations to

come. Certain planned gift vehicles could also provide you

with a secure lifetime income.

We invite you to consider becoming a member of the

University’s legacy society, the 1892 Society, by making

a provision for URI in your estate plans. Whether made

through a bequest, retirement or life insurance assets, or

gift annuity or charitable remainder trusts, your planned

gift makes you eligible to join a group of very special donors

who have committed to supporting URI in this way.

For assistance, please call the Foundation at 401.874.7900,

email [email protected], or visit www.urifoundation.org.

creating a legacy

ways to give to uri


annual report on giving

president’s circle donors

president’s circle platinumHenry H. Anderson Jr.Anthony DiacoJonathan FainRosalie FainEstate of Judith A. FillmoreKenneth J. Hylander ’80Virginia F. Hylander ’78Estate of Irving C. Rubin ’43Cathy H. RyanThomas M. Ryan ’75 president’s circle goldRichard E. Beaupre ’62Margo L. Cook ’86Anne Marie T. D’Abrosca ’79Thomas M. D’Abrosca ’83Steven E. Elterich ’72Estate of Joseph L. McNulty ’53John J. Murray III ’70Alan L. Saabye ’64Barbara M. Saabye ’65Henry D. Sharpe Jr.Peggy B. SharpeEstate of Barbara L. TateClaire WilcoxGregory Wilcox president’s circle silverAlan H. AndersonDaryl A. AndersonBarbara J. BassiPeter A. Bassi ’70Arthur S. Bobrow ’64Sandra S. Bobrow ’66Dianne K. Card ’69Wesley R. Card ’70Shannon E. Chandley ’83Tsu Tao Chiao ’57Cherry Chu-Chiao ’59William J. Cummings ’71Laura H. Cunningham ’77Stephen M. Cunningham ’76Eleanor H. Dain ’86Joel A. DainDavid A. DuffyDonald F. Farley ’65

Levia V. Farmer ’35*Philippe P. Fontaine ’59Howard S. Frank ’62Mary FrankCynthia L. Goodrich ’79Jay W. Harford ’61Stephen Jonas ’64Heidi Kirk DuffyLouis J. KirschenbaumSusan S. Kirschenbaum ’76Domenic J. Mainelli ’48Paul C. Mangan ’43Ruth C. Mangan ’42*George W. MillerBenjamin W. Navarro ’84Frederick J. Newton III ’78Susan C. NewtonLindell C. Northup ’68William J. Northup ’64Craig A. Rosen ’79Donna R. Ross ’02Mark A. Ross ’64Cynthia D. Sculco ’65Thomas P. SculcoThomas J. Silvia ’83Alan R. Spachman ’69Florence M. SpachmanMalcolm L. Spaulding ’69John H. Visneuski Jr. ’70 president’s circle bronzeEdward AvedisianLauren Baker-Hart ’81David A. Bengtson ’74Bradford R. Boss ’55Steven A. Bouley ’80Susan T. BrandThomas D. Cerio III ’76Mark P. Charron ’77Doreen ClappinJames P. Clappin ’80Karen S. CofoniPaul M. Cofoni ’70Dennis R. CostelloGuillaume H. de RamelSteve N. DeJongScott DePasquale

Ernest A. Di Gregorio Jr.Robert A. DiMuccioAlfredo R. EsparzaDiana R. EsparzaBarbara K. Fagan ’61Frank J. Fagan ’61Alan S. FeinsteinLawrence FinnDavid J. GartnerShirley T. Gulvin ’57Jay C. Hart ’82Paul J. Hastings ’84Carole E. HeatonBrian K. Hewitt ’91James A. Hopkins ’62Donna P. Lennon ’74J. Michael Lennon ’69John R. LeoLucie Maranda ’87Nancy Mckinstry Roch ’80Michael M. Morrow ’77Estate of Christine A. Nowak ’82Gordon S. OppenheimerJohn V. Priore ’87Shiela I. PrioreAlice C. Reinhardt ’76Frederick W. Reinhardt Jr. ’57Victor R. SantoroSandra SarniVincent A. Sarni ’49Bruce S. Sherman ’69Cynthia L. ShermanFranklin W. Simon ’50Albert Z. Soforenko ’54John S. Struck ’74Bernard J. Teubert Jr. ’60Pamela M. ThyeNorma C. Tower ’50*Thomas A. Turano ’71Richard G. Vangermeersch ’64Charles H. Wharton ’67Joy H. Wharton ’74Rhonda C. WilsonThomas Wroe Jr. ’72Bruce G. Zimmerman ’51Anthony A. Zona ’81John B. Zumwalt III ’73

We gratefully and sincerely acknowledge our honor-roll donors, members of the President’s Circle, who

made gifts of $10,000 or more to URI in the last fiscal year, ending June 30, 2014. Your generosity is deeply

appreciated and is making a measurable impact! For a complete listing of our generous and valued donors

who supported URI with a gift of $250 or more in FY ’14, please visit www.urifoundation.org/giving2014.

*deceased


the university of rhode island foundation

eXecutive BoardChair:

lorne a. adrain ’76

Vice Chairs:

Margo l. Cook ’86

Mark p. Charron ’77

Michael d. fascitelli ’78

Treasurer:

paul M. Cofoni ’70

Secretary:

Wendy p. field ’74

Geraldine M. Barber ’70

richard edmund Beaupre ’62

Wesley r. Card ’70

Karina Montilla edmonds ’92

James a. hopkins ’62

paul V. Jabour ’78

phillip Kydd ’81

Margaret S. leinen ’80

Carol J. Makovich ’75

frederick J. newton, iii ’78

thomas M. ryan ’75

Cynthia davis Sculco ’65

thomas J. Silvia ’83

alfred J. Verrecchia ’67

robert K. Vincent ’75

Charles henry Wharton ’67

laureen l. White ’81

raymond M. Williams ’87

alan G. Zartarian ’69

Ex Offi cio Members:

david M. dooley, President, University of Rhode Island

eva-Marie Mancuso ’82, Chairman, Rhode Island Board of Education

louise h. thorson ’85, President, URI Alumni Association



trusteesLorne A. Adrain ’76Frances M. Alexakos ’94Linda A. AndersonGeraldine M. Barber ’70Banice Carl Bazar ’51Bruce Alan Beauchamp ’58Richard Edmund Beaupre ’62George J. Bedard ’78Bradford Reed Boss ’55Roswell S Bosworth, Jr. ’49Edward W. Bouclin, Jr.Gary J. Bowen ’68Laurel L. Bowerman ’77John F. Brennan, Jr. ’81John J. Brough, Jr. ’78David J. Buckanavage ’80Gustin L. Buonaiuto ’53Jeffrey R. CammansScott A. Campbell ’77Anna Cano-Morales ’91Wesley R. Card ’70Albert E. Carlotti, Jr. ’60Mary F. Carmody ’82Frank Nicholas Caruso ’67Thomas M. Cataldo ’71Thomas D. Cerio, III ’76Shannon E. Chandley ’83Mark P. Charron ’77Raymond H. Christopher, Jr. ’55Edmund D. Cianciarulo, Jr. ’64Paul M. Cofoni ’70Joseph M. Confessore ’96Robert Lee Considine ’60Margo L. Cook ’86William Croasdale, III ’58Laura H. Cunningham ’77Stephen M. Cunningham ’76Ronald Delphis Denelle ’60Marie Campopiano DiBiasio ’61Laura Hyssong DiSano ’70Dennis J. Duffy ’80Kathleen Yanity Duffy ’80Mary S. Eddy ’87Karina Montilla Edmonds ’92William H. Eigen, III ’90Thomas V. Falciglia ’45Michael D. Fascitelli ’78J. Terence Feeley ’72Alan Shawn FeinsteinGiovanni Feroce ’91Wendy P. Field ’74Joseph G. Formicola, Jr. ’69James C. Forte ’76Raymond P. Freitas ’59Elia Germani ’57

Kathleen Carol Goulding ’77George Graboys ’92Mary A. Gray ’52William R. Guglietta ’82Maureen E. Gurghigian ’88George Hadfield, III ’61Audrey Barker Hallberg ’61Susan L. Hammen-Winn ’89Richard J. Harrington ’73Alan G. HassenfeldManoog T. Heditsian ’47Mary Danielian Higgins ’67Robert Joseph Higgins ’67Ann Stephenson Hitchen ’88James E. Hitchen, Jr. ’65Andrea M. Hopkins ’68James A. Hopkins ’62Russell D. Ide ’70Deborah A. Imondi ’83Saul Kaplan ’79Caroline Tennant Kaull ’66Donald N. Kaull ’67Evelyn Siefert Kennedy ’69Kenneth N. KermesJoseph J. Kirby ’96Heidi Kirk DuffyKenneth E. Knox ’70Peter F. Kohlsaat ’57Phillip Kydd ’81Stephen C. Landes ’69David B. Lea, Jr. ’59Margaret S. Leinen ’80Matthew J. Leonard ’88James William Leslie ’52Thomas J. Liguori, Jr. ’74Raymond G. Lundgren, Jr. ’54Armando F. Lusi ’47Mary P. Lyons ’67Leo Mainelli ’58Mark H. Mainelli ’82Carol J. Makovich ’75Raymond M. Mathieu ’69Michael N. Matone ’74Sandy S. McCreight ’73Michael F. McNally ’81Earle L. Messere ’56Robert S. Messinger, Jr. ’73Peter J. Miniati, III ’85Frank P. Mormando, Jr. ’58Charles E. Morris, Jr. ’55Francesco Peter Morsilli ’53Blanche Richard Murray ’41Henry J. Nardone, Sr. ’43Nathaniel J. Nazareth, Sr. ’55

Warren A. Negri, Jr. ’71Frederick J. Newton, III ’78Michael A. Nula ’96Glenn S. Palmer ’75John J. Palumbo, Sr. ’76John M. Parente ’85Louise R. PearsonConstantinos Perdikakis ’75Robert J. Petisi ’74Yahaira Placencia ’01H. Douglas Randall, III ’72Perry A. Raso ’06B. Michael Rauh ’81H. Milton Read, Jr. ’54James H. Readyhough ’77Edgar Allan Reed ’56Richard D. Rendine ’58Eric D. Roiter ’70John A. Romano ’72Anthony J. Rose, Jr. ’54Mark A. Ross ’64Edmund Stanley Rumowicz ’57Madelyn Geisser Rumowicz ’52Robert S Russell ’75Thomas M. Ryan ’75Vincent Anthony Sarni ’49Philip J.Saulnier ’62Cynthia Davis Sculco ’65Thomas J. Silvia ’83Richard A. Soderberg ’49Charles S. Soloveitzik ’72Ann M. Spruill ’76Jane M. Stich ’62John S. Struck ’74Donald P. Sullivan ’71Timothy J. Sullivan ’70Norman G. Tashash ’77Louise H. Thorson ’85Manuel J. Vales, IV ’88Mary L. Vales ’88Alfred J. Verrecchia ’67Robert K. Vincent ’75Joseph N. Waller ’69Alan H. Wasserman ’75David S. Watson ’77Robert A. Weygand ’71Charles Henry Wharton ’67Laureen L. White ’81Greg S. Whitehead ’78Kurt R. Wicks ’71David R. Wilkes ’43Raymond M. Williams ’87Mary Ellen Wilson ’77Alan G. Zartarian ’69


for the year ended june 30, 2014


financial report 2014consolidated statements of activities

revenues, gains and other support Contributions $28,883,551 net total investment returns 14,581,789 Contractual payments from the university 3,000,520 other income 1,316,538

Total revenues, gains and other support $47,782,398

expenses University Support academic support $3,149,309 athletics and club sports 1,560,809 Buildings and equipment 3,134,352 library 105,400 Community outreach 1,350,271 research support 531,957 Scholarships, fellowships, loans, awards 2,032,534 other programs and event support 455,819 alumni association 494,532 Total University Support $12,814,983

Foundation Support administrative expenses $903,707 development expenses 4,244,733 Total Foundation Support $5,148,440

Total Expenses $17,963,423

Changes in net assets $29,818,975 net assets, beginning of year 133,140,464

Net assets, end of year $162,959,439

statement of financial position

assets Cash and cash equivalents $7,136,416 prepaid expenses 23,863 pledges receivable, net 17,479,639 investments, at market value 137,381,262 Building, equipment, furniture and fixtures, net 1,990,461 Charitable remainder unitrusts 424,366

Total assets $164,436,007

liabilities and net assets Liabilitiesaccounts payable and accrued expenses $779,662 Gift annuity payable 696,906 Total liabilities $1,476,568

Net Assetsunrestricted $7,749,208 temporarily restricted 75,881,434 permanently restricted 79,328,797 Total net assets $162,959,439

Total liabilities and net assets $164,436,007

$200

$150

$100

$50

$0

127 136132118

164

in millions

2010 2011 2012 2013 2014

total assets

total assets represented on this chart includes the value of cash, investments (including the endowment portfolio), furniture, equipment, receivables and other items of value.

the mission of the university of rhode island foundation is to inspire and steward philanthropic support benefitting the University of Rhode Island. The Foundation exists as an independent corporation and operates exclusively to promote and support the objectives of the University. As the primary fundraising vehicle for soliciting and administering charitable gifts, including the management of the University’s endowment, the Foundation supports the University’s pursuit of excellence in all areas including teaching, research and innovation.

79 upper college road kingston, ri 02881-2023

nonpRoFIT oRg.

Us posTAge

pAIdpRovIdence, RI

peRmIT no. 3091

www.urifoundation.org

[email protected] 401.874.7900 | 877.874.4555 fax 401.874.5524

how to give: All gifts to the University of Rhode Island should be made payable and mailed to the URI Foundation, p.o. Box 1700, Kingston, RI 02881, or make your online gift at www.urifoundation.org/giveonline.

annual report creditsExecutive Editor: michael J. smith

Managing Editor: Tracey A. manni

Contributing Writer: ericka Tavares ’88

Contributing Photographers: Joe giblin | nora Lewis Randy osga | Ron Wheeler | URI Athletics

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