84th Annual Business Meeting

84th Annual Business Meeting


Good morning ladies and gentlemen.
Welcome to the 84th Annual Business Meeting of the University of Illinois
Foundation. Please join me in welcoming Alan
Feldman, chair of the University of Illinois Foundation Board of Directors. Good morning everyone
and on behalf of the University of Illinois Foundation Board of Directors
I’d like to welcome you to the 84th Annual Business Meeting…and if the
teleprompter operator would begin to move the screen it would be good…so
things happened it’s just the way technology is sometimes…and so I hope
you enjoyed that high-energy video that kicked off our meeting here this morning.
I sure love seeing all those shots from different campuses and universities
didn’t you? Maybe it made you all have a little sense of home. Now we know that
some of you traveled a great distance to get here but then for others the
Krannert Center is nearly in your backyard and no matter the distance of
your journey to get here we are very grateful that you decided to make it a
priority to spend time with us at this morning’s meeting as well as the many
additional events and activities that are planned throughout this weekend. Now
I’d like to welcome those of you who are also watching via live webcast. Thank you
for taking the time to stay connected with us having a virtual support is
invaluable and we hope to see you sometime in
person in the near future. This year the foundation weekend theme is the
collective power of giving. Now I find this message to be so powerful because
it speaks to the many ways we are individually and all together making an
impact on the University of Illinois System. Your engagement with the
University of Illinois is vital and your generosity and unwavering commitment to
our universities provides the critical resources that
enable a truly transformative learning experience for our students and they are
the key to everything we do. Your commitment also provides our world-class
faculty and researchers with the tools and support they need to take on today’s
most challenging societal issues. Thank you for your support…please give
yourself a round of applause for your incredible philanthropic efforts. So the term of the foundation board
chair is two years and this weekend marks the end of my term. I’m honored to
have served with so many wonderful people on the Foundation board and I’m
grateful for your support and guidance throughout my term. Now I’ve also been
fortunate to serve as board chair during an exciting period for the foundation
and our universities with the launch of the public phase of our philanthropic
campaigns from the very beginning of my term in 2017…they’ve come so far during
these two years and I look forward to following the progress in the next
couple of years. I know great things are to come and
you’ll hear more about that later this morning. I’d like to take a moment to
offer a special thank you to my fellow governing directors. I’m grateful for
their commitment to responsible and prudent governance. Each one takes their
role as fiduciaries of this foundation with an incredible sense of care and
responsibility. I’m consistently impressed with their boundless energy
and tireless commitment to both the University and to each of you…the
University and to each of you…the philanthropic investors in this great
institution. And another group I’m honored to take this opportunity to thank are
our life directors. Life directors are those who have previously served the
University of Illinois Foundation board with distinction and dedication as
governing directors and who continue to volunteer their time, talent, advice, and
insight. Could you please all join me in thanking
these important volunteers…would my fellow governing directors and life
directors please stand to be recognized? Now many of you join us this morning as
foundation members…and Foundation Members are a group of highly invested
highly committed donor champions who not only love the University of Illinois
but understand the important philanthropic role of the foundation.
Foundation members consistently invest in and support the goals of the
university system. Today there are nearly 1,000 foundation members who are proudly
working together on behalf of the University of Illinois System though, so
for those of you in the theater today who are Foundation Members would you
please stand so we can recognize your commitment to the University of Illinois…
thank you, thank you all of you, thank you, thank you for being here. Now there’s one
more person I’d like to thank and that is my wife, Deb, whose patience and
support have been essential over the last two years. Thank you, Deb. Now I’d
like to share some important updates from our board meeting that took place
yesterday. One of our key actions taken was the election of three new governing
members: Shakeeb Alam, Mark Coe, and Sam Mendenhall. I’d like to take a few
moments and share a little bit about each of these accomplished and talented
leaders. Shakeeb Alan…he earned his bachelor’s degree in finance in 1997
from the University of Illinois at Urbana-Champaign and went on to receive
his MBA from the Harvard Business School. He’s the co-founder and president of
East Bridge Capital Management, an emerging markets focused investment firm
which manages private investments, funds for universities, museums, endowments,
charitable foundations, family offices, and other institutional investors. His
career started in the 1990s as an investment banker at Bear Sterns where
he focused on mergers and acquisitions and prior to founding East Bridge, Shakeeb
was an investment professional at leading alternative investment firms
including High Fields Capital, Perry Capital and GTCR. He’s also actively
involved in a number of boards, councils and committees including at Harvard
University the Justice Society program at the Aspen Institute and the Michael J
Fox Foundation. He gives back to Illinois in a number of ways including
participating in the Gies College of Business Investment Banking Academy and
by philanthropically supporting the Illinois Commitment Program so please
join me in welcoming Shakeeb Alam to the Foundation Board. Shakeeb would you please
stand? Thank you and congratulations. Mark Coe also joins us as a new governing
director. In 1984 mark earned his bachelor’s degree in accounting from the
Gies College of Business and was awarded the bronze tablet one of the
university’s highest academic honors. Mark also holds a master’s in management
and finance and economics from Northwestern University. Mark is
currently the chief investment officer and managing member at Intrinsic Edge
Capital Management. His investment career started as an analyst at Gofen and Glossberg Incorporated and later established the Kent Associates within
Paine Webber. In 1999 he formed Coe Capital Management, an investment
management and advisory service firm and launched his first Intrisic Edge Fund.
Mark is actively involved in several educational and charitable organizations
and currently serves on the board of trustees of Keshet. Mark has served as an
advisory member of our foundation investment committee since 2014 and has
been philanthropically committed to the Illini Capital Management Fund in the
Gies College of Business so mark please stand to be recognized.
Thank you for joining our Board. Okay and our third new governing
director is Samuel Mendenhall. Sam holds two degrees from the University of
Illinois System. In 1988 Sam received his bachelor’s degree in accounting from the
University of Illinois in Chicago then went on to law school and received his
JD from the University of Illinois right here at Urbana-Champaign.
Sam is currently a partner at Winston Strawn where he represents Fortune 500
companies and government agencies in antitrust litigation class-action
defense and complex commercial litigation. In addition to practicing law
Sam is also a licensed ordained minister Sam has remained connected to the
University of Illinois serving as a member of the Illinois Law Alumni
Advisory Board and the Law Dean’s Advisory Board as well as being a member
of the Alumni Alliances Black Alumni Network. He was publicly recognized for
his enduring contributions by being awarded the 2012 recipient of the
Chicago Illini of the Year award. Additionally Sam has generously made
contributions to the College of Law with a passion for supporting students
scholarships. Sam couldn’t be with us here
today but let’s give him a round of applause just in case he’s watching on
the web. Now thank you all for such a warm welcome to our new governing directors. It’s now my
pleasure to introduce the next speaker of this morning and that’s the
University of Illinois Foundation President and CEO Jim Moore. Jim as we’ve told you before is a skilled and well respected fundraising professional. Jim
has over 25 years of nationally recognized and award-winning fundraising
experience. Jim came to the University of Illinois Foundation in 2015 and we are
so happy to have him. Please join me in welcoming, Jim Moore. Wow, we can’t see you guys back there so
it’s great to see everybody here this morning and thank you, Alan. I want to
start by just saying that it’s been an honor to serve with Alan. It’s an honor
to share the stage with him today and I also want to express my sincere
thanks Alan to you for your leadership while serving as board chair for the
past two years. You have been a passionate visionary and an unwavering
champion for the Foundation, the University, and our staff and we simply
can’t thank you enough. As you transition to your new role as Immediate Past Chair
please know we appreciate the time and wise counsel you have given all of us…me
in particular…I have stories, we have stories…but most importantly know that
you’ve helped position our Foundation for an even brighter future and we will
be forever grateful so thank you, Alan for all that you’ve done. So on with the
program well good morning and thank you all for joining us on this beautiful
fall day in Urbana-Champaign. Now, yes, rain or shine, never forget, wherever you
are, every day is a great day to celebrate the University of Illinois. I’m
really excited about our program today because we’re gonna hear about why
giving matters and we’re going to talk about the collective power of
philanthropy. My hope is you will find today’s messages to be informative but
also inspiring however as is customary and quite candidly good for job security
for me. Before we begin our program I would like to make a few introductions
so please hold your applause until I acknowledge everyone: Members of the
University of Illinois Board of Trustees, current Board Chair Don Edwards and
current Trustee Jill smart, former Trustees Larry Eppley, Timothy Koritz,
Dave Downey, Jane Rader and Judith Reece University of Illinois President Tim
Killeen who you’ll hear from shortly and his wife, Roberta Johnson Killeen, and of
course, I’d also like to thank wife, Shelli, for joining us today. Illinois President Emeritus…University of Illinois President Emeritus Bob
Easter and his wife, Cheryl, who I refer to as Coach Easter…they’re here with us
today. University of Illinois Springfield Chancellor Susan Koch and her husband
Dennis…UIC Chancellor Michael Amiridis was here with us earlier but he had to
return to Chicago for a donor event so I’m gonna give him an excused absence
and Urbana-Champaign Chancellor Robert Jones also has an excused absence.
Well, Robert wanted to be with us today …we’re on his campus of course…we are
proud to let you know he is being elected to the prestigious American
Academy of Arts and Sciences and this weekend just happens to be their
induction ceremony so we’re gonna give Robert a pass…yeah that’s worth the
applause…but but do do promise me when you see Robert next, tell him we missed
him but but also certainly congratulate him. Former Urbana Chancellor Mort Weir and his wife Ceil are also in attendance this year. We appreciate having them here. And attending his 20th annual meeting my
good friend and a good friend of many of you Sid Micek, UIF president emeritus is
here so, Sid…that’s a milestone that deserves a round of applause as well thank
you for being here. And while Alan has already mentioned them I too would like
to recognize all of our Foundation Board Members and welcome our new Directors
Shakeeb and Mark and Sam, um, I’m a bit biased admittedly but I think we have the best
Foundation board in the United States and I can’t thank them enough for their
tireless service and dedication to advancing the University of Illinois. I
also want to acknowledge our incredible community of Foundation Members as well…talk about collective power…nearly a thousand foundation members represent us
and they’re doing amazing things around the world and really indeed around the
country. Finally…I also every year love to give a big shout out to
our friend, Mike Ross, the director of the Krannert Center for Performing Arts and
his incredible team. Mike and his team literally moved mountains for us every
year and we could not put this event on without their patience and certainly
their expertise. I want to thank all of you for being with us today and for your
commitment to the collective power of the University of Illinois. Well since 1935 the University of
Illinois Foundation has been committed to securing and managing gifts in
support of the University of Illinois. What began with fundraising coordination
for a single institution now supports nearly eighty nine thousand students
more than 7,000 faculty members over 800 facilities and hundreds of educational
and research opportunities across our three altogether extraordinary
universities. Our alumni and friends, you empower the alum…the University of
Illinois…in different ways as well. All of which are critical to the
university’s mission of transforming lives and serving society. Some of you
fund scholarships to assist students financially as they earn their degrees.
Others support the world-class faculty who guide our students in pursuit of
their dreams. Many of you help fund programs and research that change the
world and life as we know it. Still others have contributed to building the
facilities necessary to provide the transformational education and
experiences that take place every single day across our system. And then there are
those of you who generously volunteer your time and your talents and countless
ways to support the University of Illinois, its students, and our alumni. Together, however, you create an amazing synergy, a force that is greater far
greater than the sum of your individual commitments. Together like our three
universities you are a collective power that fuels innovation and feeds and
excellence that pushes boundaries and makes the seemingly impossible
ality your generous gifts provide resources for the University of Illinois
to sustain and enhance quality teaching, research, public service, health care, and
economic development like few public universities can. Our board chair Don
Edwards mentioned that yesterday in our meeting. We are uniquely excellent at
scale. Because of all of you and literally tens of thousands of donors
who each year collectively invest hundreds of millions of dollars in the
University of Illinois. We are a world-class, world-leading powerhouse
University with unmatched excellence in scale. Thank you all again for your
generous and extraordinary support and to those of you specifically sitting in
this room this morning, I’m going to offer a special thanks. Believe it or not
since 1965 those of you in this room have made a combined 87,669 gifts,
totaling nearly three hundred and forty two million dollars…now that’s
collective power. Well as I said, we can’t thank you enough
and we have a great program today. And I know you’ve been waiting for for the
numbers part of this, so it’s it’s now my pleasure to introduce my two colleagues
who will give you our annual financial and endowment report. You know as we all
know there is strength in numbers and I think you’ll see the financial position
of our foundation and endowment pool is strong and improving. Christy Devocelle,
our chief financial officer, will provide you with a brief summary of our
financial performance report and Ellen Ellison, our chief investment officer,
will follow Christy with a few words about the endowment. So first please
welcome Christy Devocelle, senior vice president and chief financial officer of
the University of Illinois Foundation. Good morning everyone. I hope you’re
enjoying your time in Urbana. It was great to visit with some of you at
breakfast this morning and, based on what I’m hearing, you’re a super busy group
that is taking full advantage of the wonderful activities and events that are
scheduled for today and the rest of the weekend. As the chief financial officer
of the University of Illinois Foundation it is my pleasure to share the financial
highlights of the past fiscal year which covers the period of July 1, 2018 through
June 30, 2019 so let’s first start with a summary of the Foundation’s
financial position. We recently completed our external financial audit
with Ernst & Young and received a clean unmodified opinion. I’m pleased to say
total assets at June 30th 2019 were 2.5 billion dollars with the majority of
these assets being earmarked with donor restrictions. Obviously the largest
percentage of the Foundation’s balance sheet is pledges receivable and
investments which includes the endowment, deferred gifts, and farmland gifts. The
main financial activity of the Foundation results from the receipts and
acknowledgement of gift funds investment of the endowment assets and distribution
of current use gifts and endowment income to the University as depicted on
this slide. Now on to our summary of the gift activity for the year. We had
another great year that recorded 462.9 million dollars in new business. This
number includes…that is worth clapping for… This number includes new gifts, pledges,
and written commitments, grant awards, and bequests. This is an impressive number
and I know that those of you in the room contributed to this greatly so thank you
all for helping us to get over the four hundred and sixty million dollar mark
for the second straight year in a row. So it’s pretty incredible and we could not
have gotten there without each and every one of you and your support. If you
compare the new business figures from the past five years
we are down slightly from our best year ever in fiscal 18 but we are still
recording the second highest year of new business for the last five years and
quite frankly in our history. This 462 million in new business came from a
variety of sources this year the largest source was from
the family foundations. Family foundation’s contributed to over a
hundred and fifty million dollars to this total which is three times more
than this source reported last year, largely due to the extraordinary gift
from the Grainger Foundation. Alumni are the second largest source for our new
business this year and they make up nearly 29 percent of the new business
total or about 134 million dollars. However it is worth noting that the
majority of our family foundation’s are driven and directed by alumni as well.
Other sources for new business include corporations, friends, and foundations. I’m
also happy to report that this past fiscal year our cash flow was just shy
of 300 million at two hundred and ninety eight point seven million. This cash flow
number includes current receipts and payments on gifts, grants, pledge payments,
annuities, and realized bequests and estate distributions. As you can see from
this five-year picture our cash flow didn’t quite reach the heights of our
historical mark set last year but we still have much to be proud of of this
total achieved. Alumni and corporations were the most significant sources of
funding, each contributing to just under 26 percent and combining for about 52
percent overall. The remaining 48 percent was comprised of the family foundations
friends and a few other sources. So what did donors choose to support this fiscal
year? Unrestricted funding is by far still the highest designation and nearly
hit the hundred million dollar mark topping last year’s number by over two
million dollars. It’s important to note that while these
number this these funds are unrestricted and they’re labeled unrestricted they
are still restricted to university units colleges and departments for use by
those deans and department heads at their discretion. This is extraordinary
gift for them to be able to use as needed. Of specified uses, research still
remained a top priority for our donors at seventy five point eight million
dollars, which is an increase of over thirteen million dollars from last year.
And as always student support and academic programs were also of great
importance to our donors with gifts that totaled just over seventy million dollars.
A large chunk of the cash received two hundred and six point four million was
designated for current use by our donors which means it’s intended to be spent
during the fiscal year. Just over 89 million was new endowment gifts and
about 3 million was indicated or directed to annuity and life income. So I
hope this report gave you a quick overview of the Foundation’s financial
status for fiscal 19. I realize it is just a snapshot, but please note that our
audited financial statements, our 990 tax returns, our financial information is
always available on our Foundation’s public website. In addition, this fall,
around Thanksgiving we will be mailing the printed copies of our annual report. So that report will include these facts and figures and more in-depth
information that can be reviewed at your convenience. The University of Illinois
System and Foundation are incredibly grateful to all of you. It is because of
your generosity that our universities in Urbana-Champaign, Chicago, and Springfield
are able to build and retain their best-in-class institutions. It is now my
pleasure to introduce my colleague Ellen Ellison, the chief investment officer for
the University of Illinois Foundation. Ellen is going to share with you
information about how our endowment portfolio has performed this past year. She has served as our chief investment officer for over six years now and has
more than 30 years of experience in the financial sector. She works out of our
growing investment office in Chicago where she manages a team of investment
professionals that are responsible for the management of the endowment the
Foundation’s endowment portfolio. So with that, I will give you Ellen Ellison…thank
you. Good morning and thank you for joining
us. I’d like to give you an update on the Foundation’s endowment and our
preliminary results for the fiscal year just ended. For the fiscal year ended
June 30th the Foundation’s endowment reached over 1.8 billion dollars in
assets under management. This chart illustrates the endowments impressive
growth for the last two decades and in fact the value today is almost double
from where it was when I joined this institution and started a new program in
early 2013. I think this chart is very important
because it emphasizes how your gifts along with strong investment returns
compound the value of the endowment over time. You can appreciate for those of you
who remember the global financial crisis about 10 years ago I have not forgotten
it that there was a dip in value starting in oh oh six oh seven and the
endowment declined by approximately two hundred million dollars this was before
my time here and thanks to the great stewardship of the investment policy
committee the group stayed the course made wise additional investments and
recovered rather quickly back to a billion in 2012 I think that shows the
the intelligence and fortitude of long term investing because we really are
investing this pool of assets not just for the University of Illinois system
today but also into the future in general the endowment returns across
the country were more muted this past year versus the previous year the median
endowment return was four and a half percent and our preliminary return was
lower than that at 2.6 percent but we believe the number will be probably just
over three percent once we get our final fourth-quarter June 30th financial
performance in I think it’s also important for you as donors to endowment
to understand that the tribution to the causes you support on
the on the campuses are not directly tied point four-point dollar for dollar
with the year-to-year return we use a smoothing policy that allows for the
spending distribution to continue and in fact it increased by little over three
percent during this current fiscal year our one-year return was negatively
influenced by several factors including our energy exposure both public and
private and also the value style of bias of the portfolio and those two things
were out of favor last year but we believe that is a temporary factor and
we continue to support these two areas the portfolio perhaps more importantly
we rebooted the portfolio’s starting six years ago and the private asset real
estate portfolio is still very young and not contributing at the rate it will
within the next three to four years we expect great things from this part of
the portfolio and it will affect the top-line performance of the endowment
the the final aspect as with any new program we had a number of legacy
investments that also needed to be adjusted and moved and if we remove
those the the one three five ten-year numbers are actually within the top 30
percent of endowments we we know we can do better and where our long-term goal
is to to be consistently in the top quartile or 25% of comparable endowments
and foundations although we’re not satisfied with the most recent fiscal
year return we’re very pleased with the progress that we’ve made given the
relative use of the portfolio we spoken to you in the past about this concept of
the minimum required return in the chart these light blue bars are our minimum
required return I can just remind you of what it is composed of so this the
minimum required return our breakeven is the distribution we make to the
versity units it is also the administrative fee and and the most
recent years actual inflation so you can see that for the most recent year 6.7%
the light blue bar on on the left side of your screen yes on your left is six
point seven and you can see the range six point seven to seven and a half we
do not expect to meet this goal every year but we have done so in over longer
periods of time and I went back and checked we have met it over the in five
of the last seven fiscal years I consider this the longest term metric by
which we are to be judged and when I say long term I really mean 10 20 30 40
years I sometimes think that the market gods really don’t care at all about six
thirty being our fiscal year and because this is the second time when things of
things have been localized around a date that’s very important to all of us the
portfolio is up 10 percent year-to-date through September and is doing very well
both on an absolute and relative basis we have a globally diversified portfolio
this chart shows the strategic or very long-term asset allocation as affirmed
annually and discussed very actively by our investment policy committee with the
investment team our total equity exposure target is 63 percent and this
includes both public and private equity domestic international emerging markets
you also have a very healthy 25 percent in both highly highly secured bonds such
as Treasury or foreign sovereign bonds as well as a variety of different
strategies that that are doing well as the market enters perhaps a more rocky
period finally we have 12 percent in real assets real assets is real estate
energy in all of its forms and also we have a number of agriculture investments
that we’ve spoken to you about in the past finally if we roll
all the assets within the University of Illinois system focusing on the middle
circle you will see that and we’re combining two endowments farms we have
some non pooled real estate and some separately managed accounts we really
get to a great number two point eight two billion of which the majority is two
point six is is managed in a pooled fashion thank you very much
have a great day well Thank You Christy and Ellen and at
this time I’d be remiss if I also didn’t say thank you to our entire staff we
have a great leadership team I know I gave some kudos to our board members but
the work we do collectively is really the result of all of the great team
members we have so I want to give a round of applause all of our foundation
staff as well so as you just heard we have a great deal to be proud of and I’m
always reminded of what our president and chancellors like to say there’s a
lot of positive forward momentum at Illinois right now philanthropy is one
of the measures that illustrates institutional strength at universities
and over the last two years we’ve seen record giving to the University of
Illinois resulting in almost 1 billion dollars and gifts and commitments so
thanks to all of you for contributing to that success does I said earlier today
we’re celebrating philanthropy the people who make it happen the people
whose lives are impacted by it and the promise of even greater accomplishments
to come as a result of the generosity of those who give to make a difference in
the fall of 2017 we launched our most recent set of campaigns with the purpose
of highlighting those areas of strength and opportunity of our three unique
universities and the collective power that they represent as a system with a
collective goal of 3.1 billion dollars this is the largest campaign in our
University’s history as you’ve heard in the video we are off to a great start
you may not realize this but the University of Illinois is one of only
eleven public universities to take on a three plus billion dollar campaign and
we’re also one of only six public universities to have ever had multiple
billion dollar efforts in addition to the largest cumulative goal this is also
the first time we have built unique campaigns for each of our institutions
all three were launched somewhat synchronously within 30 days of each
other and I would now like to give you an update and progress report on the
great work our Chancellor’s campus leaders and advancement team members are
doing please note that the data I will be sharing is as of September 30th 2019
so let’s begin with the University of Illinois Springfield the reaching
stellar campaign has a goal of 40 million dollars and you IAS vice
chancellor for advancement Jeff Lorber and his staff have raised thirty one
point four million dollars thus far this year or seventy eight point five percent
of their goal reaching stellar is specifically targeting student support
for scholarships community changing initiatives that impact the public good
and campus life environment experiences for their students and innovative
programs like our Lincoln Studies initiatives which I encourage you all to
learn more about among the highlights for the last year over this last year
was a 3.8 million dollar gift from an anonymous donor that will not only
benefit the campus community but the broader regional community as well
reaching stellar is moving philanthropy a you is to extraordinary Heights ignite
the campaign for the University of Illinois at Chicago our new vice
chancellor for advancement Tom Walmsley and his staff are tackling a campaign
goal of 750 million dollars and I’m happy to report they just crossed the
five hundred million dollar mark which is sixty six point seven percent of
their goal contributions this past year included eleven point eight million
dollars in support of students and five point two million dollars to empower
faculty in several of our Health Sciences colleges ignite is inviting UIC
donors to invest in Chicago’s public university in ways that support student
access and faculty excellence additionally ignite is also contributing
to facility enhancements that are energizing the entire campus community
the building on that campus is incredible
if you haven’t been there you should go take a look and for example last year
donors invest at 1.8 million dollars in the new engineering building it’s a
great facility go take a look at it worth noting also and it’s on the slide
and notice the small prints and you probably can’t read it but worth noting
as well was the launch of the UIC alumni association which they embedded in our
campaign engaging all of our alumni will further empower the university to do
even more we’re excited about the opportunity to connect with better than
265 thousand UIC alumni here in Urbana the goal of the with Illinois campaign
is 2.25 billion dollars that’s a big number and our vice chancellor for advancement Barry Benson and his staff had thus far secured in
gifts and commitments 1.7 nine billion dollars that’s seventy nine point five
percent of their goal some of the highlights this year include and if you
had a chance to join us last night renaming the College of Engineering the
Grainger College of Engineering after an additional 100 million dollar gift from
the Grainger foundation brought their overall commitments to more than three
hundred million dollars that’s unique and that’s the kind of thing that
happens at Illinois with philanthropy with Illinois is also student focused
programs like the Illinois commitment scholarship fund had benefited from the
with Illinois campaign outreach as noted on this slide you’ll see one of our
donors this year made a two hundred thousand dollar gift to Illinois
commitment and when asked why he said because if I were a student at Illinois
when that program were available and that program were available I would have
qualified excellence that our banner Champaign is deep and wide
and this university throughout history has been a catalyst for change and
innovation and much of it was funded in part by you and donors like you
charitable gifts with Illinois is about all of you who are and forever with
Illinois we love the wordplay of this with Illinois is also a reminder that
without Illinois the world would be a very different and less vibrant place
it’s not on the script here but if you get a chance there’s a video that the
Urbana campus put together that makes this point it’s pretty hilarious go take
a look at it our system-wide goal as was mentioned earlier it’s 3.1 billion
dollars and we were clearly off to an extraordinary start it’s worth repeating
four hundred and sixty two point nine million dollars was raised last year and
our collective campaign thus far as of September thirtieth total is two point
three five billion dollars we’re seventy five percent of the way to our goal
last year alone nearly eighty million dollars was directed to scholarships and
sixty eight million dollars earmarked for research speaking of research and
teaching it would be remiss if I didn’t thank and acknowledge our incredible
faculty and Dean’s for all that they do to inspire giving they are critically
important to our fundraising success in fact it’s their leadership their
scholarship and their passion for teaching that so many of you invest in I
want to thank all of you from providing the fuel to power our current campaigns
and for empowering the University of Illinois through your collective
generosity the University of Illinois is fortunate
to have a president whose transformational leadership has taken
the system to new heights since he arrived at Illinois in 2015 President
Tim Killeen is the 20th president of the University of Illinois system and he’s
inspired also inspired our campaigns and motivated us to not be shy about telling
our story are many stories with passion and with pride before we hear from Dr.
Killeen please enjoy this brief more scholarships more grants and a
multi-year tuition freeze more jobs or patents more startups and a statewide
innovation Network better healthcare better transportation stronger crops
stronger communities and a ridiculously powerful supercomputer
three universities one system altogether we are making Illinois extraordinary thank you everybody
good morning it’s such a pleasure to welcome you to this year’s 84th Annual
Meeting and it’s such an honor to be the president of the Illinois University of
Illinois system you’re president and I like to round up so four hundred and
sixty three million dollars this year Wow Wow so first thing I want to say yes
is on behalf of the well over a hundred and thousand thousand faculty staff and
students the University of Illinois system thank you profoundly from the
bottom of our hearts for your support your confidence we will not fail you
we’re gonna make you proud er you’re already proud I know that and I also
want to thank my love of my life Roberta for her support and inspiration and the
grace with which she represents the University too so please join me in a
round of applause for her what a remarkable turnout today
400 of us here at Krannert this morning and who knows how many more have tuned
in from home or work via livestream like this wonderful campus itself we are a
diverse and eclectic bunch all ages all backgrounds from all cultures careers
and corners of the world but each and every one of us has something very
important we have all hitched our wagons to a star the University of Illinois
system is riding on a rocket ship of momentum I like Rockets that is perhaps
unmatched I believe unmatched in its long 150 year history and more and more
people are jumping on board to join us all the time and why wouldn’t they this
is the most dynamic university system to be found anywhere
let me repeat this is the most dynamic university system to be found anywhere
and it’s ours it’s yours you don’t have to take just my word for it here are a
few of the many signs look at the record waves of students coming from families
that are voting with their feet that keep flowing into our three
best-in-class universities this fall enrollment climbed to an
all-time historic high for the seventh straight year nearly eighty nine
thousand students system-wide which is incidentally more than twice the
population of the city of Urbana that includes record enrollment for the ninth
straight year right here in Havana more than 52,000 students we like to do
things with excellence and scale for impact and for the fifth straight year
at UIC enrollment has now topped 33,000 students add in this fall’s record
freshman class at University of Illinois at Springfield and it keeps us exactly
on pace to reach stated documented ambitious goal of reaching system-wide
enrollment to 93 thousand students by the fall of 2021 we will be graduating
then shortly thereafter 25,000 students a year many of our peers are struggling
to tread water we are growing in influence and importance our gains have
been supported by a commitment a commitment to student access and
affordability that resulted in a fifth straight year of a tuition freeze for
in-state students is for zero change in tuition the longest run of back-to-back
freezes in more than a half-century so are we committed to affordability yes
and as always these students are being supported so generously by all of you
the generous donors who have helped fuel a three-fold increase over the last
decade to two hundred and thirty million dollars annually in student scholarships
you can also sense our upward momentum through the ongoing additions to our
already extraordinary faculty ranks last year for example the first cohort of a
new three-year sixty million dollar hiring initiative brought in more than a
dozen of the very best professors in their fields acclaimed experts in
critical disciplines such as electronics innovation cancer treatment regenerative
medicine and public finance the next class will be announced soon and we will
ultimately bring in up to 50 are the very best educators and
researchers in the world in this program the exceptional faculty who define us
and to increase our power as a magnet for both students research funding and
obviously create this impact that we’re talking about so to get a feel for the
momentum we have you can also look at the partners who are joining us to share
in our academic and research excellence a year after Carle helped launch
Urbana’s pioneering new engineering focused College of Medicine Foxconn
interconnect technology just last week or the week before announced plans this
fall for a new 100 million dollar Center in Urbana that will serve as a global
hub for the groundbreaking smart technology that will drive manufacturing
plants autonomous vehicles smart homes of the future it is the future and it’s
a 10 year deep partnership and a year after a historic gift from Larry and
Beth Gies created Urbana’s Gies College of Business another hundred
million dollar gift from the Grainger foundation brought their total support
as you’ve heard to more than 300 million and added the company’s powerfully
globally respected name to this campuses nationally ranked college of Engineering
proud to be part of this the Grainger College of Engineering and now as you
know new state-of-the-art facilities continue to rise including the Siebel
Center for design right here in Urbana coming out of the ground a unique new
hub of student focused learning and discovery set to open next spring that
is among many rooted in the generosity of our donors our momentum is also
reflected in the partnerships that are fueling the remarkable progress towards
our Discovery Partners Institute and the Illinois Innovation Network the envy of
other states in this country two important new initiatives that we have
developed to drive workforce development and economic growth in a state that
needs it leading universities and corporations from around the world
literally around the world are signing up to work with dpi a world-class
research and education center in downtown Chicago and every public
University in Illinois is part of our system the Illinois Innovation Network
of related research hubs across the rest of the state so we are leading the
charge to lift our whole state up working together and sharing their
distinctive knowledge and expertise DPI, IIN the faculty and students that
enrich them and the partnerships will cultivate the human and intellectual
capital that is now so critical to drive progress and economic growth and like
our academic Enterprise we’re going to do it at massive scale
hundreds of world-class researchers working with thousands of students
countless businesses small medium large investors entrepreneurs it is the new
model of the land-grant institution for the 21st century
they will foster the breakthrough innovation and the entrepreneurial
know-how that will create new products new businesses and a new era of
prosperity for Illinois the Midwest and beyond in service of our students they
will get access to opportunities the letters of reference to internships all
about the shooting students you can also get a sense of our momentum by just
looking in the mirror and in the seats around you please do you our donors have
long been the partners who make the University of Illinois system a cut
above not just great but magnificent one of the very best and you have stepped up
like never before to help power the rising tide that we are truly riding
objectively seemed truly riding through new waves of giving that have already
put us three quarters of the way towards the collective 3.1 billion dollar
campaign goal that is by far the most ambitious in our history thank you for
that support thank you for your stick with it nurse
and thank you for your generosity it keeps lifting us higher and your
commitment is why we are never afraid to always dream bigger in our push to
better serve the needs of our students and to drive a new era of progress
institutions are critically important now more than ever and we want to be the
best that we can be the word commitment I’ve used several
times here in the words of Abraham Lincoln is simply what transforms a
promise into reality so on behalf of the entire University of Illinois family
might deepest thanks again for your commitment for your loyalty and support
please enjoy this weekend on this wonderful life-changing busy and in
construction campus the impact of the collective power of
giving at the University of Illinois system is seen across our three
incredible universities in Urbana Chicago and Springfield with the help of
our generous donors our campaigns With Illinois, IGNITE, and Reaching Stellar are
collectively ahead of pace to meet the ambitious 3.1 billion dollar goal that
was set to support world-class faculty state-of-the-art facilities and our
inspiring world changing students millions of dollars have been raised in
support of faculty awards fellowships and chairs our generous donors have
provided more than 300 million dollars for new facilities and upgrades that
keep us on the leading edge and hundreds of millions have been given to provide
scholarships to a diverse group of the best and brightest students today we
celebrate the passionate alumni and friends who have chosen to invest in the
University of Illinois your gifts are transformative and help our innovative
faculty and students tackle today’s most complex societal challenges with you our
collective power is altogether extraordinary Thank You President Killeen and what an
inspiring illustration of the impact of philanthropy at the University of
Illinois so next up will be more inspiring examples of what private gifts
mean to all of our extraordinary universities and to those who make them
to help with this part of the program I’ve actually recruited and asked some
of our UI Foundation board members to put in a little bit of overtime unpaid
of course so today you’re going to hear from Stu
Levenick, Nita Francis, Saul Morse, and Jose Santillan. Stu will moderate a panel
discussion about the things that have motivated he and his colleagues to give
to the University of Illinois and what the collective power of philanthropy
means to each of them personally so before turning the program over to Stu I
would like to say and this is where I wrap up my part of the program I just
simply want to say thank you thank you again for everything you do it’s an
honor and a sincere privilege to serve as your president of the University of
Illinois foundation so enjoy the rest of the show have a great day and please
welcome Stu Levenick good morning thanks Jim for the
opportunity as Jim just said of the objective year this part of the program
is to sort of showcase the collective power of giving by examining seminal
individual activities of some of our uif board of directors in hopes that you see
the passion different from each of us but the passion that we have the causes
that we have and how we pursued that and maybe it’ll spark a little engagement
little interest a little motivation on your part to help engage with us and on
helping this great institution but first a few introductions so first me I came
to the University of Illinois in 1971 and I had two objectives one was to get
the best education when it could buy in the state of Illinois and two was I had
a dream of playing Big Ten football in the end I had the opportunity to do both
and the experiences gained in the classroom and on the field of play set
me up for a career of success a small-town kid from Washington Illinois
could have never never imagined he had a great football experience here which led
me to a short stint in the NFL and then ultimately went on to begin a career in
business I was an offensive lineman in college so naturally would I go to work
for Caterpillar we make bulldozers I had offensive linemen bulldozers and that
that led me to a life around the world I lived in five different countries had
experiences opportunities that like I said I could have never envisioned I
came back I’ve had about a 10-year career in Peoria where I got more
engaged I was living overseas for such a long time I got more engaging the
University in philanthropic activity with my wife Nancy
nothing is in that in that arena was more important than the universe of
Illinois where we came deeply involved in both the student athlete experience
as well as academics with a focus on sustainability energy in the environment
so we’re very passionate of the University I guess my primary
objective is to give back and make sure that the opportunities that were
available to us are going to be available to kids in the future so that
they can grow and have the same experiences that I had it’s very
important to us so enough about me let me now bring out the the panel and first
we have Jose I’m sorry first we have Nita don’t worry about the order and
Jose and Saul Morse. you guys take a seat and we’ll go through the rest of the
interventions right indeed I’m going to start with an
introduction on you’ve got a very interesting background need to receive
the Bachelor of assignments in home economics from the University of
Illinois urbana-champaign and in the College of aces in 1970 later received
an associate degree in nursing for Parkland College and an MBA in health
care administration from the University of Phoenix she retired as a registered
nurse from Phoenix Children’s Hospital and now serves as president secretary of
the f2 Family Foundation her volunteer service includes Arizona State
University Foundation value of his son United Way and the wellness community
Arizona she served on the Foundation Board of Directors since 2007 and as you
heard this morning she was just recognized as a life director welcome
Thank You Jose Santillan received the BS in accounting from the College of Business
Administration at the University of Illinois at Chicago in 1980 went on to
earn an MBA from DePaul University he serves as a senior securities compliance
examiner and an industry expert for the US Securities and Exchange Commission’s
asset management unit he has served in board roles for the following Trinity
health and mercy investment services the United Way of metropolitan Chicago CFA
Society of Chicago and Holland large-cap growth fund. He is a fellow of leadership
Greater Chicago and was selected as a business leader of color by Chicago
United and Jose served with us on the Foundation Board since 2011 welcome and lastly, Saul Morse. Saul received his BA in
history at the University of Illinois urbana-champaign in 1969 and his JD in
1972 from the University of Illinois College of Law he’s an attorney at Brown
Hey and Stevens LLC concentrating on matters related to government regulation
health care and general practice he served as chairman of the Illinois
guardianship and advocacy commission is a member of the Illinois Human Rights
Commission and the Illinois comprehensive health insurance plan
board his board service includes the community foundation for the Land of
Lincoln post-polio health international innovate Springfield Temple Israel
Springfield Hope Institute the United Way of central Illinois and the March of
Dimes central Illinois region he has served as a foundation is a foundation
board of directors since 2015 so welcome all the panels so you’re a little bit
about my background let’s find out a little bit about each of the panelists
so you know why don’t you start us off and give us a little bit about your
background in connection to the University how you became so passionate
and support well I’m a first-generation college student from a farm near Joliet
and I had opportunities because of a loving family but not because of major
finances so coming to the University of Illinois was a big big deal but coming
to the College of Agriculture was actually a nice embrace as a 4h er I I
kind of knew what I was doing and I knew people I met my husband here we’ve had a
great great round it’s now 50 years of traveling around the country and being
involved in a number of things and the last thing was Petsmart and so we’ve
been able to use the foundation funds that were generated on a wonderful run
being involved with animals to now invest in humans and that’s been really
exciting because we’ve been able to do some things that really we
believe really matter and one of the biggest things is investing here solve
about your journey different I did not come from Illinois I grew up in
Philadelphia when I was getting ready to graduate from high school there was only
one University in the country that would accept a person with a disability and
incorporate them fully within campus life that was right here
I stayed through law school I had thought I’d go back east the family for
for that but I had such a wonderful experience and stayed enjoyed everything
about it I love the University it gave me the opportunity to be in the
profession that I had sought it gave me the education which enabled me to represent some of the highest elected
government officials to argue cases in in the Supreme Court have a full
practice of law and to stay involved and I doubt that I could ever give back
close to what I got josè tell us about your journey at UIC
how many hours do we have so in honor of Hispanic Heritage Month voy a hacer esto
en espanol completamente para ustedes happen no no okay all right all right
already so the actually that’s part of the journey my first nine years of life
was in Mexico City came to the US with not speaking a word of English and
wondering why there’s silent E’s in the language if it’s a silent e why not but
anyway neither here nor there like Nita I was the first in the family to go to
college as a matter of fact that never intended
to go to college in our culture there is no such thing as but as borrowing so
there would be no student loans and the state of Illinois gave me a five year
scholarship so you as donors in the state of Illinois allowed me to enter a
new chapter in that no one in my family had ever entered University of Illinois
in Chicago was the only place I knew couldn’t afford room and board so
therefore that’s where I would go I always waited for that Halsted bus to
come and the five and I don’t understand how the state knew that I would take me
five years to get an accounting degree but they figured that out right away so
I am a big believer in scholarships it’s been a very impactful for me myself my
family and now is endow a scholarship for those that follow me so it’s been a
interesting journey and yes I in Spanish is my first language and I can speed up
this meeting really quick so thank you thank you sue for the invite I’ll be
back to you on that so let’s talk a little bit about
philanthropic philosophies and Nita you’ve had you mentioned you’re now
investing in humans but you’ve also had a focus on facility investment and the
like so give us a little background on how you got to that what drives you well
a few years ago I’ve served on the board now 12 years moving into life membership
and it’s gone quickly but early on in that just before then being a graduate
of the College of Agriculture being involved over there actually knowing the
South Farms in the south part of the campus and not getting too far north it
it’s it was very obvious to us ice filling myself that the spice box and
the veer Hall was it a gem of a facility for the whole campus actually but it had
gotten very rundown since we had been in school so we invested in the facilities
there spiffed up and I thought I was very very thrilled at how responsible
the University of the College of Agriculture and whoever their
contractors were with our money finishing off the spice box in a
beautiful way enhancing the cafe so now it’s actually a magnet for Kennedy the
students all over the campus to find a great place to get a snack and to find a
quiet place to study or to pull together a group and they had money left over
that they used to underwrite graduate students in nutrition for a number of
years which was an additional bonus and I think a very very great way to steward
our money so the fact the investment in facilities also enhanced scholarships
for grad students so I’m pleased great story us all I know your philanthropic
activities have focused on building leadership among students and tell us a
little bit about that and maybe some anecdotes that you might have around
that subject well let me let me first say that the country the philanthropic
action that I take is really a family matter I like
who is the only one in our family without the U of I degree which both of
our children love to remind her of we’ve always been very active in the
communities in which we live we think that it’s very important and have tried
to provide leadership so while I have over the years contributed to various
things at the University both in Urbana and in Springfield we believe strongly
in scholarships and we do have a scholarship at at UIs which is very
important to us we donate to scholarship monies for the College of Law similarly
very important to us at UIs with the development of the new Student Union we
had the opportunity to play a role in the development of their Centre for
volunteerism and student leadership which goes to the philosophic history of
that university within the system and to develop leaders there and if I may to
experiences I’ve had with in the last week have reinforced that for me I serve
as the chair of the Board of Visitors the college applied so Health Sciences
here yesterday we had a meeting and we have student representation I saw
leadership displayed yesterday in that meeting and at other times by the
students particularly one wonderful young man last week as a member of the
search committee for the new athletic director at the U of I’s Springfield as
a community member our committee after a very long day was
deadlocked on one candidate and a student member who was a basketball
player really stepped in and provided insight and guidance and helped the
entire committee to reasonable differences it was it was really
wonderful both young men are students of color both are first in their family to
attend University one is from Chicago he wouldn’t be here but for scholarship one
is from a small town in southern Illinois he wouldn’t be at UIs but for
scholarship so seeing the development of leadership at two of the universities
within the system not to ignore UIC is very rewarding that’s a great story
Jose I think one of the things that should be obvious to everybody here is
that while these three institutions are fundamentally different so are the
interests of the donors who support them and give us whole perspective from your
side on that I love all three I have to have to start with that I’m a regulator
so I love all three yeah it’s very it’s as I’ve become a board member and I’ve
had my tenure and visited all three campuses or all three universities it’s
it’s very different cultures but yet you know the one system the proud aspect of
the ones one system is it comes forth clearly my
upbringing at UIC has a lot of similar profiles of first-generation it’s
predominantly a commuting school although within some of the new
buildings that are going up it’s exciting but it’s predominately
community commuting school so it’s a very different culture in terms of the
environment and and the interaction at the same time it’s very rewarding I give
you believe it or not I am an introvert a very deep introvert so you don’t can
imagine what’s going on you’re failing yeah but you know the university really
puts you in a position to succeed and I think that has been pushed forth in the
scowl of the endowed scholarship I’ve had because now I get to meet myself
multiple times I’ve gotten a chance to meet myself seven times in the sense it
was the same profile with the same passion to want to succeed to want to
contribute on this campus I am blessed that I have a daughter here and so she
actually does tours for prospective students and so she gave me that
different perspective of this large campus of the dynamics of the vibrancy
and then I visited Springfield and Springfield to me was just unbelievably it was just just pristine it was just
again the same passion of a system so it’s exciting to see the three
universities with their own culture but at the same time understand that we all
have faculty we all do research we all have great students and your donations
our donations really impact those touch points those touch points to me and
again it’s this combination of the three universities it’s a multiplier effect
one thing student mentioned is my prior career I was a chief investment officer
and then I retired so I like the multiplier effect and the multiplier
effect is that your donations the more touch points you have the more
multiplier it occurs and the benefits to the not only Society the state of
Illinois etc but it’s fascinating member it’s you tell you two friends and they
tell two friends and they tell two friends that’s how my scholarship
the pins are gonna be you know the one thing I’ve always told him is you I want
you to give back when you are successful you will get back and they all you see
it in their eyes and see it’s incredible to see that in their eyes I will keep
going because as a Latino I can take the podium and speak for hours I’ll stop
there sarees dude yeah I think this could go on for quite a while they’ve
all got a lot of stories and anecdotes and hopefully you’re all finding this
motivational I guess maybe a way to interrupt this up is you know I guess
what are you most proud of if it’s your philanthropy with the universe for
Illinois and what keeps you what keeps you motivated and engaged
neither maybe you first I’d say students and state students in state we don’t
live in in you never in Illinois anymore although the pull here is magnificent
and it’s fun to be on the board so I have to be involved and make the trip
from Phoenix and that gives another perspective of I know there’s beautiful
mountains there’s beautiful rivers Illinois has cornfields you can see
flatland forever I have to come back every season to check in so the state
means a lot to me and certainly the students if you ever get caught up in
things that are difficult personal things that are difficult or the news
makes you crazy seeing students on any of these campuses is so inspiring
absolutely so inspiring so it’s a privilege to be able to be in a position
to give something back and then it’s very inspiring to see where it goes and
how well it’s used so how about you the three universities in this system are
for me such wonderful realizations of the development of the land-grant
University one of the major accomplishments of Abraham Lincoln being
from Springfield now practicing in a law firm in which
Lincoln once practiced that is very important to me
seeing the student says has been said is so reassuring that the future is
solvable despite so many problems that that we face they are bright they are
energetic they are enthusiastic and I think as Jose said when you look in
their eyes and you see them understanding it having gotten to meet
some of the recipients of the scholarship that Ann and I have endowed
and here and some of them I follow up with and I know where they are now just
makes it all worthwhile Jose yeah what motivates me what keeps
me going is I truly believe that I’ve been given so much that it’s my
responsibility to as long as I can give back and again that only the multiplier
effect but the fact that giving back will impact generations to come so I
think it’s my responsibility I think our responsibilities donors to
continue to give as much back because this will last for generations to come
and again we focus on the students but you don’t realize I talked to the
faculty at UIC the passion they have it’s in their eyes to to to get
donations for research to continue to be able to mold these minds what a
responsibility so I truly believe that keeps me grounded here and and if they
don’t want me on the board I will do maintenance here but it does it’s a wonderful legacy to
have and I can tell you I want to thank you all because surely for me it’s made
a difference for my children my family and those scholarship recipients and it
I get emotional and Latinos cannot get emotion
thank you no thank you thank you well I think I think we’re about out of time
but maybe in summer here hopefully you’ve seen the collective power of
giving I think in real practice and not so much what we’re all doing that may be
why we’re doing it you know I know what the message you take away from this is
that these three institutions represent a tremendous breadth of opportunity both
for your engagement and then also your your support both in time and in time
and treasure and we would just encourage you to join us and support these
institutions as they move forward to create you know greater opportunities
for kids in the future so on behalf of the panel I’d like to thank you all
let’s give the panel a round of applause yeah thank you for your continued
support thank you thank you very much hi my name’s Tara Patterson I’m a senior
majoring in communication I’m actually graduating in the spring of 2020 some
things that I’m really appreciate about UIC is how diverse this university is
there’s people from both in like the suburbs to actually from Chicago and
then of course people from around the world so it’s really fun to like go to
class and meet people with different perspectives and I’m like really
thankful for everything that the donors have given given me and my peers to be
able to excel and have that financial burden lifted off their shoulders hello donors my name is Mathew Neal I’m
the recipient of the Ross Cybersecurity Scholarship the Naomi Lind scholarship
as well as a Pearson’s capital scholar scholarship I’d like to take this time
to thank each and every one of you for the gift that you have given students
like myself it really helps limit the financial burden that is placed upon me
as I continue on to my master’s degree in cyber security I hope to one day
better protect the internet through network and cyber security in terms of
personal data thanks again for your generous gift hello I’m Preston Lewis a
freshman at East College of Business thank you for generously donating to the
Illinois demon fund without donors like you students like myself would not have
had the possibility of attending the University of Illinois I hope that you
continue to generously donate to the commit fund to make college dreams come
true my name is Mark Smolenski and I’m
majoring in marketing here at the College of Business at UIC
I came here originally because my dad was an alumnus I appreciated that at
first city that school offers and allows me to make connections people I wouldn’t
have anywhere else and the access to the education system that is provided here
besides that I’m graduating in spring 2020 and I just want to offer my thanks
for all the alumni out there who give them back and I’ve allowed me to pursue
my education here at UIC thank you my name’s Robert Nair Wenge and I am
one of the recipient of our buff cell scholarship and the Berlin family’s scholarship I would like to thank you very much for your generosity
most guys shouldn’t have me to pay my one part of my tuition I wasn’t here to
express my deep appreciation for that once again thank you so much for your support we appreciate all you have done for us. Go ILLINI! Hello again. Thank you Stu, Saul, Nita, and Jose. We’re very much
enjoyed hearing how you have woven higher education philanthropy into your
lives you know your discussion Illustrated how you can truly embody the
collective power of giving so everyone let’s give our panel one more round of
applause thanks again to the four of you so as I said this is a big weekend for
me as I close out my term as board chair but the time has come and I’m delighted
to welcome and recognize the next University of Illinois Foundation board
chair and that’s Kay Schwichtenberg. Kay has her MBA from the University of
Illinois at Chicago and is soon to be retired as president and CEO of central
Life Sciences a firm specializing in the development manufacturing and marketing
of animal health public health and agricultural products McKay also serves
on a number of boards and as a member of the committee of 200 an invitation-only
membership organization of the world’s most successful entrepreneurs and
corporate leaders ok we greatly appreciate your willingness to serve as
board chair for the next two years and I know you will bring terrific leadership
to the board and it’s my privilege passed the baton on to you if I had a
baton I would give it to you Kay Schwichtenberg everyone thank you so much Alan I am honored and
definitely excited to begin my term this weekend and I look forward to a lot
working alongside of you in the service of the University of Illinois Foundation
and and certainly our three wonderful universities urbana-champaign Chicago
and Springfield but before we conclude the program I need to allow me one
additional introduction I’d like to introduce you to my favorite aunt my
favorite really favorite spouse of 33 years Hermann Baumann a few things you
probably need to know about him as you go about your day and we go to the
football game tomorrow and all of this this afternoon I there are a few
cautionary tales but so here’s one he’s a Badger – did I mention that he’s a
Badger three he loves Big Ten football with the exception of Ohio State and
Michigan so that makes him a good guy right I mean that you can’t argue that
and and four and here’s the most important one when you introduce
yourself to him do it at your own risk because he has insulting sits his
journalistic background and he can’t help himself so honey would you like to
stand and show your face to all these people so I know I’m standing between all of
you in lunch so let’s conclude this morning’s program and on behalf of the
University of Illinois Foundation I’d like to thank all of you for joining us
today for the new 84th Annual Meeting as you saw from you know the program today
is your dedication and involvement are critical to the success of this
organization and are definitely appreciated particularly by faculty and
students I hope you enjoy the rest of this weekend there’s plenty of you know
plenty of things to do I don’t know what the weather looks like on the other side
of those doors I guess we’ll all find out together but enjoy the rest of the
weekends of festivities but get your BlackBerry’s out and your Apple phones
and please save the date for next year’s foundation weekend which will be October
22nd to 24th 2020 so again thank you all for being here today and we’ll see you
at lunch Thanks

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