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Meeting Information

EXTERNAL AFFAIRS COMMITTEE

Friday, February 25, 2000

11:15 a.m. - 12:00 p.m.

East Oval Room, The Rotunda

Committee Members:

Timothy B. Robertson, Chair Albert H. Small Charles M. Caravati, Jr., M.D. Henry L. Valentine II Elsie Goodwyn Holland John P. Ackerly, III, Ex Officio Terence P. Ross

I. REPORTS BY THE VICE PRESIDENT FOR DEVELOPMENT (Mr.Sweeney)

A. Vice President's Remarks

  1. Year 2000: Fund-Raising and Communication Strategy
  2. Campaign Transition Strategy
  3. Kenan Challenge
  4. Public Affairs Issues
  5. Scott Stadium Expansion Fund Raising

B. Philanthropic Cash Flow

C. Campaign Progress

D. Miscellaneous Report

  • Report on University-Related Foundations (Mr. Sweeney to introduce Mr. Sandridge; Mr. Leonard W. Sandridge to report)



A.1. Year 2000: Fund-Raising and Communication Strategy

BACKGROUND: Gifts received in December 1999 have now pushed the Campaign totals beyond the $1 billion mark. However, with one full year left in the Campaign, it will be important to maintain momentum through December 31, 2000 to continue to raise funds for unmet and newly identified needs. The Development Office has put together a communications effort to encourage donors to think "Beyond A Billion" and to highlight opportunities for giving at the University.

DISCUSSION: The "Beyond A Billion" concept includes both communications and fund-raising strategies. The goals of the communications plan include making key constituencies, such as the University community, alumni and the public, aware of the Campaign's accomplishments from mere dollars raised to the real impact these funds have made on students, faculty and donors.

Vehicles which will be used to convey these messages include: a short, attractive piece announcing the achievement of the Campaign goal, and beginning to express the on-going aspirations for the University made possible by donors' gifts; a special magazine insert publication, profiling several different combinations of donors, and students or faculty who have benefited from specific Campaign gifts; a new website using the same information and images from the magazine insert; half-time videos to be aired during ACC games, highlighting the achievements and on-going opportunities of the Campaign; and special school publications.

The objective of the communications effort will be to thank alumni and friends for their gifts, to inform them about the impacts of their philanthropy, and to let them know that the Campaign is not yet over.

There is also a solicitation strategy that will focus on giving EVERY alumnus, parent and friend the opportunity to make either their largest annual gift or a comprehensive Campaign pledge prior to the end of the Year 2000. The direct mail, phonathon and personal solicitation strategies will be discussed.

ACTION REQUIRED: None

A.2. Campaign Transition Strategy

BACKGROUND: At the same time that we are concluding the current $1 billion + Campaign, the University must maintain the energy of its staff, alumni and donors to continue aggressive fund raising once the Campaign ends. The Board of Visitors, the University administration and the Campaign's Executive Committee have all endorsed seeking unprecedented levels of fund raising over the next five years.

DISCUSSION: The Vice President for Development will discuss specific goals and approaches for the Campaign transition strategy, following up on the outline presented to the Board at its last meeting. The Vice President will touch on plans to employ new volunteers, approaches for continuing to cultivate donors and introduce new funding initiatives in the absence of a formal "campaign" structure. Central to the success of this concept will be maintaining cooperative efforts within the University development community.

ACTION REQUIRED: None



A.3. Kenan Challenge

BACKGROUND: In 1998, the Kenan Charitable Trust followed up its first successful challenge for Pavilion VII (a $1 million challenge matched "one-for-one") by issuing a new challenge to the University. The Trust agreed to provide $500,000 in matching funds if $1 million were raised by the University by December 31, 1999 for endowment to benefit the Academical Village. The $500,000 would create the William R. Kenan Jr. Endowed Fund for the Academical Village. Qualifying for the match were any endowment gifts received for the care of the historic gardens, for the preservation of the Jeffersonian structures, or for support of historic grounds educational programs.

DISCUSSION: The Kenan Challenge was met by the deadline in December 1999. Income from the Kenan Fund will finance educational initiatives related to the University's original buildings and grounds, such as instructional programs for students and interpretive activities for visitors, as well as funding the training of specialists in historic preservation. The Vice President for Development will discuss historic preservation fund raising and plans for the endowments provided by the Kenan Trust and by the matching donors.

ACTION REQUIRED: None



A.4.Public Affairs Issues

BACKGROUND: In November 1999, President Casteen announced several administrative changes related to the implementation of the University's long-range plan. As part of these changes, responsibility for the University's public affairs agenda was transferred from Executive Vice President Leonard Sandridge to Vice President Robert Sweeney.

DISCUSSION: The Vice President for Development has been charged with studying the current public affairs structure and making recommendations about possible improvements to its operations. He will outline his plans for this study, including description of a timeline for the process, involvement of University public relations professionals throughout the Grounds, collection of benchmarking data and consultation with peer universities. The President has asked that recommendations be provided by July 1, 2000.

ACTION REQUIRED: None



A.5. Scott Stadium Expansion Fund Raising

BACKGROUND: Fund raising for the expansion of Scott Stadium had its public kickoff in September 1998, with a goal of $20 million, and a five-year timeline. In February 1999, the fund-raising goal was increased to $25 million. There is continuing discussion that, to meet new stadium construction initiatives, the Campaign will need to raise in excess of $27 million. The Vice President for Development will report on progress to date.

DISCUSSION: The total for Scott Stadium fund raising as of 12/31/99 was $21.4 million in cash, pledges and deferred gifts. Intense solicitation is still taking place with $8.9 million in outstanding proposals still being negotiated. In addition, $250,000 in financial commitments has been received for 22 suites, with verbal pledges in hand for over five more. Thirteen suites are remaining.

ACTION REQUIRED: None

B.Philanthropic Cash Flow

BACKGROUND: A statistical review of fund-raising cash gifts received for the period July 1, 1999 - January 31, 2000. Emphasis will be placed on measuring performance compared to Fiscal Year 1999 and the previous three Fiscal Years.

DISCUSSION: With the receipt of the gift of $61 million from Frank Batten and a very strong year-end payment of outstanding pledges, preliminary numbers will not be sent to Board members with Board meeting materials because they will not accurately reflect progress. It is anticipated that cash flow for Fiscal Year 2000 will be at an all-time high. This trend will be confirmed with the Board through the presentation of cash flow figures through January 31, 2000.

ACTION REQUIRED: None

C.Campaign Progress

BACKGROUND: The Capital Campaign remains the top priority for University of Virginia fund raising. Progress will be reported through January 2000.

DISCUSSION: With the Batten gift and several major year-end commitments, the Campaign has exceeded all goals and all expectations, one year ahead of schedule. The overall goals for the Campaign ($1 billion), outright support ($900 million) and future support ($100 million) all have been surpassed. There will be a review of our "Millennium Gift" strategy (commitments of $10 million or more) and status of continuing major gifts strategy.

ACTION REQUIRED: None

D.Miscellaneous Report

University-Related Foundations

BACKGROUND: The Board of Visitors approved the Policy on University-Related Foundations on October 9, 1992. The Policy applies to all foundations that are established and operated for the University's benefit and that use the University's name and resources. The Policy was designed to ensure efficiency and accountability of University foundations, as well as to maintain the foundations' independence and integrity.

The responsibility to ensure sufficient University monitoring of the foundations' compliance with the Policy rests with the Assistant Vice President for Finance. A status report on compliance with the Policy is provided to the Board of Visitors annually.

DISCUSSION: During the year, each foundation submits to the Assistant Vice President for Finance certain reports specified in the Policy, including, but not limited to, minutes of board meetings, audited financial statements, approved operating budget, amendments to by-laws, and tax returns. The Assistant Vice President for Finance reviews this information, and any questions are discussed with the appropriate foundation and brought to the attention of the President and/or the Executive Vice President.

In addition, certain transactions and activities require approval of the President or his designee; these approvals are coordinated by the Office of the Assistant Vice President for Finance.

The Policy is fulfilling its purposes. It has improved communication and the flow of information between the foundations and the University. Foundations have fully cooperated in complying with the requirements set forth in the Board's Policy.

ACTION REQUIRED: None

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Susan Harris, Secretary to the Board of Visitors (e-mail: sgh4c@virginia.edu)

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