Skip to Content

Meeting Information

EXTERNAL AFFAIRS COMMITTEE
Saturday, January 30, 1999
9:45 - 10:15 a.m.
East Oval Room, The Rotunda


Committee Members:

Henry L. Valentine, II
John P. Ackerly III, Ex Officio
Charles M. Caravati, Jr.
T. Keister Greer, Chair
Elsie Goodwyn Holland
Terence P. Ross
Albert H. Small
Elizabeth A. Twohy

AGENDA

I. REPORTS BY THE VICE PRESIDENT FOR DEVELOPMENT (Mr. Sweeney)
Vice President's Remarks
Philanthropic Cash Flow
Capital Campaign
Campaign Progress
Fund-Raising Initiatives
Scott Stadium Construction and Fund-Raising Progress (Mr. Sweeney and Mr. Holland to report)
Miscellaneous Report
Report on University Foundations (Mr. Sweeney to introduce Mr. Sandridge; Mr. Leonard W. Sandridge, Jr. to report)


A.1. Philanthropic Cash Flow

BACKGROUND: A statistical review of fund-raising cash gifts received for the period July 1 November 30, 1998. Emphasis will be placed on measuring performance compared to Fiscal Year 98 and the previous three Fiscal Years.

DISCUSSION: Cash flow for November 1998 was $12.3 million. Year-to-date totals now stand at $47.9 million. November was a significant month for cash flow progress, decreasing by half (to 14%) the year-to-date variance from the Fiscal Year 98 record cash flow total. Progress over the life of the Campaign continues to be very strong, with increases of 58% and 75% as compared to Fiscal Year 97 and Fiscal Year 96, respectively.

ACTION REQUIRED: None


A.2.a. Capital Campaign Progress

BACKGROUND: The Capital Campaign remains the top priority for University of Virginia fundraising. Progress will be reported through November 30, 1998. Discussion will also cover major gift strategy through the balance of the Campaign.

DISCUSSION: At November 30, 1998, the Campaign total raised to date stood at $799.1 million, with $711.3 million in gifts and pledges and $87.8 million in future support. With the Campaign in its final two years, statistical analysis of progress to date will allow for projection of end-of-Campaign totals.

The University Development office staff recently reviewed the entire list of unassigned major prospects. The process provided a good opportunity to review the remaining potential in the major prospect pool. In addition, the major gifts area is re-focusing its efforts on very large donors and prospects. This approach will ensure that all million-dollar prospects receive a gift proposal and solicitation before the end of the Campaign, and that current million dollar donors are provided the opportunity, when appropriate, to make another major gift.

ACTION REQUIRED: None


A.2.b. Fund-Raising Initiatives

BACKGROUND: Recent key fund-raising initiatives involve the annual fund, direct mail and phone solicitations, as well as promoting gifts of appreciated assets.

DISCUSSION: Annual Fund and Direct Mail major prospects, Strategies: In cooperation with the Alumni Associations Young Alumni Council, a special annual fund mailing was sent recently to 27,000 non-reunion undergraduate alumni from the last ten years. The theme of the mailing was "Make Your Mark" - one of the Campaign themes - and included references to Beta Bridge. The Alumni Association has developed a website using the same theme and images, which can be accessed through the Alumni Association home page, and includes an electronic link to an on-line giving form. In addition, direct mail and Phonathon strategies are being tested to reach the large population of "lower level" major prospects, those at the $10,000 - $100,000 level. Because the number of these prospects is too great to allow for a personal visit with each one, a combination of letters, calls and visits is being employed.

Appreciated Securities Gift Effort: The Campaign Co-Chairs spearheaded an effort, through a year-end mailing, to encourage donors to make gifts of securities while the stock market remains at a high level. Anecdotal information regarding securities gifts during the month of December indicates that use of this gift vehicle increased this year. Plans call for continued communication encouraging the use of appreciated assets in making Campaign contributions.

ACTION REQUIRED: None


B. Scott Stadium Construction and Fund-Raising Progress

BACKGROUND: Demolition and construction at Scott Stadium began immediately after the completion of the home football season in November 1998. Bryant Hall and the lower bowl seating will undergo complete reconstruction this year, to be finished by the beginning of the 1999 season. Stadium fundraising remains strong, with over $15.3 million in gifts and pledges raised to date toward the $20 million goal.

DISCUSSION: Demolition, construction, the bidding process, and the overall timetable for the Carl Smith Center project at Scott Stadium are all on schedule to date. All demolition work has been completed. Over 80% of all of the contracts have been awarded, including all of the major structural components. The overall project to date is within 1% of the final design cost estimate. Because of the favorable fall weather, the project has proceeded on schedule. Additional work has been added to Phase II to take advantage of construction efficiencies and coordination issues. Besides the lower bowl of seating, the various support units in the lower level of Bryant Hall (locker rooms, media room, etc) should be completed for the beginning of the 1999 football season.

The Stadium fund-raising effort received a big boost in December with the receipt of two anonymous commitments totaling several million dollars. This phase of the Athletics Campaign is scheduled to be completed in fall 2000. Proposals totaling $7 million have been submitted to prospective donors. In addition, a $2.5 million initiative targeted at former football players will be launched in the first quarter of 1999.

ACTION REQUIRED: None


C. Miscellaneous Report/Report on University 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 was assigned to the Office of the Assistant Vice President for Business Operations. 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 Office of Business Operations 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 Business Operations 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 Business Operations.

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 Boards Policy.

ACTION REQUIRED: None

MORE MEETING INFORMATION PAST MEETINGS PUBLIC MINUTES

 

Committee Members:

Henry L. Valentine, II
John P. Ackerly III, Ex Officio
Charles M. Caravati, Jr.
T. Keister Greer, Chair
Elsie Goodwyn Holland
Terence P. Ross
Albert H. Small
Elizabeth A. Twohy

AGENDA

I. REPORTS BY THE VICE PRESIDENT FOR DEVELOPMENT (Mr. Sweeney)
Vice President's Remarks
Philanthropic Cash Flow
Capital Campaign
Campaign Progress
Fund-Raising Initiatives
Scott Stadium Construction and Fund-Raising Progress (Mr. Sweeney and Mr. Holland to report)
Miscellaneous Report
Report on University Foundations (Mr. Sweeney to introduce Mr. Sandridge; Mr. Leonard W. Sandridge, Jr. to report)


A.1. Philanthropic Cash Flow

BACKGROUND: A statistical review of fund-raising cash gifts received for the period July 1 November 30, 1998. Emphasis will be placed on measuring performance compared to Fiscal Year 98 and the previous three Fiscal Years.

DISCUSSION: Cash flow for November 1998 was $12.3 million. Year-to-date totals now stand at $47.9 million. November was a significant month for cash flow progress, decreasing by half (to 14%) the year-to-date variance from the Fiscal Year 98 record cash flow total. Progress over the life of the Campaign continues to be very strong, with increases of 58% and 75% as compared to Fiscal Year 97 and Fiscal Year 96, respectively.

ACTION REQUIRED: None


A.2.a. Capital Campaign Progress

BACKGROUND: The Capital Campaign remains the top priority for University of Virginia fundraising. Progress will be reported through November 30, 1998. Discussion will also cover major gift strategy through the balance of the Campaign.

DISCUSSION: At November 30, 1998, the Campaign total raised to date stood at $799.1 million, with $711.3 million in gifts and pledges and $87.8 million in future support. With the Campaign in its final two years, statistical analysis of progress to date will allow for projection of end-of-Campaign totals.

The University Development office staff recently reviewed the entire list of unassigned major prospects. The process provided a good opportunity to review the remaining potential in the major prospect pool. In addition, the major gifts area is re-focusing its efforts on very large donors and prospects. This approach will ensure that all million-dollar prospects receive a gift proposal and solicitation before the end of the Campaign, and that current million dollar donors are provided the opportunity, when appropriate, to make another major gift.

ACTION REQUIRED: None


A.2.b. Fund-Raising Initiatives

BACKGROUND: Recent key fund-raising initiatives involve the annual fund, direct mail and phone solicitations, as well as promoting gifts of appreciated assets.

DISCUSSION: Annual Fund and Direct Mail major prospects, Strategies: In cooperation with the Alumni Associations Young Alumni Council, a special annual fund mailing was sent recently to 27,000 non-reunion undergraduate alumni from the last ten years. The theme of the mailing was "Make Your Mark" - one of the Campaign themes - and included references to Beta Bridge. The Alumni Association has developed a website using the same theme and images, which can be accessed through the Alumni Association home page, and includes an electronic link to an on-line giving form. In addition, direct mail and Phonathon strategies are being tested to reach the large population of "lower level" major prospects, those at the $10,000 - $100,000 level. Because the number of these prospects is too great to allow for a personal visit with each one, a combination of letters, calls and visits is being employed.

Appreciated Securities Gift Effort: The Campaign Co-Chairs spearheaded an effort, through a year-end mailing, to encourage donors to make gifts of securities while the stock market remains at a high level. Anecdotal information regarding securities gifts during the month of December indicates that use of this gift vehicle increased this year. Plans call for continued communication encouraging the use of appreciated assets in making Campaign contributions.

ACTION REQUIRED: None


B. Scott Stadium Construction and Fund-Raising Progress

BACKGROUND: Demolition and construction at Scott Stadium began immediately after the completion of the home football season in November 1998. Bryant Hall and the lower bowl seating will undergo complete reconstruction this year, to be finished by the beginning of the 1999 season. Stadium fundraising remains strong, with over $15.3 million in gifts and pledges raised to date toward the $20 million goal.

DISCUSSION: Demolition, construction, the bidding process, and the overall timetable for the Carl Smith Center project at Scott Stadium are all on schedule to date. All demolition work has been completed. Over 80% of all of the contracts have been awarded, including all of the major structural components. The overall project to date is within 1% of the final design cost estimate. Because of the favorable fall weather, the project has proceeded on schedule. Additional work has been added to Phase II to take advantage of construction efficiencies and coordination issues. Besides the lower bowl of seating, the various support units in the lower level of Bryant Hall (locker rooms, media room, etc) should be completed for the beginning of the 1999 football season.

The Stadium fund-raising effort received a big boost in December with the receipt of two anonymous commitments totaling several million dollars. This phase of the Athletics Campaign is scheduled to be completed in fall 2000. Proposals totaling $7 million have been submitted to prospective donors. In addition, a $2.5 million initiative targeted at former football players will be launched in the first quarter of 1999.

ACTION REQUIRED: None


C. Miscellaneous Report/Report on University 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 was assigned to the Office of the Assistant Vice President for Business Operations. 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 Office of Business Operations 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 Business Operations 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 Business Operations.

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 Boards Policy.

ACTION REQUIRED: None


BOV Home | About the BOV | Past Meetings |
January 1999 Meeting | Between Session Meetings