organization taps her for top award
Alice Handy Honored For Work In Building University's Endowment
14, 2001-- Alice W. Handy, longtime treasurer of
the University of Virginia, recently received a top national award
recognizing her leadership role in the growth of U.Va.'s endowment.
National Association of College and University Business Officers
(NACUBO) presented Handy its Rodney H. Adams Award, which honors
"outstanding individual contributions
in the area of university
endowment and investment management." The award is one of five that
NACUBO, based in Washington, D.C., gives annually to academic business
Handy has served the University of Virginia with distinction for
more than 25 years," said Leonard W. Sandridge, U.Va. executive
vice president and chief operating officer. "We have always appreciated
her exceptional skills in managing the University's endowment, and
now her professional peers have recognized them as well. Under her
direction, U.Va.'s endowment has grown from $60 million in 1974
to approximately $1.8 billion this year, a level of return that
would make any business proud."
the exception of 14 months in the late 1980s when she was appointed
state treasurer, Handy has been at the University since 1974, where
she was the school's first investment officer. As assistant vice
president and then treasurer, she oversees the investment of endowment
and operating funds and the issuance of debt. The addition of trustee-held
and endowment assets of University-related foundations, which Handy
actively supports, raises U.Va.'s total private assets to more than
1998, Handy became president of the new University of Virginia Investment
Management Company. Under her direction, the pooled endowment fund
returned an average of 16 percent for each of the 20 previous years.
She consults on investment matters for University-related foundations
and also helped form the University of Virginia Real Estate Foundation
and the Historic Renovation Foundation.
is a member of the Thomas Jefferson Foundation (Monticello) and
is on the board of First Union National Bank of Virginia, Maryland
and the District of Columbia. She recently retired from the Virginia
Retirement System Investment Advisory Committee and the Investment
Fund for Foundations.
has a bachelor of arts from Connecticut College in New London and
has done graduate work in economics at U.Va.
other awards recognize outstanding achievements in college and university
business and financial management, accounting and reporting, professional
development activities and publications programs, as well as outstanding
professionals who have high potential to succeed as a higher-education
executive. Minnis E. Ridenour, executive vice president and chief
operating officer of Virginia Tech, received NACUBO's Distinguished
Business Officer award.
Ann Overton, (434) 924-1325