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National organization taps her for top award

U.Va. Treasurer Alice Handy Honored For Work In Building University's Endowment

August 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.

The 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 officers.

"Alice 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."

With 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 $2.3 billion.

In 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.

Handy 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.

She has a bachelor of arts from Connecticut College in New London and has done graduate work in economics at U.Va.

NACUBO's 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.

Contact: Ann Overton, (434) 924-1325

FOR ADDITIONAL INFORMATION: Contact the Office of University Relations at (804) 924-7116. Television reporters should contact the TV News Office at (804) 924-7550.
SOURCE: U.Va. News Services

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Last Modified: Tuesday, 14-Aug-2001 09:55:13 EDT
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