Donors Contribute Over $26 Million, An All-Time Record

Despite economic downturns and post-September 11 challenges, total philanthropy to benefit the University at Albany reached an all-time record of $26 million during 2001-2002, an increase of more than $6 million over the previous year.

The largest portion of this support, much of it in the form of scientific and technological equipment, came from corporate sources and was directed to campus units engaged in instructional and research activities. Substantial philanthropic support came through The University at Albany Foundation (UA Foundation), and a number of grants were processed through the SUNY Research Foundation (RF).

Two key beneficiaries were the University’s new School of NanoSciences and NanoEngineering and its Institute for Materials, and the Life Sciences Research Initiative, but private support also played an important role in a wide variety of other UAlbany programs.

Of the total private support for UAlbany, The University at Albany Foundation received over $7 million in gift commitments from alumni and parents of students, faculty and friends of the University, as well as foundation and corporate grants.

The Foundation is engaged in the drive to raise $20 million in private support to build the University’s strength in life sciences research, and is also engaged in the effort to raise $10 million in private support to preserve and renew the Downtown Campus. Both efforts are important components of the comprehensive multi-year campaign that the University will unveil publicly in April 2003. Over $160 million has been committed to the campaign during its silent phase.

Life Sciences Research Initiative

The fund-raising effort for the University’s Life Sciences Research Initiative was launched in November 2001, and 856 donors have already committed almost $3.5 million of the $20 million goal. Albany Molecular Research, Inc. CEO Thomas D’Ambra and his wife, Constance, kicked off the fund-raising effort with a $1 million gift. D’Ambra serves as chair of the Life Sciences Research Initiative Committee and is also a member of the Campaign/ Development Committee.

Philanthropist Morris Silverman also pledged $1 million in support for the initiative and the University received $1 million from the estate of alumna Carla Delray to support life sciences research.

Corporate donations include a $116,000 equipment gift from X-ray Optical Systems, Inc., $100,000 pledged by United Develop-ment Corp., and $100,000 pledged by George D. Kennedy, High Peaks Ventures.

The Life Sciences Research Initiative is investing more than $100 million in public and private funds to build world-class strength in life sciences research at the University. Of the overall investment, $65 million is being provided by New York State for the construction costs of the $78 million Life Sciences Research Building now rising on campus and scheduled for completion in 2005. About $5 million more for the building will come from research grants. The fund-raising drive will provide $8 million in support for the building and $12 million to recruit and retain nationally prominent research teams. Additional federal and University support brings the total investment to more than $100 million.

Preserving and Renewing the Historic Downtown Campus

The University’s beautiful Downtown Campus has played an important role in University life for almost a century, and now it is about to undergo major renovations to assure it meets the teaching and research needs of the 21st Century. In June 2002, at the New York State College for Teachers Reunion on the Downtown Campus, the University launched a drive for $10 million in private support for the preservation and renovation effort.

Husted Hall, which originally served as the science building when it opened in 1909, is slated for the first major renovation. When the Husted project is completed, teaching spaces now found in Draper, Milne and Richardson halls will be consolidated in Husted. Husted will also have a new façade mirroring the façade of Hawley Hall. The private support will also finance other renovations and redesign – from fresh paint and new desks to new lighting and computer connections – throughout the Downtown Campus. The goal of all the renovations is to provide a learning environment that supports academic excellence.

The Downtown Campus is home to four of the University’s most outstanding graduate schools, each nationally recognized: the School of Criminal Justice, the Nelson A. Rockefeller School of Public Affairs, the School of Information Science and Policy, and the School of Social Welfare.

Foundation Support Tops $7.2 Million

While charitable support directly to the University tends to be in the form of high-tech equipment that is critically needed by schools and departments, contributions to the UA Foundation are usually in cash, stocks, or valuable works of art. Some of the support is outright or in the form of endowed funds, through life-income gifts and various trust-like vehicles, or through bequests and other estate-related instruments. In all, they provide resources dedicated to support the University and its mission.

Individual Gift Highlights

Marjorie Ferrugio Delmar ’58 formalized an estate commitment of $250,000 for the new Center for Jewish Studies, which was inaugurated in April 2002, and another $450,000 to establish an endowment to support the School of Education.

Theodore C. Anderson III, Esq. ’82, pledged $100,000. A member of the Foundation Board, Anderson also serves as a member of the Campaign/Development Committee.

One of the largest contributions through the University’s Charitable Gift Annuity Program was received from Richard and Gertrude W. Sherwin ’48 in the amount of $360,000. In addition, Arthur Smith, husband of the late Maria Kelly Smith ’38, donated a second $100,000 through a gift annuity.

The University received several estate contributions, including $220,000 as the first distribution of a larger commitment from the estate of Mary Whitney Eager ’48. The proceeds of the Raymond Whitaker Charitable Remainder Trust, in the amount of $115,000, established a scholarship fund in memory of his wife, Helena Ubelle Whitaker ’29.

Annual Fund Tops $2.3 Million

With support from more than 14,000 alumni, parents and friends, the Annual Fund met its goal of $2.3 million dollars, its largest to date. Foundation Board members contributed over $125,000.

The Reunion Giving Program passed the $1.5 million dollar mark for classes ending in 2 and 7, the highest ever in the history of the program. Some of the projects being supported include the New York State College for Teachers Progress Fund, the Life Sciences Research Initiative, the Veterans project and class scholarships.

Corporate and Foundation Contributions

Corporate and foundation donations, in particular, reach the campus through multiple channels. For example, IBM’s $100 million commitment last year went directly to establish the Center for Excellence in Nanoelectronics, and this year’s in-kind equipment donation from IBM, valued at $1,551,072, is also supporting the Center. The University’s School of NanoSciences and NanoEngineering and its Institute for Materials, which manages the University’s interdisciplinary research centers in the fields of nanotechnology, nanoelectronics and advanced materials, also received equipment gifts valued at $365,000 from Vecco-CVC, $196,287 from Strausbaugh, and $129,998 from ARC Technologies.

The University’s Department of East Asian Studies is developing new curricula and exchange opportunities, thanks to a $1.9 million grant from the Freeman Foundation through the Research Foundation.

Grants to the UA Foundation from the Hearst and Hartford foundations are helping the School of Social Welfare address the needs of aging persons, their families and their communities. A $500,000 endowment award to the School from the William Randolph Hearst Foundation – the single largest endowment grant to the School to date – established the William Randolph Hearst Endowed Scholarship Fund for Master’s Degree Social Workers in Aging.

With a new endowment of $1.6 million in the UA Foundation, the University’s School of Business has established a Center for Institutional Investment Management that will develop and disseminate knowledge in the field of institutional investing.

East Campus: Thriving Hub for Biotechnology

The East Campus, which the Foundation acquired for the University in 1996 and is now managing, exemplifies how the Foundation is facilitating and nurturing partnerships that are expanding opportunities for University faculty and staff and helping to drive economic growth in the region.

Featuring the co-location of University research faculty, academic programs and private research-driven companies, the East Campus today is a thriving hub for biotechnology and biomedical sciences and it is poised for further growth. State funding enabled the Foundation to add 29 acres last year to the existing 58-acre site, and in the past year, initial planning has delineated seven to nine additional building sites with a capacity for some one million additional square feet of R&D space. One of those sites will be the location of the cancer research center announced by Senate Majority Leader Joseph Bruno in September.

Among the significant developments at the East Campus in the last year was the designation of the University’s School of Public Health as a Center for Public Health Preparedness, one of 15 in a nationwide network that will work to prepare the public health and healthcare workforce to respond to terrorism incidents and other emerging health threats.

The University’s Center for Comparative Functional Genomics (CCFG), located on the East Campus along with the School of Public Health, acquired a Micromass Q-ToF2 mass spectrometer, the only one of its kind in the Capital Region. Used in protein analysis, the $750,000 mass spectrometer has numerous applications for research in medicine and biology, and its use will be shared by academic and industrial research groups. The Q-ToF2 was jointly acquired by CCFG and Myomatrix Molecular Technologies, a biopharmaceutical company focused on treatments for cardiovascular disease.

Councils Strengthen UAlbany Ties to Community

The University at Albany Foundation’s councils continued to promote University programs and strengthen UAlbany’s ties
to the Capital Region.

Council for Economic Outreach

Building relationships with area businesses while highlighting the vitality and economic strengths of the Capital Region is the focus of an exciting venture launched in September 2001 under the auspices of the Council for Economic Outreach: “Business Matters,” a weekly half-hour program at 11 a.m. Sunday following “Face the Nation” on WRGB-Channel 6. Hosted by Richard Highfield, dean of the University’s School of Business, and produced by the University at Albany, the interview-format show highlights the region’s businesses and the University as a partner to the business community.

The Council gratefully acknowledges Larry Kelley of Fleet Boston Financial for his volunteer leadership on fund-raising for “Business Matters.” The show is underwritten by New York Business Development Corporation, Troy Savings Bank, and the Center for Economic Growth.

Under the volunteer leadership of Chair Robert Schwartz, the Council has also spearheaded a number of other activities.

In partnership for the third year with the New York Capital Region Chapter of the American Marketing Association, the Council hosted its annual educational symposium on February 7th, entitled the Technology Symposium. Over 175 participants took part in the event, which drew over 25 sponsors and served as a fund-raiser for the University’s School of Business, and another way for the University to connect to the business community. On the eve of the symposium, President Hitchcock presented the University’s award for Excellence in Entrepreneurship to Carl Rosner, Chairman and CEO of CardioMag Imaging.

The Council held a Community Forum Breakfast at the Fort Orange Club on April 26th featuring Dr. Itamar Rabinovich, president of Tel Aviv University and former Israeli ambassador to the United States. The theme of the morning was “Middle East Assessment,” and the program was held in conjunction with the public inauguration of the University’s Center for Jewish Studies.

Community Council

The Community Council, chaired by James Panton, helped plan and support the Foundation’s annual Citizen Laureate Dinner held May 2 at the Hall of Springs in Saratoga Springs. Alan Goldberg, president and director of First Albany Corporation, and Mary C. Kahl, community leader and former educator, were named recipients of the 2002 University at Albany Foundation Citizen Laureate Awards. The Council also supported a University Art Museum initiative and sponsored a community presentation on UAlbany nanosciences programs.

Fiduciary Management

The assets of the Foundation grew to $36.4 million and the investment portfolio stood at $14.2 million as of June 30, 2002. Montag & Caldwell and Victory Asset Management manage the Foundation’s equity investments, 70 percent of the portfolio, while the bond investments, 30 percent of the portfolio, are managed by the Common Fund.

The Foundation’s Pooled Income Fund, valued at $487,000, is administered by Fleet National Bank, and the Charitable Gift Annuity Program, valued at $2.8 million, by Fiduciary Trust Company International.

Total Foundation revenue was $11 million while general and administrative expenses were $724,000 or 6.6 percent. Contributions, gifts and grants totaled $7.2 million while fund-raising expenses were $704,000 or 9.8 percent.

Additionally, the Foundation revised its operating fee schedule applied to cash gifts and grants effective July 1, 2002. The current fee applied to Annual Fund contributions was reduced from 29 percent to 26 percent with a further reduction to be considered as of January 1, 2003. A 15 percent fee was endorsed for other categories of individual donations based on a decreasing scale as gift values increase and with no fee applied beyond a set cap. The fee to corporate and foundation grants is 10 percent with a decreasing scale as grant values increase and a cap beyond which no fee is applied.

The University at Albany Foundation

OFFICERS

President
George R. Hearst III
Vice President & Associate Publisher
Times Union

Vice President
Morris Massry
Massry Realty Partners

Treasurer
Daniel J. Hogarty, Jr.
President and Chief
Executive Officer
The Troy Savings Bank

Secretary
John Baackes
Executive Director
GHI, Upstate

DIRECTORS

Joyce Allison
President, Senior Class
University at Albany

Wallace Altes
Executive Counsel
Sawchuk, Brown Associates

Nolan T. Altman ’77

Theodore C. Anderson III, Esq. ’82
Kilgore & Kilgore, PLLC

Bernard D. Arbit ’42
President
Arbit Trading Company

Hedy Bagatelle ’60

Salvatore Belardo, Ph.D., MBA ’71
Professor of Management Sciences & Information Systems
University at Albany

Frederick K. Brewington, Esq. ’79
Brewington Law Office

Larry Davis
President & Chief Executive Officer
CommSoft

John R. Fallon, Jr., Esq. ’77
LeBoeuf, Lamb, Greene & MacRae, LLP

Hon. Hugh T. Farley ’58
New York State Senator

Steven N. Fischer, CPA
President, Urbach, Kahn & Werlin Advisors, Inc.

Carl Florio ’71
President & Chief Executive Officer
Hudson River Bank & Trust Co.

Robert A. Fortune
Vice President
Construction Management Services
BBL Construction

Alan Goldberg
President
First Albany Corporation

Harold C. Hanson, Esq. ’63
Hinman, Straub, Pigors & Manning

Maureen Helmer ’79
Chairman
New York State Public Service Commission

Marinus N. Henny ’73
Executive Vice President & Chief Financial Officer
Universal Music Group

Harold N. Iselin
Partner
Couch White, LLP

Gary M. Jacobson ’82
LRL Capital Management

Alain Kaloyeros, Ph.D.
Founding Dean & Professor
School of NanoSciences & NanoEngineering
University at Albany

Judith Langer, Ph.D.
Chair, Educational Theory & Practice and Director, National Research Center on English Learning & Achievement
University at Albany

Victor K. Looper, Jr., Esq. ’70
Assistant District Attorney
Nassau County District Attorney’s Office

Meg Picotte MacClarence
FA Technology Ventures

Luz H. Molina Malaret ’77, ’91

Steven Mankoff ’84
Associate Partner
Accenture

Michael Marvin
Founder, Chairman Emeritus
MapInfo

Christine Miles
Director
Albany Institute of History and Art

Jeffrey A. Mishkin, Esq. ’69
Skadden, Arps, Slate, Meagher & Flom LLP

Judith A. Mysliborski, M.D. ’69
Capital District Dermatology Associates, PC

Hans J. Naumann
Chairman & Chief Executive Officer, Simmons Machine Tool Corporation

James E. Panton, DPA ’53, ’87

Carl H. Rosner
President and Chief Executive
Cardiomag Imaging, Inc.

Arthur J. Roth, CPA
Commissioner
New York State Department of Taxation & Finance

Rex S. Ruthman, Esq. ’64

Pamela Sawchuk Brown ’71
Executive Vice President
Sawchuk, Brown Associates

Robert Schwartz
Managing Director
Schwartz Heslin Group, Inc.

Thomas Selfridge
President
Albany Valve & Fitting Company

Lawrence A. Shore

Robert E. Smyth
President
KeyBank of New York

J. Spencer Standish
Chairman Emeritus
Albany International Corporation

Edward P. Swyer
President
The Swyer Companies

Vijay Vaidyanathan ’90
Chief Technical Officer
Yaga, Incorporated

Timothy R. Welles ’81
Vice President & Chief Financial Officer, First Albany Companies, Inc.

EX-OFFICIO

Robert R. Ashton
Vice President for University Advancement
University at Albany

Sorrell E. Chesin, Ph.D.
Interim Executive Director and Associate Vice President for University Advancement

Michael Corso ’83, ’84
(President, Alumni Association)
New York State Department of Public Service

Annette DeLyser ‘49
(President, Benevolent Association)

Karen R. Hitchcock, Ph.D.
President
University at Albany

George M. Philip, Esq. ’69
(Chairman, University Council)
NYS Teachers Retirement System

DIRECTORS EMERITI

Arliene Boochever ’48

Kenneth E. Buhrmaster
Chairman of the Board
First National Bank of Scotia

R. Guy Chamberlin

Athena C. Kouray, Esq.*
Kouray & Kouray

Elinore H. Posner

Anne Rosenfeld

Vivian Hillier Thorne ’48

*Died June, 2002