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Letter from the President
Dear Friends and Colleagues,
O
n November 19, we held a wonderful celebration of Chancellor Caret's inauguration. The Columbus Center played host to more than 250 individuals, ranging from USM leaders to academic delegates around the country to Maryland business and government leaders. The USM staff worked magic to make this event so successful, and it was an honor to be part of the ceremony that officially welcomed Bob back to Maryland.
Also in attendance were many USM Foundation board members, of which our ranks have recently grown. We welcomed Alan C. Cason, Salvatore Correnti, Eric S. Francis, Creig Northrop, and Clolita M. Vitale to the USM Foundation board at our meeting in October. I know they will be invaluable members of our board and I look forward to working with them in the years to come - more details below.
November tends to be the start of the giving season, and we kicked off the season with National Philanthropy Day, where we had a very special connection to one of the award winners. Earlier this year, we nominated the Philip E. and Carole R. Ratcliffe Foundation as Outstanding Foundation of the Year, thanks to their incredible support of entrepreneurial programs at several of our system institutions. Th
e Association of Fundraising Professionals (AFP) - Maryland Chapter agreed with us and selected the Ratcliffe Foundation as the winning foundation.
It was incredibly rewarding to be there to watch them accept their award alongside students whose lives have been affected by the Ratcliffe Foundation's generosity.
As we head into the holiday season, I wish you goodwill and cheer and look forward to seeing many of you in the coming days.
A
s always, please contact me at
raley@usmd.edu
or 301-445-1941 with any questions or comments.
Sincerely,
Leonard R. Raley
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September 2015 Investment Office Update
Like August, September was a turbulent month for global markets. The MSCI All Country World Index fell 3.6%, as Japanese and European stocks underperformed U.S. equities. Commodity markets continued a downward trajectory, with the prices of oil, metals and even agricultural commodities falling further. The fixed income markets also experienced sizable moves in September. Due to weak commodity prices, the prices of corporate bonds in the energy and metals and mining sectors sold off sharply, and contributed to overall weakness in corporate credit.
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Thursday, November 19 marked the official inauguration of Robert L. Caret as the fourth chancellor of the University System of Maryland. Dr. Caret is no stranger to the USM, having served at Towson University for nearly 29 years including as president from 2003 to 2011. To welcome him back and inaugurate him as chancellor,
remarks were given by United States Congressman Steny Hoyer, United States Senator Benjamin L. Cardin, Maryland's Lieutenant Governor Boyd K. Rutherford, Speaker of the Maryland House of Delegates Michael E. Busch, USM Foundation Chair Dennis R. Wraase, and council representatives throughout the system. Dr. Martha J. Kanter, former under secretary for the United States Department of Education, provided the academic address just prior to Dr. Caret being presented with the medallion of office.
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USM Foundation Welcomes Five New Board Members
Five new board members were welcomed to the USM Foundation's Board of Directors at our most recent board meeting on October 20. Our newest board directors are Alan C. Cason, Eric S. Francis, Clolita M. Vitale, Creig Northrop, and Salvatore Correnti. Their vast experience ranges from legal expertise to real estate to consulting to management, and they all have close ties to various USM institutions. Their expertise and knowledge will make them invaluable members of our outstanding board.
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Earlier this month, Chancellor Caret appointed Patrick N. Hogan as vice chancellor for government relations at the University System of Maryland. Hogan served in the Maryland House of Delegates from 2011-2015, as well as from 2003-2007, and most recently acted as deputy legislative officer for Maryland's Office of the Governor. Hogan's responsibilities will include advising Chancellor Caret and the Board of Regents on policies and strategies for both statewide and federal government, as well as chairing the USM's State Relations Council, which consists of government relations officers from the system's 12 institutions. He will join the USM on November 30, 2015.
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The Philip E. and Carole R. Ratcliffe Foundation Named Outstanding Foundation of the Year
In recognition of their generosity and partnership with system institutions, the USM Foundation nominated the Ratcliffe Foundation for AFP-Maryland's Outstanding Foundation of the Year. During the
awards luncheon, a short video played explaining what the Ratcliffe Foundation has meant to students and faculty alike at their recipient institutions. Chancellor Caret presented the award to Carole Ratcliffe and Jim Wright, Foundation co-trustee.
T
he Ratcliffe Foundation has played an in
strumental role in supporting entrepreneurial programs at Salisbury University, the University of Baltimore (UB), and the Institute of Marine and Environmental Technology (IMET). Over the past few years, they have granted more than $2.1 million in gifts in support of our students and their initiatives. To date, the entrepreneurial programs at the three recipient institutions have raised a total of $1.2 million in revenue and currently offer full-time employment to 35 individuals.
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November 2015
Vol. 9, Iss. 11
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USM News Briefs
Enrollment has grown steadily since
USMH
opened its doors 10 years ago, due to an increasing number of program offerings and more area students choosing it a
s their higher education option. Moving forward, priorities for the regional center include continuing to expand its physical facilities, as well as widening the course offerings for local students.
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Trends in Philanthropy
I
n this recent article from The Boston Globe, the writer points out that younger donors support causes rather than organizations. Engaging millennials to help them feel a deeper connection to a cause may be the key to connecting with them. The best way to do this is by communicating stories with a passion to win their attention. Engaging them in campaigns and fundraising activities will go a long way to creating lasting relationships and generating future donations.
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Board Member News
Robert Milkovich, Chief Operating Officer of First Potomac, has been appointed to the additional role of Chief Executive Officer and added to the Board of Trustees.
Congratulations, Bob!
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Staff Member News
Nathalie Cunningham will be leaving our investment office team as director of public market investments to take a position at Cornell University managing their public market investments. This move allows her to oversee a much larger program and enables her to spend more time with her immediate family in the area. We wish Nathalie the best of luck in her new endeavors!
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