Dear Friends and Colleagues,

I hope you are all staying safe and healthy. The news of 2020 continues at a dizzying pace, but I want to begin this letter by highlighting the USM's response to structural racism following the killing of George Floyd and the subsequent protests throughout the country and the world. Chancellor Perman and all of the USM presidents and regional center executive directors released a strong statement on structural racism. This marks the first time in USM history that leadership has united to create a joint message. Chancellor Perman also led a town hall on June 15 that focused on this issue, and I followed up by convening my staff in a town hall to begin a dialogue that will lead to reflection, understanding, and positive action. Our involvement in higher education means that we have a responsibility to learn and advocate for change. I hope that you will take time to read the statement and reflect on what we can do as individuals to promote social justice and put an end to inequity.  Click here to read the statement.

	The USM Foundation's first virtual Board meeting

As you know, COVID-19 is still a global health emergency. Since March, the Foundation has been conducting business remotely. Our staff has seamlessly transitioned to telework and has been hard at work providing services to our colleagues and partners. The USM Foundation Board held its first-ever virtual Board meeting on Thursday, June 11. You can read a recap of that meeting here. It was great to "see" everyone on Zoom!

Many of the USM institutions have announced their return to campus plans for the fall semester. Recently, Chancellor Perman spoke to the Baltimore Business Journal about the System's fall reopening. Dr. Perman noted that institutions will need to communicate to their students, faculty, and staff that there will not be COVID-free campuses until the disease is eradicated, but that additional safety measures must be put in place to limit infection and spread. We are thankful for Dr. Perman's leadership during this time--it certainly doesn't hurt to have a medical doctor at the helm of the System during a national pandemic!

On June 15, the Baltimore Business Journal published an article titled, "Md. universities have millions in endowment funds. But here's why they can't use them now," which addresses why local institutions such as the USM and Johns Hopkins University are not using their endowment assets to make up for losses that have resulted from COVID-19. In the article, I explain that endowments are not rainy day funds and that there are strict regulations that dictate when and how universities can use these funds. I also note that the USM institutions have done a fantastic job fundraising for student emergency funds and have raised about $2.2 million since the start of the pandemic.

On an exciting note, the Foundation launched a refresh of our website in early June. We hope that the new version of the site is easier to use and more visually dynamic than our old site, that had served us for almost seven years. You may find the following pages useful: our Board Directory, our Staff Directory, and our Insights page, where we will post our latest news and updates. 

As always, please contact me at [email protected]  with any questions or comments. 

Sincerely,

Leonard R. Raley

The Foundation held its first virtual Board meeting on Zoom on Thursday, June 11. 

Chancellor Perman began the meeting by addressing structural racism and the obligation of public colleges and universities to help promote social justice and end inequities. Dr. Perman stated that "talent is universal, but opportunity is not," and that the System must make sure that every student of color has the opportunity his or her talents deserve. Next, he gave an update on return to campus in the fall. Plans for opening campuses for the fall semester will vary and each individual institution will make decisions based on recommendations from local health department guidelines. While there will be no such thing as a "COVID-free campus," institutions will do all they can to inhibit transmission, monitor cases, and treat them.

The Foundation Board's first virtual meeting

The Board also heard from James Campbell, MD, MS, professor of pediatrics and a pediatric infectious disease specialist at the University of Maryland School of Medicine. Dr. Campbell presented an overview of the COVID-19 pandemic and how the UMMS is involved in testing drugs and vaccines to treat the disease. He also discussed the alarming decrease in childhood vaccinations in Maryland and nationwide-a trend that may complicate COVID-19 treatment and have long-term negative health consequences for our children.

Chair of the Investment Committee, Larry Boggs, gave a positive investment report despite the uncertainty of the current economy due to the pandemic. The Foundation's investment strategy has done a good job of withstanding market volatility - Sam, his team, and the Investment Committee deserve kudos for this achievement.

Chair of the Governance Committee, Harry Johnson, introduced a streamlined conflict of interest policy and introduced new Board member, David Young (read more about Judge Young below). Harry Johnson also introduced a bylaw change (approved) making the June Board meeting our annual meeting, rather than the November meeting.

Chair of the Budget and Finance Committee, Don Scheeler, reported that the Foundation is in a positive place in terms of budget for FY20. He also informed the board that FY21's budget was presented and approved.

Finally, President Leonard Raley gave an update on the Foundation's transition to working from home amidst the pandemic and commended the Foundation staff for their seamless transition to a new work environment. Leonard noted that despite the uncertain times, institutions across the System had success in raising more than $2.2 million in student emergency funds. 

The Found ation welcomed a new member, The Honorable David W. Young, to the Foundation Board at its June meeting. 

The Honorable David W. Young (Ret.) is a native of Hagerstown, Maryland. He received his Associate of Arts Degree from Hagerstown Junior College in 1971 and was awarded his Bachelor of Arts Degrees in Sociology and Psychology from the University of Maryland, Baltimore County in 1974. Judge Young obtained his Juris Doctorate from the University of Maryland School of Law in 1977. 

In December 1995, Judge Young was appointed to the Circuit Court for Baltimore by Governor Parris N. Glendening and elected to a 15-year term in 1996. He was reelected to another 15-year term in November 2011. He retired in November 2013 but continues to serve on a recalled basis.

In 2006, Judge Young received The American Bar Associations Scripps Howard Foundation Distinguished Service to Literacy Award, and in 2009 he received the Leadership in Law Award from the Maryland Daily Record. In 2013 he was the first recipient of the FCCIP Robert M. Bell Award for outstanding service to children and families. Judge Young was also awarded a Master of Divinity Degree by Virginia Union University in May 2003.

Click here to read Judge Young's full biography.

USM News Briefs

The USM's Maryland Momentum Fund, which invests in USM-affiliated companies, recently invested in pathOtrak and KaloCyte. The Momentum Fund invested $150,000 in  pathOtrak, led by a former UMCP professor who served on faculty in the Fischell Department of Bioengineering. The company offers a sample-prep kit called Next Generation Enrichment, which speeds up the process of detection of salmonella and E. coli in food. KaloCyte received $300,000 from the Maryland Momentum Fund. The company is a UMB BioPark affiliate company and was founded by researchers with strong ties to UMB and UMBC. KaloCyte is developing an artificial red blood cell substitute that can potentially provide therapeutic oxygenation when whole blood or red blood cells are not available. 

In April, UMES received accreditation confirmation for its physician assistant program. In the coming academic year, the institution will offer graduate-level courses leading to a physician assistant degree. Students will complete rotations in family medicine, general surgery, and mental health training. 

Towson University was named Best College in a Reader's Choice poll published by the Baltimore Sun. The poll results reflect readers of the  Sun's favorite art galleries, museums, and more. 

Salisbury University announced its 2020 Ratcliffe Shore Hatchery Winners. The Philip E. and Carole R. Ratcliffe Foundation Shore Hatchery entrepreneurship competition has awarded more than $1 million to startups. This was the first time the entrepreneurship competition was held virtually. The f irst place prize of $30,000 was awarded to Chi Yan, owner of Walt's Waffles, a DC-based pancake and waffle company. Other winners included Darrin Lipscomb, founder of Ferretly, which uses  artificial intelligence to analyze social media posts to protect brands, employees and profits; Mitch Fletcher and Chris McCabe, founders of K9 Precision, LLC, which creates innovative dog training products; and Susan Clayton of RunMitts, LLC, which manufactures convertible thumbless sports mittens.

UMGC Receives Record Gift, Doubles Endowment 

The University of Maryland Global Campus received the largest single contribution to its endowment in its history in April. The $16 million gift from UMUC Ventures doubled the university's endowment. UMUC Ventures, a nonprofit that  develops services and products for higher education, was established in 2016 by UMGC. The gift comes at a critical time, when the need for student emergency fund support is extremely high due to the COVID-19 pandemic. UMGC put the gift to immediate use to support their emergency relief fund that benefits students who are going through financial difficulties as a result of the pandemic. In early April, UMGC created a system that allowed students to request emergency funds as long as they were enrolled in courses and taking at least six credits. After the first day of its launch, more than $100,000 was allocated to students in need. The financial assistance can be used to help pay for tuition, books, housing, childcare and more.

Sam Gallo named to Maryland 529 Boar d, Receives Award

USM Foundation Chief Investment Officer, Sam Gallo, was appointed by Governor Larry Hogan to the MD 529 Board of Directors in March. Maryland 529 provides affordable and flexible 529 plans to help families save for future education plans that help reduce dependence on student loans. The college saving plans that Maryland 529 offers are administered by the board, on which Chancellor Jay Perman also sits.

Additionally, Sam Gallo was also named a Top 30 Endowment Chief Investment Officer by TrustedInsight. The recognition was given to chief investment officers and deputy chief investment officers that oversee endowments with sizable pools of long-term capital. Congratulations to Sam!

UMES President Heidi Anderson, USMF Board Member Alan Cason, and Chancellor Jay Perman named Influential Marylanders

In February, The Daily Record announced their list of Influential Marylanders for 2020. The award recognizes those who leave their mark on their communities throughout Maryland. According to Suzanne Fischer-Huettner, publisher of The Daily Record, the honorees are successful and engaged leaders who work to improve lives in their communities and throughout the state.  In the education sector,  President Heidi Anderson and Chancellor Jay Perman were recognized for their leadership at the helm of UMES and the USM, respectively. USM Foundation Board member, Alan Cason , Partner at McGuireWoods was also recognized under the law sector for his for his leadership and work on development deals that have changed the landscape of Baltimore. Congratulations to all!

Heidi Anderson, Alan Cason, and Jay Perman

Coppin State University Welcomes President Anthony Jenkins

On May 26, Coppin State University welcomed Dr. Anthony Jenkins, the university's eighth president. Jenkins comes to the Coppin from West Virginia State University, where he served as president since 2016. At CSU, Jenkins plans to diversify enrollment growth, create an environment of holistic student success with high retention and graduation rates, provide experiential learning opportunities that will prepare students to graduate and make positive change to their communities, increase research at the university, and increase teaching innovation. Jenkins is a first-generation college graduate as well as a United States Army veteran. He has served in various administrative positions in higher education at UNC-Wilmington, UMES, and the University of Central Florida, in addition to West Virginia State University.

BSU President Aminta Breaux Named to Top 100 Women List

The Daily Record named Bowie State University President Aminta Breaux to its 2020 list of Maryland's Top 100 Women in recognition of outstanding professional achievements, community leadership and mentoring. Dr. Breaux is the first woman president of BSU and has served as president since 2017. She was selected as an awardee by a panel that reviewed the winner's career accomplishments, community involvement, board memberships, mentoring experience, and letters of recommendation. Under her leadership, BSU has focused on entrepreneurship through bringing the Saxbys Experiential Learning Program to campus, as well as the Entrepreneurship Living-Learning Community, which is scheduled to open this fall. Congratulations to President Breaux!

UMBC President Fre eman Hrabowski Named to Business and Civic Hall of Fame

UMBC President Freeman Hrabowski was inducted into the Baltimore Sun's 2020 Business and Civic Hall of Fame. The honor recognizes those who have helped make Maryland a better place through their careers and who have spent their lives bettering the community. Winners serve as an inspiration to those who wish to advance the common good. The  Baltimore Sun notes that Dr. Hrabowski is a leader in education, an advisor to President Barack Obama, and an innovator in education. Congratulations to President Hrabowski!