LeaderNotes Spring 2024

Dear Friends and Colleagues,

Happy Spring!

In late February, thanks to the great work of Chair of the Advocacy Committee Anirban Basu, members of the Foundation's Advocacy Committee, Foundation staff, and I traveled to Annapolis to meet with legislators to advocate for the University System of Maryland. While in Annapolis, we had meetings with Maryland Senator Guy Guzzone and Speaker of the Maryland House of Delegates Adrienne Jones, along with other Maryland lawmakers at a legislative reception at the Maryland Inn. We were especially thrilled to be treated to a special tour of the Maryland State House Chambers led by Adrienne Jones, who was kind enough to take time out of her busy schedule to show us incredible spaces in the historic building, such as where George Washington resigned as commander in chief of the Continental Army. It was very rewarding to speak on behalf of the USM and to champion the good work of our institutions. I would like to extend a special thank you to Susan Lawrence, USM vice chancellor for government relations, as well as Anirban Basu for helping to facilitate this visit.

(L-R) Leonard Raley, Tom Gilbert, Marianne Horrigan, Carrie Browne, Adrienne Jones, Anirban Basu, Owen Johnson, Mitch Neitzey, Greg Abel

Our colleague Ralph Partlow will retire at the end of June after serving for five years as general counsel of the USM Foundation. Ralph has played an important role in working to enhance the Foundation's legal, compliance, and risk management functions and has helped to guide senior leadership and the Board through some challenging situations. I anticipate that Ralph will continue to support his successor's transition on a part-time basis after June 30, and am grateful for his willingness to do so.

In late January, members of the Foundation staff and Foundation Board Chair Don Scheeler attended the 2024 Association of Governing Board’s Foundation Leadership Forum in Downton Los Angeles. It was a wonderful opportunity to learn from our colleagues from institutions across the United States. The Foundation's CIO Sharcus Steen moderated a discussion, “The Global Economic Outlook: Insights and Implications for Endowment Management" with panelists from Nuveen, the Strategic Investment Group, and Northern Trust Wealth Management. The group shared their perspectives on the global economy and changes in admissions practices and constrained budgets at universities. I also facilitated a discussion at the Forum on “Foundation Strategy and Planning" and was joined by colleagues from West Virginia University Foundation and the Association of Governing Boards. We presented a workshop on a streamlined approach to: developing foundation strategy; executing plans to enhance board governance; strengthening the performance of key foundation functions; and elevating a foundation’s ability to serve as a strategic mission partner to the institution.

There is a lot more news from the Foundation and the System - continue reading this edition of LeaderNotes to learn about the great advancement and work our staff, leadership, and institutions are doing!

As always, please reach out to me with any questions you may have.

Sincerely,

USM Foundation Board Meeting Recap

The Foundation's Board of Directors met on February 22 on Zoom.

Chancellor Jay Perman addressed the Board and shared updates on the legislative session, including a number of bills that could alter how the USM operates. Chancellor Perman attended USM Advocacy Day in Annapolis with the USM's shared governance councils to give voice and power to the System's collective priorities. The Chancellor addressed the proposed budget for the System for the upcoming fiscal year and said that despite potential challenges, the USM aims to keep momentum going and to continue to support its students. The Chancellor finished his remarks by introducing UMCES's new president, Fernando Miralles-Wilhelm, who you can read more about later in this newsletter.

Thomas Hyatt, general counsel and specialist and senior fellow for the Association of Governing Boards, presented, "Ethical and Practical Considerations in Managing Conflicts of Interest for Board Members." The discussion centered on good governance practices for board members.

Next, Chair of the Advocacy Committee Anirban Basu discussed the committee's visit to Annapolis in late February.

Governance Committee Chair Alan Cason presented the Governance Committee report. Mark Levine and Steven Sibel were elected as Directors and you can read more about them below. Additionally, the Foundation also approved their updated whistleblower policy.

Chair of the Investment Committee Mitch Neitzey delivered a positive investment report and noted that the committee is looking forward to their next meeting.

Audit Committee Chair Linda Ellen Jones noted that the committee is adding an extra meeting in order to review enterprise risks. The committee is focused on mitigating as much risk as possible.

Leonard Raley ended the meeting with his report and thanked the Directors for their great work.

Mark Levine

Mark Levine is managing director of Core Capital Partners, a venture capital investment fund with more than $750 million under management. Core Capital's portfolio companies concentrate on enterprise software. Prior to holding this position, Mark founded GCI Venture Partners, an early stage technology venture capital fund that was an early investor in webMethods, one of the most successful software IPOs in NASDAQ history. Mark serves on the Board of Trustees (Chair) of the Mid-Atlantic Venture Association (MAVA), the Arena Stage Theatre, the Board of Advisors of The George Washington University Business School, the Dingman Entrepreneur Center (University of Maryland), and the University of Maryland Center for Environmental Sciences (UMCES).

Steven Sibel

Steven Sibel is partner with Caves Valley Partners, one of the most active real estate developers in the Baltimore Metropolitan market. Steve has extensive experience within the Maryland real estate industry and started his career in 1985. He is a member of the Maryland State Bar Association and a graduate of the Freeman School of Business at Tulane University and the University of Maryland School of Law. In addition to the USM Foundation Board, he serves on the American Israel Public Affairs Committee Maryland Chapter, the Board of Trustees of the Associated Community Federation of Baltimore, as treasurer of MACCPAC (Maryland Association of Concerned Citizens Political Action Committee), and as vice-president and chairman of the development committee of the Signal 13 Foundation.

Board Member News

Board Director Tony Tijerino took part in a Telemundo program called “Your Secret Strength, With Love, Your Mind,” which was a discussion on Latino men and mental health. Tony was joined by renowned actor Danny Trejo, Telemundo news anchor Martin Berlanga, and mental health counselor Alfredo Hernandez.

Board Director Ali von Paris and her company, Route One Apparel, have partnered with the Washington Capitals to design a new line of merchandise. The merchandise line includes tee shirts, sweatshirts, and hats and they are available to purchase exclusively at the Washington Capital’s official team stores. 

Directors Anirban Basu, Brian J. Gibbons, and Creig Northrop were named to the Maryland Daily Record's Power 100 list for 2023-2024. The recognition was bestowed on those who are shaping Maryland's businesses, governments, nonprofits, law firms and other key institutions. They are joined by Chancellor Perman and a number of USM presidents, which you can read more about at the end of this newsletter.

Spotlight on Staff: Kelly Emson

Kelly Emson serves as an Investment Analyst within the Investment Office of the USM Foundation.

Please describe your role. Overall, what are your responsibilities? What is a typical day like for you at work? 

My role is to support Sharcus Steen (Chief Investment Officer) and the senior investment team in managing the endowment. My responsibilities can take a wide range, so every day is different. My day can often include meeting with potential and existing investment managers to source new investments, deeply researching and analyzing potential investments to recommend, and monitoring existing investments. Each week can also include running data analytics and modeling, rebalancing the portfolio, managing cash flows with the help of the Business Office, and working to provide data and answers to any requests or questions that arise. Every quarter we also put together in-depth materials for the Investment Committee and each of the System schools. As a team, we create market commentary, performance summaries, and special topic analysis to present a status update on the portfolio and talk about things we have been working on, thinking about, and observing.

What have you enjoyed most about working within the Foundation and USM so far?

I joined the Foundation this past July and I have most enjoyed working with the Investment Office team. I am extremely grateful to be a part of a team that is invested in my professional development and cares about my interests, goals, and personal wellbeing. One of my favorite parts of the job is getting to meet with various investment managers to learn what they do, why they do it, and how they are thinking about it in the context of the broader macro environment. I think it is a very cool way to learn about the world and I love that everything we do works towards the ultimate end goal of helping students.

Tell me something interesting about yourself! What do you enjoy doing outside of work?

I grew up outside of DC in Arlington, Virginia with my two brothers. I am a dual citizen of the US and the UK, where my Dad's whole side of the family still lives a few hours outside of London. I am obsessed with my family dog who is an 11-year-old black lab and golden retriever mix named Fletcher who failed guide dog school and I hope to adopt my own someday. Outside of work, I love to be active, read, travel, and spend time with my family and friends. I love to play intramural sports, like soccer and volleyball. In the summer, I especially enjoy surfing at the Jersey Shore, where my Mom's side of the family gathers. I love trying new restaurants and walking all around DC. I am currently trying to learn how to keep plants alive and how to play mahjong to compete with my grandmother - any and all tips are welcome for both!

USM Foundation Staff Promotions

Top Row (L-R): Tom Gilbert, Nebiyu Teshome

Bottom Row (L-R): Chris Ingram, Charlie Sexton

Tom Gilbert, Chief Operating Officer/Chief Financial Officer

Tom Gilbert has served as our Chief Financial Officer for the last five years, joining us from an 11-year career with PwC in both their Baltimore and Philadelphia area practices. Tom will add Chief Operating Officer to his title to more closely align with his ongoing job responsibilities. In Tom’s new role, he will put an increased emphasis on the education of campus partners and boards, assume responsibility for the day-to-day operations of the Foundation, play a key role in strategic projects, and assist me with executing the overall vision of the Foundation.  

Nebiyu Teshome, Director of Accounting

Since joining the Foundation in September 2020 as an Accounting Manager, Nebiyu has brought an elevated level of client service and expertise that has significantly improved our accounting operations. Nebiyu’s attention to detail and overall positivity makes him a pleasure to work with internally and with our campus partners. Nebiyu has been promoted to Director of Accounting and will assume responsibility for the oversight of certain day-to-day accounting operations, specifically over our back-office investment operations.  

Chris Ingram, Director of Public Markets

In the Investment Office, Chris Ingram has been promoted from Senior Sustainability and Investment Analyst to Director of Public Markets. Chris joined the Foundation as an MBA intern more than a decade ago, overseeing the Endowment’s public markets portfolio for much of his tenure and affording the team with deep institutional knowledge. Chris’s collegial approach, leadership skills, and familiarity of our investment goals strengthen our investment team immeasurably.

Charlie Sexton, Director of Investment Strategy

Charlie joined the Foundation five years ago from Cambridge Associates and has contributed significantly across all asset classes, with a strong focus on asset allocation and portfolio construction. He has moved into the position of Director of Investment Strategy, from Senior Investment Analyst. The new title is an apt one, reflecting Charlie’s incredible strategic mindset. Like Chris, his leadership skills contribute significantly to the team’s success.

Bowie State University will offer a new Ph.D. degree in counselor education and supervision. The university is the first within the USM and the third HBCU in the country to offer this degree. The program arises out of the growing demand for mental health services nationwide. Graduates of the program will be equipped to take on roles such as mental health supervisors, researchers, school counselor directors, department administrators, and more.

The University of Maryland Eastern Shore announced a new School of Veterinary Medicine, which will welcome its first cohort in 2026. This school is the first of its kind in Maryland and the first among HBCUs in the country. Unlike traditional four-year veterinary schools, UMES proposes a three-year program instead, which will expedite student's graduation and readiness to join the field.

The USM was named to a list of the top 100 patent granting universities in the world by the National Academy of Inventors. On this list, the USM sits at number 21, with 108 patents granted in 2023.

The University of Maryland, College Park received a $27.2 million gift to the Department of Mathematics from Professor Emeritus Michael Brin and his wife Eugenia. The gift will endow the Brin Mathematics Research Center, establish a new Brin Endowed Chair in Mathematics, and establish the Brin Maryland Mathematics Camp for Maryland high schoolers. The Brins are generous supporters of the university and in 2021, they helped establish the Brin Mathematics Research Center with a $4.75 million gift.

Fernando Miralles-Wilhelm Named UMCES President

In late February, the Board of Regents appointed Fernando Miralles-Wilhelm as UMCES's seventh president. He will begin his tenure on July 1 and will also serve as the USM's vice chancellor for sustainability. Miralles-Wilhelm currently serves as professor and dean of the College of Science at George Mason University. Prior to his career at George Mason, Miralles-Wilhelm was on the faculty at Northeastern University, the University of Miami, Florida International University, and the University of Maryland, College Park, where he served as professor and chair of the Department of Atmospheric and Oceanic Science, and director of the Cooperative Institute for Climate and Satellites (CICS). Miralles-Wilhelm succeeds Peter Goodwin who announced his plan to retire as president in January 2023. Miralles-Wilhelm holds a PhD in civil and environmental engineering from MIT, an MS in engineering from the University of California, Irvine, and a BS in mechanical engineering from the Universidad Simón Bolívar in Venezuela.

Coppin State University Announces $25 million "BE MORE" Capital Campaign

Coppin State University announced the launch of the largest campaign in the university's history in early January. The campaign's goal is to build on the existing capacity and infrastructure of CSU and will focus on five strategic priorities: student achievement and retention, academic excellence, top-tier research, elevating athletics, and growing Coppin's endowment. To date, CSU has raised $12.5 million toward its $25 million goal. The campaign will conclude in 2025.

USM Institutions Recognized as Fulbright Producers, Top Graduate Programs in Country

USM institutions were recognized as U.S. Fulbright Student and Scholar producers. The University of Maryland, College Park has 13 recent graduates, graduate students, and alums and seven faculty members participating in the program in 2023-2024. UMBC produced ten Fulbright student recipients. This marks the third time that UMBC has been recognized for producing a high number of Fulbrights. The University of Maryland, Baltimore was recognized by the U.S. Department of State’s Bureau of Educational and Cultural Affairs in the Special Four-Year Institution category. At UMB, two scholars were selected for Fulbright awards for academic year 2023-24. Additionally, Towson University was recognized for the second time by the U.S. Department of State’s Bureau of Educational and Cultural Affairs for being a top producer of Fulbrights. In 2023-2024, TU had three students selected.

A number of USM institutions have been recognized for their graduate programs. Frostburg State University was ranked among the Best Online Master’s Programs in Maryland by Online Masters Colleges. U.S. News & World Report named Salisbury University's online MBA Program one of the top in the U.S. and the university's online MS in Nursing Program one of the top in the country. The U.S. News & World Report also named Towson University's online graduate education program as the best in the state of Maryland and one of the best in the country and the online graduate computer information technology program one of the top in the country. UMBC was also recognized by U.S. News & World Report for their online master’s degree in information systems, which was ranked 34 in the country. Finally, the University of Maryland, College Park was also recognized in these rankings. The online Master's of Engineering program received a top ten designation in the country as well as ranking eleventh in best online MBA programs.

USM and USMF Leadership Named to Power 100 List, Two USM Presidents named to 2024 Top 100 Women Honorees

Several USM Foundation Board Directors and leadership from the USM were named to the Maryland Daily Record's Power 100 list for 2023-2024. The list is comprised of 100 people that are shaping Maryland's businesses, governments, nonprofits, law firms, and other key institutions. From the Foundation's Board of Directors, Anirban Basu, Brian J. Gibbons, and Creig Northrop were recognized. From USM leadership, Chancellor Jay Perman, UMBC President Valerie Sheares Ashby, Towson University President Mark Ginsberg, UMB President Bruce Jarrell, and University of Maryland, College Park President Darryll Pines were recognized.

Additionally, two USM presidents were named to the Maryland Daily Record's 2024 Top Women Honorees. BSU President, Aminta Breaux and UMES President Heidi Anderson were recognized for being high-achieving Maryland women who are making an impact through leadership, community service, and mentoring. This is Heidi Anderson's third time being named to the list.