Letter from the President
Dear Friends and Colleagues,

It's hard to believe that it's been over a year since I have interacted with you in person. Recently, Governor Larry Hogan announced two major milestones in the fight against COVID-19. Two-thirds of Maryland adults have received at least one dose of a COVID vaccine and the state's seven-day positivity rate has dropped to 2.23 percent, the lowest level on record. While the pandemic is not over, this news is heartening and I am hopeful that vaccination rates will increase, positivity rates will continue to drop, and that we will be able to meet face-to-face once more very soon.

The University System of Maryland has a lot to celebrate. As you’ll read in more detail in this newsletter, the System's twelve institutions awarded more than 40,000 undergraduate and graduate degrees this spring at virtual and in-person ceremonies. This marks the fifth year in a row that System institutions have awarded more than 40,000 degrees. Our leaders and directors have been recognized with several prestigious honors. Our very own Director of Investments, Sharcus Steen was named by Chief Investment Officer Magazine into its Class of 2021 NextGens. Each year for the past decade, CIO has highlighted 25 rising stars in the institutional investing world. While it is unsurprising to me that Sharcus is among this very elite group, it is nevertheless a great honor and a well-earned reflection of Sharcus’s hard work, leadership, and integrity. Please join me in congratulating Sharcus on this global distinction. I am so proud of Sharcus and thank him for his excellent leadership and service to our investment program and team. Click here to read Sharcus's interview with CIO.

The Foundation has been hard at work supporting the USM. In this newsletter, you will find a recap of our June Foundation Board meeting, as well as profiles on our six new directors. We also say goodbye to eight retiring Board members, whose contributions and dedication to the Foundation and the USM are unmatched.

I hope you are continuing to stay safe and healthy and that you have a restful summer. Please contact me at raley@usmd.edu with any questions or comments.

Sincerely,
Leonard R. Raley
Foundation Board Meeting Recap
On June 9, around 90 participants, including directors, USM leaders, and staff, met on Zoom for the Foundation Board meeting. 

The meeting kicked off with a presentation by Henry Stoever, President & CEO at the Association of Governing Boards of Universities and Colleges (AGB), George P. Watt Jr., Senior Consultant and Senior Fellow, AGB Consulting, and Tiffany Dean, Senior Director, Institutionally Related Foundations at AGB. Stoever commended the Foundation and the Board on building a diverse leadership board, supporting the USM, and sustaining a unique and aspirational Foundation. The interactive session addressed strategic board leadership; Stoever also introduced AGB’s Principles of Trusteeship: lead by example, understand governance, and think strategically. Stoever also spoke about the AGB Board of Directors’ Statement on Justice, Equity, and Inclusion and their guidance for implementation. Chair Bonnie Stein announced that the USM Foundation will establish a working group this fall to discuss justice, diversity, equity, and inclusion. The working group will include board directors as well as USMF staff.

Chancellor Jay Perman's report celebrated a recent Maryland milestone - 70 percent of adults in the state are partially vaccinated and 50 percent are fully vaccinated. Chancellor Perman also celebrated the end of an academic year and the newly graduated class of 2021 that was deeply affected by the pandemic. Despite the hardship, this spring, the System graduated more than 40,000 students which marks the fifth year in a row that the USM has surpassed 40,000 degrees awarded. Of the 40,000 degrees, 11,000 were STEM degrees and half of these degrees went to minority students. Chancellor Perman thanked the USM institutions for the work they have done towards trying to end the pandemic.

Chair Bonnie Stein presented the governance report on behalf of Governance Chair Harry Johnson. She introduced bylaws changes that were the result of a working group that examined the role of Honorary Directors on the Board. Honorary Board members will now be referred to as Emeritus Board members. Emeritus members will not participate in committees and will be invited to one Board meeting a year, along with a variety of social functions. Additionally, the Foundation Board elected six new directors: Greg Abel, Hope Brown, Mary E. Clapsaddle, Christopher Evans, Robert Owen Johnson, Jr., and Ali Von Paris. You can read more about our six new directors later in this newsletter. 

The meeting ended with a positive investment report from Investment Chair Larry Boggs and a report from Foundation President Leonard Raley. Leonard noted that, as of June 3, the USM's federated fundraising goal of $315 million was already far surpassed, with $359 million raised by all of the institutions and regional higher education centers. Leonard also praised the Foundation's business office for launching an on-demand dashboard that gives real time data on spending and for their transition to wire transfers when printed checks and mail delivery were unreliable during the pandemic. The Foundation also put $1.5 million into a quasi-endowment whose annual spending income will be provided to campuses to support student needs. The Foundation will transfer $10,000 to each campus and regional center this year. Leonard also announced that former Board Chair Walter Fatzinger's scholars account — Walter passed in 2018 — helped more than 20 students with acute financial needs, enabling them to complete their studies at the University of Baltimore this year.
Board Member News
Top Row (L-R): Jay Perman, Freeman Hrabowski, Bruce Jarrell, Darryll Pines
Bottom Row (L-R): Kim Schatzel, Anirban Basu, Creig Northrop
Foundation Board members Anirban Basu, Sage Policy Group CEO and Creig Northrop, Northrop Realty CEO, along with USM Chancellor Jay Perman, UMBC President Freeman Hrabowski, UMB President Bruce Jarrell, UMCP President Darryll J. Pines, and Towson University President Kim Schatzel, have been named to the Daily Record’s Power 100 list. The honorees were chosen for their impact in shaping businesses, governments, nonprofits, law firms, and other critical institutions across Maryland. Congratulations to all! Click here to see the full list of honorees.
Foundation Board Member and President & CEO of the Hispanic Heritage Foundation, Antonio Tijerino, recently interviewed the Washington Football Team's Head Coach, Ron Rivera. Coach Rivera spoke to Antonio about beating cancer, his leadership style, and his belief that "you can't have diversity without action." Coach Rivera also spoke about importance of hiring a diverse workforce and the positive familial influences he has had in his life. Click here to watch the full interview.
Welcoming our New Foundation Board Members
Top Row (L-R): Greg Abel, Hope Brown, Mary Clapsaddle
Bottom Row (L-R): Christopher Evans, Owen Johnson, Jr., Ali von Paris
The USM Foundation is proud to announce the appointment of six new members to its Board of Directors.

Gregory S. Abel
Gregory Abel is the Founder and CEO of Abel Communications and has worked in journalism, sports marketing, corporate communications, and agency public relations. Gregory was named "Most Admired CEO" by The Daily Record in 2017 and 2019 and Abel Communications has twice been named a finalist for the Baltimore Business Journal’s Best Places to Work. Read more.

Hope Brown
Vice President and Chief Compliance Officer at Calvert Research and Management, Hope Brown is an alumnus of the University of Maryland, College Park and has had a career in the financial industry since 1995. Hope has experience in mutual fund, investment adviser and broker-dealer compliance, risk management and vendor management and oversight. Read more.
 
Mary E. Clapsaddle
Director of Government Relations at Frostburg State University, Mary Clapsaddle is an FSU alumnus. She has years of experience working in the Annapolis and Maryland State Government with a special focus on economic and community development; k-12 and higher education; and health and human services. Read more.

Christopher Evans
Christopher Evans is Senior Vice President of Commercial Banking Relationship Manager at Wells Fargo Bank and his career in banking, management, and finance spans over 26 years. Chris is an alumnus of Towson University where he serves as a board member for the TU Foundation. Read more.

Robert Owen Johnson, Jr. (Owen)
Retired Board Chair for the Prince George’s County Board of Education, Robert Owen Johnson, Jr. served in many positions in the school system throughout his career. Owen served in the National Guard for nearly 25 years and is a UMES alumnus who served on the Board of Visitors and the Alumni Association. Read more.

Ali von Paris
Ali von Paris is the CEO and Founder of Route One Apparel, which offers over 3,000 items sold online and in retailers throughout the area. Ali is a University of Maryland, College Park alumnus and has been recognized and honored by The Daily Record, the Baltimore Sun, and the Baltimore Business Journal for her entrepreneurship. Read more.
Thank You to Our Retiring Board Members
Top Row (L-R): Francis A. Contino, Albert E. Girod, Cary Hatch, Eric E. McLauchlin
Bottom Row (L-R): Natalie B. Sherman, Molly Shock, Francis S. Soistman, Thomas L. Wilson
At the June Foundation Board meeting, the University System of Maryland Foundation honored eight retiring members who are transitioning from Directors to Emeritus board members. The USM Foundation is thankful for their support and dedication throughout the years. Their tireless work has helped the Foundation promote a culture of philanthropy and support higher education within the University System of Maryland.

Francis A. Contino
An alumnus of the University of Maryland, College Park, Francis Contino is a committed advocate for students and a lifelong Terp. In 1999, Contino was honored by the Robert H. Smith School of Business as a distinguished alumnus. Contino and his wife established The Betty and Francis ’68 Contino Undergraduate Endowed Scholarship at UMCP in 2007, which provides annual support to undergraduates at The Smith School who demonstrate financial need.

Albert E. Girod
Albert Girod has been an influential member of the Foundation Board and a strong supporter of the USM, especially the University of Maryland, College Park. In addition to being a staunch advocate for students, Girod has had an accomplished career in the financial sector and has been recognized by his alma mater, Devon Preparatory School, with an Alumni Achievement Award.

Cary Hatch
Cary Hatch was instrumental in helping the Foundation develop its five-year strategic plan, Pioneers and Optimists. Hatch’s advertising and marketing expertise helped shape the strategic plan’s major messaging and direction. Additionally, she has been honored for many years on the POWER 100 list by the Washington Business Journal, which recognizes the most influential business leaders in the Washington area.

Eric E. McLauchlin
Eric McLauchlin served as Advocacy Committee Chair for six years, leading the Foundation’s efforts to support the USM in Annapolis, as well as serving on the Foundation’s most recent Strategic Planning Committee. McLauchlin is a Salisbury University alumnus and a University of Baltimore Carey School of Law alumnus. McLauchlin served as president of the Salisbury University Alumni Association and as Chairman of the Harford Community College Foundation Board.

Natalie B. Sherman
As an active member of the Governance Committee, Natalie Sherman helped ensure compliance with the Foundation’s mission and good governance practices. Sherman serves on the boards of the Baltimore School for the Arts, Baltimore Design School, New Leaders for New Schools, Samuel Ready Scholarships and on the Planned Giving Advisory Committees for Associated Catholic Charities-Maryland and Maryland Institute College of Art.

Molly Shock
An alumnus of Towson University, Molly Shock is a dedicated advocate for students. At TU, she has helped establish the Stephen K. Shock Memorial Scholarship, the Catherine O’Malley Endowed Scholarship, and the W.J.R. Shock Endowed Scholarship. Shock is involved with a number of committees and boards at the university and has been named one of the Daily Record’s Maryland’s Top 100 Women.

Francis S. Soistman
A passionate champion for students, Fran Soistman donated $5.4 million, the largest gift from a Towson University alumnus in the university’s history, in November 2020. In addition to his philanthropy, Soistman has served on the USM’s Chancellor’s Advisory Council, as well as on the TU Board of Visitors and as a director on the TU Foundation. As a member of the USM Foundation Board, he helped develop Sustaining a Great Foundation, part of the five-year strategic plan.

Thomas L. Wilson
Hailing from a family of Terps, Thomas Wilson is a generous supporter of the University System of Maryland and the University of Maryland, College Park. Wilson is an alumnus of the Aerospace Engineering program at UMCP and has served on the Engineering Board of Visitors at the university. He currently serves as Sector Vice President, Business Development of Northrop Grumman’s Innovation Systems sector and President of Space Logistics LLC.
Spotlight on Staff - Nebiyu Teshome

Nebiyu Teshome serves as an Accounting Manager – Risk Management for the University System of Maryland Foundation and has been with the Foundation for just over nine months. He holds undergraduate and MBA degrees from University of Gloucestershire, UK.
 
Q: Please describe your role. Overall, what are your responsibilities? What is a typical day like for you at work?  
My role at USMF is to evaluate and help mitigate risks associated with the endowment and operating portfolios. Currently, I am collaborating with Johnson Lambert (internal auditors), and various internal focus groups to develop an Enterprise Risk Management (ERM) model. As part of risk management assessment, I work together with USMF’s strategic partners, individual managers, and our bank custodian to review and analyze key metrics on performance reports, to perform internal controls and assist with year-end audits. Typically, my day starts with compiling a daily task list and striving to complete it by the end of the day, as well as supporting our business office team.
 
Q: What have you enjoyed most about working within the Foundation and USM so far?
Regrettably due to the pandemic, I have not managed to meet my colleagues in person. Yet, having said that, everyone has been welcoming, respectful and collaborative. I enjoy the culture of collegiality - USMF’s leadership team has created a very open, diverse, and intellectual workforce.
 
Q: Tell me something interesting about yourself! What do you enjoy doing outside of work?
I enjoy spending my time with my wife and daughter, exploring new places, and now that the weather has warmed up, cycling. In my spare time I enjoy gardening, supporting Manchester United and staying current with technology and world news.
Gifts Across the System
$500,000 in matching funds from the Maryland Department of Commerce through the Maryland E-Nnovation Initiative Fund will help establish a new endowed cybersecurity chair at Bowie State University. The chair will serve as the director of the Center for Cybersecurity and Emerging Technologies in the Department of Computer Science.

Frostburg State University alumnus Kathy Nicholas Boykins '80 established the Kathy A. and Earl S. Boykins, Sr., Scholarship, named for her and her husband, for graduates of Baltimore City Public Schools. A graduate of Baltimore City Public Schools herself, Boykins wanted to create a scholarship to relieve the burden of debt for students. Boykins is a member of the FSU Alumni Association Board of Directors and encourages alumni to consider funding their own scholarships.

Samuel G. Rose, an alumnus of the University of Baltimore School of Law has established a $5 million fund dedicated to undergraduate students at UB, setting a single-donor record for cash contributions to UB's endowment. The Samuel G. Rose Undergraduate Scholarship Fund will provide endowed support for undergraduate students who need financial assistance to complete their education. Rose serves as a member of the UB President's Council.

Towson University's College of Health Professions received the single largest gift in its history. A $1.32 million gift from Alena and David M. Schwaber will create scholarships for ten nursing students each year. While the couple does not have a prior relationship with TU, they have previously supported nursing students at Harford Community College and Johns Hopkins. A large reason for their gift is due to the fact that students at Harford often finish their degrees at Towson University.
Alena and David M. Schwaber
Biotech entrepreneurs, Marco and Debbie Chacón, have established the Chacón Center for Immigrant Justice at the University of Maryland Francis King Carey School of Law with a $5 million gift. The Center will establish a permanent immigration law center at UMB, which will provide a place for Maryland's immigrant community to turn to for high-quality legal representation. The gift will endow a faculty position and a permanent managing director for the Center. Marco Chacón is the founder and former CEO of Paragon Bioservices, Inc.

The University of Maryland, College Park's National Center for Smart Growth received a $3 million philanthropic investment from JPMorgan Chase to help prevent displacement of small businesses in gentrifying areas. The Small Business Anti-Displacement Network will work to create tools and promote policies that prevent the displacement and closure of vulnerable businesses, including minority and immigrant owned businesses that have suffered due to the pandemic.
USM News Briefs
Coppin State University is launching a new Bachelor of Science in Nursing (BSN) to Doctor of Nursing Practice (DNP) degree program in the fall of 2021. The program will provide registered nurses who have a BSN degree an accelerated path to the DNP degree. The program is one of only two BSN to DNP programs in the nation among HBCUs. Read more.

In April, the UMBC Mock Trial team defeated Yale University to win the American Mock Trial Association National Championship for the first time in the program's history. The team met Governor Larry Hogan, who congratulated them on their victory. Read more.
UMBC Mock Trial Team, pictured with Governor Larry Hogan and UMBC President Freeman Hrabowski
Towson University President Kim Schatzel has been named to The Daily Record's Top 100 Women in Maryland list. She was also named to the list in 2019 and 2017, which means that she is one of 12 women joining the Circle of Excellence this year. Read more.

University of Maryland, College Park President Darryll Pines was named a Top 50 leader in Higher Education by the National Diversity Council. Top leaders are recognized for their innovation, strategies, and pioneering in the field of education. Read more.

The Baltimore Business Journal recently published a profile on UMGC President Gregory Fowler, who became president of the university in January of this year. Read the profile here.
USM Institutions Among Top Producers of Fulbright U.S. Scholars and Students for 2020-21 Cycle
The University of Maryland, College Park, the University of Maryland, Baltimore County, and Salisbury University have been named to the Chronicle of Higher Education's list of "Top Producers of Fulbright U.S. Scholars and Students, 2020-21." UMCP produced 16 Fulbright U.S. students, UMBC produced 11, and SU produced six. UMCP was one of 17 colleges and universities recognized for producing a high number of both Fulbright U.S. students as well as U.S. Scholars, a program that supports faculty, researchers, and administrators. UMBC students were selected for programs in Romania, Latvia, South Korea, Jordan, Kazakhstan, Laos, Malaysia, Mexico, and Portugal. For the fourth year in a row, Salisbury University has made the list of Fulbright top producing universities.

In addition to the USM institutions that made the Chronicle of Higher Education's list, UMCES has two scientists who were named Fulbright Scholars for the 2020-21 cycle and the University of Baltimore has six faculty members serving in the U.S. Fulbright Specialist Program, which sends faculty and professionals to serve as consultants at academic institutions abroad. In addition, UMES professor Lombuso Khoza was selected for the Fulbright International Education Administrators Seminar award for Taiwan.