Name: Longwood University Foundation, Inc.
Assets Under Management: $76.4 Million (Source: Longwood University Foundation, Inc. on 8/6/2014)
Portfolio Insights: “The Longwood University Foundation, Inc. and Affiliates (the “Foundation”) receives 85% of the Hull Foundation’s net income. The assets of the Hull Foundation include two charitable remainder trusts and other investments. Fifteen percent of the Hull Foundation net assets are payable to unrelated third parties and have been recorded in the consolidated statements of financial position as amounts payable to third-party beneficiaries.
The Foundation’s endowment consists of approximately 330 individual funds established for a variety of purposes including both donor-restricted endowment funds and funds designated by the Foundation’s Board of Directors (the “Board”) to function as endowments. Net assets associated with endowment funds, including funds designated by the Board as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions.” (Source)
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Top Longwood University Foundation, Inc. Endowment Fund Headlines:
1) The Longwood University Foundation, which reported a $35.9 million market value in FY10, had a 14.2 percent net investment return during the fiscal year. “The investment gains received during FY10 are first being used to rebuild underwater funds and then replenish reserves that were used to buffer the endowment distributions of the underwater funds,” says Hazel Duncan, the foundation’s chief financial officer. This approach has already generated positive results for her institution, as the percentage of endowments underwater fell from 75 percent in 2009 to 25 percent in 2010. Overall, the share of underwater endowments fell from about 22 percent to 14 percent, with the smaller institutional funds seeing larger average declines in underwater assets. (Source)
2) W. Taylor Reveley IV began his term as Longwood University’s 26th president on June 1, 2013. He is the grandson, great-grandson, and great-nephew of Longwood graduates, and the great-grandson of a Longwood biology professor. As president, his principal areas of focus have included championing the value of the liberal arts and sciences in public higher education; improving student retention and graduation rates, particularly through the use of “big data” to track student progress and offer targeted support; and elevating the national profile of Longwood — Virginia’s third-oldest public university, and one of the hundred-oldest colleges and universities in the nation.
A Richmond native, Reveley graduated with honors from Princeton University, where he majored in classics and was a member of the football team. He received a master’s degree from Union Presbyterian Seminary and a J.D. from the University of Virginia. He began his career as an attorney with the law firm of Hunton & Williams, engaging in mergers, acquisitions and financings totaling $1.6 billion for both public and private entities. He also represented the Harvest Foundation in its work to start a new, public baccalaureate initiative in Southside Virginia, an effort that resulted in the founding of the New College Institute of Martinsville. (Source)
3) Longwood University has received a $1,000,000 gift from Dr. Edward I. Gordon to fund the Clinical Simulation Learning Center for the new nursing program. This is the largest gift from a local donor in the history of the university.
“Dr. Gordon’s gift represents a significant milestone in the life of Longwood’s nursing program,” said Longwood President Dr. Patricia P. Cormier. “As a physician who has served a rural area for his entire career, Dr. Gordon is acutely aware of the critical need for healthcare in south-central Virginia. This gift, the largest in Longwood’s history from a local donor, will open the door for the next generation of healthcare providers in this region. I know I speak for the entire Longwood community when I express our sincerest gratitude to Dr. Gordon.”
Dr. Gordon has practiced pediatric and family medicine in Farmville for 36 years. In addition to his family practice, he serves as chief physician to The Woodland retirement community; medical director for Piedmont Regional Jail and Farmville Police Department; and as medical examiner for Prince Edward and Cumberland counties. He developed the pediatric and nursery departments for Southside Community Hospital where he also established the newborn and pediatric intensive care units. He has represented Ward A on the Farmville Town Council for three years. (Source)
4) A company led by a Longwood University alumnus has donated $30,000 to the SNVC Institute for Leadership and Innovation, based in Longwood’s College of Business & Economics, to implement a leadership development training program in a Virginia elementary school.
The gift from The Choice Inc., a staffing company headquartered in Washington, D.C., whose president and CEO is Drew Hudson, a 1990 graduate, will be used to implement The Leader in Me, which is for students in pre-kindergarten through grade six and is based on the 7 Habits of Highly Effective People. Hudson hopes the program will be implemented in a school in Culpeper, his hometown. The gift is part of the SNVC Institute’s campaign to raise $100,000 for The Leader in Me.
“In an era of focus on SOLs, gifted and talented students, and AP and IB programs, it is a pleasure to be a part of a program such as The Leader in Me,” said Hudson, a former president of the Longwood Alumni Association. (Source)
5) Longwood University is an institution of higher learning dedicated to the development of citizen leaders who are prepared to make positive contributions to the common good of society. Building upon its strong foundation in the liberal arts and sciences, the University provides an environment in which exceptional teaching fosters student learning, scholarship, and achievement. As the only four-year public institution in south central Virginia, Longwood University serves as a catalyst for regional prosperity and advancement.
Longwood University will transform capable men and women into citizen leaders, fully engaged in the world around them. The University will be a first choice institution renowned for developing the power of citizen leadership in its students for the benefit of the greater community. (Source)