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University System of Maryland Foundation, Inc. Endowment Fund

Name: University System of Maryland Foundation, Inc.

Assets Under Management: $963 Million (Source: University System of Maryland Foundation on 6/30/2014)

Annual Report: University System of Maryland Foundation’s 2014 Annual Report

Portfolio Insights: “This was a year of milestones, with the University System of Maryland (USM) marking its 25th anniversary. We celebrated the System’s many accomplishments—just a few of which are described in this report. The Foundation, meanwhile, celebrated 35 years of service to public higher education in Maryland. We are proud of how well both the USM and our Foundation have been able to adapt and expand our role in service to the State of Maryland. As we enter our 36th year as an organization, significant changes lie ahead. We will be bidding farewell to Chancellor William E. “Brit” Kirwan, a transition for our organization and for the USM. Nelson Mandela once said, “Vision without action is just a dream, action without vision just passes the time, and vision with action can change the world.” Brit Kirwan is the embodiment of vision with action, and his inspired leadership will resonate across our state for generations. His successor inherits a public higher education system that is nationally renowned for its quality, but even more so, for its spirit of collaboration.” (Source)

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Top University System of Maryland Foundation, Inc. Endowment Fund Headlines:

1) The University System of Maryland Foundation has hired Sam Gallo to be the cio for its $949 million portfolio. The school had been without a cio for nearly a year since the departure of Michael Barry, who left to become the investment chief at Georgetown University (FEI, 6/29).

Gallo, a managing director at PricewaterhouseCoopers, is slated to start in July. He was hired due to his deep investment experience as well as governance expertise, said Leonard Raley, president and ceo. The foundation holds assets from 20 institutions within the University of Maryland system and the cio needs to communicate with multiple boards, he added. In particular, Gallo’s expertise in alternative investments and advising endowments and foundations on matters such as streamlining manager selection were attractive, Raley noted. (Source)

2) The University System of Maryland Foundation, Inc. invests funds on behalf of the System and several other System component units. The majority of the amounts reported as investments by the University of Maryland College Park Foundation, Inc., and the University of Maryland Baltimore Foundation, Inc. are included in the investments reported by the University System of Maryland Foundation, Inc. (Source)

3) The University System of Maryland Foundation received a $200,000 State Systems Transformation Co-creation grant from the Bill & Melinda Gates Foundation on behalf of the USM to help transform the higher education academic model. The USM is one of several higher education state systems selected to build on existing practices to substantially improve student access and success and effect change in higher education. The grant will help the USM enhance the efforts of individual USM campuses to make college completion more attainable and affordable. (Source)

4) In 2002, The University System of Maryland Foundation’s (USMF) investment portfolio was managed solely by the board and accounting staff. Initially joining as senior investment officer, Michael Barry was the sole dedicated full-time investment professional, becoming CIO after only two years. The team, operating from an independent office in Washington DC, has since expanded to include four other full-time positions with rotating summer internships. (Source)

5) The University System of Maryland Foundation, Inc. manages more than $900 million in assets for University System of Maryland’s (USM) member institutions, as well as six Maryland community colleges. The Foundation currently supports the USM’s $1.7 billion federated campaign to raise funds for scholarships, capital projects, and programs at USM institutions. The Foundation’s mission is to strengthen the USM’s capacity to broaden access to high-quality higher education, meet business workforce needs, and conduct groundbreaking research through advocacy, fundraising, investment management, and stewardship. (Source)

About Richard C. Wilson