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JPBC Minutes: October 3, 2024

8:30 – 10:30 a.m., Virtual Meeting via Teams

Attendees

Voting Members
  • Lorraine Acker
  • Mike Andriatch
  • Qudus Bawa-allah
  • Jennifer Blood
  • Monica Brasted
  • Frances Dearing
  • Michael Doyle
  • Tom Hernandez
  • Sara Kelly
  • Stephanie Learn
  • Theresa Martinez
  • Carl O’Connor
  • James Onley
  • Skye Paine
  • Kathy Peterson
  • Heather Raczkowski
  • Jamie Spiller
  • Elizabeth Thorpe
Non-Voting Members
  • Julie Caswell
  • Steve Cook
  • Eileen Daniel
  • Damita Davis
  • Keith Davis
  • Crystal Hallenbeck-McPhall
  • Ian Harper:  Co-Chair
  • Mike Harrison
  • President MacPherson0
  • Gary Morog
  • Logan Rath
  • Elliot Weininger:  Co-Chair
  • Melissa Wight
  • Robert Wyant
Guests
  • John Carlson
  • Denise Copelton
  • Jennifer Green3
  • Julie Letourneau
  • Tammy Jo Manz
  • Pamela O’Keefe
  • Janet Roy
  • William Ruiz
  • John Sapienza
  • Rey Sia
  • Bonnie Swoger
  • Sarah Unger
  • Christine Walterick

Regrets

Voting Members
  • Martin Abraham
  • James Cordeiro
  • Ohiohen Uzebu
Non-Voting Members
  • Ian Harper: Co-Chair
  • Rachael Killion

The meeting was called to order at 8:30 a.m.

 

Approval of the Minutes

Dr. Weininger asked the committee to review the September 19, 2024, meeting minutes. Dr. Peterson motioned to approve the minutes; Ms. Dearing seconded the motion. 15 members voted to approve the minutes. Therefore, the minutes were approved.

 

Announcements 

Dr. Weininger announced the following:

  • The committee’s meeting on October 10 will be cancelled and the first working group meeting will occur in its place.

Overview of Advancement and the Foundation

Mr. Andriatch presented an overview on Advancement and the Foundation. The following questions, answers and discussion points occurred:

  • Appreciation was extended for the presentation.
  • The question was raised regarding if the non-endowment funds are separate from the reserves. It was stated that they are separate.
  • The question was raised regarding if there is a four to five percent draw from the endowment funds to the budget. It was stated that is not correct.
  • The question was raised regarding departmental endowment funds and if the asset growth is transferred to Advancement’s assets. It was stated the restricted funds are not getting invested on a long-term basis like the endowment. They are basically like a checking or savings account.
  • The question was raised regarding if there is a higher ed best practice on a target for Advancement on fundraising net revenue brought in as gifts minus the personnel and operational cost. It was stated that not directly because there are long term issues. If you look at what is brought in annually and if an individual gives a planned gift, we may not see those funds for 20 years. It is really a long-term investment into the financial health of the institution. It was added that the gifts that President Macpherson and Mr. Andriatch are cultivating now might be ten years before we get a result and there may be other individuals in charge of the institution at that point. The work that is being done by the giving officers doesn’t always equate to an individual putting the work in this year and therefore get a result this year. There is a Counsel for the Advancement and Support of Education and they have lots of opportunities for conferences and guidance in thinking about endowments, how to set things up and what kind of return on investment you can make. They are set up for Harvard as well as SUNY Brockport so there is no standard across the board that would give us that target. It is not something SUNY has decided as a particular metric. If SUNY does decide to institute a metric, we would implement it.
  • It was stated that it is great to see the growth in donations.
  • The question was raised regarding the scale of future commitments. It was stated that in new planned gifts for the campaign we have about $1.6 million. We have pledges that are just under $660,000. We have other planned gifts for several million from the previous campaign that we have not seen the funds for yet. It is hard to put a true number to the planned gifts because some of them are percentages of estates.
  • The question was raised regarding how big the institutional scholarship fund will have to grow to that annually $300,000 will be put in and interest and other earnings will accumulate therefore over time it will grow to a sufficient point that we can begin funding our institutional scholarships to take some pressure off of the regular budget and reserves spending. It was stated that it is about four to five percent on an annual basis. So, if we have a $100 million dollar endowment, that would give us $4-5 million a year. Let’s say in three years we need $500,000 from the fund. We could take the funding out, but that doesn’t help us long term. It does help us in a pinch. Five years ago, we did not have this option. The goal is to continue to let it grow.
  • The question was raised regarding how a current donor can change their donation to go towards the growing fund. It was stated that a conversation could take place to make that change. The example was provided that the Betsy Balzano gift was structured so that there were no limitations on GPA or where they are from. It was just designated to the School of Education, Health and Human Services. As it gets to full endowment level, it is producing twelve, $2,000 scholarships a year. This is also a repeating scholarship, it is not a one year. So, a student is going to get a $2,000 scholarship a year for all four years.

Plan for Remaining Items from JPBC Charge

  • Dr. Weininger discussed the plan for the remaining items from the Charge and President Macpherson expressed her gratitude for all of the important work that will be completed with these items.

Additional Items from the Committee

No items at this time.

The meeting was adjourned at 9:40 a.m.