Report from the Board

Spring/Summer 2012

 

Board of Directors

  • Jason Anselment, President
  • Timothy Burke, Vice President
  • William Robinson, Treasurer
  • Christine Reid Robertson, Secretary
  • Mike Cunningham
  • Judy Ethell
  • H. Michael Finkle
  • David J. Maurer
  • Sue C. Payton
  • Charles W. Witters

Annual Philanthropy Awards And Legacy Celebration

Annual Philanthropy Awards And Legacy CelebrationOn April 13, 2012, we had our first annual Legacy Celebration at the Doudna Fine Arts Center. The Legacy Celebration combined the programs from the Endowment Tea, Student Showcase, Philanthropy Awards dinner and Pinning Ceremony into one happy event! We opened with a reception featuring the Student Showcase in the Doudna Concourse. We moved to the Black Box Theatre for the Pinning Ceremony followed by endowment stories from both donors and recipients. The guest speakers told personal stories about why they became donors and recipients shared how they benefited from their scholarships and awards. The highlight of the event was the presentation of the Burnham and Nancy Neal Outstanding Philanthropist Awards for 2011 to Dr. Helen Krehbiel-Reed and Joan B. Stough. The ceremony was followed by a closing reception to celebrate the event.

Click here to view additional photos from the Legacy Celebration.

The following is more information about our recipients:

 

Lifetime & Heritage Society Pin Recipients

Robert K. Martin, vice president for University Advancement announced each society. As he read the names of the recipients, presidents William L. Perry and Jason Anselment presented them with their pins.

Inducted into the Old Main Society, which honors those individuals who have made a lifetime contribution to the University of $100,000 to $500,000 were: Robert and Mari Debolt, Steve and Mary Drake, Nancy E. Henn Living Trust, Ron and Myra Jeffris, Harold Marker, Michael and Peggy Shanahan, Don and Denice Yost.

Inducted into the Keystone Society, which recognizes individuals who have made a lifetime contribution to the University of $50,000 to $100,000 were: Robin and Lynn Adams, Gerald and Jean Forsythe, Lillian R. Greathouse, Vincent and Pamela Gutowski, William E. Hawkes Living Trust, James E. Martin, Jack and Ann Payan, John Reed and Helen Krehbiel-Reed, Bill and Susan Robinson.

Inducted into the Cornerstone Society, which honors individuals who have made a lifetime contribution to the University of $25,000 to $50,000 were: Ken and Sandy Baker, Joe and Sheila Dively, Daryll and Janice Fletcher, Gordon and Mary Grado, Jean L. Holley, Charles and Doris Keller, David and Jennifer Pankau, Mark R. Rogstad, Aldo and Julie Ruffolo, John and Kathreen Ryan, John D. Schmitt, Bruce and Joni Speer, Robert and Susan Spoo, David and Carol Stevens.

Inducted into the Heritage Society, which recognizes those who have made the commitment to support the University, its students and its programs through planned gifts such as bequests from their estates and life insurance policies, were: Austin A. Apgar, Dario and Madeline Covi, Joe and Sheila Dively, Gordon and Mary Grado, William and Betsy Hine, Thomas R. Hoehn, Rick L. Ingram, Lewis M.K. Long, Marquis and Mildred Maurer, Terrance C. Parks, Jack and Ann Payan, John L. Roberts, Steve and Kim Shirar, Catherine A. Smith, Mike Shelton and Linda Warmoth-Shelton, and Elaine Wagner.

2011 Outstanding Philanthropists

This award is bestowed upon individuals and organizations who have demonstrated dedication and commitment to the academic and cultural well-being of Eastern Illinois University by providing sustaining financial support through lifetime contributions, and pledges or planned gifts as well as service to the University and the community.

Dr. Helen Krehbiel-Reed retired from EIU as a professor of music education. Helen received a Bachelors of Arts in Music Education from Bethel College in 1957, a Masters of Arts in Music Education from EIU in 1968 and a Doctorate from the University of Illinois in Curriculum and Instruction with an emphasis in Music and Arts Education in 1990. In 2005, she received the Graduate School Alumni Award and is an active supporter of the Eastern Symphony Orchestra and the Tarble Arts Center.

Joan B. Stough is a good friend of the University and a geologist/paleontologist who has contributed much to the field of science. Joan dedicated her 2011 Outstanding Philanthropist Award in memory of her lifelong friend Dr. Marion Webb. Dr. Webb received her Bachelors of Arts in Education from Eastern Illinois State Teachers College, a Masters of Arts in Spanish from the University of Colorado and a Doctorate in Spanish from Ohio State University. Dr. Webb dedicated over 40 years to teaching and education.

 


 

The Board met on June 15, 2012 to receive reports from the University and to consider action taken by its committees.


UNIVERSITY REPORT

Over the past year EIU has continued to gain recognition for the achievements of our students, faculty, and staff. The generosity of our donors and the support of the EIU Foundation are integral parts of our team approach that has led to these achievements. We very much appreciate the work of the Foundation and look forward to a future of even more achievements.

We continue our tradition as an institution devoted to academic excellence. As in the past, we continue to be in the top 5% of masters institutions in providing students who achieve the doctoral degree. This happens because of the spirit of inquiry that our faculty bring to the classroom, lab, and research experiences. Also on the academic front Dr. David Raybin of our English Department was named the CASE Illinois Professor of the year—a signal honor, and the first such honor for EIU. For the second time in the prestigious award's 24-year history, an Eastern Illinois University student has been recognized as a Barry M. Goldwater Scholar. Jonathan Jones, a physics/pre-engineering major, was selected as one of 282 sophomores and juniors from across the U.S. to receive this renowned scholarship, considered the premier undergraduate award of its type in the areas of science, math and engineering. Emily Schumacher, Caitlin Clancy and Ericka Duncan, all senior health studies majors, received first place in the 2012 American Association of Health Educators National Case Study Competition. Their 12-minute health education program was titled "BUST:  A Program to Reduce Underage Drinking in Boston Public Schools."

EIU continues to be recognized for its environmental responsibility. This spring for the first time, The Princeton Review named EIU as one of the most environmentally responsible colleges in the United States and Canada. The well-known education services company selected EIU for inclusion in its second annual edition of "The Princeton Review's Guide to 322 Green Colleges: 2012 Edition." Eastern' s profile reads, in part, that "With all of its sustainability initiatives coming to fruition, Eastern Illinois University is proving why it was 'green before it became a buzzword.'"  The article further states that, since Eastern implemented its recycling practices, "more than a million pounds of waste have been diverted from landfills each year for the past 12 years, while cutting yearly waste production from 4.1 million pounds to 3.2 million during that same span." The profile mentions EIU's commitment to planting and maintaining trees, performance contracts that have cut energy and potable water consumption, recycling programs in every building across campus, and the use of green certified cleaning products. And, of course, the profile mentions the University's recently completed Renewable Energy Center, which utilizes biomass gasification and replaces the coal plant that had fueled the campus for nearly 80 years.

At about the same time the guide was released, Eastern learned that it once again attained Tree Campus USA status. First earning this status in 2010, EIU is one of 148 American colleges and universities to be recognized via this partnership of Toyota and the Arbor Day Foundation. It is one of 13 Illinois institutions to make the latest list. Tree Campus USA recognizes college and university campuses engaged in effective management of their campus trees, as well as development of connectivity with the community beyond campus borders to foster healthy, urban forests. Recognized institutions also strive to engage their student population in these efforts by utilizing service learning opportunities centered on campus and community forestry efforts.

We have emphasized community service over the past four years and we have now been recognized by the Corporation for National and Community Service and the U.S. Department of Education for our commitment to bettering our community through service and service learning. For the first time, EIU was admitted to the CNCS National Service Honor Roll for its work in volunteerism and community service. This past year, Eastern students have completed more than 110,000 hours of community service, including direct and indirect service to more than 40 different organizations in the Coles County area, as well as in-classroom service with faculty members.

National recognition is also achieved by our dedicated professional staff.  Eastern's new admissions website was nominated as a finalist in the 2012 EduStyle website design awards – specifically in the "Best Visual Design" and Best Sub-site" categories. In short, this means our site is currently considered to be in the top four or five in the country.

The afore-mentioned awards and recognitions don't even touch upon the (literally) hundreds of awards and scholarships that are presented each spring to our students. I believe the importance of awards and recognition is that they inspire the recipients and their colleagues to achieve even more, and to "expect greatness" of themselves.

Finally, I can't mention the phrase "expect greatness" without telling you about the phenomenal success of the EI&U "Expect Greatness" campaign for Eastern. In testimony to the generosity of our alumni, friends, and faculty and staff, and thanks to the great work of our philanthropy staff and many volunteers, we have achieved our fifty million dollar goal two years early! We will be celebrating on September 28 an achieved level of support far above our goal. Stay tuned for the final number!! The day we celebrate will be a great day to come together and acknowledge a signal achievement in the histories of Eastern Illinois University and the Eastern Illinois University Foundation.

Thank you again for your support.

Sincerely,

William L. Perry
President

 


 

COMMITTEE REPORTS

The Real Estate Committee received a report from Mr. Pat Harrington, farm manager from First-Mid Illinois Bank and Trust, on the crop yields and income from the five Foundation farms. The 2012 crop season is unusual, as it began very early due to above average temperatures and below average precipitation. Corn planting began at the end of March and was completed by mid-April, with soybean planting immediately following. The crops on the Foundation farms are doing well, but below average rainfall and higher temperatures in March, April, May and June are starting to have an impact.

The Finance/Audit Committee reviewed the third quarter financial statements, which showed total assets of over $73 million on March 31, along with an operations report showing year-to-date operating expenses over $463,000. The Committee approved the FY13 Operations Budget and reviewed renewal premiums for the Board's directors and officers policy.

The Oversight & Outreach Committee reviewed the proposed amendment to the Bylaws to replace all references to the "Nominating Committee" with "Board Development Committee" and to delete language about variances in term limits which were set to be "automatically deleted from the Bylaws" when all four or five year terms expired.

The Committee met in closed session to review candidates nominated for special recognition at the Annual Meeting in October. The Committee's recommendations met with unanimous approval from the Board. Please see the 2012 Honorary Lifetime Members and Outstanding Foundation Members sections of this newsletter.

The Scholarships & Grants Committee reviewed reports prepared by Christine Edwards, EIU Scholarship Coordinator that track scholarships not awarded. Part of her responsibilities are to investigate the reasons why scholarships are not awarded and to see that appropriate remedies are implemented to ensure all scholarships are awarded each year. The Committee also reviewed the Gift Acceptance Committee Report and the Report on Grants Applied Through the Foundation.

At the June 15, 2012 Investment Committee meeting, Doug ZuHone, instructor for the Finance 4220 Security Analysis Class, gave a report on the approximately $100,000 student-managed fund of Foundation money. There were 18 undergraduates and one graduate student in the spring semester managing the fund out of the Security Analysis Center. Six EIU Finance students attended the RISE (Redefining Student Strategy Education) Conference held at the University of Dayton this spring. The Finance 4220 class finished 8th in the Core Investment Category for the calendar year 2011. Additionally, Mercer Investment Consulting gave a performance report, manager review and recapped various asset allocation changes made at recent meetings designed to increase the Endowment portfolio's long-term rate of return with little change in risk.

As part of the continuing due diligence efforts, the Investment Committee and staff held a full one-day meeting on August 15, 2012 at Mercer Investment Consulting headquarters in St. Louis, Missouri. Presentations included deeper looks at alternative and traditional investments, as well as an on-site due diligence document review.


 

 

2011-2012 June Fiscal Year Performance Report From The Investment Committee

After two strong double-digit fiscal year returns for the EIU Foundation Endowment, the 2011-2012 June fiscal year came in at a more modest 1.6% return. However, the three-year annualized return is a stellar 11.6%. As scholarship payouts are based on a three-year rolling average, the three-year annualized number is important to our targeted 5% annual payouts. Additionally, since the July 1998 inception of the Mercer Investment Consulting (previously Hammond Associates) relationship, the Endowment has returned an annualized 5.5%, not only surpassing the 5% targeted payout but far outpacing both the 4.0% Broad Policy Index annualized return and a less diversified mix (70% stocks/30% bonds) annualized return of 4.4%. One can conclude that outperforming the Broad Policy Index means we have done so by picking good investment managers and outperforming a less diversified mix was done with less risk.

The recent fiscal year was marked by considerable volatility and punctuated by the 513 point decline in the Dow Jones Industrial Average on August 4, 2011 followed by an August 8 decline of 635 points. A June 2012 4.8% rally in our equity holdings, led by a 6.9% rebound in our International holdings, pushed the Endowment into positive territory for the year. While diversification in the portfolio has been a positive the past several years, including during the declines of the 2008-2009 Financial Crisis period, diversification worked against us in the recent fiscal year. The less diversified mix as a combination of the S&P 500 and high quality bonds (buttressed by US Government bonds, the Barclay's Aggregate Index is about 80% AAA) was a distinct winner while the Endowment was hurt by declines in International holdings and Liquid Real Assets.

Over the course of the past year, we made targeted Asset Allocation and Manager changes, including replacing SSgA Emerging Markets with Aberdeen Emerging Markets, a manager whose Fund returned the Endowment 10.1% over the last six months of the fiscal year — far above the 3.9% MSCI Emerging Market Index. Additionally, we completely eliminated an underperforming manager, Davis New York, and redistributed the proceeds over a variety of funds. For the last 3-year period, 14 of the Endowment's 16 managers for whom there are comparable universes ranked in the top half of their respective peer universes with 7 of those 14 managers in the top quartile. For the past 5-year period, 15 of the 16 managers ranked in the top half of their comparable universes with 12 of the managers in the top quartile for the 5-year period. The one 5-year underperformer in the third quartile, Brandes International, has a strong long-term track record and we are seeing signs of a positive turnaround in recent months.

Board Report Chart

Source: Mercer Investment Consulting

 


 

A SPECIAL WORD FROM THE INVESTMENT COMMITTEE

August 15, 2012

The advent of a 24-hour news cycle perpetuated the need for speed to deliver stories and data at a dizzying pace. A bias towards the old newspaper adage "if it bleeds, it leads" seems to be in force, which spotlights negative news. Further, disregarding which side of the political aisle one personally sits on, how does one react when political leaders from all sides warn of dire economic consequences unless their particular mandates are followed—especially during a major election cycle when emotions tend to run high? Add to the mix the threat of developed sovereign nations defaulting on their debt and the potential break-up of the Euro. Throw in the memory of surviving the 2008-09 Great Financial Crisis. Is it any wonder that risk aversion permeates investor psyches around the world? Consequently, as confidence has eroded, investors have been erring towards a more conservative-than-historical investment approach.

Certainly, in the United States, we should not be surprised that investors have adopted a risk aversion approach with the overlay of the "Baby Boom Generation" aging and the need to support actual or soon-to-be retirement. That generational change is shifting the Boomers from savers towards utilization of the vast nest eggs they created over the past few decades. Rather than keep those nest eggs invested in risk assets, such as equities, investments moved towards the perceived safety of cash and bonds to guard against the potential negative effects of a stock market crash. To avoid the pain of shrinking balance sheets, many investors have heeded the advice of Somali Canadian singer K'naan in "Hurt Me Tomorrow" as he sings, "This ain't a good time, But when is it ever, I know the perfect time, And baby that's never."

With the amount of media focus (in whatever the delivery format) given to negative news, how many would be surprised if negative economic and market outcomes came to pass? How many would be surprised if, in reality, the outcomes were positive? I would opine that the low readings on public confidence polls suggest the number who would be genuinely surprised by positive outcomes is far outnumbered by those looking for negative outcomes. One has to also be cognizant of the effects of the shift towards risk aversion and away from risk-based assets. In recent years, that shift has created price pressure, which set up some attractive valuations in the market place. In effect, the market gets to a point of anyone who wants to sell, has sold and the market is discounting the worst-case economic and earnings scenarios. The stock market's upward move from the February 2009 lows to the recent highs seems to be a textbook example of how stocks were able to climb the "Wall of Worry" erected by the negative sentiment emanating from such happenings as a global financial crisis, a massive Japanese earthquake, tsunami and nuclear meltdown, destructive U.S. tornadoes, the ratings downgrade of U.S. debt, European Sovereign Debt problems and many more concerns that the media focused upon. Yet, many times the reading of the inside pages of the newspapers (or underlying facts presented) have been more positive than the headlines. American company balance sheets are at historically strong positions, despite a weak economic recovery and relatively high unemployment. Valuations have been attractive, especially in light of American company profitability growing to record levels. In many instances, well-covered dividend yields for American companies offer more income that U.S. Treasury Bonds. We don't suggest blind compliance with the old Johnny Mercer written tune as he sang, "You've got to accentuate the positive, Eliminate the negative, And latch on to the affirmative, Don't mess with Mister In-Between." We do suggest you look at the macro questions from several directions.

We admit to not possessing the elusive Fortune Teller's magic ball, so we are at a disadvantage to seers around the globe in predicting the future. But as someone once said "Isn't it strange? The same people who laugh at gypsy fortune tellers take economists seriously." We do have the ability, in conjunction with Mercer, our Investment Consultant, to look at measures of risk/reward, as well as the ebb and flow of valuation measures on asset classes, to construct a template for our future. In recent months, we have taken advantage of the ebb and flow of valuations to build up the Eastern Illinois University Endowment Fund's investment in Emerging Market Stocks and Private Equity Funds where Mercer's analysis of attractive valuations suggest potentially higher returns over the longer-term.

We remain mindful of the negatives that can affect the EIU Foundation portfolios, but also seek to balance risk and reward as we invest to meet the ongoing payouts needed in the current challenging time of extremely low interest rates.

Donald L. Gher, CFA
Chair, Eastern Illinois University Investment Committee


 

FOUNDATION ANNUAL MEETING

Mark your calendars! The Annual Meeting will be held on Friday, October 12, in the Lecture Hall of the Doudna Fine Arts Center. The Board approved the following nominees for membership in the Class of 2017

  • *Alan Baharlou | Charleston, IL
  • Austin Apgar | Tuscola, IL
  • *Timothy Burke | Evanston, IL
  • *Vickie Burke | Evanston, IL
  • *Michael Conlin | Auburn, IL
  • *Rex D. Cooley | Flagstaff, AZ
  • *Harry L. Crisp | Marion, IL
  • *John Currey | St. Catharines, ON
  • *James B. Curtis | West Hollywood, CA
  • *George Cutright, Sr. | Toledo, IL
  • Christopher Dyrhaug | Ridgewood, NJ
  • Patricia Dyrhaug | Ridgewood, NJ
  • Rick Edwards | Arcola, IL
  • *Betty Elliott | Charleston, IL
  • *Thomas W. Faller | Springfield, IL
  • *H. Michael Finkle | Naples, FL
  • *Gina Giffin Garcia | Springfield, IL
  • *Robert Glover McGaw | Park, IL
  • *Gordon Grado | Scottsdale, AZ
  • *Steven L. Grissom | Mattoon, IL
  • *Jerry D. Heath | Charleston, IL
  • William Hill | Charleston, IL
  • *Carolyn Brown Hodge | Paris, IL
  • *Stanley R. Huffman | Charleston, IL
  • *John Inyart | Charleston, IL
  • *Vaughn Jaenike | Charleston, IL
  • *Dwight H. Kensil | San Diego, CA
  • *Jeffrey Knezovich | Naperville, IL
  • Barbara Kuhl | Champaign, IL
  • *Joyce A. Madigan | Charleston, IL
  • *Brent Manning | Somonauk, IL
  • *Betsy Mitchell | Champaign, IL
  • *Carl T. Mito | Arlington Heights, IL
  • *Jerry Myerscough | Charleston, IL
  • *Jagdish L. Nanda | Charleston, IL
  • *Sylvia Nichols | Edwardsville, IL
  • Jill Nilsen | Charleston, IL
  • Julie Nimmons | Litchfield, IL
  • Sundeep Oberoi | Naperville, IL
  • William O'Rourke | Springfield, IL
  • Jayne Ozier | Charleston, IL
  • Wendy Perrow | Baltimore, MD
  • *Wayne Pichon | Anchorage, AK
  • *Jack Pine | Oak Brook, IL
  • *Carol Richardson | Scottsdale, AZ
  • *J. David Riddle | Charleston, IL
  • *Roger T. Roberson | Lake Tomahawk, WI
  • *Christine Reid Robertson | Naperville, IL
  • *William Robinson | Scottsdale, AZ
  • *Ferne Rogers | Charleston, IL
  • Marc Sanner | Illiopolis, IL
  • *Larry Smith | Peachtree City, GA
  • Katherine Snyder | Minneapolis, MN
  • *Scott Stevens | Charleston, IL
  • Charles Titus | Charleston, IL
  • Carol Tyler | Decatur, IL
  • Kaye Woodward | Charleston, IL
  • *Norma Winkleblack | Charleston, IL
  • *Charles Wootton | Charleston, IL
  • Don Yost | Charleston, IL

* Renewing members are indicated with an asterisk.

The Board also approved four candidates to fill vacancies on the Board of Directors created by directors whose terms were expiring. They are all completing their first three-year term, and are eligible to serve a second three-year term:

  • Tim Burke | Evanston, IL
  • Michael Cunningham | Marietta, GA
  • Sue Payton | Colorado Springs, CO
  • Christine Reid Robertson | Naperville, IL

The Board approved two candidates to fill vacancies created by the resignations of Joe Dively who has one year remaining in his first term, and by David Maurer who is completing the third year of his second term:

  • Dr. Janet Treichel | Reston, VA
  • Tim McCollum | Charleston, IL

Janet Treichel will be elected to serve the final year remaining in Mr. Dively's first term and then will be eligible for one more three-year term. Tim McCollum will be elected to serve a full three-year term and then will be eligible for one more three-year term.

HONORARY LIFETIME MEMBERS

Congratulations to Ken Baker and Dr. & Mrs. Jerry Heath who will be inducted as Honorary Lifetime Members in the Foundation in October. They will join Harold Marker, Lou Hencken, Jan Tarble, Ike Kennard, Jim and Brenda Edgar, Dick Lumpkin, Burnham Neal and Max and Mary Cougill, Nathaniel J. Anderson, Joan Embery and Rudolph "Rudy" Hlavek who were previously inducted into this prestigious class. Honorary Lifetime Members have brought significant recognition and attention to the University, have provided substantial lifetime contributions, or have attained national or international prominence and prestige in their careers and lifetime endeavors.

OUTSTANDING FOUNDATION MEMBERS

We are pleased to announce that Alan Baharlou, June Bubeck Giffin and Dennis D. Spice will be recognized as Outstanding Foundation Members who demonstrate the ideals of membership in the Foundation through their volunteer service to the Foundation and to the University's academic and athletic programs, providing the leadership, expertise, and knowledge essential for the work of its advisory and governing boards, administrative councils and committees, or its executives-in-residence programs. They will join Michael Conlin, Ruth and Charles Dow, John Inyart, Joyce and Matt Madigan, Mac Corley, Jerry Myerscough, Jim Schnorf, Jonathan F. Gosse and Sylvia R. Nichols in this special class of members.

A reception will follow the Annual Meeting to celebrate the contributions of these honored members and to thank all Foundation members for their continued support to the University. We hope you will join us.

October 12-14 also marks Homecoming weekend at EIU. Come see the many changes occurring on campus and then cheer the Panthers to victory on Saturday when EIU takes on Jacksonville State at O'Brien Stadium. Tickets may be purchased in person at the EIU Athletic Ticket Office, Room 2530 in Lantz; by phone at 217-581-2106; or online. Check the EIU Homecoming website in the coming weeks for more information on Homecoming activities.

And, while you're checking out the University's websites, please visit the Foundation's website for more photos from Legacy Weekend, past copies of the Report from the Board, and a current report on the endowment's investment portfolio. You will also find more information about our Board of Directors and can view an online copy of the 2011 Honor Roll of Donors.

 


 

2011 ANNUITANT AMBASSADOR OF THE YEAR

EIU annuitants serve as volunteer ambassadors at the Neal Welcome Center, assisting our visitors, guests and students who come in to complete their scholarship paperwork. In recognition and appreciation of the Ambassadors service and dedication to the effort, the Board has selected Barbara Funk as the 2011 Annuitant Ambassador of the Year. Barbara represents the ideal volunteer with her cheerful manner, her enthusiasm working with students, and her willingness to help staff on other tasks.

 


 

VISIONARY SOCIETY

The Scholarships and Grants Committee received a report of the endowments added to the Visionary Society since January 1, 2012. The Visionary Society recognizes those individuals and corporations who have created endowments in support of the educational mission of the University.

  • William A. Smith Scholarship in Recreation Administration
  • Roseann Watkins Drew Research Award in Early Childhood Education
  • EI+U Leadership Fund
  • DiPietro Memorial Mathematics Education Scholarship
  • Karen D. Medina BGS Leadership Scholarship
  • Dr. Joseph W. Pankau Scholarship in Health Studies
  • Lynn Karen Adams (neè Broholm) Memorial Scholarship
  • Amelia Daddazio Women's Studies Fund
  • Paul and Katherine Snyder Faculty Development Fund
  • Paul and Katherine Snyder Scholarship
  • Student Art Gallery Fund
  • Linda Witt Komes Language for Literacy Scholarship
  • Doug DiBianco Pride Scholarship
  • John & Joyce Dively Education Literacy Scholarship
  • Robert W. & Laura M. Hussey Scholarship
  • Tarble Arts Center Touring Exhibition Expansion
  • Clare E. Kruckenberg Mathematics Scholarship
  • Robert Hennings HA Scholarship
  • President's Fund for Research & Creative Activity
  • Paul D. Pierotti Memorial Scholarship

A donor who wishes to fund an endowment through a bequest or by making regular payments over time (e.g. through payroll deduction, automatic monthly charges to a credit card, or electronic fund transfers from a bank account), may wish to sign a Letter of Intent. This document ensures a donor that the Foundation is aware of his/her interest in establishing an endowment over time, and provides the means for a formal agreement to be written now, specifying how the endowment will benefit the University's students, faculty or programs in the future.

Sometimes a donor prefers to give a non-endowed gift for immediate use by the University. In this case, a Memo of Understanding is written for the Annual Scholarship or Fund to ensure the gift is directed according to the donor's wishes. The following memos of understanding have been approved since January 1, 2012:

  • Vincent P. and Pamela R. Gutowski Excellence in Research Award for Geography Faculty
  • BGS Degree Completion Scholarship
  • Leona Stanford Vollintine Charitable Trust Scholarship Fund
  • Andrew Galo Scholarship for International Studies
  • Sabina L. McNutt and James L. McNutt, Sr. Education Scholarship
  • Patricia Ann Dyrhaug Women's Basketball Fund
  • McCollum Science Travel Fund
  • EIU University Professionals of Illinois Graduate Alumni Scholarship
  • Dolly & Gene McFarland Discretionary Fund in Kinesiology & Sports Studies
  • Birdina Gregg Annual Scholarship
  • School Counseling Annual Scholarship

 

HERITAGE SOCIETY

The Heritage Society honors those who make the commitment to support the University, its students and its programs through planned gifts, such as bequests from their estate or by designating the EIU Foundation the beneficiary of their IRA assets or life insurance. We often get inquiries from donors asking how to accurately make these provisions for the benefit of the University.

Here is the information that you (or your professional advisor) will want to incorporate into your planning documents:

Eastern Illinois University Foundation
FEIN 37-6031320
860 W Lincoln Avenue
Charleston, IL  61920

Following is an example of appropriate language that you might use:

"I bequeath ($ amount) or ( number %)  of my estate to the Eastern Illinois University Foundation, FEIN 37-6031320, located at 860 W. Lincoln Avenue, Charleston, IL  61920, to be used by the Foundation for the "Name of Scholarship/Fund/Program," the provisions of which are outlined in a separate agreement."

Our Directors of Philanthropy would be pleased to work with you on drafting a gift agreement that will outline your intentions for the planned gift once your estate matures. The final document, signed by you and the Foundation, will give us specific instructions to ensure we administer your gift according to your intentions and objectives. The fully executed document will then simply be held in your file here at the Foundation until such time as your estate is settled.

Donors who make planned gifts are recognized in the Foundation's annual Honor Roll of Donors as a member of our Heritage Society.  It is your decision whether you notify us of a planned gift made in your estate plan, and whether or not you would like recognition for doing so. Membership in the Heritage Society is non-binding.

We would sincerely appreciate consideration of EIU in your estate plans!  Please contact us toll-free at 1-866-581-3313 if you have any questions or desire additional information on making a planned gift.

This information is not intended as legal, tax or investment advice. For such advice, please consult a professional advisor.

  • Oct. 12 Foundation's Annual Meeting / Homecoming Weekend
  • Oct. 13 Board Meeting