Dear Friends:

It is a pleasure to report that, even in this year of transition, 2005 has been good for the UGA Foundation thus far.  We are on a clear course for long term prosperity that will serve to strengthen our primary mission of supporting academic enhancements at the University of Georgia and we remain a primary avenue through which donors can make contributions to the University.  With that in mind, I would like to share a few news items that I believe you will find of interest.

UGA Foundation and University Enter Into Agreement
On July 1, the UGA Foundation entered into an administrative services agreement that is an important step in furthering our ability to help sustain the University of Georgia as a world-class institution of higher learning.  Steve Wrigley, UGA’s vice president for external affairs summed it up best when commenting on the agreement, saying, it “maximizes the UGA Foundation’s ability to support the University of Georgia.” 

From our point of view, that is of paramount importance.  Our sole reason for existence is to support academic enhancements at the University of Georgia and those that choose to fund these endeavors through the UGA Foundation can rest assured we will continue to be good stewards of their money.

2005 – A Record Setting Year for UGA Fundraising
We were excited when final figures showed the University of Georgia had raised $96.9 million in the fiscal year ended June 30.  This represents an increase of almost 25% from 2004 and demonstrates the deep commitment of alumni, friends and corporate donors to support our mission.  Despite the fact that our formal relationship with the University has changed, our mission has not.

UGA Foundation Investments Top Major Indexes … Again
The University of Georgia Foundation has always managed its donor’s funds so as to maximize value.  The fiscal year ended June 30 is no exception.   With close to $500 million in assets, the UGA Foundation earned an annualized return of 10.7% net of fees on the $387 million endowment which it actively invests.  Over the years, the return has  consistently outperformed benchmark Wall Street indexes such as the S&P 500, averaging better than 9% over an eight year period.  We are grateful to our Investment Committee, led by Joe Frierson, for their hard work and unwavering commitment to assuring the financial health of the UGA Foundation.

Scholarship Funding is Attracting the Best and Brightest to UGA
The scholarships funded by the UGA Foundation have proven to be a shining example of academic enhancement dollars being put to proper use.  We now have 89 Foundation Fellows on full scholarships.  The entering freshmen come to the University with an average GPA of 4.13 and an average SAT score of 1520.  Equally impressive is that we now have 49 Ramsey Scholars who bring an average GPA of 4.15 and an average SAT of 1495.  These students are bright, but well-rounded individuals who will reflect positively on the University of Georgia.

The UGA Foundation has also funded a number of other scholarships and academically-based financial awards to University of Georgia students and we hope to continue adding new funds to the scholarship programs.

UGA Foundation Board Extends Congratulations to Trustee Peter Shedd
We are pleased to report that our trustee, Peter Shedd, is the faculty director of UGA’s Institute for Leadership Advancement (ILA).  ILA along with the Carl Vinson Institute of Government are teaming up to provide a new program of leadership training for the heads of Georgia’s state agencies and the senior mangers who report to them.  The Executive Leadership Program is one of five new initiatives under the Georgia Leadership Institute, championed by the Commission for a New Georgia and funded with $1.5 million from the governor’s office.

Welcome to New Board Members!
It is a privilege to announce an outstanding group of new UGA Foundation board members.  These are people who have been longtime supporters of the University and the UGA Foundation, and they bring a broad range of abilities that give us an even greater depth of expertise.  I am pleased to welcome:

• Ben Hall Jr. – A Dublin resident and 1961 graduate of the University of Georgia, and president of Dublin Construction Company.

• Gail Hunnicutt – A 1966 graduate of the University of Georgia, Gail is from LaGrange where she has served as a community leader for many years.

• James LaBoon – An Athens resident and 1958 graduate of the University of Georgia, he is chairman of Athens First Bank & Trust, a Synovus bank.

• Thomas Lawhorne, Jr. –  Dr. Lawhorne was a UGA class valedictorian in 1968 and went on to earn his medical degree at Johns Hopkins.   Today he is a prominent vascular surgeon in Columbus.

• Michael Marshall – Residing in Atlanta, Mike is a retired personal investor, a UGA Foundation Emeritus Trustee and a member of the UGA Athletic Development Council.  He is a former director of Crown Andersen, Inc.

• Richard Means – A co-founder of Sun America Mortgage Corp. (which he and his partner sold to SunTrust in 2003), he is a 1971 graduate of the University of Georgia and resides in Atlanta.

• Thomas Paris – is vice president of the UGA Alumni Society and head of government relations for Atlanta-based General Electric Energy.  He holds undergraduate and graduate degrees from UGA in 1984 and 1985.

• Taylor Smith – Atlanta resident Taylor Smith is a 1976 graduate of the University of Georgia and is a former chairman, CEO and president of the Atlanta Falcons NFL team.

• Charles Williams, Jr. – A 1986 graduate of the University of Georgia and a resident of Rome, Charles is a real estate broker and developer.

We are honored that these leaders, who have represented the University of Georgia with such distinction, have chosen to join the UGA Foundation Board of Trustees.  I am excited by the contributions they can offer this organization and expect great things to come from their participation.  Welcome to one and all!