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GEORGE MASON UNIVERSITY FOUNDATION Faculty Senate Meeting April 3, 2013. George Mason University Foundation, Inc. MISSION STATEMENT The George Mason University Foundation was established in 1966 to advance and further the aims and purposes of George Mason University. 

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GEORGE MASON UNIVERSITY FOUNDATION

Faculty Senate Meeting

April 3, 2013

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George Mason University Foundation, Inc.

MISSION STATEMENT

The George Mason University Foundation was established in 1966 to advance and further the aims and purposes of George Mason University. 

It is a 501(c)(3) non-private foundation and a private corporation organized and operated exclusively for the benefit of George Mason University.  The Foundation is made of up to forty (40) external trustees who can serve as many as three (3) consecutive three (3) year terms (nine years total) who are called the Board of Trustees (BOT).

The Foundation attempts to recruit Trustees who are experts in the areas of real estate, investments, financial management, audit, and fundraising as current Trustees’ terms expire.  The Foundation assists Mason in generating and administering private support, in the acquisition, management, and development of Mason’s auxiliary efforts, real property, and other assets that provide strategic support to Mason.

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George Mason University Foundation, Inc.

“The Foundation is here to help the University meet its aspirations.”

  • Manage private resources and properties
  • Manage endowment on behalf of the University
  • Serve as private partner for PPEAs - Private Public Enterprise Act: Housing VI (Potomac Heights)
  • Retain private property for current & future University needs: GMUF Arlington Project – Fairfax properties
  • Broadlands – Loudoun County property
george mason university foundation inc
George Mason University Foundation, Inc.

Purpose Continued

  • Assist with presidential compensation
  • Help support University development through funding of development services
  • Provide services to advance development
  • Support the aspirations of George Mason University
george mason university foundation inc2
George Mason University Foundation, Inc.

George Mason University Foundation, Inc.

Revenue Sources Budgeted for Fiscal 2012-13

george mason university foundation inc3
George Mason University Foundation, Inc.

George Mason University Foundation, Inc.

Operating Expenses Budgeted for Fiscal 2012-13

george mason university foundation inc4
George Mason University Foundation, Inc.

Real Estate Holdings

AssessedDebt

Mason Administrative Building – University Hall N/A 31,292,041

Potomac Heights - Housing VI N/A 21,925,000

Commerce Building 1 (4085 University Drive) 3,821,700 1,111,334

Commerce Building 2 (4087 University Drive) 4,291,600 1,309,783

Mathy House (President’s Residence) 1,202,620 0

Mathy Lodge 1,163,320 0

University Park Commercial (4260 Chain Bridge Road) 2,622,600 954,529

University Park Apts (4262, 4264, 4266 Chain Bridge Road) 7,883,300 1,444,354

10716 Kelley Drive (GMU Student Housing Leases) 441,450 0

10720 Kelley Drive (Capital Connection Leases) 439,230 0

Shirley Gate Park (11333 Crescent Drive in Shirley Gate Park) 17,000 0

Allman Land (in Alexandria between railroad tracks and I-95) 24,000 0

Broadlands Land (Loudoun County) 12,088,000 0

3434 Washington Blvd, Arlington 82,183,200 65,624,234

Prince William Housing LLC N/A 15,625,000

Prince William Life Sciences Lab LLC N/A 33,210,000

TOTAL $116,178,020 $172,496,275

george mason university foundation inc5
George Mason University Foundation, Inc.

Restricted Real Estate Holdings with Gift Basis

Point of View Estate (Gift from Lynch family) $4,000,000

10569 Assembly Drive (Gift from James Buchanan) 168,500

TOTAL $4,168,500

george mason university foundation inc7
George Mason University Foundation, Inc.

2012-13 Objectives

1) Work to help alumni participation

  • Working with board members to create alumni interest within their firms
    • CGI – Michael Waple
    • Baker Tilly Virchow Krause LLP – John Niehoff
  • Seeking targets of opportunity to host alumni gatherings in the local community and discuss the importance of participating in the annual fund and alumni activities
  • Working with alumni board members to gain participation from their network of Mason Alumni

2) Work with the Foundation board and the broader community to increase private support for Student Scholarship money

    • Include the importance of student financial aid in communication materials to board members, in every board meeting and whenever possible in the broader community
    • Work to improve communication with donors that have created endowments with the hope that they will increase endowment giving or start new endowments
    • Manage the investment advisors to get the Foundation endowment competitive with other University endowment funds – It is NOT currently
george mason university foundation inc8
George Mason University Foundation, Inc.

2012-13 Objectives (Continued)

3) Improve Communication across the board

  • Get contact reports and activities recorded in advance
  • Improve the recently created Foundation ledger e-update for the Board of Trustees to distribute at least quarterly
  • Work more closely with development officers across campus to assist with cultivation and stewardship activities
  • Educate the D&D as well as the BOV as to the activities of the Foundation and the financial picture that the Foundation is working with
  • Ensure that Foundation leadership is on the same sheet of music with University Development and Alumni Affairs staff

4) Support MIPP, Other business opportunities

    • Need to assist efforts to generate revenue from sources other than gifts
    • Continue to help Mason with broad real estate strategy where non-educational revenue activities can enhance cash flows to the enterprise
george mason university foundation inc9
George Mason University Foundation, Inc.

2012-13 Objectives (Continued)

5) Real Estate Issues

  • Commerce
    • Mason has approved test fit
    • LOI has been drafted and Mason has accepted the terms and structure
    • Capital Lease needs to be approved by the General Assembly in short session in SP 2013
  • Arlington
    • Significant lease and financing risk exists 4 years out
    • HIS is close to finalizing a lease with GMUF for 10 years in the vacant retail space
    • John is working with SRA and Mason on a possible space contraction for SRA opening space up for Mason
    • Continue to help Mason with broad real estate strategy where non-educational revenue activities can enhance cash flows to the enterprise
george mason university foundation inc10
George Mason University Foundation, Inc.

2012-13 Objectives (Continued)

6) Governance/Management

  • Nominating & Governance
    • New participation rule for trustees added to by-laws
    • Expand allowable board size to 50 (NOTE: not to deploy now)
    • Expand Board educational opportunities
  • Board Activities
    • Invite Board to “Arts By George”
    • Invite Board to a reception prior to a basketball game
    • Piggyback on a Mason Event in the Spring and have a reception for the board with spouses
    • Encourage increased participation at Alumni/Mason events already planned