Endowed funds allow UBalt to
ORGANIZE FOR LONG-TERM FINANCIAL STABILITY.
As a self-sustaining source of funding, The University of Baltimore’s endowment funds continue to grow and provide predictable financial support for the University in perpetuity. Your support of these funds ensures the strength and stability of UBalt for future generations of students.
The University of Baltimore Foundation’s Investment Committee works with seasoned financial managers to strategically build an investment portfolio for the University’s endowed funds. Once vested, the spendable income earned from these investments is disbursed to the University annually (through scholarships and awards, for example) to create an immediate impact, while the remaining principal and additional earnings are reinvested so they can continue to generate revenue for the fund.
An endowment is a lasting legacy that pays tribute to your values and memories, and your desire to make a positive impact throughout the UBalt community and beyond. Safeguarding these legacies is the Foundation’s greatest honor, and we are grateful to all our donors for building a permanent culture of philanthropy at the University of Baltimore.
A Message from Tracey A. DuBree, B.S. ’02, Chair of the
University of Baltimore Foundation Investment Committee
This past year, the financial markets were quite volatile. The Foundation’s Investment Committee is comprised of University of Baltimore alumni and community members, all who care deeply about our mission. Together, we continued to work diligently with the Foundation’s investment advisors to face the headwinds of geopolitical unease, increasing interest rates and inflationary pressures. We want to thank our donors and community for their continued financial considerations to The University of Baltimore. Your commitment and generosity are ever more important during these challenging times.
For Fiscal Year 2022, The University of Baltimore Foundation continued to provide strong financial support to the students and faculty of the University while maintaining a 4% spend rate. Investment Committee members meet regularly and oversee our endowment investments, which are prudently structured in a fashion that is consistent with the guidelines stated in the Foundation’s Investment Policy Statement.
This diversified, balanced portfolio proved resilient during the challenging market conditions experienced during the second half of the fiscal year. While the endowment delivered a negative return during the fiscal year, portfolio performance exceeded that of other institutions of higher education across the nation. The portfolio is designed to provide durable performance characteristics across all phases of the economic cycle and as such, remains diversified across global equities, fixed income, and alternative investments. Importantly, over the past five years, while encountering economic downturns, a global health crisis and a variety of market conditions, the portfolio appreciated approximately 6 percent annually, once again, exceeding the return expectations as defined in our policy.
It’s an honor to chair a committee so dedicated to the future of the Foundation and of our great University. I look forward to a prosperous year ahead.
THE UNIVERSITY OF BALTIMORE FOUNDATION INVESTMENT COMMITTEE
Tracey A. DuBree, B.S. ’02, Chair
Michael L. Curry, B.S. ’77
Marianne Schmitt Hellauer, J.D. ’80
Debra Roberts, B.S. ’81
Kurt Schmoke, ex-officio
Stuart J. Silberg, B.S. ’71
Marie Van Deusen, Esq., J.D. ’89
Hutch Vernon
Vernon H.C. Wright, B.S. ’69
FINANCIAL INFORMATION
THE UNIVERSITY OF BALTIMORE ENDOWMENT
Market value as of June 30, 2022: $61,288,308
Total number of individual endowments: 339
Spending Policy: Currently the approved spending formula calls for an annual distribution of 4 percent of the previous 12-quarter rolling market value average of the endowment.
Distribution: The University of Baltimore endowment distributed $2,147,652 to support campus priorities in the fiscal year ending June 30, 2022.
PORTFOLIO ALLOCATIONS
| Current Allocations | Policy Target | |
| U.S. Equity | 29.9% | 30% |
| International Equity | 13.3% | 15% |
| Emerging Markets | 5% | 6% |
| Fixed Income | 20.9% | 24% |
| Alternatives | 30.9% | 25% |
PORTFOLIO AND BENCHMARK
| 1 YEAR | 3 YEAR | 5 YEAR | 10 YEAR | |
| UBalt Foundation Portfolio | -9.87% | 5.85% | 6.01% | 6.75% |
| Benchmarks | -12.43% | 3.77% | 4.73% | 6.04% |
I look forward to achieving academic excellence with the completion of my degree, and I intend to apply this same standard in my future career. This past year has only affirmed my belief that this institution works tirelessly to ensure that its students—many of whom maintain full-time jobs like myself—have the tools necessary for our future professions. Being a scholarship recipient also affirms my belief that there are many in the UBalt community who care deeply about us and want us to succeed. This recognition motivates me to perform at the best of my ability. The exceptional UBalt leadership and the generosity of donors like you ensures that I and my fellow students will continue to receive an excellent education at The University of Baltimore.”
–ZECHARIAH TATE, B.A. ‘21
ENGLISH
ENDOWMENT MANAGEMENT STATEMENT
The University of Baltimore Foundation is charged with the fiduciary responsibility for preserving and augmenting the value of the endowment, thereby sustaining its ability to generate support for both current and future programs and initiatives. It is the Foundation’s obligation to serve as a responsible steward of all contributions received by preserving the original value of each gift, while at the same time enabling funds to accumulate adequate interest to increase their value and impact.
The Foundation pursues a thoughtful implementation of investment strategies and vigilant risk management in achieving these objectives. The Investment Committee allocates a portion of returns annually to support the overall operations of the University and the actual management of the funds. To achieve its investment objectives the University of Baltimore Foundation retains independent investment managers with the discretion and opportunity to manage the assets in each portfolio to best achieve these investment objectives. The return earned by the endowment is expected to exceed the performance of a passively invested portfolio over rolling five- and 10-year time periods in order to maintain a long-term focus in managing the assets.
The investment horizon of the endowment is perpetuity, and its investment objective is to serve as a vehicle for donors and others to contribute to the continuing achievement of one of life’s most valuable accomplishments: a higher education.
GLOSSARY OF FINANCIAL REPORT TERMS
ENDOWMENT ACCOUNT
Market value as of July 1, 2021: The marketable value of all investments that support the account on the date specified. This figure fluctuates with the financial markets.
Contributions and Additions: New gifts and additions to the account during this time period.
Investment Gains and Losses: The change in value of the account attributed to investment activity.
Transfers to Distribution Account: This amount represents the UBalt Foundation’s distribution rate (currently 4 percent), which has been transferred to the corollary expendable account, therefore shown as a withdrawal indicated by parentheses.
UBF Administrative Fee: The Foundation’s annual endowment fee expenditures, therefore shown as a withdrawal indicated by parentheses.
Market Value as of June 30, 2022: The marketable value of all investments that support the account on the date specified. This figure fluctuates with the financial markets.
DISTRIBUTION ACCOUNT
Balance as of July 1, 2021: The marketable value of funds available for expenditure on the date specified.
Contributions and Additions: Additional contributions received for distribution during the fiscal year.
Transfers from Endowment Account: This amount represents the UBalt Foundation’s distribution rate (currently 4 percent), which has been transferred to the corollary expendable account.
Distributions for Fund Purpose: Expenditures made from the account in the fiscal year, therefore shown as a withdrawal indicated by parentheses.
Balance as of June 30, 2022: The marketable value of funds available for expenditure on the date specified.
During my time at The University of Baltimore School of Law, I learned how to understand and apply the law thoughtfully, ethically and practically. The depth of knowledge and experience demonstrated by my professors was central to how I developed and honed my own skills. This exceptional education was foundational to my success. We are so fortunate that we now have the opportunity to support an institution that provides so many opportunities to others. The M. Gordon and Carolyn Daniels Professorship in Law Fund will ensure that the University continues to enlist the best and brightest in the legal community to offer future generations of students some of the same transformative experiences I had.”
–GORDON G. DANIELS, J.D. ‘86