University of Georgia Foundation

Mission of the UGA Foundation

The University of Georgia Foundation supports scholarships, endowed chairs and professorships, and other programs that rely on private funds to enrich the quality of education at the University of Georgia. With $1.3 billion in assets, more than $1 billion of which is endowed, the foundation provides an average of more than $65 million annually to UGA to advance its mission of teaching, research, and public service.

The UGA Foundation’s Board of Trustees oversees the foundation’s work. Trustees lead and promote fundraising activities, accept and steward donor funds, and manage the foundation’s financial assets for the long-term benefit and enhancement of the University. Trustees also offer broad advice, consultation, and support to University leadership.

This year, the foundation provided more support than ever before in its 81-year history, thanks to multiple years of record-setting fundraising as well as an above-benchmark investment return. The foundation also continued matching gifts to endowed scholarships through the Georgia Commitment Scholarship Program, which has established 260 new need-based scholarships since January 2017.

Kelly Kerner

Kerner, Vice President for Development and Alumni Relations and Executive Director of the UGA Foundation, joined the University of Georgia in June 2014 and remains focused on building a culture of philanthropy. Under his leadership, fundraising has grown exponentially.

Rebecca Caravati

Caravati accounts for the foundation’s more than $225 million annual budget. The majority of this budget is managed and spent in accordance with donors’ intent, and the Board of Trustees directs spending associated with discretionary accounts.

Jason Bull

Bull was hired as the inaugural chief investment officer for the foundation and is responsible for securing a favorable investment return on the foundation’s liquid assets, which have surpassed $1 billion.

Investing in the Future of UGA

An endowment is an investment in the future of the University of Georgia and a way for a donor to leave a permanent legacy. When an endowment is established with a new donation, the gift is invested with two goals in mind: to provide spendable income for the donor’s specified purpose and to grow the principal faster than inflation. Any investment return over allowed spending is channeled back into the fund to increase growth.

Foundation’s Investment Portfolio Allocation

Asset Class	June 30 Allocation	Asset Characteristics
Publicly Traded Equities	48.4%	Capital appreciation, global diversification, highly liquid
Fixed Income	11.7%	Capital preservation and income, highly liquid
Private Equity	5.5%	High return potential, illiquid
Hedge Funds	18.5%	Moderate return potential with reduced volatility
Real Assets	15.9%	Inflation hedge and income generation

* The Foundation’s fiscal year ended June 30. Returns greater than 1‑year have been annualized.

Fiscal Year 2018 UGA Foundation Board of Trustees

Officers

Chair
William W. Douglas III
Retired, Coca-Cola Enterprises, Inc.
Bishop, GA

Vice-Chair
John H. Crawford IV
Crawford Investment Counsel, Inc.
Atlanta, GA

Treasurer
Stephen M. Joiner
Treatment Management Company
Atlanta, GA

Secretary
Steve C. Jones
U.S. District Judge
Atlanta, GA

Elected Trustees

Daniel P. Amos
Aflac Incorporated
Columbus, GA

Kathryn L. Ash
Kathryn Ash Interiors
Charlotte, NC

Allison C. Ausband
Delta Air Lines
Atlanta, GA

Eleanor F. Banister
Retired Partner, King & Spalding, LLC
Atlanta, GA

David M. Battle Jr.
Battle Investment Group
Atlanta, GA

Michael J. Boudens
Wellington Management Company
Newton, MA

Garry W. Bridgeman
Grayson Consulting, a business of Morgan Stanley
Atlanta, GA

Christopher W. Brown
Brown|Miller Wealth Management, Group of Wells Fargo Advisors
Washington, DC

Elizabeth W. Camp
DF Management, Inc.
Atlanta, GA

Mark B. Chandler, Sr.
Habersham Properties, Inc.
Atlanta, GA

James W. Childs
Bowstring Advisors
Atlanta, GA

Alston D. Correll, Jr.
Correll Family Foundation
Atlanta, GA

Victor E. Corrigan II
Piedmont Heart Institute
Atlanta, GA

Richard W. Courts IV
Atlantic Realty Company
Atlanta, GA

Hillel A. Feinberg
Hilltop Securities, Inc.
Dallas, TX

Jennifer D. Flanagan
Atlanta, GA

Frank D. Foley III
The Concrete Company
Columbus, GA

Samuel D. Holmes
CB Richard Ellis
Atlanta, GA

Kenneth G. Jackson
Shaw Industries Group, Inc.
Dalton, GA

Emily Dunlap Lawson
Retired, Gainesville Mayor and City Council
Gainesville, GA

Russell C. Lindner
The Forge Company
Washington, DC

John F. Mangan Jr.
JFM Capital, LLC
Charlotte, NC

Ted McMullan
Covington Investments, LLC
Atlanta, GA

C. Read Morton, Jr.
Centennial Holding Company, LLC
Atlanta, GA

John S. Neel Jr.
The Sanford Company
Macon, GA

John R. Parker, Jr.
Retired, Coca-Cola Enterprises, Inc.
Athens, GA

Thomas H. Paris III
Taylor English Decisions, LLC
Atlanta, GA

Neal J. Quirk
Quirk & Quirk, LLC
Atlanta, GA

Stanley W. Shelton
Windham Capital Management, LLC
Wayland, MD

Stephen W. Smith
Peachtree Orthopedic Clinic
Atlanta, GA

Robert H. Stolz
Sunbury Capital, LLC
Charlotte, NC

Barry L. Storey
BLS Holdings Group, LLC
Augusta, GA

Larry D. Thompson
Counsel, Finch McCrannie, LLP
Sea Island, GA

Susan C. Waltman
Greater New York Hospital Association
Pelham, NY

William D. Young Jr.
General Wholesale Company
Atlanta, GA

Advisory Trustees

Charles E. Knox
Raymond James & Associates
Atlanta, GA

Ex-Officio, Voting Trustees

Jere W. Morehead
President, University of Georgia
Athens, GA

Scott D. Pegan
Chair, Executive Committee of University Council, University of Georgia
Athens, GA

Bonney S. Shuman
President,, Retired, Stratix Corporation, Alumni Association
St. Simons Island, GA

Ex-Officio, Non-voting Trustees

Cameron Keen
President, Student Government Association, University of Georgia
Athens, GA

Kelly Kerner
Vice President, Development and Alumni Relations and Executive Director of the UGA Foundation, University of Georgia
Athens, GA

John Michael Lewis
President, Staff Council, University of Georgia
Athens, GA

Ryan A. Nesbit
Vice President, Finance and Administration, University of Georgia
Athens, GA

Pamela S. Whitten
Senior Vice President, Academic Affairs and Provost, University of Georgia
Athens, GA

Strategic Plan

To further advance the mission of the foundation, the board has focused this year on implementing its newly adopted strategic plan, which comprises four goals:

Enhancing the culture of philanthropy,
Utilizing the full talent of each trustee,
Developing an optimal committee structure, and
Evaluating endowment management models to ensure excellent management of the investment portfolio.

Work has been done to address each goal, and the board has completed its goal of developing an optimal committee structure. The new structure, which was unanimously approved, will maximize trustee engagement, enable more advocacy, and ultimately improve the lives of the students they seek to support.

Leading by Example

The foundation matched donations to the Georgia Commitment Scholarship Program to help donors create 260 new need-based scholarships. Leading by example, more than 50 percent of trustees have established Georgia Commitment Scholarships.