University of Toledo Foundation

2017 Annual Report

Thank you for making a commitment to The University of Toledo Foundation. Your support is greatly appreciated.

Letter from UTF President & Board Chair

Brenda S. Lee, President

The University of Toledo Foundation

Gary Leidich, 2016-17 Chair

The University of Toledo Foundation

Board of Trustees

Brenda S Lee
Gary Leidich

Dear Alumni, Donors, and Friends,

Success is best achieved through teamwork. The University of Toledo Foundation’s accomplishments are largely a testament to our partnerships with the University and its tremendous community of supporters.

The 2017 fiscal year resulted in the highest level of donor contributions since the University’s last capital campaign nearly a decade ago. Gifts and pledges to the UT Foundation totaled $22.7 million, a 22 percent increase from 2016.

The UT Foundation’s investment performance continued to meet or exceed its benchmarks. Our 2017 one-year investment return was 12.5 percent, compared to a benchmark of 10.9 percent, with a five-year return a healthy 8.6 percent.

Finally, the Foundation’s support to the University totaled $16.8 million, benefiting UT student scholarships, programs, athletics, capital needs, and research.

As we look ahead to 2018, the Board of Trustees and the staff of the UT Foundation remain focused on assisting the University in fulfilling its mission and supporting its priority needs and opportunities, while striving to provide the highest possible level of donor and fund stewardship.

We thank you for your generosity, your engagement, and your partnership.


Brenda Lee Signature

Brenda S. Lee, President

The University of Toledo Foundation

Gary Leidich Signature

Gary Leidich, Chair

The University of Toledo Foundation Board of Trustees

Letter from the UT President

Sharon L. Gaber, Ph.D., President

The University of Toledo

SHaron Gaber

Dear Friends of The University of Toledo:

Throughout the past year, strong collaboration among UT faculty, physicians, staff and students further advanced our five key goals: improving our rankings, increasing enrollment and retention, growing externally funded research, increasing philanthropy and ensuring a UT education remains affordable. Coupled with the generous gifts we received from many of you, Rocket Nation continued on an upward trajectory!

I’m proud to share that earlier this year UT released an economic impact study that demonstrated the University’s community contributions total $3.3 billion annually, which includes a $1.98-billion impact made by faculty and alumni. We also learned each UT job creates another 2.6 jobs in the region, and for every one dollar invested by the state, an additional $10 of economic impact is generated locally. Further, the output of our hospital—The University of Toledo Medical Center—totals $417.6 million. As the second-largest employer in the region, UT’s success is a major economic engine that drives progress in northwest Ohio!

Moreover, UT provides a tremendous opportunity for students. Specifically, the University ranks first in the region (and second in Ohio) for students’ social mobility. UT also ranks among the highest of Ohio’s 14 public research universities for graduates’ income mobility, proving that a UT degree can greatly improve lifelong success. And, nearly 37 percent of our spring 2017 graduates earned an advanced degree, such as a master’s, Ph.D., J.D., or M.D.!

Four major plans we developed over the past two years now serve as our “GPS” for long-term sustainability: A diversity and inclusion plan fosters academic success for students from 46 states and 82 countries; a strategic enrollment plan has already produced a 2.2 percent increase in enrollment for the first time in six years, plus resulted in a 2016-17 fall-to-spring retention rate of 89.2 percent; a multiple-campus master plan will strengthen our academic core and streamline athletics venues; and a recently approved strategic plan is focusing our concentration on specific areas for growth.

While we look for more ways to generate revenue and curtail expenditures — especially given the state’s additional two-year freeze on tuition—I’m confident the progress we’ve made together on so many fronts will continue, thanks in large part to the support of generous donors, alumni and other friends like you whose purpose to make a difference is closely aligned with our mission.

Our success is your success, and so I hope you will share the spotlight with us as UT continues gaining momentum! Thanks for your ongoing support of the University and the tremendous promise it holds for so many.

Go, Rockets!

Sharon Graber Signature

Sharon L. Gaber, Ph.D., President

The University of Toledo

Support & Achievements

Support & Achievements

The Year in Review


Barrys Establish Professorship


Diehn Gift Supports Chemistry


Angelov Passionate for Environment


Year in Review

Looking to the future of The University of Toledo, the UT Board of Trustees adopts four comprehensive organizational plans: A five-year Strategic Plan that will guide UT’s priorities as it approaches its 150th anniversary in 2022; a Strategic Plan for Diversity and Inclusion; a Strategic Enrollment Plan; and a Multiple-Campus Master Plan, outlining proposed evolution of UT’s campuses for the next decade.

A comprehensive study by UT economists shows The University of Toledo’s impact on the region’s economy totals $3.3 billion. UT is the second-largest employer in the Toledo region, and thousands of alumni and faculty remain in the region, contributing to the growth and development of Toledo. For every $1 the State of Ohio invests in UT, $10 of economic impact is generated to the local economy.

The UT women’s basketball team defeats Northern Illinois, 82-71, winning the Mid-American Conference in March at Quicken Loans Arena in Cleveland. The team also finishes 27th in the nation in home attendance, leading the MAC for an unprecedented 27th consecutive season.

Alan and Karen Barry Establish Endowed Professorship in Accounting

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The generosity of two successful UT alumni will provide another boost to helping UT accounting students succeed as leaders in the business world.

A $1 million gift from Alan Barry (Bus ’66) and his wife, Karen A. Barry (UTCTC, ’64) has established The Alan H. and Karen A. Barry Endowed Professorship in Accounting. The endowed professorship will support bridge or pilot research projects, faculty and staff development costs, curriculum development, a fellowship program, and related specialized equipment.

The Barrys have a history of philanthropy at The University of Toledo. In 2014, the University named a new accounting lab in Mr. Barry’s honor. At the time, it was the first lab nationwide to have a certified management accountant (CMA) license, in which students could access free CMA review material from Wiley, a leading provider of educational programs for professionals and students preparing for the CMA exam. The lab’s services include free income tax preparation assistance for qualified, low- to moderate-income individuals and families in the Toledo area.

The couple also endowed the Alan and Karen Barry Scholarship Fund, which provides support for UT accounting students, based on both merit and need.

The Barrys’ interest in supporting the Accounting Department grew out of a nostalgic return to campus.

“I was invited back to the University about 15 or so years ago,” said Mr. Barry, now an active member of UT’s Alumni Association and Blue Key organization, as well as a trustee on the UT Foundation Board. “I hadn’t been on the campus for a long time, and I guess I kind of fell in love with the place for the second time.”

Mr. Barry, a certified public accountant and the retired president and chief operating officer of the Fortune 200 company Masco Corporation, said giving back to UT students is a pleasure for him and his wife, Karen. “The accounting background I got at the University was beneficial to me throughout my career. I’ve always been a supporter of the University, and once I was in a position to do so financially, I felt pretty good about giving back to the University that gave me the opportunity to succeed.”

“UT’s College of Business and Innovation has benefited greatly from the generosity of Alan and Karen Barry through their many gifts, which have supported both the management and accounting departments,” said UT President Sharon L. Gaber.

“Their donations have helped our business faculty prepare UT students to enter the accounting and management professions with the necessary critical-thinking skills and core business principles to succeed as leaders in today’s competitive marketplace," said Dr. Gaber. “This newest gift adds another level of support, ensuring that our students are receiving the best possible education in accounting, and that our faculty have the resources they need to deliver an education of excellence. The University is deeply grateful for Alan and Karen Barry’s generous gift and all that they do to support UT students.”

For more information on supporting UT’s College of Business and Innovation, contact Dan Stong, senior director of development, at or 419-530-5525.

A $1 million gift from Alan and Karen Barry has established an endowed professorship in accounting.

Bodo Diehn Makes Major Gift to Support UT Chemistry Students

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When Dr. Bodo Diehn was 15, a classmate in Germany showed him a textbook on chemistry, a subject he wasn’t scheduled to study until the following year. He had no inkling it would lead him on the path to a multifaceted career and ultimately result in his making a major gift to The University of Toledo.

“At 15, I was a jaded veteran of the usual hobbies,” Dr. Diehn said. “Within six weeks I understood chemistry at the elementary level at which the book presented it, and decided that I had to see these exciting transformations taking place.” He set up a laboratory in his apartment attic and started to make compounds which, to the “consternation and mystification of innocent bystanders and schoolteachers,” included bromoacetone—also known as teargas.

Seeing chemistry as a career with “the appeal of mysteries waiting to be discovered,” he received his undergraduate degree at the University of Hamburg before moving to the United States and eventually receiving his Ph.D. from the University of Kansas.

Joining the faculty of The University of Toledo in 1966, Dr. Diehn rose through the ranks to professor in 1975. An outstanding teacher of chemistry and researcher in the field of biophysical chemistry, he focused on the effect of environmental agents on the visual systems of simple organisms. He was nominated for UT’s Outstanding Teaching Award in 1977 and was named the first Sigma Xi Outstanding Researcher at the University in 1978. In recognition of his achievements, the College of Natural Sciences and Mathematics awarded him the title of Distinguished Scholar of Chemistry and Biochemistry.

His extraordinary career includes serving as director of the Legislative Science Office of the Michigan Legislature, as well as establishing The University of Michigan’s Michigan Research Corporation to assist faculty in bringing their inventions to the marketplace. He also served in several positions in the state of Arizona, specializing in environmental protection and focusing on the control of hazardous materials, risk assessment and management, and regulations.

Yet nearly 40 years after leaving The University of Toledo, his time at UT remains memorable.

“I spent my short academic career, a dozen years only, entirely at The University of Toledo,” he noted. With a concentration on research, he was “stunned” when he was awarded both the Atomic Energy Commission grant in hot-atom chemistry and the National Science Foundation grant for photomovement in microorganisms.

While also teaching at UT in his field of expertise, he decided he should learn more about instructional theory. “I took classes in the College of Education, did six weeks of student teaching at Whitmer High School, and got my secondary teaching certificate,” he said.

Besides his rewarding research and teaching endeavors, he also recalls his time at UT for other professional and personal accomplishments, including becoming a U.S. citizen and beginning his first foray into what he referred to as the “steam-engine era of computing."

Wanting to give back for what his tenure at UT provided him, Dr. Diehn recently created a full scholarship, the Dr. Bodo Diehn Scholarship in Chemistry, for a University of Toledo student majoring in chemistry.

“In my own studies, I had a free ride all the way to my Ph.D.,” he noted, “and I want a UT chemistry student to benefit from the same.” In addition, his scholarship fund will include a $500 monthly stipend for the student’s miscellaneous needs.

“By supporting an outstanding undergraduate,” he said, “I also hope to burnish our institution's and department's name with top-tier universities where the scholarship recipient may go for graduate studies.”

For more details on supporting students or programs in UT’s College of Natural Sciences and Math, contact Nick Butler, director of development, at or 419-530-5413.

Dr. Bodo Diehn recently created a full scholarship for a University of Toledo student majoring in chemistry.

Scholarships Help Jessicca Angelov Jumpstart a Career of Helping the World

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Sometimes, taking a couple steps back is what it takes to move a giant leap forward.

Jessicca Angelov took a six-year hiatus from college before moving back to Toledo to finish her undergraduate degree at UT. Once she returned and was working at the UT Medical Center while pursuing her degree, she encountered health issues that prompted her to leave her job. At the same time, she also began reconsidering her career objectives.

“As a nontraditional student, a clearer picture of my future emerged, and I had the benefit of being more mature and focused,” she said.

Her current interdisciplinary program through University College combines environmental, business (entrepreneurial studies), and religious/philosophical studies. “My degree will include the new sustainability minor offered by the University. I plan to have one foot in academia and one foot in agriculture and environmental sustainability,” she noted. “These are my top passions, and within my holistic view, I see them, as they exist, together.”

The environmental sustainability focus includes her ideas for sustainable business startups and initiatives and plans for mid-scale farming. “I want to help society find a way back to living in a way that considers the generations that follow us as well as the health of our world and humanity,” she said.

Ms. Angelov has already gotten a jumpstart on helping society. She has been actively involved in a lengthy list of campus and community organizations. “All the things I do I see as necessary to build the world I wish to see and to live in a way that encourages others,” she said.

Without income or any family assistance, and wanting to avoid incurring debt, she applied for every scholarship possible while focusing on her studies and her campus and community involvement. Her efforts have paid off through academic achievement (a cumulative 3.9 GPA as she enters her senior year) and aid through several UT scholarships.

Her scholarships through the UT Foundation have included the KeyBank Diamante Scholarship, University Women’s Commission Scholarship, Virginia L. Kline Memorial Scholarship, Elaine and Amos Patterson Scholarship, Dr. Patricia J. Metting Scholarship, and Susan M. Beilstein Scholarship.

“The scholarships I've received throughout my time at The University of Toledo have hugely impacted my life and have assisted me in being able to focus solely on my studies and extracurriculars that complement them. I am extraordinarily grateful to receive, be recognized, and become a part of the communities that provide such great opportunities,” she said.

“God willing,” she added, “I look forward to giving back in the near future."

Jessicca Angelov’s achievements have resulted in several scholarships, including a University Women’s Commission award, presented here by UWC scholarship chair Terri Hayes.

Financial Review

The Year in Review

July 1, 2016 - June 30, 2017

Total UTF Assets $509.5M
Endowment $427.6M
Investments Under Management $466.6M
Total Contributions $22.7M
Total Support Provided to the University$16.8M
Asset Allocation

Note: These highlights contain restated financial information for 2016. Beginning with 2016, assets that the UT Foundation manages for The University of Toledo and the UT Alumni Association are included in the UT Foundation’s financial statements. For additional information, please refer to the UTF audited financial statements for fiscal year 2017, which can be found online at

Mission, Vision, & Values Statements

Mission Statement

The mission of The University of Toledo Foundation is to secure the future for The University of Toledo, through prudent asset management and philanthropy. We build strong linkages between alumni and the University, fostering a spirit of loyalty and opportunity for engagement.

Vision Statement

The University of Toledo Foundation embraces the mission of The University of Toledo by aspiring to be a forward-thinking, philanthropic organization, providing impactful financial support and engagement opportunities for transformation throughout the University community.

Values Statement

The University of Toledo Foundation will be guided by its commitment to:

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More Information

2017 Donor Honor Roll | Give Now | Ways to Give | UTF Board of Trustees | Audited Financial Statements