2018 Annual Report

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Letter from UTF President & Board Chair

Dear Friends of The University of Toledo,

Your single gift makes a difference in someone’s life. Through a wide community of support, we can pave the way—together—to change the world.

Your partnership and generosity over the past year have helped ensure that UT students, faculty, physicians, and staff will thrive and contribute to positive change in the Toledo area and beyond. You’ve provided the means for the success of students and student athletes, outstanding programs, transformative research, life-changing service within the community, and state-of-the-art medical care.

Your extraordinary generosity in the 2018 fiscal year—along with prudent asset management by the UT Foundation’s volunteer board of trustees—resulted in numerous milestones.

This past year, we witnessed UT’s highest ever level of giving: with $50.9 million in contributions. We also received the largest gift in UT’s history, thanks to a gift of real estate valued at $30 million from Welltower, Inc. Through our first annual Day of Giving, you helped raise nearly $454,000 in just 36 hours. More than 600 of those 1,600 gifts came from first-time donors.

Your support was buoyed through UT Foundation investments, which realized a return of 7.3%. The ultimate result was $18.3 million in support distributed to the University, benefiting a wide number of opportunities and needs, including $4.8 million in student aid.

Our mission continues to be engaging UT alumni and friends and supporting the goals of the University. As we look ahead to serving UT and the greater community, we appreciate your essential role in our success.

Thank you for your ongoing commitment and support.


Brenda S. Lee Signature

Brenda S. Lee, President

The University of Toledo Foundation

Constance D. Zouhary Signature

Connie D. Zouhary, Chair

The University of Toledo Foundation Board of Trustees

Brenda S. Lee, President, The University of Toledo Foundation Constance D. Zouhary, Chair, The University of Toledo Foundation Board of Trustees

Brenda S. Lee, President

The University of Toledo Foundation

Constance D. Zouhary, Chair

The University of Toledo Foundation Board of Trustees


Dear Friends:

It was an outstanding year for The University of Toledo, and our partnerships with the UT Foundation and each of YOU made that possible!

You have continued to open the door to opportunities and achievements for UT students. Our spring commencement included nearly 3,100 graduates, many of whom would not have accomplished that milestone without your support. In fact, 86 percent of all UT students need—and receive—scholarships and grants to attend UT. Last year, the UT Foundation provided $4.8 million to assist nearly 2,200 students. Your gifts made this possible.

You’ve positioned UT to take a leadership role in tackling some of the most challenging societal and medical issues of our times. These include research and programs focusing on human trafficking, opioid addiction, water quality in the Great Lakes and beyond, and diseases such as cancer and kidney disease.

Finally, your generosity has resulted in ripple effects throughout the community. UT has a $3.3 billion economic impact on our region’s economy. Every philanthropic dollar invested at UT results in $2.40 being returned to our community in terms of economic impact. Therefore, not only do your donations benefit the UT programs and purposes you’ve designated, they also provide an investment in our community.

We are witnessing a tremendous surge of Rocket pride. We see it here on campus, throughout the region, and in places around the world where our alumni and friends live, prosper and play significant roles within their professions and communities.

We have accomplished much, but we have so much more to do. With your generous support, we will continue to fulfill our shared mission and change lives every day.

With appreciation,

Sharon L. Gaber, Ph.D., President, The University of Toledo

Sharon L. Gaber, Ph.D., President

The University of Toledo

Sharon L. Gaber, Ph.D., President, The University of Toledo

Sharon L. Gaber, Ph.D., President

The University of Toledo

Your Gifts at Work

2018 Year in Review Highlights

Student Graduation and Retention Rates Highest in Decades

The highest number of students in at least 20 years walked across the stage at UT’s 2018 spring commencement. The year also marked the fifth consecutive increase in first-to-second year student retention—the highest rate in at least two decades. The continuing spikes in retention and graduation are a result of a number of UT academic initiatives, as well as an increase in scholarships and student aid. The generous support of UT donors last year resulted in $4.8 million in student aid.

Student receiving degree at The University of Toledo commencement

UT Receives Largest Gift

UT received its largest gift in history, when Welltower Inc. donated its state-of-the-art office buildings and other Dorr Street real estate valued at $30 million. Several University offices and departments, including the Division of Advancement, will relocate to the additional campus this winter, and other potential uses for the 100-acre site are still being studied.

Welltower building

Rocket Athletics Teams Clinch Championships

Rocket Nation celebrated several athletic successes on the court and field, including two Mid-American championships. The Rockets football team, led by MAC Coach of the Year Jason Candle, finished the season with an 11-3 overall and 7-1 division record, going on to win the MAC title. The UT women’s soccer team, under coach TJ Buchholz, defeated rival Bowling Green State University, to become the 2017 MAC champions.

Football action photo shot at MAC championship game.  UT Women’s soccer team photo celebrating MAC championship.

Newly Launched Day of Giving Soars to Success

UT supporters showed their tremendous Rocket Pride during the University’s first annual Day of Giving. The 36-hour campaign, “Rocket Forward: You Launch Lives,” was held from midnight Oct. 12 to noon Oct. 13, in conjunction with UT’s Founders Day. More than 1,600 alumni, faculty, staff, students, parents, and friends — including 658 first-time donors — helped UT surpass its goal in contributions, raising $453,837.

Rocket Forward – You Launch Lives graphic

UT Researcher’s Education and Training Come Full Circle

While working toward a bachelor’s degree in biology at The University of Toledo, Steven Haller volunteered as a research assistant in UT’s Division of Cardiovascular Medicine. It didn’t take him long to discover his passion.

“This experience provided an exceptional foundation for a career as a biomedical scientist,” noted Dr. Haller, UT assistant professor of cardiovascular medicine. “I discovered first-hand how we can take an important clinical problem back to a laboratory setting and design a strategy to uncover new aspects of a disease process and develop potential therapies.”

Following his undergraduate education, the Swanton native chose to remain at UT to continue his studies. “I learned early on that I did not need to go far to find experts and outstanding mentors in both clinical and basic science research,” he said. After receiving a bachelor’s degree in 2003, he earned a master’s in molecular basis of disease in 2005 and a doctorate in biomedical sciences in 2012.

Dr. Haller’s education and career came full circle when he joined the faculty in UT’s Department of Medicine. Giving back to the Toledo community through research and teaching has been gratifying, and his interaction with students is especially rewarding. “It is remarkable to watch a student grow from little experience to designing their own experimental plan and giving me new avenues of a disease to investigate,” he said.

His current research focuses on new treatments for kidney disease, which affects nearly 14 percent of the adult population in the United States and leads to more deaths than breast or prostate cancer. His ultimate goals are to discover biomarkers that will help indicate early progression of the disease and to provide a therapy to halt it, eliminating the need for dialysis or transplants.

Dr. Haller’s work has garnered tremendous interest, resulting in a recent $50,000 grant from UT’s Medical Research Society and $450,000 in grant support from the Ohio Department of Higher Education.

“Often, we have potentially groundbreaking projects that could significantly enhance our understanding of a disease process and aid in the discovery of new therapies,” said Dr. Haller. “Unfortunately, we often do not have sufficient funds to push these projects forward.”

Financial contributions and grants “fill a fundamental need by providing the support to generate essential data, which also can be used to obtain additional funding,” he said. “I am extremely grateful for all support.”

To help fund Dr. Haller’s research in kidney disease, or to support other areas of UT biomedical research, contact Jennifer Schaefer at or 419.383.5071.

Dr. Steven Haller doing research in his lab.

Dr. Steven Haller’s research has garnered tremendous interest, resulting in a recent $50,000 grant from UT’s Medical Research Society and $450,000 in grant support from the Ohio Department of Higher Education.

Tom Moor Provides for Family and UT through Planned Gift

Supporting UT was an easy decision for Tom Moor (Bus ‘64), whose family has long roots in Toledo and an affinity to UT. “My grandfather, William Frey, moved here to start a business in about 1910,” said Mr. Moor. “He started a family tradition of giving to UT with his establishment of the William B. Frey Scholarship Fund, upon his passing in 1958.”

Mr. Moor received a bachelor’s degree in engineering from The University of Michigan and began his career at the Design Center of the Libbey Division of Owens Illinois. However, he soon decided he wanted to explore other opportunities. He enrolled in UT’s College of Business, concentrating in finance and accounting.

“Dr. Hubert Frisinger, whom I much admired, was my mentor,” said Mr. Moor. “Together, we started the UT Finance Club, inviting speakers from businesses in the area to give talks in their field of specialty. They were a big hit and well attended by those in the business school.”

Upon graduation, he accepted a position in the tax department of Owens-Corning Fiberglas in Toledo—a field he enjoyed for the remainder of his career. “During my tenure at OCF, we lived across from the University, and I have fond memories of the campus tower and buildings,” he said. Subsequent positions in other companies led him to Asheville, N.C.; Boston; and finally, Florida. He and his wife, Jacqueline (Munella) Moor currently live in Indian Harbour Beach.

Although his career took him many miles away, UT remained close to his heart. “There is so much to be gained through the experiences of college and the opportunities that an education can afford,” he said. “You make lifelong friends and become focused on the future.”

After retiring in 2006, he discussed his estate plans with his attorney. “He suggested a Qualified Charitable Trust (QCT),” said Mr. Moor.

“Upon Mr. Moor’s death, a portion of his IRA will be distributed to a new charitable remainder trust (CRT),” explains Kirk Ross, UT director of planned giving. “The tax consequences of that IRA distribution will defer, or possibly eliminate, payment of any tax due for many years.”

For the next several years, the CRT will provide a reliable source of income to several members of Mr. Moor’s family. When the CRT term has passed, remaining assets will pass to the UT Foundation to support the Thomas R. Moor Endowed Scholarship Fund, a renewable scholarship for deserving Lucas County residents.

“Tom Moor has elected to combine a couple of different giving vehicles in a skillful way that will provide for both his family and his alma mater in a uniquely tax-efficient manner,” said Mr. Ross. “We are grateful for his generosity and foresight.”

“UT is a great institution,” said Mr. Moor, “and Toledo has a fundamentally hard-working and ethnically diverse population. I wanted to give back to those who may not otherwise be able to afford a college degree.”

For more information about how planned giving opportunities can benefit both you and The University of Toledo, contact Kirk Ross at or 419.530.5410.

Tom Moor and his wife, Jacqueline

Although he and his wife, Jacqueline, live in Florida, Tom Moor chose to give back to the Toledo community and UT through a planned gift.

UT’s Opioid Task Force Battles Epidemic

The statistics are staggering: An estimated 11.5 million people misuse prescription opioids. In 2016, 116 people in the U.S. died every day from heroin and other opioid drug overdoses. It’s a crisis that hits close to home for far too many people, and one that the new UT Opioid Task Force hopes to help overcome through research, prevention, education, outreach, and collaborative community partnerships.

UT President Dr. Sharon Gaber originated the Task Force in November 2017, according to co-chair Dr. Amy Thompson, professor of Public Health and interim associate vice provost for Faculty Affairs. “Our collective efforts are a result of Dr. Gaber’s concerns and vision,” Dr. Thompson noted. “She sees UT as a driving force in education and health care and as an important partner and resource in preventing and battling this public health epidemic.”

Overall goals include:

  • Identifying and coordinating research, education, and community service of UT faculty and students
  • Meeting with community and government leaders to further strong academic-community partnerships that address the myriad of problems related to this epidemic
  • Identifying funding sources and promoting collaborative partnerships at all levels

Recent efforts include hosting an Opioid Summit in April, where regional and state leaders met with UT faculty and community partners. The Task Force also recently partnered with the Lucas County Health Department to offer training for administering Narcan—a drug that reverses opioid overdoses—in a workshop attended by about 200 UT faculty, staff, and students.

“Since our staff, faculty, and many of our students live throughout our region, this training is a way of allowing them to carry our work out into the community,” noted co-chair Dr. Linda Lewandowski, dean of the College of Nursing. “We are currently seeking funding to allow us to extend the training at UT and in the greater community.”

One ongoing project is funded by the Cardinal Health Foundation and led by Dr. Marilynne Wood, professor in the College of Nursing. Piloted in UT’s National Youth Sports Program, the project will be presented this year to 600 fifth- through eighth-grade students at five Toledo Public Schools.

“We focus on the appropriate use and storage of prescription and over-the-counter drugs, the dangers of street drugs, and strategies to resist peer pressure,” said Dr. Lewandowski. Programs will also be included for teachers, counselors, family members, and others who deal closely with the children.

“UT’s partnerships in the community are an opportunity for everyone to get involved and make a difference,” said Dr. Thompson. “These collaborations also provide important ‘real world’ learning experiences for our students.”

Through financial support, the Task Force hopes to provide pilot funding for collaborative research projects in this area and increased regional education across age groups, she added. “Ultimately, we hope to significantly impact prevention and treatment for this widespread public health epidemic.”

To support the work of the UT Opioid Task Force, contact Rachel Zimmerman at or 419.530.5420.

school age children participating in UT’s Opioid’s Task Force program

UT’s Opioid Task Force programs include a school-age project focusing on the appropriate use and storage of prescription and over-the-counter drugs, the dangers of street drugs, and strategies to resist peer pressure.

Hana Schnipke Gains Special Appreciation for Scholarships

When enrolling at UT, Hana Schnipke had one primary objective: to receive a quality college education. Now entering her senior year as an accounting major in the College of Business and Innovation, she is well on her way to her ultimate goal of becoming a certified public accountant.

Like many college students, Ms. Schnipke also wanted her experience to transcend the classroom. Becoming involved in several campus activities has enhanced her time at UT. “All of these organizations have given me the opportunity to experience campus from every corner,” she said.

One campus activity has been particularly rewarding: Ms. Schnipke works as a student caller for UT’s Phonathon program.

Phonathon employs 35-40 students each year to telephone alumni and friends in order to raise funds for UT colleges, programs, needs, and opportunities. Last year, student callers raised $158,000 in gifts and pledges through the generosity of nearly 1,900 donors.

“When my friend told me about Phonathon, I thought it could be a good job for my spare time. Phonathon has become more than that,” Ms. Schnipke said. “It gives me a chance and reason to network and bond with alumni over the phone and out on the street.”

Engaging with UT donors has an especially meaningful impact for the Miller City, Ohio native. She is a three-year recipient of the Kinsey Determination Scholarship, created by Edward Kinsey (Bus ‘79) and the Kinsey Foundation.

“School takes up so much of your time—from the papers, the studying, the homework, and the more studying—that it is amazing we find time for jobs and organizations,” Ms. Schnipke said. “Being a recipient of this incredible scholarship has given me the chance to make time for the extra prep or to be a leader in an organization, rather than stress about how I am going to pay for my education.”

The Kinsey Scholarship is designated for UT business students without a father present in their life. Ms. Schnipke noted that being awarded the scholarship has not only lifted the weight off of her shoulders but also off her mother’s. “I also have had the chance to mingle with fellow Kinsey recipients, which has given me the chance to see there are other people on campus who are going through similar circumstances,” she added.

“As a scholarship recipient, I have so much respect for any and every donor,” said Ms. Schnipke. “There are so many wonderful alumni donors, and I look forward to becoming one in the near future.”

To support UT scholarships, visit or call 419.530.7730.

Phonathon employee Hana Schnipk

Being a UT Phonathon employee has provided Hana Schnipke an opportunity to network and bond with alumni, as well as a special appreciation for the scholarships she has received.

Financial Review


Assets 2009-2018

Asset for 2009-2018 bar chart

Asset Allocation

Allocation of UT Foundation assets pie chart

Annualized Investment Performance June 30, 2018

Annualized Investment Performance June 30, 2018 Bar Chart


Designation of Fund Balances

Designation of Fund Balances Pie Chart

Contributions 2009-2018

Contributions 2009-2018 bar chart

UT Support

Foundation Support Provided to UT 2009-2018

Foundation Support Provided to UT 2009-2018 bar chart

Designation of Support to UT – 2018

Designation of Support to UT – 2018 pie chart

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 2018, which can be found online at

Your Gift—Your Way

Why Support UT

Do you want to help The University of Toledo make a difference? By supporting the causes you care about, you're paying back by paying it forward. You're helping to make UT the best it can be for students, patients, and the entire UT community.

Gifts to the UT Annual Fund or the UT Foundation General Scholarship Fund help UT take advantage of special opportunities and meet priority needs.

Or you can tailor your gift to reflect your interests. Make your contribution toward a specific academic college, department, program, or center. Designate it for UT Athletics or the UT Medical Center. Give to assist scholarships, research, or your favorite student organization.

How to Support UT

Online Gifts: Make your gift by credit card at

Checks: Checks should be made payable to: The University of Toledo Foundation, P.O. Box 586, Toledo, OH 43697-0586

Pledges: To make a pledge payable over several years, call us at 419.530.7730 or make your pledge online:

Matching Gifts: Employer matches can double your gift’s value!

Securities: Gifts of stocks and bonds can provide financial benefits to donors while supporting UT. For details, contact us at 419.530.7730.

Planned or deferred gifts: For information about giving through wills, trusts, life insurance, IRAs, and real estate, contact Kirk Ross at 419.530.5410 or visit

However you choose to support UT, we thank you!

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