Board of Trustees elects new vice chair, hears updates on endowment, Leading Together campaign

At its Oct. 4-5 meeting, the Washington University in St. Louis Board of Trustees elected a new vice chair and heard updates on the university’s endowment and Leading Together: The Campaign for Washington University.

Andrew Newman
Newman

Trustee Andrew E. Newman, chairman of Hackett Security Inc., was elected vice chair and chair-elect of the Board of Trustees.

Trustee Eric B. Upin, executive board chair of the Washington University Investment Management Company (WUIMC), and Scott L. Wilson, chief investment officer at WUIMC, presented a report on the university’s endowment.

For the fiscal year that ended June 30, the Washington University endowment generated a 10.9 percent return, increasing the endowment pool to roughly $8.5 billion.

Trustee John F. McDonnell, chair of the board’s development committee, provided an update on Leading Together, which ended June 30 with a record-breaking $3.378 billion in gifts and commitments. The campaign was a major multiyear fundraising initiative that easily surpassed its initial goal of $2.2 billion in funding toward university priorities.

The board also welcomed new trustees and received a report from Chancellor Mark S. Wrighton that included updates on athletics and construction.

In his report, Wrighton noted that Peter Mutharika, president of his native country, the Republic of Malawi, and the Charles Nagel Professor of International and Comparative Law Emeritus at Washington University School of Law, received an honorary doctor of humane letters from the university Sept. 30.

Wrighton also mentioned the Sept. 28 dedication on the Danforth Campus of an Olympic five-ring “Spectacular” just steps from the historic stadium that was the site of the 1904 Olympic Games — and the first Olympiad in the Western Hemisphere.

In his update on the numerous construction projects, Wrighton noted that substantial progress has been made on the redevelopment of the east end of the Danforth Campus. Except for McKelvey Hall, all aspects of the project are slated for material completion by May 10, including the 800-car underground parking garage that should be available for use for the May 17 Commencement.

Work has begun on the green roof over the garage, and glass is now going up on Weil Hall. It is anticipated that new facilities will be occupied over the summer of 2019.

The formal groundbreaking for McKelvey Hall was held Sept. 28. Construction on the additional academic building for the School of Engineering & Applied Science should take about two years.

Wrighton noted that the new bridge over Forest Park Parkway will partially open for foot traffic Monday, Oct. 8, and that January Hall renovations, expected to garner LEED Gold certification, are substantially complete.

On the Medical Campus, the second phase of the Becker Medical Library renovation is now complete, and the 4480 building, which was renovated and expanded, is now complete and occupied. A new Ambulatory Care Center is being planned, in conjunction with BJC, for Forest Park Boulevard just east of the Parkway hotel.

Wrighton recognized the successful start to the athletics program’s fall season, with five teams ranked in the top 15 in NCAA Division III: women’s golf and women’s soccer both at No. 1; women’s cross country at No. 2; men’s cross country at No. 6; and volleyball at No. 11.

The football team is in its first year in the College Conference of Illinois and Wisconsin and has a 3-1 record under head football coach Larry Kindbom,who was just named to the 2018 Allstate Insurance Company and the American Football Coaches Association Good Works Team.

In addition to the chancellor, student representatives to the board provided comments. Presenting were senior Sam Messenger, an economics major in Arts & Sciences with a second major in finance, and Alex Reiter, a PhD student in the School of Engineering & Applied Science.

Trustees also heard reports from the following standing committees: audit, educational policy, global engagement, nominating and governance, university finance and Alumni Board of Governors, and they received a written report from the medical finance committee.

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