
This is the first part of a new three-part series exploring the influence of UVA President Ryanโs Strategic Investment Fund.
by James A. Bacon
Back in December, University of Virginia President Jim Ryan unveiled a major philanthropic gift at the Board of Visitors meeting: Board member John L. Nau III had committed to donating $20 million to fund fellowships for College of Arts & Sciences graduate students. The sum, Ryan added, would be matched by $10 million from the Universityโs Strategic Investment Fund (SIF). The combined $30 million impact, he said, would support 30 to 35 grad students per year. Fellow board members gave Nau a round of applause.
The SIF, which is throwing off roughly $65 million a year that the University can spend any way it wants, is UVAโs secret fundraising weapon. It has helped UVA surpass its $5 billion โHonor the Futureโ campaign 18 months ahead of schedule. With matching dollars from SIF, Ryan reeled in mega-donations such as a $50 million gift creating the Karsh Institute of Democracy and a $100 million donation launching the Manning Biotech Institute. Few public universities have anything to compare.
Ironically, during the same meeting in which they lauded Nau for his generosity, some UVA board members made it clear they wanted to exercise tighter control over the SIF. They didnโt take issue with any of Ryanโs decisions on how to spend the income. Indeed, board member Doug Wetmore described the program as โvery successful,โ and he said the overwhelming majority of the administrationโs proposals likely would meet board approval. But the board would be failing to exercise its financial duty, he said, if it neglected to review spending of such magnitude.
What went unsaid during the board meeting is that he who controls the SIF controls the strategic direction of the University of Virginia.
(more…)












