2010


FROM THE CHAIRMAN AND PRESIDENT


Scholars Foundation had just completed the most challenging year in its history. Te turmoil in the financial markets had pro- duced a 21% investment loss for the endowment. Tis situation necessitated important but rather dramatic cutbacks in the number of scholarships and fellowships offered by the Foundation.


A G. Moffett Cochran T THIS TIME last year the Jefferson James H. Wright


What a difference a year makes! In 2010, the endowment generated a solid 15.1% return. Development activity produced an additional 10.3 million dollars in cash flow. Te positive portfolio performance allowed us to return to our usual pattern of increasing the number of scholarship recipients in the entering class. We are delighted that the Class of 2014 is 10% larger than the Class of 2013.


Te past fiscal year was also one of significant change. Most noteworthy is the successful completion of the Jefferson Fellows Center and the Foundation’s administrative offices. Te 32,700 square-foot facility became fully operational just in time for the arrival of the 101 finalists in this year’s undergraduate scholarship competition. Te building, which features 38 geothermal wells for ground-source heat pumps, roofs designed to harvest rainwater for irrigation, and high-performance windows to maximize daylight, is on the cutting edge of environmentally sustainable design. It provides Jefferson Fellows with ample space for teaching and research and permits the Foundation to sponsor a variety of activities for the University community that only could be imagined before. Te Foundation also undertook a significant review of its governance structure. Working closely with the U.Va. Alumni Association, which created the Jefferson Scholarship Program three decades ago, the Foundation’s Board of Directors identified several areas, including


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