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Vol. 4, Issue 1 Winter 2008/2009
INSIDE . . .
New Roberts
Leadership
Scholars Program
Horse Pasture Named
for “Sarge” Hudson
Foster, Waterfield
Family Gifts Benefit
Woodcraft Camp
By Example
Campaign
Executive Committee Batten’s Leadership Challenge for Culver Has
Miles D. White ’73 the Potential to Increase Endowment by $100 Million
Campaign Chair
Chairman and CEO, Abbott
Abbott Park, Illinois During the last week of October, Jane and Frank Batten Sr. CMA ’45 had stunning – but extremely good – news for the leader-
ship of the By Example Campaign. First, Frank announced his intention to make an outright contribution of $20 million to Culver
Craig J. Duchossois ’62 to provide additional compensation and benefits for outstanding faculty members chosen to serve as mentors to younger faculty.
CEO, Duchossois Industries, Inc. Second, he offered the school a challenge to grow its endowment – a $50 million challenge, to be exact, that could result in Culver’s
Elmhurst, Illinois endowment growing by as much as $100 million.
Jane D. Eberly ’73 The Batten Leadership Challenge is very straightforward, said Head of Schools John Buxton. For every single dollar Culver
Past President, raises through new donations to the school’s endowment by Jan. 31, 2010, the Battens will match it, dollar for dollar. “For exam-
The Culver Legion ple, if you give $5,000 to Culver’s endowment, the Battens will match it. If you give $10,000 to the endowment, the Battens will
Lake Forest, Illinois match it. Indeed, if you give $100,000 or $1,000,000 to Culver’s endowment, the Battens will match it,” Buxton said.
Paul C. Gignilliat ’49 “This is an unparalleled opportunity for Culver Academies,” said Miles White, chairman of the By Example Campaign. “If
Senior Vice President Culver’s alumni and friends respond to the Batten Leadership Challenge and contribute $50 million in new gifts to the endow-
UBS Financial Services, Inc. ment, the end result is that Culver’s endowment will grow by $100 million and Culver’s total endowment will be approaching
Chicago, Illinois $300 million.”
Ex-Officio: “This is truly a ‘win-win’ situation for Culver. Not only did Frank and Jane Batten give an immediate gift of $20 million to
John N. Buxton Culver’s endowment, they promised up to $50 million in matching funds for endowment gifts of $5,000 or more made by
Head of Schools January 31, 2010,” White said.
James A. Henderson ’52 According to Jim Henderson, chairman of the board of The Culver Educational Foundation, “Frank Batten has been
Chairman, Board of Trustees concerned about the state of Culver’s endowment, and it is his belief that the school needs to emphasize the importance of
Retired Chairman, Cummins, Inc. growing it now. He is hoping his challenge is just the spark needed to propel the By Example Campaign for Culver to the next
Columbus, Indiana level.
continued on page 3
Tough Economy Underscores Importance of Building Endowment
By Miles D. White ’73, Campaign Chair such as Culver. The other purpose of an endowment is to provide protection
against a financial downturn or, as happened this fall, the upheaval of a flail-
• Can you imagine what might have happened to Culver as a result of the ing economy.
financial crisis that rocked the globe this fall?
Fortunately, the careful investment strategies approved by our Investment
• What if Culver had not already achieved a great measure of success with the Committee and executed by our investment managers on behalf of Culver worked.
By Example Campaign? Investment and diversification strategies designed to protect our endowment did
just that, as the value of Culver’s endowment fell only slightly compared to the
• What if our Investment Committee had not taken pains to create and execute a dramatic losses we all read or heard about in the media. Still, we have a lot of work
careful investment strategy to grow and protect Culver’s growing to do to fully secure Culver’s financial position. The job won’t be easy, but the
endowment by emphasizing low volatility and diversification in our Battens have certainly made it more exciting. We are extremely grateful to
investment portfolio? Frank and Jane Batten for the truly remarkable opportunity the Batten Leader-
ship Challenge presents Culver to grow its endowment more rapidly through
their commitment to match gifts to the endowment made or fulfilled before
• What if we had committed to major campus building projects before we had
Jan. 31, 2010.
the funds in place?
The primary purpose of the By Example Campaign is to grow both our
Truthfully, I don’t even want to think about the answers to those questions.
endowment and our Annual Fund. By building our endowment to over $300
The answers may well have presented a set of problems we might not have
million, Culver will significantly reduce the need to draw as high a percent-
been able to solve.
age from our endowment to pay for day-to-day needs and be well positioned
financially to withstand the adversities and uncertainties that are sure to come.
In the face of an economic crisis of immense scope, our people, our coun- Culver will always need an Annual Fund. Please remember every dollar do-
try, and our economy experienced a very severe jolt in the fall of 2008. Major nated to the Annual Fund is one less dollar that will never have to be taken
banks and financial institutions faltered, and some of the biggest names and from the endowment!
best-known brands in business faced uncertain futures.
We owe our entire Culver family – trustees, alumni, parents, faculty, staff,
The truth is that the global financial crisis underlined more than ever the and friends – so much for the devotion and energy that has made the By
importance of growing and protecting Culver’s endowment. Endowments Example Campaign a success. Please continue to support the By Example
exist to provide predictable and reliable financial support for institutions Campaign through your gifts to the Annual Fund and/or the endowment.
I promise you we will be vigilant to make sure your gift has a lasting impact
on Culver.
An Important Perspective on Culver’s Endowment
By John N. Buxton, Head of Schools
This is the reason Culver mounted a capital campaign in 2003. We have never
Any statistics on Culver’s Endowment Funds need and deserve an asterisk. had enough endowment to maintain Culver’s programming with only a 5 percent
Culver enjoyed a decade and a half of positive returns in the late 1980s and draw from endowment. We have continually had to rob Peter to pay Paul, as it
throughout most of the 1990s. The investment environment changed dramati- were. Fortunately, we are close to finding that balance between cost and financial
cally at the turn of the new century with the bursting of the “tech bubble” and capacity. Strong annual funds and success in securing significant funding for
the subsequent outbreak of the Global War on Terror. Culver experienced the endowments are helping. Still, we cannot undo decisions of the past.
double whammy of a small endowment in a challenging environment and high
expenses to run quality programs. Since 2000, Culver has experienced only
one year when the draw on endowment didn’t equal or surpass the combined The best news is that those decisions to spend and build have brought us to new
gains from investments and new gifts to the school. heights as a school and we are enjoying the success Culver has always deserved.
We certainly appreciate your understanding and your ongoing commitment
to Culver.
We had a decision to make when we began to lose significantly in the
endowment and used the earnings from the previous 15 years. We could not
invade the corpus of the funds, so we doubled up on the percentage we would Now, thanks to the generosity of Frank and Jane Batten, we have a wonderful
take from those funds with positive earnings. By following that strategy, we opportunity before us to put this school in a much stronger position financially.
could make use of the endowments, build the Academies’ programs, and still The Battens recently made an outright gift of $20 million to our faculty endow-
protect the corpuses of all funds. ment fund. As if that wasn’t enough, the Battens presented us with a $50 million
challenge to encourage Culver’s alumni, parents, and friends to help grow the
school’s endowment as rapidly as possible over the next 14 months. We hope you
As an example, a fund with $50,000 might have had $10,000 of attached will continue to support our Annual Fund, which will always be important to
earnings after 15 years of positive returns, even though Culver might have Culver. But if it is within your means, we hope you will also to make a new gift
been drawing at 8 percent. When the markets collapsed, Culver continued to to our endowment fund to take advantage of the Batten Leadership Challenge
draw that 8 percent or more to continue the good work that the gift allowed matching gift program, which will match your generosity dollar-for-dollar, in
Culver to do. Now 10 years after the fact, the fund is back to its original gift effect doubling your donation.
amount, but we have had 10 years of important support.
Page 2 | By Example Newsletter
Foster Family Waterfields Benefit Woodcraft
Furthers the Thanks to the generosity of the Richard D. Waterfield family – Dick Waterfield
N’59 and sons Dick Waterfield W’85 and Randy Waterfield W’86 – future genera-
Culver Learning tions of Woodcrafters will continue to learn about Native American cultures and
traditions, and discover the magic of Indian Dance at the Council Fire. Recent
Experience restoration and improvements of the Council Fire Ring included preservation of
the Council Rock, upgrading of ring seating, new parking, a new totem pole, and a
Louesa and Richard W. “Dick” Foster ’61 railed path along the original path to the Council Ring. Further work on the Council
believe in Culver’s mission of educating
Rock and backstage areas will commence in the spring of 2009. The Waterfields
the leaders of tomorrow. Dick has served as
president of The Culver Legion and of the also provided an endowment for future renovations of the ring and enhancements
Central Ohio Culver Club. Through their to the overall program. Their gift was in honor of Maj. Zimmerman and his 57
generosity to the Annual Fund, the estab- years of service on the Woodcraft staff.
lishment of the Foster Family Woodcraft
Scholarship, sponsoring the renovation of a Woodcraft cabin, and additional gifts
over the years, they help to ensure that students and campers have the opportunity
to build their leadership and learning skills at Culver.
The purpose of the Foster Family Woodcraft Scholarship is to provide merit
scholarships for outstanding boys and girls in the Beaver and Cardinal age level
in their pursuit of excellence at Culver’s Woodcraft Camp and to expose them to
the potential of continuing their Culver experience by matriculation at Culver
Academies.
According to Dick Foster, “There is no better way to introduce boys and girls
to Culver than through the Woodcraft Camp. The Woodcraft Camp experience
is the building block that equips a young person for successful matriculation at
Culver Academies.”
Foster, as well as his children Ted W’89 and Kiley W’86, SS’89, graduated from
Woodcraft. The family understands that the Woodcraft experience helps campers
develop into self-confident and capable leaders, as well as knowledgeable and in-
volved citizens. Through the Foster Family’s gifts, Culver can continue providing Left to right, Dick Waterfield Jr., Chief Zimmerman, Randy Waterfield, and Dick Waterfield Sr.
the Culver experience to others.
Batten’s Leadership Challenge (continued) as publisher, The Virginian-Pilot newspaper received a Pulitzer Prize in 1960 for
articles championing desegregation. The Virginian-Pilot and The Ledger-Star in
“Another way Frank is driving home the importance of putting cash into Norfolk, Va., were the foundation of Landmark Communications, the privately-
the endowment now is his offer to increase the value of existing pledges to the held media company that he grew by acquiring additional newspapers, radio
campaign by matching 50 cents to every dollar already pledged to the campaign stations, and television stations, as well as by founding The Weather Channel,
that is paid by Jan. 31, 2010. For example, if you have already pledged $5,000 the 24-hour cable weather station launched in 1982. He also served as chairman
to the endowment and send Culver your check to fulfill the pledge by Jan. 31, of the Associated Press from 1982 to 1987.
2010, Mr. Batten will add $2,500 to the endowment,” Henderson said.
Jane and Frank Batten have given generously to schools and institutions,
According to Culver officials, donors can still direct their contribution including $32 million to the Harvard Business School, $60 million to the
to any of the school’s existing endowment funds – such as teaching and learning, Darden Graduate School of Business in Virginia, and $100 million to the
student financial aid, athletics, or horsemanship – and the funds will University of Virginia, the largest gift in the school’s history, to establish the
be matched. Frank Batten School of Leadership and Public Policy.
Batten Fellows Program Just Giving Back
Frank Batten has already donated $20 million to fund the Batten Fellows When he announced the extraordinary Batten gifts at a special meeting of
Program. Through this gift, funds will be available to recognize superior faculty faculty and staff on Election Day, Head of Schools John Buxton said that
performance by providing additional compensation and other benefits, such as a Batten’s humble response was that he wasn’t being generous. “I’m just giving
sabbatical every three years to a select number of senior faculty members. back,” Batten said. “I don’t consider it generosity. I consider it payback.”
Instructors recognized as Batten Fellows will be chosen to serve as mentors to
younger faculty at Culver. – Bob Quakenbush, Campaign Communications Coordinator
Frank Batten’s Remarkable Career Go online!
Find out how you can match your gift to help build Culver’s endowment!
For more details, please visit our home page at www.culver.org and click on the
A 1945 graduate of Culver Military Academy, Frank Batten is a communi- Batten Leadership Challenge logo.
cations entrepreneur who has made a mark in many ways. Under his leadership
Page 3 | By Example Newsletter
George R. Roberts ’62 Endows Leadership Scholars Program
to Benefit Students from the Western United States
A $10 million commitment from financier George R. Roberts ’62 is to the Culver Academies. Potential recipients of these scholarships
creating opportunities for students from the western United States will be incoming freshmen or sophomores. Candidates are ex-
to benefit from the excellent education and outstanding leader- pected to demonstrate a clearly established need for financial aid,
ship training offered by Culver Academies. At the same time, it is leadership potential through organizations, clubs and teams,
anticipated this new scholarship program will have high moral integrity, evidence of responsible
a transformational impact on the school by citizenship and community service,
helping to attract a steady flow of a sense of caring for others,
outstanding students from the “It is my hope the strong communication
West to Culver. skills, and mental and
Roberts Leadership Scholarship physical vitality.
The purpose
of the George R. Endowment program will help young men and
Roberts Leader- Roberts is one
ship Scholarship women from the West discover my alma mater – of the found-
Endowment is to ing partners of
provide “merit- a great school in northern Indiana – and benefit from Kohlberg Kravis
based” financial Roberts & Co.,
aid for young men
and women attend-
the outstanding education and leadership which specializes
in finding, financ-
ing Culver Military
Academy and Culver Girls
training that are the hallmarks of ing, and investing its
own capital in manage-
Academy. The scholarship is
named in honor of George R. Rob-
Culver Academies.” ment buyouts.
erts, a Culver Military Academy graduate Roberts graduated from Culver Mili-
from the Class of 1962. tary Academy in 1962, from Claremont McKenna
College in 1966, and from the University of California (Hastings)
The endowment will ultimately provide endowed support for Law School in 1969.
12 full financial aid packages for outstanding students from the
western United States. Roberts Scholars will receive full tuition, A former trustee of The Culver Educational Foundation,
room and board, uniforms, books, a service project during spring Roberts was honored as Culver’s Man of the Year in 1997.
break of the sophomore year, and a community building and
leadership experience in the summer before their senior year. The ongoing commitment and generosity of George
Roberts to Culver Academies is well known. He provided the lead
gift for the Roberts Hall of Science, which is named in his honor.
Dedicated in 2002, the Roberts Hall of Science offers state-of-the-
art classrooms, laboratories, and equipment. The 65-seat Roberts
Auditorium within the building is named in honor of his father,
Louis Roberts, a 1925 graduate of Culver Military Academy.
In establishing this scholarship fund, Roberts stated,
“It is my hope the Roberts Leadership Scholarship Endowment
program will help
young men and women
from the West discover
my alma mater – a
great school in northern
Indiana – and benefit
from the outstanding
Maria Paschal (left) and Andrea Lin (right) education and leader-
ship training that are
the hallmarks of Culver
Two Roberts Leadership scholars started at Culver Girls Acade-
Academies.”
my in the fall of 2008: Andrea Lin ’12 of Burien, Wash., and Maria
Paschal ’12 from San Jose, Calif.
The Roberts scholarship program will be open to those
applicants who have displayed academic, citizenship and
character excellence, and who have met the criteria for acceptance
George R. Roberts
Page 5 | By Example Newsletter
By Example
Vaughn Equestrian Center Renovation
and Horsemanship Endowment Campaign
Gregory W. Gingery N 1962 John B. Goering H 1950
$4,000,000 or More Preston W. Madden T 1952
Poncet Davis Jr. T 1948 Scott B. Gross T 1968
R. K. Mellon Family Foundation Willard H. Hagenmeyer Jr. T 1952
Raul J. Nieto PPWIN John R. Hargrove T 1965
$2,000,000 or More Thomas F. Shirey T 1968
(D) D. George Harris 1950 Charles R. Heller H 1945
Jud Q. Little T 1965 Henderson Family Foundation
Robert C. Vaughn T 1974
$25,000 or More (D) Geoffrey W. Hill T 1964
Robert M. Bath W 1949 Senour Hunt T 1942
William P. Fuller T 1945 Richard A. Jennings 1970
$1,000,000 or More Bradley A. Scherer T 1976
The Russell T. Bundy Family R. Crosby Kemper Jr. H 1943
Patti Hart Smallwood 1983 (D) Marion H. Keys PPWIN
$500,000 or More Glenn V. Kinsey T 1973
James D. Fullerton T 1935
$10,000 or More Albert J. Koegel T 1944
Burton P. Allen Jr. H 1946 H. Ward Lay T 1964
(D) Robert V. Reid T 1924
Jonathan P. Alspaugh H 1966 Albert C. Leader T 1959
John Ruan III T 1961
Rudi Ansbacher T 1950 Rex Martin 1970
Manuel A. Arango T 1954 Charles N. Marvin W 1936
$100,000 or More Alberto R. Bailleres T 1950
Anonymous G.A.N. “Gus” McFaddin T 1952
Harry E. Blythe III T 1945 J. Mark McLaughlin T 1948
Bertram B. Culver III T 1958
Richard M. Boundy CP Elliott W. Phillips T 1935
G. Edward Curtis PPWIN
Brian K. Bourgraf 1983 A. Langrell Price T 1973
James L. Dunlap T 1956
Pinckney J. Brewer T 1944 Albert M. Price T 1944
Rosemary A. Gordon-Panuco 1974
Chad L. Carey CP Julie Phillips Puckett 1976
Gerry and Bill Gram 1960
Paul DeCleva Jr. T 1971 Bernardo Quintana 1959
DeForest A. Hamilton Jr. H 1945
(D) Cortlandt S. Dietler T 1940 John D. Sheaffer T 1943
Marcia V. Mayo L 1971
Craig J. Duchossois T 1962 Denny W. Speidel T 1949
Wilbur C. Sensing Jr. T 1947
Jane Doehrman Eberly 1973 Margaret Bourne Spensley PPWIN
Dorothy J. Shirey Estate
Justo J. Fernandez Jr. T 1959 Laura V. 1978 and John W. Spensley T 1977
William Sinclaire T 1947
Donald V. Fites PPWIN Jennifer Steinbrenner Swindal 1977
V. Courtlandt Smith II T 1949
Linda M. Fites Reed 1981 Scott L. Taliaferro T 1939
Donn V. Tognazzini T 1952
John H. Fritz FF George F. Thagard III T 1967
P. Lamar Gable 1961 James J. Vlasic T 1969
$50,000 or More Fernando J. Maiz Garza H 1976
Anonymous Robert J. Vlasic T 1944
Paul C. Gignilliat 1949 John S. Waggoner Jr. T 1988
James F. Dicke II T 1964
J. Lawrence Wilson 1954
‘Sarge’ Hudson Remembered
Thanks to the generosity of the Russell T. Bundy Family, the pasture at
the corner of Indiana 10 and Indiana 17 will forever be known as the
Command Sgt. Maj. John W. “Sarge” Hudson Black Horse Troop Pasture
in honor of the late “Sarge” Hudson. Appropriately, a black sign with
gold letters has been installed on the site to commemorate Sarge, one
of the legends of Culver’s horsemanship program, a man whose greatest
loves included horses, kids and Culver. Gilbert L. Bundy ’77, William
D. Bundy ’93, and Robert A. Bundy ’99 all were members of the Black
Horse Troop and admirers of Hudson, the great horseman and United
States Army veteran who served in both the European and Pacific theaters
during World War II. “Sarge” Hudson served as a horsemanship
instructor at Culver for over 20 years following 30 years of service
Left to right, Hudson’s grandsons Max Good and John Good; his daughters, Cynthia Good to his country.
and Teresa Hudson; Director of Horsemanship Operations Ed Little, Liz and Russ Bundy.
Page 4 | By Example Newsletter
CULVER ACADEMIES Non-Profit Org.
U.S. Postage
The Culver Educational Foundation
1300 Academy Road #153
PAID
South Bend, IN
Culver, IN 46511-1291 Permit No. 368
DEVELOPMENT OFFICE
Culver Educational Foundation
1300 Academy Road #153
Culver, IN 46511
(574) 842-7400
Michael Hogan*
Director of Development
hoganm@culver.org
Mary Kay Karzas
Deputy Director of Development
karzasm@culver.org
Chet Marshall ’73*
Director of The Annual Fund
marshac@culver.org
Dale Spenner*
Director of Planned Giving
spenned@culver.org
Ruth Benner Hix ’68
Director of Special Gifts
hixr@culver.org
Steve Sturman W’69*
Senior Development Officer
sturmas@culver.org
Cathy Zurbrugg*
Senior Development Officer
zurbruc@culver.org
Jack Kelley*
Development Officer
kelleyj@culver.org
Kevin Kucera* Individuals who funded the renovation of a Woodcraft Camp cabin join the reviewing line for a parade.
Development Officer
kucerak@culver.org
Brad Pick ’95
Development Officer
pickb@culver.org
By Example:
Anton Zurbrugg N’64* The Campaign for Culver
Development Officer
zurbrua@culver.org
Gifts to the Annual Fund are critical to
By Example Campaign Progress
Michelle Miller* the success the By Example Campaign. For as of October 31, 2008
Annual Fund Officer that reason, I would like to thank the many, (Goal $300 Million)
mmiller@culver.org many people involved with the Culver Parents
Association’s Foundations for the Future
Judy Campbell* Auction held at Culver on the first weekend of
Annual Fund Officer / October. The parents, volunteers, sponsors,
Auction Coordinator alumni and staff worked together to create a
campbej@culver.org
remarkable event while generating a signifi-
Bob Quakenbush cant contribution to the Annual Fund . . .
Campaign Communications $558,000 to be exact! We are so grateful for
Coordinator everyone’s efforts, especially the Culver
quakenr@culver.org Parents Association, Sharlene Miclot and
Sallie Jo Mitzell in particular.
OFFICE OF
INTERNATIONAL To all of you, thank you for your
ADVANCEMENT ongoing support of the By Example
AND SUPPORT Campaign. Your hard work and generosity are
making our dreams for Culver a reality.
Antonio Giraldi ’75
Director
giraldt@culver.org
Karla Hernandez W’81
Associate Director Miles D. White ’73
hernank@culver.org By Example Campaign Chairman
Chairman and CEO, Abbott
*Culver Parent
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