Institute Report March 2014 - page 3

MARCH 2014, Page 3
VMI Institute Report
Strength of VMI Endowment Recognized
’83, VMI F
A recent article in the
Washington Post
recognized VMI for the per-
student value of its endowment.
The article, “Top college endowments per student in 2013,” written
by higher education reporter Nick Anderson and published on Jan. 28,
focused on the endowments of colleges and universities in the District of
Columbia, Maryland, and Virginia, and, more specifically, the per-student
value of the endowments.
Using the value of investments reported by area institutions to the
National Association of College and University Business Officers,
Anderson listed 35 private and public institutions ranked according to
“endowment dollars per enrolled student.” In this list, the top school
was Washington and Lee University with $608,208 per student. The other
schools in the top five were the University of Richmond, $489,917; the
University of Virginia, $220,195; Hollins University, $219,803; and the
Institute, $201,893.
Overall, wrote Anderson, “The list is dominated by private schools,
which is to be expected because they are smaller than public
universities and more reliant on fundraising. … U.Va. and Virginia
Military Institute are in a class by themselves among public institutions
in the region.”
“It is great that the Institute has received this recognition,” said Brian
Scott Crockett, CEO of the VMI Foundation. “After some tough years,
our endowment has regained a lot of ground, and, at the end of 2013,
its value was more than $338 million.
“A great many people have a share in this success, of course. First and
foremost are the people who have entrusted the VMI alumni agencies with
the money to create the many endowments that support scholarships,
club sports, academic departments, intercollegiate athletics, cadet and
faculty awards, and faculty development as well as provide unrestricted
support. Then, there are the volunteers who make up the board of VMI
Investment Holdings LLC, who work with the people at our investment
management firm, Cliffwater LLC, and, above all, are dedicated and
careful stewards of this money.
“It is an excellent partnership that annually generates millions of
dollars for VMI and its cadets and will continue to be a critically important
source of support for decades to come.”
Updated Master Plan Approved
A n e w G r e e n S p a c e
Preservation Plan, the ongoing
Post Beautification Plan, and
the highly anticipated Corps
Physical Training Facilities are
described in the updated Post
Facilities Master Plan approved
in January by the Board of
Visitors. Also included is a
plan developed last fall for
infrastructure improvements
across post. Funding is being
sought for the improvements
in three phases.
The Post Beautification Plan
was first implemented in 2009
as a process for continuously
improving the appearance of the VMI post. At the beginning of each
year, Institute Planning Office and other staff complete a review of the
post to prioritize beautification projects.
“It’s an initial annual effort to come together and identify things around
post that need to be cleaned up” said Lt. Col. Dallas Clark ’99, Institute
planning officer. Recent projects completed as part of the plan include
the Corner Plaza at the entrance to the Parade Ground.
The beautification plan is closely tied to the green space plan, a
proactive effort to determine where additional structures can enhance
post and where green space should be preserved.
“We needed to identify all the green space and indicate a desire to
preserve it,” said Clark. “It wasn’t necessarily to preserve it forever, but
to identify that space so that if anybody ever came down the road and
said ‘I’d like to go ahead and build there,’ everybody could pause for a
second and make sure … we don’t over build.”
Some of the areas around
post that were surveyed for
preservation include Lackey
Park, McKethan Park, and the
areas between the faculty and
staff housing and the academic
Possibly the most exciting
part of the new Master Plan
is Phase I construction of the
Corps Physical Training Facilities,
which begins this spring. The
Indoor Training Facility, which
will be located on Route 11
just south of Cameron Hall, will
boast an indoor track, high ropes
course, rock wall, locker rooms,
indoor obstacle courses, and spectator seating.
“More than likely we’ll start the new facility this summer, and we plan
to start on Cormack Field House this summer,” commented Clark.
The renovation of Cormack Field House, part of Phase II, entails
a full-scale remodel of the inside, including space for the physical
education department, an additional weight room, and new classrooms
to accommodate the exercise science minor offered to cadets for the
first time this academic year. Phase II will also include the renovation
of Cocke Hall to modernize the building systems and provide weight and
cardio training facilities and enhanced locker rooms.
Phase I of the infrastructure improvements will renovate the heat plant
and fire alarm systems. Phase II will include conversion of the VMI Police
and Bachelor Officers Quarters to a modern Emergency Management
Control Center and police station, as well as water service improvements.
Phase III will include wastewater and other improvements.
The new Indoor Training Facility, shown in yellow above, is among the
projects outlined in the 2014 Post Facilities Master Plan Update.
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