BOARD INSIGHTS - Cal Poly Pomona Foundation, Inc.
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BOARD INSIGHTS - Cal Poly Pomona Foundation, Inc.
BOARD INSIGHTS February 2016 Happy 50th Anniversary, Foundation! 1 PUBLISHED BY: Cal Poly Pomona Foundation. Inc. Ph: 909.869.2912 Fx: 909.869.4549 WHAT YOU SPEND ON CAMPUS … STAYS ON CAMPUS Surplus funds generated by all Cal Poly Pomona Foundation operations go back to the University to provide financial and facility resources to benefit students, faculty, and staff. foundation.cpp.edu Board of Directors Meeting Rescheduled CSU Chancellor Timothy P. White will be visiting the Cal Poly Pomona campus on Thursday, February 18 for a full day of activities, including a campus open forum from 1:30 to 2:30 p.m. This opportunity to hear the chancellor will necessarily pull university faculty and leadership away from the scheduled board meeting at 2 p.m. For this reason, the board meeting on February 18 has been canceled, and all action item resolutions from the committees will be brought to the May board meeting scheduled for Thursday, May 18 at 2 p.m. Happy 50th Anniversary, Foundation! The Cal Poly Pomona Foundation turns 50 this month! Established on February 28, 1966, the Foundation has been an integral component of the educational mission of the Cal Poly Pomona University, and exists to provide the highest level of service and financial support. Thank you to all Foundation staff, past and present, for your hard work and dedication! 22 1966 - 2016 We Are Fifty. We Are Golden. 3 Foundation Helps with President Coley’s Investiture The Cal Poly Pomona Foundation was proud to help with President Soraya M. Coley’s historic Investiture on Friday, February 5. For the event, the Bronco Bookstore helped arrange faculty regalia and set up a remote shop at the event itself. In addition to regalia, the bookstore sold select bronco merchandise. In the morning before the Investiture, Kellogg West catered an exclusive brunch for about 140 people. Kellogg West also catered for the reception after the Investiture and provided delicious appetizers, beverages, and desserts for approximately 1,400 people. To further show support, the Foundation printed congratulatory banners and displayed them in the Senior Food & Beverage Manager Oscar Villanueva and Kellogg West Executive Chef Jose Rodriguez prepare for the reception. 44 bookstore atrium and near the Kellogg Gym where the Investiture took place. “The words ‘Thank you’ seem insufficient to express my appreciation for the well-wishes, assistance, and participation in my investiture as Cal Poly Pomona’s sixth president … the support from the Cal Poly Pomona Foundation, including Kellogg West Conference Center and Catering Services, the Bronco Bookstore … were so impactful to me,” says President Coley in an email sent to the campus community. “Most importantly, I am proud of having an opportunity to showcase our incredible campus and the outstanding students, faculty, and staff.” Congratulations, President Soraya M. Coley! CSU Chancellor Timothy P. White delivered a moving speech for the Investiture of President Coley. CSU Chancellor Timothy P. White, CPP President Soraya M. Coley, sixth CPP president J. Michael Ortiz, and fifth CPP president Bob H. Suzuki President Soraya M. Coley gave a powerful speech toward the end of her Investiture. Kellogg West Catering served appetizers, beverages, and desserts after the Investiture. Foundation Marketing displayed congratulatory banners for President Coley. 5 Science on Tap Lecture at Innovation Brew Works The Science on Tap Series presents “From West Nile to Zika Virus: Are Mosquitos Public Enemy #1?” Douglas Durrant, professor of biological sciences, will explain how mosquito-borne viral diseases, like Zika virus, have resulted in unexpected pandemics, how they attack the brain, and how our immune system responds. The talk begins at 7 p.m. on Wednesday, February 17 at Innovation Brew Works (3650 W. Temple Ave.) For more information, call 909.979.6486 or email dmdurrant@cpp.edu. There is no cost to attend the talk. www.iBrewWorks.com Assistant Director of Retail Dining Recognized by Athletics Sandra Cain, assistant director of retail dining, was recognized by Cal Poly Pomona Intercollegiate Athletics for the great work and support she provides to the athletic department. Sandra was honored at the annual Faculty/Staff Appreciation Night on Thursday, February 11. A short presentation was given during halftime at the Cal Poly Pomona men’s basketball game (vs. CSU Monterey Bay) and a small token of appreciation was presented to Sandra by university and athletic administration. Congratulations, Sandra! 66 Foundation Sponsors Men’s Basketball Game As a corporate sponsor of Cal Poly Pomona Athletics, the Foundation was honored at the Cal Poly Pomona Broncos vs. UC San Diego’s Toreros basketball game on Saturday, January 30. Although Cal Poly Pomona lost by three points, it was an exciting game and many Foundation employees and their families enjoyed a pregame “tailgate” barbeque catered by Kellogg West. At halftime, Executive Director Paul Storey was called onto center court to receive a basketball signed by all the players as a thank-you for the Foundation’s multi-year corporate sponsorship. Additionally, the Foundation’s name was flashed on the big screen and was announced as the game’s sponsor. The Foundation has been a long time sponsor and recently pledged $10,300 each year for three years to support intercollegiate athletic teams. This entitles the Foundation to scoreboard signage and a link to the Foundation’s homepage on the Cal Poly Pomona Athletics website. Furthermore, a partnership sticker will be displayed at the entrance of each enterprise so the campus community can see again how the Foundation gives back to the university when people buy from Foundation units—What You Spend on Campus Stays on Campus—Go Broncos! 7 It’s Back! The CSU Internal Compliance Audit Every three years, the Chancellor’s Office auditors visit the auxiliaries and perform a systematic review to examine internal controls, procedures and processes, and determine the effectiveness of our risk management. According to their website, some goals and opportunities are to: • Provide ongoing assurance that critical risks are being mitigated to acceptable levels and the CSU is operating efficiently and effectively. • Add value by contributing to the improvement of governance, risk management, operations and control processes, and by promoting continuous improvement. • Enhance awareness and understanding of risk and control, and promote appropriate ethics and values. • Partner with management to analyze current and emerging risks to the CSU and design controls to mitigate those risks. • Observe opportunities for process improvement or other enhancements that ultimately either increase the CSU’s efficiency and effectiveness or help fulfill its mission. • Foster communication between system offices and campuses, including the sharing of best practices and model policies. Auditors will arrive in March and stay for three weeks. Foundation management is busy collecting documents necessary for their evaluation. 88 Congratulations, NACUFS Survey Winners! As part of the Foundation’s ongoing efforts to ensure that dining venues are exceeding expectations, Dining Services conducted their annual online NACUFS customer satisfaction survey in November 2015. Dining Services exceeded their goal of 1,000 entries and received over 2,300! All participants were automatically enrolled in a drawing for a chance to win 300 Belly points for any participating on-campus dining venue, a $100 Cal Poly Pomona gift card, and the grand prize of four Disneyland tickets. Thank you to all who participated and congratulations to the NACUFS survey winners! Raquel Romero, grand prize winner of Disneyland tickets Jen Valencia, winner of a $100 Cal Poly Pomona gift card Nykael Williams, winner of a $100 Cal Poly Pomona gift card Kathryn Brun, winner of 300 Belly points Diego Recinos-Walsh, winner of 300 Belly points 9 Innovation Brew Works at Ontario Reign As of early February, Innovation Brew Works beer is being sold at the Citizens Bank Arena in Ontario. Innovation Brew Works’ Reign On, an American black IPA, and ‘66 Blonde, an American blonde ale, are sold at the Craft Beer Crossbar inside the arena. Dale Bros Brewery, Wicks Brewing Co., and Ritual Brewing Co. also have beer on tap at the arena. Ritual Brewing Co. is owned and operated by Owen Williams, who teaches brewing classes at Cal Poly Pomona’s College of the Extended University. Also, keep an eye out the next time you are on Interstate 10 near the Citizens Bank Arena—the Innovation Brew Works logo is posted on a marquee that can be seen from the freeway. Innovation Brew Works beer is also available at the following locations: • • • • Finish Line Sport Grill in Pomona The Farm Store at Kellogg Ranch The Restaurant at Kellogg Ranch Mountain Meadows Golf Course in Pomona To all the sites carrying Innovation Brew Works beer: thank you for supporting Cal Poly Pomona and the Foundation! Innovation Brew Works Attends San Diego Event Innovation Brew Works participated in the sixth annual San Diego Brew Fest on Saturday, January 16 at Liberty Station. This event included unlimited beer tastings from over 60 breweries from around the world, food trucks, and live music. Innovation Brew Works brought their famous Bronco Brown as well as their Brethren Belgian, Class Clown: Rubottom’s Red with raspberries, and Class Clown: Dr. Ortiz Orange Witbier with blood oranges. They also brought Innovation Brew Works t-shirts, sweatshirts, and pint glasses to sell as well as coasters to distribute. All proceeds from the San Diego Brew Fest benefited Noah’s Bark Pet Rescue whose aim is to rescue dogs from shelters and find permanent homes for rescued pets. Proceeds from the event went toward funding food, shelter, and veterinary bills for rescued pets. 10 10 11 Asset Protection Risk Review—Now Part of Yearly Budget and Business Plan Every year as part of the budget and business plans that each unit of the Foundation is required to submit, the risk manager would visit each unit and fill out a lengthy questionnaire to assess the types of possible safety threats present and how each unit’s situation would be addressed. Risk Management Review is an important step in a healthy operation to help build trusted relationships with employees. This year that assessment document has been converted to an online form and each unit manager or director is responsible for filling it out themselves and incorporating it into their Budget and Business Plan for the upcoming year. We strive to manage risks that can prevent achieving strategic objectives. This business “best practice” can identify areas for innovative problem solving and collaborative partnerships to reduce the overall cost of risk. CTTi Hosts Class Presented by the Pomona Chamber of Commerce In late January, CTTi at Innovation Village hosted a class for SCORE, a nonprofit association dedicated to helping small businesses, grow, and achieve their goals through education and mentorship. Presented by the Pomona Chamber of Commerce, this class titled How to Negotiate a Commercial Lease was a “how-to” interactive workshop to help people understand the leasing process and how to help them get the best deal possible. The class targeted those thinking about leasing office or retail space as well as for those housed in leased space with their lease ending within the next year. 12 12 Student Foundation Board Member Reflects on 2016 AOA Conference The 2016 AOA conference held in Sacramento on January 10 through 14 had a new attendee from the Cal Poly Pomona Foundation—one of the Foundation board members, student representative Greg Kommel. Greg is the ASI science senator and was appointed by ASI President Julian Herrera (also a Foundation board member) to be a student representative to our Foundation Board of Directors. Greg wrote a few paragraphs describing his experience and about how his attendance benefitted him as a board member. He is learning about the many moving parts of the Foundation, and how many units are incorporated into its financial oversight. He writes: In my role with ASI and Foundation here at Cal Poly Pomona, the AOA Annual Conference was a unique learning experience for me. This conference gave me the opportunity to expand my understanding of how decisions are made among the executive staff, and learn about the process of collaboration between the auxiliaries. I attended various sessions on topics ranging from information technology to communication within the campus, exposing me to a wide variety of issues for auxiliaries on campus. The sessions I attended will not only assist me in my role as a Foundation board member for this year and the next, but also in my capacity in as Science Senator for ASI. Although I do not personally run any departments within Foundation, the conference strongly benefitted me, as it gave me an overall better understanding of the information processed within the Foundation Board [of Directors]. The ability to network with other auxiliary executives and discuss ideas with them was an invaluable experience in my understanding of logistics within Foundation and ASI. 13 Homecoming Week Box Sale/Bookstore Open Homecoming Weekend During Cal Poly Pomona’s Homecoming week, February 24 through March 2, Bronco Bookstore will be having another one of their popular Bronco Gear box sales. Look out for amazing deals during this time, including $19.99 sweatshirts and $9.99 tanks and tees. Also, Bronco Bookstore will be open on February 27 for the Homecoming event from 11:00 a.m. to 6:00 p.m. Mobile App Orders Accepted at Subway Attention all Subway lovers! The Subway mobile ordering app is now accepted at Subway in the Bronco Student Center. Simply download the app and order your meal—your order will be ready for pick up in 15 minutes! Your order history is then saved to make it even easier the next time you order. New Digital Menu Boards at Carl’s Jr. Carl’s Jr. in Campus Center Marketplace updated their printed menu boards to digital ones. This update will make it easier to change menu items when necessary and will reduce printing costs. Check out the new boards the next time you stop by! 14 14 New Workshops and Students Join the University Village January was a relatively steady month for staff members at the University Village. At the beginning of the month, they welcomed approximately 40 new residents to the Village. Their operations staff has been working to fill all of the remaining spots. Additionally, staff welcomed approximately 100 new students from the Jintong Aviation and Hospitality Program to the Village in mid-January. The Jintong students will be staying at the Village through the beginning of April when they will swap out with a new cohort of students. Additionally, in January, the residential education team began facilitating the Leadership Workshop series for Village residents as well as other Cal Poly Pomona students. The Leadership Workshop series is four weeks long and provides students with in-depth leadership training to provide them with a skill-set they can take to any of their extracurricular involvements as well as to future internships and jobs. The Village has approximately 85 students participating in the workshop series and all of the students who complete it will receive a notation on their MyBar transcript with the university which they can take with them to future jobs/internships to show they’ve received leadership training. This year’s workshop theme is “The Elements of Leadership” and each of the four weeks has a theme focused on one of the four elements (earth/water/wind/fire). For example, the “water” themed week focuses on topics related to flexibility and adaptability in leadership while the “fire” themed week will focus on passion and motivation. Above: Students build a structure using marshmallows and spaghetti during the leadership workshop; the strength of the design is then tested with a heavy book. This activity is designed for the students to fail so the group can discuss how leaders respond and learn from failure. All in all, it was an exciting month for Village staff! 15 Foundation Real Estate Manager Participates in Principal for a Day In collaboration with the Pomona Unified School District, the Pomona Chamber of Commerce presented the annual Principal for a Day program on Wednesday, February 3. Principal for a Day is an educational partnership between schools and the business community in Pomona. Business and community leaders get a hands-on opportunity to explore what is happening in today’s schools as they take on the role of a school principal. This year, Foundation Real Estate Manager Randy Wallace Jr. participated in the event and attended Golden Springs Elementary School (K-6) located in Diamond Bar. Golden Springs Elementary School consists of a small population of 380 students with the majority of the students bused to the school from the neighboring Pomona area. “As a student, I attended Diamond Point Elementary School located down the street, so participating in this event with the Pomona Unified School District was rewarding,” says Randy. Randy shadowed Principal Janet Alvarez as she partook in her morning duties. Principal Alvarez typically visits every classroom in the morning to observe the teacher and student interaction. Randy and Principal Alvarez visited each class where students showed the pair a variety of projects they recently completed both in and outside of class. “I was impressed with the way that the students in each class greeted [us] when we arrived to their class,” expresses Randy. “There were typically two students that greeted me by shaking my hand and introducing themselves.” Randy also visited the library to read books to a group of kindergarten students, which he described as “fulfilling.” “This really brought my animated side out,” acknowledges Randy. 16 16 The Principal for a Day participants According to Randy, many of the students are already familiar with Cal Poly Pomona because they have visited the annual Pumpkin Festival at the Farm Store or other events held on campus. Several sixth grade students had questions regarding various college programs at Cal Poly Pomona. “I addressed as many questions as possible and encouraged the students to explore the Cal Poly [Pomona] website for additional information.” After participants in the Principal for a Day program observed the schools in the district, many attended a luncheon that allowed them to share their experiences from the morning and also network with other community professionals. Each “principal” received a certificate of participation presented by the Pomona Chamber of Commerce. “This experience enabled me to see the joys and challenges that this school faces,” says Randy. “After visiting each classroom, I was enthralled with how engaged the students were in their learning,” The participants in the Principal for a Day program visited a total of 38 schools in the Pomona Unified School District. Kellogg West Employee Earns Bartending Certification Kellogg West Foundation is proud to announce our second graduate of our sponsored National Bartending School program—Kindra Kerr. Kindra has successfully completed the course of mixology, liquor, wines, and customer service. Kindra has been an enthusiastic and reliable employee for Kellogg West since January 23, 2014. She will become an even more versatile staff member to the Kellogg West operation. Please join us in congratulating Kindra on her outstanding achievement! Please also join us in congratulating those who have completed the bartending program as well: Espi Hamilton, Mathew Luis, and Andrew Fremont. Sincerely, Oscar Villanueva Kellogg West Senior Food and Beverage Manager 17 Los Olivos Celebrates Mardis Gras! Los Olivos celebrated Mardi Gras with a festive luncheon on Tuesday, February 9. A delicious array of food was offered including spicy seafood gumbo soup, herb & spice roast chicken, vegetarian fettuccini pasta, and smothered cheese grits with mustard greens. Attendees also enjoyed live music from local band Dope By Design. Their jazzy tunes enhanced the overall ambiance of the event. Los Olivos will host the St. Patrick’s Day Luncheon on Tuesday, March 15. Keep an eye out for more details. For more information and dining hours, visit www.CPPDining.com. Local band Dope By Design entertained the crowd with jazzy tunes. 18 18 Arnold Zavalza, executive chef of Los Olivos, was in the Mardi Gras spirit with a festive hat and colorful beaded jewelry. Schedule of New Grants January 2016 Project Title Awarding Agency New Awards College/Division Project Director Evaluation Component of the Gates Business Proposal University of Southern California 18,000 Letters, Arts and Social Sciences Viviane Seyranian Empirical Bayes Analysis and Highway Safety Plan State of California-Office of Traffic Safety 145,170 Engineering Wen Cheng CyberWatch West Whatcom Community College 97,633 Business Administration Dan Manson Rialto Unified School District Science Professional Development Rialto Unified School District 25,000 Science Jodye Selco 285,803 19 Unaudited Financial Statement Highlights – Dec. 2015 EXECUTIVE SUMMARY The purpose of this article is to provide information related to the unaudited financial performance of the Foundation for the month of December 2015. The Foundation generated a monthly deficit versus a budgeted surplus mainly due to unrealized losses from endowment and general investments and surpluses from Restricted Programs. ENTERPRISES Summary – For the month ended, the Enterprise operations generated a surplus greater than budgeted mainly due to Bookstore and Housing operations outperforming. Bronco Bookstore – Revenues are 96% or $18,035 short of budget as hardware and supply sales slowed as we left for the Holidays. Cost of goods is 68% versus 72%; payroll and expenditures are 36% versus 42% of revenues. We appreciate the University’s support and the President’s request that what you spend on campus stays on campus. Dining Services – Revenues exceed budget by 5% or $53,988 due to board revenues. These revenues consist of 59% from retail and 41% from board operations; cost of goods sold is 30% versus 34% of budget, salaries and expenditures are 81.7% versus 73.5% budgeted. Retail revenues are 95% or $29,387 short of budget; cost of goods is 34.6% versus 34.7% of budget, salaries are 50.7% versus 45.9% of budget and expenditures are 37.5% versus 31.1% of budget generating a deficit of $142,052 versus $73,845 budgeted. Board operation revenues exceed budget by 24.5% or $83,375; costs of 20 20 Monthly Budget Monthly Actual Monthly Variance YTD Budget YTD Actual Enterprise Activities Bookstore Dining Services Kellogg West Conf. & Hotel University Village Housing Subtotal: (64,444) (75,906) (22,932) 294,487 131,205 (19,105) (124,336) (59,355) 367,685 164,889 45,339 (48,430) (36,423) 73,198 33,684 (79,033) 123,373 (21,797) (184,154) (161,611) 70,549 (474,919) 12,949 158,920 (232,501) General Activities Foundation Administration Real Estate Development Investments Building Rental Subtotal: (154,041) (38,627) 203,443 6,245 17,020 (55,745) 31,252 (366,562) 17,445 (373,610) 98,296 69,879 (570,005) 11,200 (390,630) (559,993) 117,878 673,200 37,120 268,205 (52,843) 232,521 (1,151,778) 51,951 (920,149) Designated Funds (102,463) (78,908) 23,555 (595,573) (337,982) Other Activities Research Office Agriculture Continuing Education Fdtn Programs-Unrestricted Subtotal: 3,750 31,486 (101,293) 1 (66,056) 2,096 333,229 63,191 (15,855) 382,661 (1,654) 301,743 164,484 (15,856) 448,717 22,700 219,407 180,277 6 422,390 32,576 210,982 957,172 67,845 1,268,575 (20,294) 95,032 115,326 (66,589) (222,057) 168,632 822,676 1,189,199 (1,954,483) 1,020,567 (2,777,159) 1,405,660 1,414,470 310,248 (7,407,522) 0 (95,375) (95,375) 0 (187,805) 991,308 (860,659) (1,851,967) 2,820,130 (7,285,079) 971,014 (765,627) (1,736,641) 2,753,541 (7,507,136) Net Surplus/(Deficit) Unrestricted: Fdtn Programs-Restricted Endowment ProgramsRestricted Assets Transferred to University Net Surplus/(Deficit) Restricted Net Surplus/(Deficit) Grand Total: goods are 23.3% versus 33.1% of budget, salaries are 30.5% versus 30% of budget and expenditures are 41.9% versus 37.2% of budget generating a surplus of $17,716 versus a budgeted deficit of $2,061. Kellogg West Catering/Dining – Revenues are 83% or $26,290 short of budget, cost of goods is 30.9% versus 28.6%, salaries are 63.4% versus 48.9% and expenditures are 28% versus 26.2% of revenues generating a deficit of $28,277 versus $5,713 budgeted. Kellogg West Conference Center & Hotel – Revenues are 56% or $30,615 short of budget due to conference business was slow and we only scheduled through December 19, 2015, salaries are 121% versus 132% and expenditures are 128% versus 60.8% of revenues generating a deficit of $59,355 vs $22,932 budgeted surplus. University Village – Revenues are 98.4% or $15,504 short of budget and occupancy is at 97%, salaries and expenditures are 62% versus 70% of budget generating a surplus greater than budgeted. GENERAL ACTIVITIES General Activities reported a deficit versus a budgeted surplus mainly due to unrealized losses in the General Investment Portfolio. DESIGNATED EXPENSES Designated Gifts generated a deficit less than budgeted. OTHER ACTIVITIES (presented year-to-date actual versus budget) Sponsored Research has generated a year to date surplus greater than budget due to year to date indirect revenues exceeding budget by 20.8% or $109,472 and direct grant expenditures exceed budget by 11.28% or $599,396 generating an effective rate of 10.75% versus the budgeted rate of 11.5%. Agriculture-Aid-to-Instruction year to date revenues exceed budget by 1.9% or $39,712 and exceed prior year revenues by 43% or $638,947, costs of goods are 21.6% versus 15.7% of budget and payroll and expenditures are 70% versus 74% of budget generating a year to date surplus less than budgeted surplus due to Beef Program, Arabian Horse Center, Ornamental Horticulture, Fruit Industries, Vet Clinic, offset by Pine Tree Ranch, Agronomy Farm, Farm Store, Sheep Program and Pumpkin Festival. Continuing Education year to date revenues exceed budget by 9% or $274,870; payroll and expenditures are 72% versus 94% of budget mainly due to additional revenues and savings in advertising, rent/commissions, services, supplies, travel, bank fees, salaries and benefits generating a year to date surplus greater than budgeted. Foundation Programs–Unrestricted includes the activities that are not third party donor imposed stipulations. Year to date revenues exceed budget by 4% or $11,498 in spit of prior fiscal year indirect cost recoveries allocation between unrestricted and restricted programs; expenditures (excluding Transfers to the University # 7344) are 80% or $56,378 short of budget generating a year to date surplus versus a zero budget. Endowment/Investment – unrealized investment losses are $8.7 million, donations are 46% or $276,176 below budget; expenditures are in line with budget. Foundation Programs–Restricted – revenues exceed budget by 6.3% or $313,282, expenditures exceed budget by 39% or $1,414,809. If you have any question or need additional information, please contact David Prenovost at dfprenovost@cpp.edu or call (909) 869-2948. 21 22 22 www.foundation.cpp.edu
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