New
director selected
for University Foundation
Sharen Peters has been promoted to
president and chief executive officer
of the UM Foundation. She had been the organization's vice president for major gift
development.Peters assumed her new post in April, succeeding Fred Lee, who announced
his resignation in early spring.
Peters joined the UM Foundation in 1983 as an accountant. Over the years she has held
management positions in both fund raising and business operations.
Penny Peabody, chair of the UM Foundation Board of Trustees, said, "The board and
I are delighted Sharen has agreed to become our new CEO. She brings a wealth of experience
and knowledge of the UM Foundation to the position. Her elevation to the foundation's top
post will allow us to continue to build on our successes over the past decade in providing
private support for The University of Montana."
Peters began the foundation's planned giving program in 1991. She was appointed by
former Gov. Marc Racicot to sit on the Governor's Task Force on Endowed Philanthropy,
which is charged with promoting endowed giving in Montana, particularly through the
Montana Endowment Tax Credit. She also is a member of the Western Montana Estate Planners
and National Council on Planned Giving.
During the years of the UM Capital Campaign-Ensuring a Tradition of Excellence, Peters
worked extensively on securing planned gifts and was the staff liaison for the
solicitation of Minnesota alumni and friends.
Peters has been vice president of the foundation since 1998. During that time, gift
revenues and donor numbers have increased while fund-raising costs of 9 percent remain
well below the national average of 16 percent.
"In my 18 years at the UM Foundation, I've had the opportunity to see our
foundation grow and develop into a respected fund-raising organization that serves as an
example to other foundations in this region," Peters said.
"I look forward both to continuing our current initiatives and undertaking new
programs and projects that will enhance our effective service to The University of
Montana."
A primary goal for Peters is to continue the foundation's march toward building a $100
million endowment. The foundation's permanent endowment of funds, trusts and other
vehicles totaled $78 million at the end of fiscal year 2000.
The UM Foundation, established in 1951, is observing its 50th anniversary throughout
this year. Peabody said, "With Sharen Peters at the helm, we expect to undertake
fund-raising programs that will make the next 50 years even more productive."
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