BHEF FY20 Q1 Board Of Directors Meeting Materials

BHEF Board of Directors Phone Meeting, October 23, 2019 BHEF Board of Directors Meeting October 23, 2019 10:00 a.m. – 12:00 p.m. EST Conference Number: 1-877-366-0711 • Participant Code: 19815967# AGENDA 10:00 a.m. Business Meeting 1. Welcome and Overview – Randy Woodson 2. Approval of the FY19 Q4 Board of Directors Meeting Minutes – Randy Woodson (Tab 1) 3. Chief Executive Officer’s Report – Brian Fitzgerald (Tab 2) 4. Committee Reports – Randy Woodson a. Finance and Audit – Brian Fitzgerald (Tab 3) b. Membership – Brian Fitzgerald (Tab 4) 5. Closing Remarks – Randy Woodson 11:30 a.m. Executive Session Tab 1 – FY19 Q4 Board of Directors Meeting Minutes BHEF FY2019, Q4 Board of Directors Meeting Minutes | 1 BHEF Board of Directors Meeting June 25, 2019 1:00 PM EDT Board of Directors Meeting Minutes Attendees Board Members: Joseph Aoun, Robert Caret, Jim Clements, Brian Fitzgerald, Mike King, Ryan Oakes, Mary Papazian, Brian Roach, Tim Sands, Peter Weinberg, Randy Woodson. BHEF Staff: Suzanne Amoonarquah, Steve Barkanic, Stephanie Blochinger, Stacey Brown, Isabel Cardenas-Navia, Janet Chen, Ursula Gross, Amanda Pumphrey, Terah Speigner, Danielle Troyan Welcome and Overview Board Chair Ryan Oakes opened the meeting at 1:00 p.m. He welcomed members and provided an overview of the agenda. Approval of the FY19 Q3 Board of Directors Meeting Minutes Oakes asked for a motion to approve the FY19 Q3 Board of Directors Meeting Minutes. The motion was made and seconded. The minutes were unanimously approved. Chief Executive Officer’s Report Before taking the Board through the CEO’s Report, Brian Fitzgerald pointed to recent media placements, articles in the Miami Herald and Forbes Magazine, as examples of BHEF’s brand in action. He stated that media placements can be powerful tools to share with members and prospective organizations to demonstrate BHEF’s influence in helping member companies in their recruiting processes. Fitzgerald noted that BHEF has all the components to create impact at scale to help drive membership growth. Oakes emphasized the continued need to look for ways to scale the organization and bolster the stature of the brand to maintain a strong trajectory. Strategic Opportunities in 2019-2020 In 2019-2020 BHEF will further its strategy to strengthen BHEF’s brand as a national thought leader in actionable intelligence for foundational skills for the digital economy, strategic business partnerships, and innovative digital workforce solutions. Key elements of this strategy included enhancing BHEF’s position as a national thought leader in implementing digital workforce solutions through a multi-state partnership, new marketing intelligence (MI), and thought leadership (TL). BHEF FY2019, Q4 Board of Directors Meeting Minutes | 2 BHEF plans to release a new publication in conjunction with PwC focused on digital reskilling and diversity, conduct a reskilling roundtable in Boston, and host regular thought leadership events. BHEF-BRT Workforce Partnership Initiative BHEF’s goal was to leverage the BHEF-Business Roundtable (BRT) Workforce Partnership Initiative (WPI) to position BHEF as a national leader in workforce solutions. One key challenge BHEF will face is increasing the speed of projects from inception to completion. BHEF will continue to advance WPI projects in five key regions to serve as proof points for the digital skill ecosystem at scale. Work in the DC-Maryland-Virginia (DMV) region, specifically at George Mason University, demonstrated the potential for bringing solutions to market more quickly:  The first digital technology credentials program was refined in spring of 2018, mapped into curricula during summer, offered in January 2019, and graduated seven students in May 2019.  Six more universities in the region are expected to launch credentials programs in fall 2019.  BHEF has sought National Science Foundation (NSF) funding totaling $7M for specialist credentials and reskilling. There will be an opportunity to deploy BHEF’s strategy in New England, utilizing BRT to engage CEOs and companies through digital workforce projects, regional CEO convenings, and publications. As a powerful business intermediary, the group is able to onboard employers and expedite relationship with universities—a collaboration that each group could not efficiently do independently. BHEF-NEBHE Workforce Partnership In replicating the success created in other regions, the group will leverage timely regional workforce reports and the continued commitment of BHEF-BRT members in New England. The DMV model of linking networks of employers and universities through a business intermediary, first deployed in New York City through the Sloan-funded NYC Data Science Task Force and Financial Services Industry Workforce Initiative, can be used throughout New England. Current New England initiatives included:  The New England Board of Higher Education’s Commission on Higher Education and Employability created a singular consensus among all six states in the region.  BHEF lent support to Jim Loree at Stanley Black & Decker to lead a WPI replication and seek alignment between Connecticut CEOs and universities on new digital credentials. Enhance BHEF Thought Leadership BHEF, with the support of PR firm Live Wire Strategic Communications, will partner with members and BRT to continue to publish thought leadership pieces and conduct national and regional events. Two new thought leadership pieces have been published in June, an Op-Ed in the Miami Herald, written by BHEF former chair Eduardo Padrón, and an article in Forbes Magazine. The aim was to further elevate BHEF’s presence with:  Editorial board briefings and speaking opportunities that leverage existing and forthcoming materials; BHEF FY2019, Q4 Board of Directors Meeting Minutes | 3  Focused articles and expert commentary in high-profile news outlets;  New white papers on digital reskilling and diversity with PwC;  Investments in Burning Glass analysis;  Thought leadership reports on BHEF-led partnerships. Fundraising BHEF will continue fundraising activities to pursue new sources of revenue and seek support for its program portfolio, MI and TL. BHEF was seeking a supplement to its multi-year grant from the JPMorgan Chase Foundation (JPMC) or funding partners to support additional regional projects. In January, BHEF submitted a $6 million multi-year NSF grant proposal to provide funding to BHEF through FY2021 and support eight WPI DMV universities. In June, NSF invited BHEF to submit a proposal for a nine-month, $1M planning grant to develop an implementation plan for aligning existing pathways and integrating new ones. BHEF was seeking support from the following member prospects for MI programmatic activities, including regional and national convenings and publications:  Stanley Black & Decker,  State Farm Mutual Automobile Insurance,  and Santander Bank. BHEF was seeking grant support from the Joyce Foundation, Strada Education Network, Trellis Company, ECMC, and other foundations. Finance and Audit Committee Report As BHEF prepares to close out the third quarter of FY19, there is a forecasted revenue amount of $3,465,559 and expenses of $3,860,890 for the year. This will result in a deficit of $341,331. Note: this was due mostly to the timing of the second JPMC payment. The proposed FY20 operating budget includes revenue of $2,100,000 in member dues, $508,029 in HEWI grants, $600,000 from JPMC, and $122,500 from Google. The proposed budget included expenses of $3,283,723, which yields an operating surplus of $46,806. FY20 will be the first year both business and academic members are paying the increased dues rate. Membership Committee Report The Membership Committee met on June 25, 2019. Membership remained at fifty-eight members: twenty-five corporate, thirty academic, zero government, and three emeriti. The goal for FY19 was to retain seven transitioning or retiring members and gain eight business members. To date, three have been secured. BHEF FY2019, Q4 Board of Directors Meeting Minutes | 4 The board shared some thoughts on increasing membership, which included thinking beyond the C-suite to recruit key roles in human resources, mining alumni of member schools, and being realistic about how high into an organization BHEF can reach given the relative size of an organization (Google was provided as an example). Mike King was nominated for Vice Chair. His nomination was accepted. The Board of Directors slate was approved. Closing Remarks The meeting went into executive session at 2:30 pm. These minutes were certified on: __________________, 2019. By: Randy Woodson BHEF Chair (2019-2021) __________________________________ Brian K. Fitzgerald BHEF Secretary __________________________________ Tab 2 – Chief Executive Officer’s Report Implementing BHEF’s Strategic Vision: Demonstrating National Leadership in Deploying Digital Talent Ecosystems CEO Report FY20, Q1 Board of Directors Call October 23, 2019 Strategic Opportunities in 2020 Execute a strategy in 2020 to strengthen BHEF’s brand as a national leader in developing and deploying digital talent ecosystems by strategically utilizing grant funding to publish thought leadership (TL) reports to attract new funding, new members and increase member value. •Enhance BHEF’s position as a national leader in deploying digital workforce ecosystems through the Workforce Partnership Initiative (WPI)/JP Morgan Chase (JPMC) grant and add reskilling capabilities to BHEF’s workforce solutions portfolio through the new $1M NSF Convergence Accelerator reskilling grant. •Expand BHEF’s national TL role by releasing publications from the NSF-I and JPMC grants and a digital reskilling report with PwC focused on diversity and inclusion, and cohost a Reskilling Summit spring/summer 2020. •Continue to build new external and member communications capabilities to improve brand recognition and increase visibility of market intelligence (MI) publications and TL events. •Build on the NSF Convergence-Accelerator (C-Accel) and other grants to secure new, multi- year streams of revenue to ensure sustainability of BHEF’s strategic vision. •End the infrastructure relationship with SmithBucklin, develop independent infrastructure and move into new space in spring 2020. •Rebuild the Membership Committee and regain momentum toward the Board’s goal of achieving 35-35 business-academic parity in CY20. © 2019 BHEF 2 FY20 National Leadership Opportunities Significant grant funding will position BHEF as the national leader in talent ecosystem development: –NSF Convergence-Accelerator (C-Accel) planning grant (Phase I) will design and implement an innovative analytical model for MI inthe DC-Maryland-Virginia (DMV) region’s reskilling supply and demand, and create a replicable model for developing comprehensive reskilling ecosystems. –Closeout of NSF-I (12/31/2019) enables BHEF to publish a TL report on the impact of business-higher education partnerships on student success, and the significant broader impact of the partnerships beyond the original scope of the grant. –JPMC grant for WPI provides final $600,000 to advance the 10 WPI sites, including Raleigh-Durham, and produce TL reports on developing regional talent ecosystems. –Support BHEF members in digital talent ecosystem replication in New England and other regions. –Build on the reskilling whitepaper by producing a BHEF-PwC reskilling TL report and cohost a national reskilling summit in spring/summer 2020. © 2019 BHEF 3 C-Accelgrant will permit BHEF to develop an innovative analytical model for measuring reskilling demand, assessing HE capacity and designing a replicable model for building reskilling talent ecosystems to expand and diversify talent for scaling nationally. •The nine-month $1M grant will expand BHEF’s digital talent solutions by providing the resources to conduct a comprehensive assessment of supply and demand in the DMV and plan systematic responses by employers and universities to increase supply and diversity of talent, including: –DMV workforce analysis by national research firm, Emsi; regional and national employer surveys; structured employer interviews; and, focus groups, emphasizing reskilling women, underrepresented groups and veterans. –Systematic mapping of universities’ existing reskilling capacity. –Conduct gaps and opportunities analysis for high-demand reskilling credentials. –Explore and document the role of business intermediaries in building responsive digital talent ecosystems. –Prepare and submit to NSF a $5Mimplementation grant proposal to build a reskilling talent ecosystem in the DMV. BHEF’s NSF Convergence-Accelerator STEM Grant © 2019 BHEF 4 Enhance BHEF Communications BHEF will deepen its value proposition with members-only content and expanded external communications. •BHEF will produce quick monthly hits that will highlightBHEF in action. Data points may include: future TL and speaking engagement dates; media placements; upcoming publications; member spotlight; project updates; and new member announcements. •Quarterly, members will receive exclusive, unpublished insights. Written to be read and digested in under five minutes, this MI is designed to empower and equip successful business-higher education engagements. •BHEF’s public relations firm, Live Wire Strategic Communications, will focus on: –Releasing TL publications and securing speaking engagements for BHEF leadership at key conferences and events; –Securing media placements and expert commentary quotes; –Placing op-eds and bylined articles in news outlets and journals; –Managing BHEF’s overall media presence. © 2019 BHEF 5 BHEF 2020 Fundraising © 2019 BHEF 6 BHEF will use its recent fundraising momentum to pursue new sources of revenue and seek new relationships with funders. •The $1M nine-month NSF C-Accelplanning grant (Phase I) will permit BHEF and its partners to submit a 3-year $5M (Phase II) reskilling implementation grant (FY20, Q2). •BHEF is seeking a supplement to its multi-year grant from the JP Morgan Chase Foundation or a funding partner to support additional regional projects for WPI. •BHEF will seek new relationships with funders as TL and scaling partners. •FY20 Fundraising targets by quarter include: •Q1: ECMC Foundation—WPI support •Q2: NSF C-Accel; StradaEudcationNetwork—Scaling Talent Solutions through Business Intermediaries •Q3: Trellis Company; VMware; Lumina Foundation; Alfred P. Sloan Foundation—expanding diversity of talent •Q4: The Keck Center; Arnold Ventures LLC; The James Irvine Foundation; Joyce Foundation; Gordon and Betty Moore Foundation; Lilly Endowment Inc.—TBD BHEF’s Organizational Infrastructure BHEF will end its 15-year infrastructure relationship with SmithBucklin when their lease expires on May 31, 2020, relocate into new office space and on to the cloud. •BHEF’s Senior Director, Finance and Administration, Stacey Brown, is leading the transition to new office space, digital telecommunications services and benefits. •BHEF assessed options for cost-effective office space in DuPont Circle/West End areas and will need to sign a multi-year lease by November or December 2019. •BHEF is examining options for procurement of infrastructure services, including payroll and benefits, technology and telecommunications. •BHEF will continue to contract with SmithBucklin’sFinancial Management Services, at least through the FY19 audit. •BHEF will present a detailed plan outlining the most feasible solutions and costs across a range of infrastructure components at the FY20, Q2 meeting. •Staff anticipate a mid-April move. © 2019 BHEF 7 BHEF Winter 2020 Member Meeting Connecting the Dots: Replicating and Scaling Credentials to Build Digital Talent Ecosystems As the demand for digital talent grows exponentially, BHEF academic and business members are at different stages in offering and recognizing digital credentials. The BHEF Winter 2020 Member Meeting will investigate the challenges and opportunities, accomplishments and insights gained from implementing digital credentialing and integrating these credentials into work-based learning. This meeting will provide the opportunity to explore the critical role of credentials in upskilling and reskilling success for business, employees and universities. Thursday, February 13, 2020 InterContinental Washington, DC –The Wharf 801 Wharf St SW, Washington, DC 20024 2:30 p.m.Board Meeting 4:00 p.m.Executive Session 4:30 p.m.Board Photo 6:00 p.m.Chair’s Reception 7:00 p.m.Chair’s Dinner © 2019 BHEF 8 BHEF Winter 2020 Member Meeting Friday, February 14, 2020 InterContinental Washington, DC –The Wharf 801 Wharf St SW, Washington, DC 20024 7:45 a.m.Breakfast 8:50 a.m. Welcome 9:00 a.m.Potential Discussion Topic: Stackable Credentials –Early Adopters and New Players 10:00 a.m.Potential Discussion Topic: Connecting Work-Based Learning with Credentialing 11:00 a.m.Break 11:15 a.m.Potential Discussion Topic: Upskilling and Reskilling –The Connection to Employment and Promotions 12:15 p.m.Potential Discussion Topic: Supplement or Supplant–Credentials and the Baccalaureate Degree (working lunch) 1:35 p.m.Closing Remarks 1:45 p.m.Adjourn © 2019 BHEF 9 Discussion Finance and Audit Membership Tab 3 – Finance and Audit Report BHEF Finance and Audit Report, October 23, 2019 To: BHEF Board of Directors From: Brian Fitzgerald Date: October 23, 2019 Re: Finance and Audit Report On behalf of the BHEF Finance and Audit Committee, we are pleased to report on the status of BHEF’s finances and update you on BHEF’s compliance with reporting requirements. This report includes: Financials through August 31, 2019 and Preliminary Year-End Financials Investment Fund Report Financials through August 31, 2019 1 and Preliminary Year-End Financials As of August 31, 2019, the last financials available, BHEF received $2,538,311 in revenue, which included $1,640,000 in membership dues, $928,311 in grants, $15,000 in market intelligence revenue, and $5,000 in administrative revenue. Expenses totaled $3,000,597. BHEF’s fiscal year ended September 30, 2019 and our accountants are nearly finished with the September financial statements. We anticipate that final revenue will total $4,080,822 and expenses will total $3,924,712 for the year, which will result in a surplus in operating revenue of $156,111 and a net change in total assets of $449,996. It should also be noted that BHEF was awarded a $1,000,000 9-month planning grant from the National Science Foundation on September 17, 2019. Investment Fund Report The value of the BHEF Investment Fund 2 as of September 30, 2019 was $1,016,859.14. This represents an increase of 1.9 percent from September 30, 2018. BHEF’s investment portfolio is managed by Vanguard in the LifeStrategy Income Fund, with 40 percent of the managed portfolio in bonds, 25 percent in mutual funds, 15 percent in short-term investments, and 20 percent in stocks. FY17 Audit and IRS Form 990 Filing BHEF’s audit, A-133 audit and 990 filing is scheduled to start in December 2, 2019, in time to have final documents available at the February 2020 Board of Directors Meeting. The firm of Rubino & Company, CPA, will perform BHEF’s 2019 audit. 1 Unaudited cash-basis statements from BHEF’s accountants. 2 BHEF’s Investment Fund include LifeStrategy Income funds (self-managed with Vanguard). ATTACHMENT A Business-Higher Education Forum FY2019 Financials At August 31, 2019 Approved FY2019 Actuals at 8-31-2019 Year End Projection (9-30-2019) Operating Net Assets Unrestricted Revenue: 200 Membership - Revenue1,870,000$ 1,640,000$ 1,690,000$ 300 Conferences -Revenue-$ 5,000$ 8,201$ 510 Market Intelligence - Revenue165,000$ 15,000$ 15,000$ 520 JPMC - Revenue454,892$ -$ 600,000$ 521 WPI - Revenue-$ 100,000$ 100,000$ 525 Google - Revenue-$ 75,000$ 212,000$ HEWI Summary - Revenue1,829,757$ 753,311$ 1,455,621$ ------------------------------------------------------------ TOTAL OPERATING NET ASSETS4,319,649$ 2,588,311$ 4,080,822$ ------------------------------------------------------------------- Expenses 110 Administration - Expenses477,098$ 602,442$ 642,209$ 200 Membership - Expenses362,492$ 232,761$ 253,921$ 250 Grants - Expenses139,183$ 102,114$ 129,143$ 300 Conferences - Expenses350,087$ 356,043$ 364,620$ 500 Communications - Expenses257,493$ 219,761$ 239,739$ 510 Market Intelligence - Expenses151,552$ 10,894$ 10,894$ 520 JPMC - Expenses711,431$ 487,199$ 531,490$ 521 WPI - Expenses-$ 17,970$ 36,471$ 525 Google - Expenses-$ 56,395$ 72,395$ HEWI Summary - Expenses1,820,726$ 915,018$ 1,643,829$ ------------------------------------------------------------ Total Expenses4,270,062$ 3,000,597$ 3,924,712$ ------------------------------------------ NET CHANGE IN NET OPERATING ASSETS49,587$ (412,286)$ 156,111$ ------------------------------------------------------------------- Non-Operating Net Assets Revenue: 900 BHEF Investment Fund - Revenue30,000$ 61,829$ 83,003$ Total Revenue30,000$ 61,829$ 83,003$ Expenses: 900 BHEF Investment Fund - Expenses-$ -$ -$ Total Expenses-$ -$ -$ ------------------------------------------------------------------- Net Change in Non-Operating Net Assets30,000$ 61,829$ 83,003$ ------------------------------------------ NET CHANGE IN NET ASSETS79,587$ (350,457)$ 239,114$ ========================================================================= Beginning Balance 2019 Additions 2019 Subtractions Ending Balance Temporarily Restricted Net Assets660,682$ 312,000$ (761,800)$ 210,882$ -$ -$ -$ -$ 520-JPMC469,708$ -$ (482,346)$ (12,638)$ 521-WPI/Northrup-$ 100,000$ (36,471)$ 63,529$ 525-Google-$ 212,000$ (91,250)$ 120,750$ 743-Sloan DataScience90,974$ -$ (90,974)$ (0)$ 782-CIT II Smart Cities100,000$ -$ (60,760)$ 39,240$ ========================================================================= TOTAL NET CHANGE IN NET ASSETS449,996$ Tab 4 – Membership Report BHEF Membership Committee Report, October 23, 2019 MEMBERSHIP COMMITTEE REPORT October 23, 2019 I. DASHBOARD Date Total Corporate Academic Gov’t Emeritus Oct 2019 55 23 29 0 3 Jun 2019 58 25 30 0 3 Mar 2019 58 25 30 0 3 Oct 2018 54 22 28 1 3 II. FY20 RECRUITING GOAL: 35/35 by EOY 2020  12 new business members and 6 new academic members  12 new business members = $600k; 6 new academic members = $150k III. FY19 REVENUE AS OF SEPTEMBER 30, 2019 A FY19 membership revenue target $1,870,000 B Invoiced $1,990,000 C Pending/Off-schedule invoices $0 D Booked (as of 09/30/2019) $1,650,000 E Outstanding $100,000 1 F Lost ($240,000) 2 G Revised expected (C+D+E) $1,750,000 H Anticipated $ to target (G-A) $120,000 I Current $ to target (A-D) $220,000 IV. FY19 NON-RENEWALS  ONR: RADM David Hahn, chief of Naval Research  Parsons: Charles Harrington, chairman and chief executive officer  University of California, Davis: Gary May, chancellor 1 Boeing and Principal 2 100k of loss reflects transitional gap years for Dow and PepsiCo 2 BHEF Membership Committee Report, October 23, 2019 V. FY20 REVENUE AS OF SEPTEMBER 30, 2019 A FY20 membership revenue target $2,100,000 B Invoiced $1,725,000 C Pending/Off-schedule invoices $275,000 D Booked (as of 09/30/2019) $800,000 E Outstanding $775,000 F Non-renewals ($150,000) G Revised expected (C+D+E) $1,850,000 H Anticipated $ to target (G-A) $250,000 I Current $ to target (A-D) $1,300,000 VI. FY20 NON-RENEWALS  ACT: Marten Roorda, chief executive officer  The InterTech Group: Anita Zucker, chairperson and chief executive officer  Perella Weinberg Partners: Peter Weinberg, founding partner and CEO  University of Tennessee, Knoxville: Donde Plowman, chancellor VII. NEW MEMBERS  City University of New York: Félix Rodríguez, chancellor (transition)  PepsiCo: Vikram Somaya, chief data officer (transition)  Washington University in St. Louis: Andrew Martin, chancellor (transition) VIII. TRANSITIONS  Dow: TBD  Miami Dade College 3 : Rolando Montoya, interim president  Michigan State University: Samuel L. Stanley, Jr., M.D., president 3 FY20 dues paid FY20 PROSPECTS COUNTSOURCEPROSPECT NAMECOMPANY/INSTITUTIONTITLESTATUS STAGE 1: Prospect identification 1Jeff ArmstrongTBDPG&ETBDRegroup after new leadership is in place 1BHEFRichard FairbanksCapital OneChairman and CEO HOLD: CapOne focusing its higher ed efforts in CoLAB 1BHEFSamuel StanleyMichigan State UniversityPresident Transition. Started in August; letting dust settle, then will approach 3 STAGE 2: Vetting and talking points 1Jeff ArmstrongJeff WeinerLinkedInCEOOutreach package sent 1Jeff ArmstrongDoug Baker, Jr. EcolabCEOOutreach package sent 1Jeff ArmstrongGeorge Lee IIGoldman SachsCIO, Investment Banking GroupOutreach package sent 1Jeff ArmstrongLloyd DeanDignity HealthCo-CEOOutreach package sent 1Jeff ArmstrongDoug MerrittSplunkPresident and CEOOutreach package sent 1Jeff ArmstrongGreg ClarkSymantecCEOOutreach package sent 1Ryan OakesThomas KurianGoogle CloudCEO Working to get his deputy, Brent Mitchell, to BHEF winter meeting 7 STAGE 3: Member speaks with prospect 1Randy WoodsonOliver SchabenbergerSASCOO and CTO10/7: BHEF meeting with SAS higher ed leadership 1Jeff ArmstrongTBDWells FargoTBD Jeff in conversation with board member Suzanne "Zan" Vautrinot 1Jeff ArmstrongTBDCiscoTBDNext steps TBD 1BHEFJim FitterlingDowCEO Leveraging relationship with Dow Global Ops Tech Director Billy Bardin to re-engage; Wes is speaking with Fitterling at Dow board meetings 1BHEFMohamed AliIDGCEORequesting meeting 1BHEFLou Von ThaerBattelleCEO POC taking BHEF to Thaer; BHEF following up discuss next steps 1BHEFAlan SchnitzerTravelersCEO 10/8: Skype call with Bruce Soltys, head of university relations (BHEF staff lead when Travelers was a member) CONFIDENTIAL: NOT FOR DISTRIBUTIONAs of 10/16/2019 FY20 PROSPECTS STAGE 3: Member speaks with prospect 1Jim LoreeDavid HarrisUnion CollegePresidentInviting to 2020 winter meeting 1Jim LoreeChristopher SwiftThe HartfordCEO Working with Jim Loree's office to find appropriate time for introduction 1Tony MonacoScott PowellSantander USCEODiscussion item for upcoming call with Tony 1Mary PapazianPat Gelsinger VMwareCEOSJSU providing feedback to proposal 1Tim SandsSteven MollenkophQualcommCEO Jeff spoke with Qualcomm SVP of Engineering Tony Schwarz; coordinating approach with Tim 1Tim Sands/Wes BushDavid CalhounBlackstone Senior Managing Director, Head of Private Equity Portfolio OpsTBD; 10/14: Calhoun named Boeing chairman 1Peter WeinbergRob KapitoBlackRockChairman & CEO 10/18: Meeting with Deborah Winshel, head of BlackRock CSR 1Peter WeinbergCharles LoweryPrudential CEO & Chairman-electHOLD: Re-approach in winter 2020 1Randy WoodsonRavi KumarInfosysPresident and Deputy COODetermining best approach to Kumar 16 STAGE 4: Prospect speaks with BHEF 1BHEFLaura IpsenEllucianCEOAnticipate decision in October 1Jeff Armstrong Bret Taylor OR Sarah FranklinSalesForce Jeff communicating internally in SalesForce to determine next steps with Taylor or Franklin 2 STAGE 5: Prospect F2F with BHEF 1BHEFHeather WilsonUTEPPresident Engaging with UTEP around KSAs and invited Wilson to BHEF 2020 winter meeting 1BHEFRoger CrandallMassMutualCEOScheduling meeting 1BHEFRuss RamseyRamsey Asset ManagementFounder, Chair and CEO10/17: Meeting with Ramsey 3 STAGE 6: BHEF welcomes new member 1BHEFVikram SomayaPepsiCoChief Data Officerw/c 10/14: Welcome letter 1BHEFFélix RodríguezCUNYChancellor9/26: Welcome letter sent 1Mark WrightonAndrew MartinWashington University in St. LouisChancellor9/19: Welcome letter sent 3 STAGE 7: New members registered for W20 0 CONFIDENTIAL: NOT FOR DISTRIBUTIONAs of 10/16/2019