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Release: Immediate
General News

Michael J. New named president of University of Iowa Foundation

IOWA CITY, Iowa -- Michael J. New, vice president for development programs at the University of Iowa Foundation, has been named president of the Foundation. He succeeds Darrell D. Wyrick, who is retiring July 1.

New's appointment, the culmination of a nation-wide search, was announced by UI President Mary Sue Coleman and David J. Fisher of Des Moines, who is chair of the UI Foundation Board of Directors.

"We are absolutely delighted to have identified a new leader for the Foundation who brings energy, creativity and commitment to this vital position," Coleman said.

Fisher added, "The University of Iowa will continue to depend on private philanthropy to maintain its high standards of excellence. Under Michael New's leadership, we will advance to the next level of funding."

New, who earned bachelor's and master's degrees from the UI, has worked for the UI Foundation since 1976, when he joined the staff as associate director. He was promoted to vice president in 1985, and since that time has led the Foundation's development staff, which has grown from 10 to 32 full-time development officer positions, serving all parts of the UI.

In addition to planning and implementing strategies for numerous UI capital campaigns - including the upcoming university-wide comprehensive campaign - New has worked with the university's central administration to expand international outreach and fund-raising.

Prior to joining the UI Foundation, New was assistant coordinator of the UI College of Medicine's Iowa Regional Medical Program. He also held administrative and development positions with Iowa Public Television, the Health Facilities Association of Iowa, and the Iowa Chapter of the Arthritis Foundation.

Founded in 1956, the UI Foundation is a nonprofit organization that is structurally separate from the University of Iowa but works hand-in-hand with the UI as its preferred channel for private gifts. The Foundation's more than 200 staff members raise funds, provide donor stewardship, and maximize private support for essential UI programs such as student scholarships and fellowships, endowed professorships, research projects, equipment purchases, and building renovation and construction.

In calendar year 1997, the Foundation raised more than $97 million in outright and deferred gifts from nearly 47,000 contributors. In its 41-year history, the Foundation's cumulative productivity (outright gifts and deferred gifts such as bequests and pledges to be paid in future years) exceeds $748 million.

The Foundation is governed by a board of directors that elects its officers and appoints its staff. In addition to conducting annual giving programs for more than 30 UI colleges, departments and programs, Foundation staff help alumni, friends and their financial advisors plan deferred gifts through wills and trusts, as well as gifts of securities, real estate and other property. The Foundation also assists colleges and other units with special-purpose campaigns, such as the recent renovation of Hancher Auditorium, the campaign for the Pappajohn Business Administration Building, and the Carver-Hawkeye Arena campaign.